Review on Bitgo Wallet by Sergio Daniel Delgado
BitGo is a bitcoin wallet which has...
BitGo is a bitcoin wallet which has impressed users with its security features, interactive design and modern interface. It is a multi-signature, multi-user and secure wallet which provides the top notch services other wallets fail to offer. The wallet was launched to help those businesses who regularly use bitcoins for transactions. It is a personalized wallet which has ample of benefits for benefits for businesses and organizations using bitcoins.
This is one of the secure and safest ways of making transactions through a wallet. A multisignature not only allows the multiple users to use a single account but also provides safety features for making transactions. Different users can access a single account as soon as permission is granted. This promotes sharing of funds among a group of people in a very hassle free way. Especially for organizations, this is one of the lucrative reasons to choose the BitGo wallet.
Pros
- With the private keys, the users and financial institutions get the control over their own funds
- Through limited and robust access, private keys and multilevel security options, the wallet provides a very safe environment for users to save their funds.
- Users can get all the basic privacy It can help organizations to get a private blockchain
- BitGo wallet allows instant and safe transactions
- It is a multi signature and multi user wallet which can be easily used by multiple users at a time in a secure environment Its use is more than just a wallet for storing and trading bitcoins. Its aim is to develop economy and improve financial solutions
- The encryption protocol P2SH is used which provides safest encryption
Cons
- One of the issues is the centralized verification which is time consuming and makes transactions dependent on a single server
- If you want to use BitGo, you have to pay for transactions using cards or cryptocurrencies
- If you are willing to get a blockchain, you have to invest a pretty amount in its development
