BitGo: keys, security, fees and reviews
In short
- Custody wallets (custodial)
- BitGo holds all three private keys in offline cold storage; withdrawals go through BitGo's verification checks.
- Fees
- Self-custody (self-service accounts): BitGo, Inc. offers self-custody wallets through self-service accounts free of charge, which may change at its discretion (as of 31 October 2026).
- Risks and caveats
- Digital assets in custody are not guaranteed by BitGo and not covered by FDIC or SIPC insurance.
- Checked
- 31 October 2026
Visitor ratings: do you like BitGo?
Key facts
- Developer
- BitGo Holdings, Inc.
- Official site
- bitgo.com
Key facts checked on 31 October 2026 against official sources.
What is BitGo
BitGo is a US digital-asset infrastructure company that offers custodial (qualified custody) wallets, self-custody multi-signature hot and cold wallets, trading, staking and settlement services, mainly to institutions. Its US custody entity is BitGo Bank & Trust, National Association, a national trust bank chartered by the OCC.
Who holds the keys
| Parameter | Details |
|---|---|
| Custody wallets (custodial) | BitGo holds all three private keys in offline cold storage; withdrawals go through BitGo's verification checks. |
| Self-custody hot wallets | Multi-signature: the client keeps the user key and the backup key, BitGo keeps the third (platform) key and countersigns only within the client's policies. |
| Self-custody cold wallets | The client controls two of the three keys offline and half-signs transactions offline; BitGo countersigns. |
| Segregation of custodial assets | BitGo says custodial client assets are held in regulated entities and segregated from its corporate balance sheet. |
| Insurance | BitGo states an insurance policy of up to $250M covering digital assets where BitGo Bank & Trust holds all keys (custody wallets, not self-custody), placed with a Lloyd's of London and European syndicate. |
| No FDIC / SIPC protection | Digital assets in custody are not guaranteed by BitGo and not covered by FDIC or SIPC insurance. |
Features and supported networks
| Parameter | Details |
|---|---|
| Withdrawals (custody wallets) | Custody wallet withdrawals can be initiated at any time and are processed within a 24-hour service level. |
Security and audits
- BitGo Bank & Trust, National Association (OCC charter number 25366, Sioux Falls, SD) appears on the OCC list of active trust banks as of 30 September 2026.
- The OCC granted conditional approval to convert BitGo Trust Company, Inc. into an uninsured national trust bank; the bank does not take deposits and is not FDIC-insured.
- The OCC approved the bank's plan to exercise fiduciary powers.
- BitGo New York Trust Company, LLC holds a Limited Purpose Trust Charter from NYDFS, granted March 2021.
Fees
| Parameter | Details |
|---|---|
| Self-custody (self-service accounts) | BitGo, Inc. offers self-custody wallets through self-service accounts free of charge, which may change at its discretion (as of 31 October 2026). |
| Custody and transactions | Custody is billed as a basis-point fee on the monthly average USD value of assets under custody, and transaction fees apply only to outgoing transfers outside the client's BitGo enterprise; rates are set in each client's agreement and not published (as of 31 October 2026). |
History
| Date | Event |
|---|---|
| 2011 | BitGo, Inc. was incorporated in Delaware under the name Whensoon, Inc. |
| 2013 | BitGo was founded by Mike Belshe (company's stated founding year). |
| 2018 | BitGo, Inc. became a wholly-owned subsidiary of the new holding company BitGo Holdings, Inc. |
| 2018 | BitGo Trust Company, Inc. (a South Dakota trust company) was launched. |
| March 2021 | NYDFS granted BitGo New York Trust Company, LLC a limited purpose trust charter. |
| 14 July 2025 | BitGo Trust Company applied to the OCC to convert to an uninsured national trust bank. |
| 12 December 2025 | The OCC announced conditional approval of the conversion to BitGo Bank & Trust, National Association (with Fidelity Digital Assets and Paxos). BitGo's 10-K states the conversion was completed the same day. |
| January 2026 | BitGo Holdings, Inc. closed its initial public offering of Class A common stock (NYSE: BTGO). |
Risks and caveats
- Digital assets in custody are not guaranteed by BitGo and not covered by FDIC or SIPC insurance.
- BitGo Bank & Trust does not take deposits and is not FDIC-insured.
- BitGo's stated insurance policy of up to $250M applies to digital assets where BitGo Bank & Trust holds all keys (custody wallets), not to self-custody wallets.
- BitGo is not a registered broker-dealer and not a member of SIPC or FINRA.
- In custody wallets BitGo holds all three private keys; withdrawals go through BitGo's verification checks.
- Custody and transaction fee rates are set in each client's agreement and not published; free self-service self-custody accounts may change at BitGo's discretion.
About the developer
- Parent company
- BitGo Holdings, Inc., a Delaware corporation headquartered in Sioux Falls, South Dakota; BitGo Bank & Trust is its wholly-owned subsidiary.
- Other US entities
- BitGo, Inc. and BitGo Prime, LLC are separately operated affiliates of BitGo Bank & Trust.
- Stock listing
- BitGo Holdings, Inc. Class A common stock trades on the New York Stock Exchange under the symbol BTGO.
- Founded
- 2013, by Mike Belshe (company's stated founding year).
- US: FinCEN MSB / state money transmission
- BitGo Technologies, LLC is registered with FinCEN as a Money Services Business and holds money-transmitter licences in certain US states (per BitGo).
- Licence / registration: Singapore
- BitGo Singapore Pte. Ltd.: Major Payment Institution licence from MAS for digital payment token and cross-border money transfer services (per BitGo).
- Licence / registration: UAE (Dubai)
- BitGo Custody MENA FZE is licensed by VARA for custody services; BitGo MENA FZE is authorised by VARA for broker-dealer services (per BitGo).
- Licence / registration: European Union (Germany)
- BitGo Europe GmbH holds a MiCAR licence from BaFin for crypto custody, transfer and trading services (per BitGo).
- Licence / registration: Switzerland
- BitGo GmbH provides crypto custody under Swiss AML rules and is affiliated with VQF, a self-regulatory organisation supervised by FINMA (per BitGo).
- Licence / registration: Denmark
- BitGo Europe APS is registered with the Danish supervisory authority for lending services (per BitGo).
Official links
- About BitGo: www.bitgo.com/company/about-us
- Custody wallets: www.bitgo.com/products/custody-wallets
- Self-custody wallets: www.bitgo.com/products/self-custody
- Licences: www.bitgo.com/company/licenses
- Insurance: www.bitgo.com/solutions/insurance
- Billing methodology: www.bitgo.com/resources/billing-methodology
- Legal disclosures: www.bitgo.com/legal
Questions and answers
What is BitGo?
BitGo is a US digital-asset custody and wallet company for institutions. Its parent, BitGo Holdings, Inc., is listed on the New York Stock Exchange as BTGO, and its US custody entity is BitGo Bank & Trust, National Association, a national trust bank chartered by the OCC.
Does BitGo hold my private keys?
It depends on the wallet type. In custody wallets BitGo holds all three keys in cold storage. In self-custody hot and cold wallets the client holds two of the three keys and BitGo holds one and countersigns transactions that meet the client's policies.
Who regulates BitGo?
BitGo Bank & Trust is a national trust bank chartered by the OCC (charter 25366), and BitGo New York Trust Company, LLC holds an NYDFS limited purpose trust charter. BitGo also lists licences or registrations in Singapore (MAS), Dubai (VARA), Germany (BaFin, MiCAR), Switzerland (VQF/FINMA) and Denmark.
Are assets held with BitGo FDIC-insured?
No. BitGo says digital assets in custody are not covered by FDIC or SIPC. It states an insurance policy of up to $250M for assets where BitGo Bank & Trust holds all keys.
Sources
- bitgo.com
- bitgo.com
- bitgo.com
- BitGo — Licenses
- BitGo — Legal
- BitGo — Insurance
- BitGo — Billing methodology
- OCC — Trust banks active as of 9/30/2026
- OCC — Conditional approval decision (BitGo Bank & Trust)
- OCC — News release 2025-125
- NYDFS — Virtual currency businesses
- SEC — BitGo Holdings, Inc. Form 10-K (fiscal year 2025)
- SEC — BitGo Holdings, Inc. Form 8-K (January 2026)
More in this section
How voting works
Votes are anonymous and carry no text. Each device has one vote per item; press the same button again to remove it. Cloudflare Turnstile checks that a person is voting. We keep a random device ID in a cookie and a salted hash of the IP address to limit abuse — no names, no accounts. Votes are visitors’ opinions, not investment advice.
Page updated: