Custody Withdrawals

Custody Withdrawals

Withdrawals from custody wallets are designed to balance security-first protections with frictionless access to your assets. This section explains how withdrawals work and the safeguards in place.

Layers of Security to Protect You and Your Assets

BitGo’s layered security safeguards are designed to defend against multiple types of attacks, combining protections operated by BitGo with flexible controls managed by you. These layers work together to ensure withdrawals are both secure and frictionless. 

Built-In Security 

These protections are built into BitGo’s qualified custody model and represent the foundation of our institutional-grade security. 

• Institutional-Grade Custody: Funds are held in cold storage, fully offline and secured under the same standards used by leading global financial institutions.

• Cryptographic Signatures:  Every withdrawal requires multiple independent key signatures from BitGo’s secure network, ensuring that even if a single key is compromised, your funds remain safe.

• Video Identity Verification: BitGo’s security team reviews human video verification to catch sophisticated fraud attempts.

Why this matters: These steps are designed to stop advanced attacks and may introduce processing times but they’re what allow BitGo to maintain the highest standards of custody, security and compliance. BitGo continuously invests in operational efficiency so that you can benefit from world-class security without unnecessary friction.

BitGo-Enforced Actions

These protections are enforced to safeguard your account, however, you may potentially configure select parameters so that they align with your operational needs and risk tolerances. Go to our managing policies guide to learn more about BitGo enforced policies. 

• Video Identity Verification: Depending on the custody withdrawal amount, you may need to complete additional security verifications before BitGo will complete the signing of the transaction. BitGo’s security team conducts human video verification to catch sophisticated fraud attempts.

• Unverified Addresses: This policy defines the identity verification requirements for first-time withdrawals to a newly whitelisted (unverified) address, including liveness or Video ID checks. Subsequent withdrawals to verified addresses generally do not require additional verification unless trust velocity limits are exceeded.

• Liveness Verification: Similar to Video ID Verification, certain custody withdrawals amounts will trigger a Liveness Verification. These real-time biometric checks confirm that only you can authorize a withdrawal, protecting against deepfakes and identity theft.

Client-Controlled Security

These controls are fully within your control, allowing you to design processes that balance speed and security. Go to our policy engine guide to learn more about creating custom policies. 

Impacts of the Travel Rule 

BitGo Europe, Singapore, and MENA custodial wallets, both segregated client accounts and client Go Accounts, are subject to the Travel Rule. You will need to provide certain details when withdrawing or receiving digital assets. Learn more about the travel rule here. 

BitGo Managed Fiat Policies

For fiat policy withdrawals, verification policies will be automatically triggered if applicable. Learn more about the BitGo managed fiat withdrawal policies here. 

Best Practices for Security Safeguards

Your security controls should evolve with your business. For best practices around security safeguards, see Policies.