BitGO's Bitcoin Wallet Now Backed by World-Class Insurance
BitGO were the first to pioneer the multi-signature transaction back in August, 2013. Now they're pioneering in security again, with this week's unveiling of a partnership with one of the largest underwriters in the world, XL Group. All users of the hosted wallet service will now be covered up to $250,000 for covered theft claims. Users who require or would like more coverage than that can acquire it at the competitive rate of about 1% per year (in addition to regular monthly fees). $250,000 Theft Insurance for All BitGO Customers. Insuring Bitcoin deposits has long been one of the holy....
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BitGo is announcing they are beginning to offer their services free for individuals. This news comes packed with several updates across the board. BitGo is adding features needed by enterprise customers; these include secure wallet sharing, address labeling and management. On top of it all they offer advanced audit capabilities like transaction memos. These robust features keep BitGo ahead of the pack in security and usability. Also Read: BitGO's Bitcoin Wallet Now Backed by World-Class Insurance. BitGo Free for Individuals. From their release: BitGo®, the leader in bitcoin security, today....
BitGo has allegedly removed a previous blog post about its Bitcoin insurance policy following the recent Bitfinex incident where bitcoins were stolen from BitGo powered wallets. Since Bitfinex lost over $72 million worth of bitcoins in the recent security breach, the focus is now being turned towards its wallet provider as well. BitGo, the Palo Alto-based Bitcoin security firm is responsible for offering Bitcoin wallet services to the affected platform. While Bitfinex continues to investigate the origin of the hacking attack, disgruntled customers have found BitGo making few changes on its....
Institutional clients have shown strong demand for airtight and insured custody options. Digital asset custody firm BitGo has expanded its cold storage insurance program, raising its insurance capacity by $600 million.BitGo debuted its crypto insurance program through global insurance and reinsurance market Lloyd’s of London in 2019. This enabled BitGo clients to acquire insurance for their digital assets held on BitGo’s Business Wallet service and Custodial offering for up to $100 million.BitGo announced Wednesday that its “Dedicated Customer Excess Specie” insurance program has been....
BitGo, a leader in Bitcoin security, announced Tuesday it had secured first-of-its-kind insurance coverage for bitcoin theft from the global, A-rated XL Group insurance companies. With this announcement, BitGo joins the list of industry leaders including Xapo and Coinbase that offer insurance for bitcoin stored using their services. All of BitGo's paying customers are eligible for protection under the XL policy for up to $250,000 in covered theft claims, just by signing up for BitGo services. Customers can increase the amount of protection available to them for an annual fee. "We are proud....
What is possibly the world's most trusted multi-sig wallet provider, BitGo, has announced that individual users can now avail the Bitcoin security features at zero cost. Businesses looking to secure their Bitcoin holdings can also try BitGo's services for free. "We are incredibly excited to now offer the security controls and capabilities of BitGo free to all individual holders of bitcoin," said BitGo CEO Will O'Brien. "BitGo's mission is to secure the world's bitcoin. While historically we have offered advanced wallet services to enterprise customers, we feel it is critical for a growing....