Home - Exchange - BitGo

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MTL License



Digital Currency License


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(650) 847-0009
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5-10 years|
MTL License|
Digital Currency License
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User Reviews


2 ratings

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2023-09-24 00:51
BitGo's transaction fees are an absolute outrage! The user interface is also confusing, took ages to navigate.
BitGo's transaction fees are an absolute outrage! The user interface is also confusing, took ages to navigate.


2023-09-06 16:40
I don't see any downside except BitGo uses a single server to process transactions, which can become a vulnerability in case of failures or attacks!
I don't see any downside except BitGo uses a single server to process transactions, which can become a vulnerability in case of failures or attacks!


Exchange Name BitGo
Founded Year 2013
Regulatory Agency NMLSNYSDFS
Cryptocurrencies Available 600+
Fees 0.25% commission fees
Payment method Bank Transfers, Credit/Debit Cards
Customer support Phone: (650) 847-0009Email Address: sales@bitgo.comsupport@bitgo.comSocial media: Facebook, Twitter, Linkedin

Overview of BitGo

  Founded in 2013 by Mike Belshe and Ben Davenport, BitGo is headquartered in Palo Alto, USA, and was initially established to aid businesses engaged in frequent cryptocurrency transactions. Notable investors include Goldman Sachs, DRW Ventures, and Redpoint Ventures.

  BitGo's pioneering multi-signature wallet led to the development of Threshold Signature (TSS) technology, enhancing security for other fintech enterprises through multi-party computational protocols (MPC). The platform supports 600+ coins via multi-signature and TSS protocols, offering reliable and secure financial services.

  BitGo's infrastructure offers regulated custody, borrowing, lending, and cold storage through its Trust Company, established in 2018.


Pros and Cons

Pros Cons
Multiple available cryptocurrencies A limited list of supported currencies
Many types of wallets to choose No clear information on trading fees
Regulated by the NMLS and NYSDFS
Comprehensive customer services

  Pros of BitGo:

  •   Wide variety of available cryptocurrencies, accommodating diverse preferences.

  •   Multiple types of wallets to choose from, enhancing user flexibility.

  •   Regulated by the NMLS and NYSDFS, providing a level of oversight and compliance.

  •   Comprehensive customer services, addressing a range of user needs and concerns.

  Cons of BitGo:

  •   Limited list of supported currencies, potentially restricting options for users.

  •   Lack of clear information on trading fees, leading to uncertainty for traders.

Regulatory Authority

  BitGo is regulated by the Nationwide Multistate Licensing System (NMLS) under the Regulation Number 1817802. The exchange is categorized as “Regulated” and holds an MTL License through its entity BitGo Trust Company, Inc.

  Additionally, BitGo is also regulated by the New York State Department of Financial Services (NYSDFS) and operates under a Digital Currency License. However, the specific Regulation Number is not disclosed. The entity responsible for compliance in New York is BitGo New York Trust Company LLC.


  These regulatory agencies oversee and monitor the operations of BitGo to ensure compliance with relevant laws and regulations within their jurisdictions. The licenses obtained by BitGo demonstrate the company's commitment to maintaining regulatory standards in the virtual currency exchange industry.


  BitGo employs multi-signature and Threshold Signature Scheme technologies to ensure enhanced security, transparency, and user confidence in safeguarding digital assets.

  1. Multi-Signature Wallets:

  - Multiple keys required for transactions.

  - Enhanced protection and accountability.

  - Transparent verification of authorized transactions.

  - Backup keys prevent key loss risks.

  2. Threshold Signature Scheme (TSS):

  - Elevated security for select blockchains.

  - Speedier coin integration, lower fees.

  - MPC security for both cold and hot wallets.

  3. User-Centric Approach:

  - Addressing users' top concern – security.

  - Proactive adoption of advanced protocols.

  - Building trust through transparency and protection.

  BitGo excels in securing digital assets, employing multi-signature and TSS technologies, and reflecting its commitment to user-centric security and accountability.


Cryptocurrencies Available

  BitGo exchange supports a diverse range of cryptocurrencies from various blockchains. For instance, it facilitates popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), and many others. This broad support extends to over 600 coins, catering to a wide array of digital assets within the crypto ecosystem.

Products and Services

  BitGo offers a versatile array of cryptocurrency solutions, including Hot Wallets for swift transactions, secure Custodial Wallets, borrowing services, and Self-Managed Cold Wallets. Users can engage in lending and stake coins for rewards, while NFT Wallets ensure safe token storage.

  The exchange also supports DeFi, Collateral Management, and Wealth Management, integrating with the Go Network. Developers can create tailored applications with BUILD, and BitGo's APIs enhance communication and integration. Overall, BitGo provides a comprehensive ecosystem catering to diverse crypto needs.


  BitGo charges a fee of 0.25% for each outgoing financial transaction involving Bitcoin (BTC) and a fee of 1% for each transaction involving Bitcoin Gold (BTG).

Payment Methods

  BitGo offers a range of payment methods to facilitate transactions within its platform. Users can fund their accounts and engage in various crypto-related activities using methods such as:

  1. Cryptocurrency Deposits: Users can deposit various cryptocurrencies directly into their BitGo accounts. This allows for seamless integration with the platform and its services.

  2. Bank Transfers: BitGo may support bank transfers, enabling users to transfer funds from their bank accounts to their BitGo wallets. This traditional method offers a familiar and secure way to fund accounts.

  3. Credit/Debit Cards: Some regions and services within BitGo might accept credit or debit card payments, providing a convenient and widely used method for purchasing cryptocurrencies.

  4. Third-Party Payment Gateways: BitGo may also partner with third-party payment gateways, enabling users to utilize their preferred payment methods for funding their accounts.

  It's important to note that the availability of specific payment methods may vary based on geographical location, regulations, and the services offered by BitGo. Users should review the platform's official documentation and interface to understand the exact payment methods available to them.

Exchange Comparison

  BitGo offers over 600 cryptocurrencies with a 0.25% commission fee for Bitcoin transactions and multiple wallet choices.

  Binance lists more than 350 cryptocurrencies with transaction fees under 0.10%, features a Secure Asset Fund for Users, and boasts a vast user base of over 12 million.

  Gate.io stands out with 1,400+ listed cryptocurrencies, supports deposits in 20+ fiat currencies, and provides an Earn on Deposits program, along with HODL and Earn options.

  Staking and earning opportunities are also available across these platforms.

BitGo Binance Gate.io
600+ Cryptocurrencies - 350+ Cryptocurrencies Listed - 1,400+ Cryptocurrencies Listed
0.25% commission Fees for Bitcoin - <0.10% Transaction Fees - 12+ million users
- Also multiple choices of wallets - Secure Asset Fund for Users - Deposit using 20+ fiat currencies
- Staking service enables you to grow your crypto holdings - Earn On Deposits - HODL and Earn


  Q: Where is my money stored?

  A: BitGo uses a combination of cold storage (offline) and hot storage (online) wallets to store the cryptocurrencies.

  Q: What are some notable investors in BitGo?

  A: Notable investors in BitGo include Goldman Sachs, DRW Ventures, and Redpoint Ventures.

  Q: What technological innovation did BitGo's multi-signature wallet lead to?

  A: BitGo's pioneering multi-signature wallet technology led to the development of Threshold Signature (TSS) technology, which enhances security for fintech enterprises through multi-party computational protocols (MPC).

  Q: How does BitGo enhance security for cryptocurrency transactions?

  A: BitGo employs multi-signature and Threshold Signature Scheme (TSS) technologies to enhance security, transparency, and user confidence in safeguarding digital assets.

  Q: What payment methods can users use on BitGo's platform?

  A: BitGo offers various payment methods, including cryptocurrency deposits, bank transfers, credit/debit cards, and potentially third-party payment gateways.

BitGo User Review

  User 1:

  BitGo's security is top-notch! I sleep well knowing my crypto is in multi-signature wallets and protected by Threshold Signature tech. Plus, they're regulated by NMLS and NYSDFS, adding peace of mind. The interface is clean and user-friendly, but more coins would be awesome. Customer support is quick to answer queries. Fees are reasonable, but they need to be transparent about trading costs. On the downside, withdrawals took a bit longer than expected. Overall, thumbs up for BitGo's secure vibe!

  User 2:

  Yo, BitGo is a mixed bag. Props for security – multi-signature wallets and TSS, gotta love it. But, listen up, their crypto options ain't expansive. Also, they're all about regulations, but privacy-wise, I'm unsure. The platform's UI is slick, but sometimes it's like a maze. Liquidity's decent, but fees, man, they need to be upfront about 'em. Customer support? Average, nothing flashy. Withdrawals ain't lightning-fast, and I'd love more order types. Stability-wise, no major hiccups so far. It's cool, but some tweaks are needed!


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