Wallets Overview
Overview
BitGo wallets leverage either multisignature or multiparty computation (MPC) technology. For MPC wallets, BitGo specifically uses threshold signature scheme (TSS). Every BitGo Wallet Type has the following 3 keys:
- User key
- Backup key
- BitGo key
Normal transactions complete the 2-of-3 signature using the user key and the BitGo key. However, you can also complete the 2-of-3 signature using the backup key and either of the other 2 keys.
With self-managed wallets, BitGo never has access to your private user or backup keys. You create keys client side and only pass to BitGo an encrypted user key and the public backup key. All self-managed wallets from BitGo are compatible with key-recovery services. In addition, you can set up an external-signer mode for your self-managed hot wallets, adding an another layer of security.
Every wallet at BitGo comes with out-of-the-box node infrastructure. BitGo submits all transactions onchain, creating web notifications, so you don't have to maintain your own node infrastructure.
Once you create wallets, you can invite users in your enterprise to join the wallet and assign them certain privileges. You can enhance security by configuring transaction policies, whitelists, and approval requirements, enabling your digital assets to move seamlessly and reliably.
Prerequisites
Steps
- Create Wallets
- Create Addresses
- Create Wallet Whitelists (Optional)
- Add Wallet Users (Optional)