What is service of Bitgo? Is it useful? Benefit?

[wsxdrfv]

I don't know well about Bitgo,

What they actually provide?

Is it useful?

and are there none of similar service?


So if I want to make over 100 coin's daemon and setting it on server, are Bitgo helpful?

[LeGaulois]

It's a bitcoin wallet service offering solutions for companies, Bitgo has an insurance policy to protect their clients (I say it but don't know what happened when Bitfinex was hacked). It's like a white label (I don't think an individual can use their services). For example if you want to create a web-based wallet you can use their services. I know Unocoin, Bitstamp are using Bitgo.

[JanpriX]

They've been quite useful for me in the past but dropped them when I noticed that they take huge amount of fee per transaction. I don't know if they made some adjustments with their transaction fees but hopefully they are. Moving on with their service, they indeed provide a well-established wallet that can be used as payment gateway by different online companies. If I'm not mistaken, they also provide you your private keys for your wallet though I can't be sure about it. They are well-known online wallet that has reputation few years back.

[npredtorch]

I guess it is still pretty useful/trusted if they've been used on the known exchanges like upbit, bitstamp and bitbay (after all that happened on Bitfinex).
Currently, they are on track to pursue on a new suite of custodial services - https://www.coindesk.com/bitgo-courts-wall-street-new-bitcoin-custody-products/

Sorry but couldn't find any similar services like BitGo.

[mobnepal]

Don't forget that they were also accused on the hack of bitfinex few years back ;
https://www.ethnews.com/bitfinex-hack-did-us-regulations-prevent-cold-storage-use
http://www.coinfox.info/news/reviews/6096-bitfinex-confirms-bitgo-signing-theft-transactions

Yeah they reply with no we are not the reason for hack https://www.ccn.com/bitgo-claims-software-not-fault-bitfinex-hack/

This might happen again so whatever they claim insurance on your holding or secure multi signature technology might not hold always.

Its better to store your coins in paper wallet and use them by importing it in supporting multicoin wallet which gives you private key....

[Hamphser]

I guess it is still pretty useful/trusted if they've been used on the known exchanges like upbit, bitstamp and bitbay (after all that happened on Bitfinex).
Currently, they are on track to pursue on a new suite of custodial services - https://www.coindesk.com/bitgo-courts-wall-street-new-bitcoin-custody-products/

Sorry but couldn't find any similar services like BitGo.

There might be some accusations towards Bitgo posted above links ^ .but still companies do make use of it which signifies it is still trustable enough and I don't really see similar thing on the net which do have the same service that they do gave.

Its better to store your coins in paper wallet and use them by importing it in supporting multicoin wallet which gives you private key....

Agree, I would choose up to store coins in a paper wallet and I'm not really much confident into other 3rd parties.

[timerland]

I think that as a personal user, if you use Bitgo, the biggest advantage that you'll notice is probably just the fact that you'll be able to deposit to certain exchanges without the confirmation requirements, with Bitgo Instant.

Of course, they also claim security benefits, which could be true. However, there were accusations regarding Bitfinex as everyone mentioned, which really taints their image.

Plus, if you're just want a wallet to use individually, use Electrum. Bitgo is really designed for corporate users to integrate and use, with insurance and all that which still isn't perfectly trustless. Safety in desktop wallets like Electrum is already good enough, imho.