BitcoinWallets

New Way to Add Wallets From BitGo

BitGo have introduced a new way for users to create and set up wallets within organizations. After creating an account, users can manage all of their wallets and access features such as loss protection, audit log and monthly report statements, and API access with guaranteed uptimes based on BitGo’s Service Level Agreement chosen. There are different support pricing options to suit different business needs.

Owners can manage the organization by creating wallets, adding additional owners and modifying the support plan, although removing existing owners will require approval from additional owners if more than one has been assigned to the organization. Organizations are billed though centralized billing in accordance with their monthly support plan, with the addition of $30 for each wallet user.

BitGo explained how to create and manage an organization. From the website, users can find a drop down menu to start the process and manage the organization and wallets.

BitGo diagram 1

After choosing a name, support plan and entering credit card details, the organization will be ready to go. The ability to manage the wallet, add or remove users, view billing information and change support plans can all be controlled from the wallet dashboard and the relevant tabs.

BitGo Diagram 2

BitGo uses multi-signature technology, requiring two keys to access, with a third stored as an offline backup by BitGo, who are therefore unable to access the bitcoin of a user’s account. Requiring two-factor authentication, and combined with high security measures, BitGo offers safety for storing bitcoin.

Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.
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