Creating a Wallet

Modified on Wed, 15 Jul at 3:50 PM

Creating a Wallet

Navigate to the PortfolioWallets tab, on the left hand side of the navigation bar and select + New Wallet to get started.

You will be presented with a threefour step process to create a wallet. You will need to decide:

Enter Wallet Details — Choose a name for your wallet and select the asset it will hold
Select Key Custody Options — Choose who holds the controlling share of keys: BitGo, yourself, or a combination of both
Review Wallet — Confirm your wallet details before creation, including:
1. Asset and Wallet Type
2. Wallet Name
3. Key Management Owner
4. Signature Type (Multisig or MPC)

Choosing a Wallet Type

For each coin you wish to enable on your account, you will need to create a wallet. BitGo offers the following wallets.

Type	Details
Self-Custody Hot Wallets	You are responsible for securing both the main private key and backup key for the wallet (for the backup key, you may opt out to use a third party that BitGo partners with). BitGo holds a key to co-sign all transactions.
Self-Custody Cold Wallets	You are responsible for securing both the main user private key and backup private key for the wallet. Here, you generate keys and sign using the Offline Vault Console. BitGo holds a key to co-sign all transactions.
Custody Wallets	Segregated cold storage in which BitGo manages all of the private keys. Certain services may not be available in your jurisdiction, please check with your Customer Success Manager for further details. Because withdrawals may require video identification and have a 24-hr SLA, these wallets may be used for safekeeping rather than high transaction volumes.
Go Account	A Go Account is a cold storage, multi-asset wallet that is able to hold fiat and digital assets where BitGo manages all of the private keys. Go Accounts enable clients to utilize trading and Go Network (DVP and Off-Exchange Settlement). Asset ownership is tracked via ledger technology and all transfers are executed off-chain. Transfers are only executed on-chain when they are done from your Go Account to another BitGo wallet address (non-Go Account) or non-BitGo wallet address.