BitGo Enhances Its Security With Ledger’s Hardware Based Key Storage

Journalist:
January 28, 2017

BitGo, a multi-signature bitcoin wallet pioneer, will offer Ledger’s hardware-based key storage, Mike Belshe, BitGo’s co-founder and CEO, announced in a blog on the company website. The integration is available for the Ledger Nano S and Nano Blue.

BitGo’s wallet protects against loss and theft with features like webhooks, multi-user approvals, rate limits, address blacklists and whitelists, and more. The integration with Ledger, a provider of hardware solutions for key management and endpoint security, now allows BitGo customers to signature keys in an offline device, providing extra protection from malware and other attack vectors.

Improved Asset Security

The integration will be an easy choice for BitGo customers to improve asset security. It will provide peace of mind to digital currency users.

Ledger’s core technology is a low footprint embedded operating system built for CPU enclaves and secure elements, according to the company website. It creates solutions to integrate the physical world with blockchain technology, including personal security devices, hardware security modules for servers, and hardware oracles for connected objects, machines and the Internet of Things.

BitGo is offering a 15% discount for customers who buy a Ledger Nano S or Blue for a limited time. Customers interested in taking advantage of the offer should use the promo code, BITGO15.

Also read: BitGo’s bitcoin wallet now backed by world class insurance

A Multi-Sig Transaction Pioneer

BitGo pioneered the multi-signature transaction in 2013. In 2015, it partnered with XL Group, an insurer, to provide up to $250,000 coverage for theft claims, another pioneering move for the bitcoin industry.

That same year, CoinHako, a Singapore-based exchange, contracted with BitGo to secure its wallet, pointing out they could insure customer holdings against loss by hacking or theft on account of the XL Group coverage.

In 2016, BitGo introduced BitGo Instant, offering an immediate settlement of bitcoin transactions. The service guaranteed recipients a compensation if the transaction was not confirmed by the blockchain.

Featured image from Ledger.

Lester Coleman

Lester Coleman is a media relations consultant for the payments and automated retailing industries.