Choosing a Wallet Type
Before coin and tokens can be received and held in a Bitgo Account, a wallet will need to be created.
Self-Custody Hot Wallets
The wallet's creator is responsible for securing both the main private key and the backup key. Bitgo offers the ability to opt out of securing the backup key in favor of using a third party Key Recovery Service that BitGo partners with. BitGo holds a key to co-sign all transactions.
Self-Custody Cold Wallets
The wallet's creator is responsible for securing the main user private key and the backup private key. The wallet's creator will generate keys and sign using the Offline Vault Console. BitGo holds a key to co-sign all transactions.
Custody Wallets
Segregated cold storage where BitGo Trust manages all private keys. Depending on the jurisdiction, certain services may not be available. Please check with your Customer Success Manager for further details. Due to withdrawals possibly requiring video identification and having a 24-hr SLA, these wallets are ideal for safekeeping rather than high transaction volumes.
Go Account
A Go Account is a cold storage, multi-asset wallet that holds fiat and digital assets, with BitGo Trust managing all private keys. Go Accounts enable clients to utilize trading and the Go Network (DVP and Off-Exchange Settlement). Asset ownership is tracked via ledger technology and all transfers execute off-chain. Transfers execute on-chain only when moving from your Go Account to another BitGo wallet address (non-Go Account) or a non-BitGo wallet address.
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