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Review on Bitgo Wallet by Maciej Freliga

Revainrating 4 out of 5

Bitgo the stunning review

If you are starting or running an exchange, going with Bitgo may be heavy on your expenses, but takes care of big security headaches.

We are a Cryptocurrency Exchange started in 2017, launched in April 2018. We are using Bitgo to support all our coins and they have played a significant role in our growth.
By using Bitgo we are able to support multiple coins without getting into the details and vulnerabilities of each coin. It is not exactly a plug and play solution, but still for a startup operating in Crypto space using Bitgo solution saves months of hard-work.



Pros
  • We can be slightly more peaceful considering the fact that Bitgo is our partner and they are doing everything to keep the Assets safe.
  • So if we perform our duty and ensure secure systems at our end, we can be sure that all our assets are protected twice. Setting velocity limits, ensure our losses are limited.
Cons
  • Very Expensive. Especially in the bear market where exchanges are finding it difficult to survive and many popular exchanges closing, bitgo fees is a big burden for a growing exchange. Instead of charging a a % fee which increases linearly, it would be great if there are fee tiers. It is in Bitgo's advantage to ensure profitability of their clients.
  • I appreciate that Bitgo has worked hard to launch multiple coins in the last one year and we also understand the technical limitations, but till more coins need to be supported.