TrustRadius Insights
BitGo has proven to be a valuable solution for big investors and financial organizations, addressing their need for secure storage, …
Overview
What is BitGo?
BitGo’s wallet platform aims to create an ideal balance between security and accessibility, to enable clients to move assets seamlessly and reliably, protected by BitGo’s multi-signature security, multi-user policy controls, and security configurations.
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What is BitGo?
BitGo’s wallet platform aims to create an ideal balance between security and accessibility, to enable clients to move assets seamlessly and reliably, protected by BitGo’s multi-signature security, multi-user policy controls, and security configurations.
Entry-level set up fee?
- No setup fee
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- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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What is ECOS?
ECOS is a crypto investment platform. ECOS company was founded in 2017 in Armenia in the Free Economic Zone. Main products: ○ Cryptocurrency mining ○ Mining devices (ASICs) with hosting ○ Crypto wallet ○ Cryptocurrency exchange ○ Crypto portfolios ECOS is the first cloud mining provider that…
Product Demos
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Product Details
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What is BitGo?
BitGo Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
BitGo has proven to be a valuable solution for big investors and financial organizations, addressing their need for secure storage, transmission, and receipt of cryptocurrencies. Users have praised its high level of security, including features like multi-signature and vault storage, that help reduce the risk of asset theft. This has been crucial in building trust and confidence among users who handle large amounts of crypto assets.
The platform has also addressed the business problem of conducting international transactions seamlessly. Users have successfully used BitGo for purchasing gaming consoles and engaging in second-hand dealings with sellers from different parts of the world. The support for multiple currencies has been particularly useful when dealing with sellers who only accept a limited number of currencies, ensuring smooth transactions regardless of location.
Furthermore, BitGo's ease of use when receiving payments in cryptocurrency through a simple link sharing mechanism has been highly appreciated by users. Its ability to handle a large number of transactions per minute, up to 600 according to some users, has also been beneficial. The payment model that accommodates an unlimited number of transactions per minute adds further value for users.
BitGo is not only recognized as a secure solution for cryptocurrency exchange but also as a time-saving alternative to building one's own solution. While it may not be a plug and play solution, users have mentioned that it still saves them months of hard work compared to developing their own system. The importance of BitGo's high level of security cannot be understated, making it a must-use wallet for those in financial organizations who require enhanced security for their crypto assets.
Additionally, BitGo's multisig wallets have proven essential for crypto startups as they provide an added layer of security for their assets. By utilizing BitGo's multisig wallets, these startups can boost the protection of their funds and mitigate risks associated with storing and transmitting cryptocurrencies.
Overall, BitGo has successfully addressed various business problems in the cryptocurrency space by offering secure storage and transmission capabilities to big investors, financial organizations, and crypto startups. Its support for multiple currencies and ability to handle a large number of transactions per minute have further solidified its value proposition for users engaging in international transactions and high-volume operations.
Fast and Smooth Trading: Users have praised BitGo for its fast and smooth trading capabilities, with multiple reviewers highlighting this as a key advantage. The software allows users to execute transactions quickly, providing a seamless experience when managing cryptocurrencies.
Multi-Signature Security: Several reviewers have appreciated BitGo's multi-signature system, which adds an extra layer of security to their assets. This feature has been commended for protecting users' cryptocurrencies from potential fraudsters and ensuring the safety of their investments.
Intuitive User Interface: BitGo's software has received positive feedback for its usability and intuitive user interface. Reviewers have found it easy to navigate the platform, perform various tasks such as transferring money internationally without tax implications, and manage their assets effortlessly.
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Single server dependency: Some users have expressed concerns about BitGo's reliance on a single server to process transactions, stating that this could potentially make the system vulnerable to failures or attacks.
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High transaction fees: Several users have mentioned that they find the fees for sending transactions with BitGo to be expensive, particularly in bear markets where exchanges are struggling. They suggest implementing fee tiers instead of charging a flat fee to ensure profitability for clients.
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Limited cryptocurrency support: Users have indicated that while they appreciate BitGo's effort in launching multiple coins in the past year, they feel that the platform should support more cryptocurrencies beyond just bitcoin. They believe this would provide greater flexibility and diversity in their investment options.