Fearing Security Breaches, BitGo Enhances Security setup of Multi-sig Wallet

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Fearing Security Breaches, BitGo Enhances Security setup of Multi-sig Wallet

Access security controls previously limited to enterprises has now been given to consumers by the multi-sig wallet provider BitGo. In due course the company brought in a series of updates that are going to enhance the overall security of its multi-user Bitcoin wallets that are becoming popular among the users who feel unsafe with other Bitcoin wallet providers.

BitGo claims to be the leading Bitcoin security platform and a pioneer of multi-sig technology, is based in Palo Alto. When it launched the first ever multi-signature Bitcoin wallet in 2013, it was known for bringing up tight and secure Bitcoin wallet for the users; however, now that the security is being breached by hackers, it is trying every now and then to update the setup.

Innovative Security Services for the Customers looking for Bitcoin Storage

The Bitcoin wallet provider continues to create innovative security services on top of emerging industry standards. Also, the company operates a security-as-a-service platform that powers the industry’s most secure, enterprise Bitcoin wallet with solutions for corporate treasury and key management.

Nonetheless, as BitGo was founded by veterans in online security, digital currency, and financial technology, it knows how to provide best in the industry solution for those who fear that their Bitcoin may get hacked. Also, as the investors and advisors come from elite Silicon Valley venture capitalists and angels, and Bitcoin industry insiders, they know security well.

Most of the people behind BitGo have backed successful companies like PayPal, Netscape, Red Hat, Proofpoint, VeriSign, Juniper Networks, Yammer, and Tesla, etc. amongst others at some point of time. The experience is now being used at BitGo for better security and higher satisfaction among the users who are hiring it for Bitcoin storage.

Company Aims to Secure the World’s Bitcoin Says BitGo CEO

According to the announcement from the BitGo the user upgrade has also seen the addition of “key features requested by enterprise customers”, including secure wallet sharing, address labeling and advanced auditing capabilities. Will O’Brien, CEO at BitGo, says that the company’s mission is to secure the world’s Bitcoin.

He further stresses that his company is incredibly excited to offer the security controls and capabilities of BitGo free to all individual holders of Bitcoin. Additionally, by updating its commercial pricing policy, BitGo is also offering its services for free to individual users and allowing businesses to enjoy a free month’s trial.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com