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I want to use https://www.bitgo.com api for my bitcoin payment.

My Questions :

  1. Is this api working at this time?
  2. Is this api free?
  3. What are limitations about using this api?

EDIT :

I have 1000 customers in my web site.
I want create a wallet in BitGo and create a unique bitcoin address for every customer and handle deposit and withdraw from that address.
Now tell me how much do these jobs cost & what are limitations about it!

1 Answer 1

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You didn't provide a lot of information on the scope of your needs, but it depends on what you're trying to find a solution for. BitGo is not a payment processor, it's a business-to-business service provider.

Institutional investors and Service Providers

On their website, under "Who We Serve" they list "Asset Managers, Banks, Exchanges, and Payment Processors" etc. as their customers.

  1. Is this api working at this time?
    Yes, BitGo is up and running according to status.bitgo.com.
  2. Is this api free?
    There are a few public endpoints that are free, but BitGo's wallet service is not free. For their "Pay As You Go"-plan, the customer pays a fee relative to the sent amount with every payment to BitGo. For the enterprise plan, the fee is a mix of a fixed amount every month and a relative fee.
  3. What are limitations about using this api?
    This one is hard to answer, because you didn't tell us what you want to do. The company is targeting exchanges and other financial institutions as their customers. If you're looking to manage millions of addresses, automate a high volume of payments, and want to add the security benefits of a multisig setup, it may be a good fit. If you're just looking for a payment processor, you may want to consider e.g. BTCPayServer instead.

Disclaimer: I'm a former employee of BitGo.

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  • I have 1000 customers in my web site - I want create a wallet in BitGo and create a unique bitcoin address for every customer and handle deposit and withdraw from that address. Now tell me how much do these jobs cost & what are limitations about it! Jan 5, 2022 at 14:11
  • That would be something that you could do easily with a BitGo wallet. You'd probably want to go with the "Pay as you Go" offer there. IIRC, at some point the fees were 0.25% on every payment.
    – Murch
    Jan 5, 2022 at 14:25
  • "Pay as you Go" > Where is this link on that web site? I created an account in there and create a wallet for bitcoin. What is the amount limit on this wallet during transactions? Jan 5, 2022 at 15:10
  • If you make a regular account, you're using "Pay as you Go". You'd need to meet a sales person and make a contract otherwise, and you'd know if you did that. I don't think there is a limit for the amounts. I found on bitgo.com/services/custody/wallet-platform, that BitGo's fee is indeed 0.25% on each send (in addition to the transaction fees paid to the miners).
    – Murch
    Jan 5, 2022 at 15:17

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