To securely store funds in an BitGo wallet, users can apply multiple wallet policies based on their usage and requirements. We highly recommend applying the following policies to your wallets:
The BitGo web wallet lets users add following policies to their wallets:
Approve All Outgoing Transactions - Users can require every outgoing transaction from their wallet to require admin approval.
Multiple Approvers - Users can require N of M admin approvals on transactions or wallet changes. By default, we require 1 admin approval. However, this policy allows you to require more than one admin approval. To use this policy requires a minimum of 3 admins. Please note, if any admin initiates a withdrawal or wallet change, they cannot approve it themselves.
Spending Limits - Users can manage your spending limit for a given wallet with this feature. It can be set at different velocities such as by the hour, by the day, and/or by the transaction.
Whitelist - Users can manage a list of approved recipient addresses with this feature.
Please keep in mind that wallet policies will automatically lock after 48 hours upon your initial policy setting. As a Pay As You Go customer, you are not able to make any changes or unlock your wallet policies.