BitGo Casino Payment System: Connect a Modern Financial Platform

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Incorporating the payment system BitGo to a casino is a profitable decision that will attract new paying traffic to the site. This is the audience that prefers fast, secure and anonymous transfers in crypto finances.

Contact a manager of the Casino Market studio and find out more about the features and benefits of the software.

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Key Details about the Group

BitGo was founded in 2013 by Mike Belshe, who is currently the CEO. The activity of the provider is related to the trust management of digital assets and making secure cross-border transfers.

Basic summary of the developer’s activities:

• The firm is headquartered in Palo Alto, California and has 100+ employees. These are experienced programmers, QA engineers, financiers, managers, PR and technical specialists.
• Entrepreneurs can incorporate the financial system BitGo in casinos and bookmaker offices, install the software in marketplaces, and add it to commercial sites (tourism, logistics, paid healthcare). The provider serves hedge funds, insurance companies, and charitable organisations.
• In June 2014, the developer received venture funding from the leading American company Redpoint Ventures. The initial contribution amounted to $12 million. Goldman Sachs (the largest American bank), Jump Capital (venture fund), and Valor (asset management firm) also invested in the modern project.
• In 2021, Galaxy Digital acquired a controlling stake in BitGo for $1.2 billion. The deal was the largest in the history of the cryptocurrency industry. Both enterprises continue to develop under their brands.

Features of the Financial Aggregator

Consider the main reasons why you should connect the service BitGo for your enterprise.

Multi-Currency Environment

The product supports operations in 20+ cryptocurrencies, including:

• Bitcoins;
• Litecoins;
• Thrones;
• Solans;
• Theses;
• Ethereum and other promising tokens.

The modern platform provides fast transmission of funds, their secure storage and hassle-free conversion to fiat money.

Gamers and operators can exchange Blockchain assets for US dollars and euros at a loyal rate. The company plans to add other international and local currencies for conversion soon.

Cross-Platform Environment

BitGo services are available for desktop gambling sites and mobile applications. Players can deposit and withdraw funds directly in the browser window without switching to third-party resources.

The financial aggregator is compatible with iOS, Android, Windows, Linux, and Mac operating systems. The solution works flawlessly on desktop PCs, tablets, Apple devices, and Samsung and Xiaomi smartphones.

Processing of Various Payment Methods

The BitGo portfolio is compatible with 30+ multiple types of operations, including:

• subscription to funds and redemption;
• purchase and sale of digital assets;
• activities for the extraction of crypto finances (mining);
• forks (changes in the rules of the Network) and loans on a wide range of exchanges;
• trading on thematic marketplaces and much more.

Good Audience Response

Installing the BitGo system for a casino attracts users for the following reasons:

Sophisticated Security Architecture

The software manufacturer provides maximum safety for the entrepreneur's belongings and prevents crypto wallets from being hacked:

1. The system supports separate wallets for each client.
2. The storage of digital assets has a multi-signature with keys. They are placed in special class III banking clouds.
3. The developer uses hashing and cryptography functions to ensure the security of funds.
4. Signing a transaction is a strict and carefully controlled process that is carried out using digital signatures.
5. The company has developed procedures for changing personnel, restoring systems if there are local failures, and strict audit logging and access control.

Prestigious Certification

The integration of the platform corresponds to:

• CryptoCurrency Security Standard (CCSS) — recommendations for the secure management of cryptocurrencies;
• Payment Card Industry Data Security Standard (PCI DSS) — the data security standard of the payment card industry;
• Service and Organisation Control 2 (SOC 2) — an international cybersecurity risk management regulation.

Protection of Digital Belongings

The enterprise provides comprehensive services for placing cryptocurrencies in secure Blockchain wallets.

Qualified Key Placement

The BitGo payment system is the world's first financial gateway approved by the South Dakota Banking Authority as a custodian of digital assets.

In 2018, after receiving a certificate of compliance, the enterprise opened a subsidiary under the name BitGo Trust Company. The branch is involved in managing cash flows in crypto finances and saving digital money on virtual wallets.

Features of a qualified placement of Blockchain assets:

1. The resources are localised on separate accounts. They are protected by a proprietary security program using authentic signatures to verify transactions. Access keys are distributed among several entities for comprehensive risk management. Branded wallets usually have three keys: one belongs to BitGo, and the other two belong to the casino operator.
2. Entrepreneurs receive quarterly account statements. This is the summary that details the movement of funds, including the acquisition and sale of cryptocurrency, exchange operations, replenishment of personal accounts by gamers and the withdrawal of funds won, and distribution of bonuses.
3. Multi-level management by control bodies. The activities of the BitGo Trust Company comply with capitalisation requirements, anti-money laundering procedures, confidentiality, and international auditing and financial reporting standards.

The service provides for insurance of the business person's digital assets of $250 million.

Digital savings are protected from:

• third-party hacks of the cold storage environment;
• insider theft of private keys;
• dishonest and incompetent actions of personnel;
• technical hacks due to natural disasters and access violations.

Self-Storage

The BitGo Self-Managed Custody virtual environment is designed for operators in jurisdictions that have regulatory requirements for local digital asset management. Cold wallets are secured with innovative multi-signature technology that eliminates the risk of a single point of failure.

Connecting the payment system BitGo involves the use of three types of keys:

Innovative Services for Managing Blockchain Savings

Connecting the system is available in a package with useful perks:

BitGo Prime

This is a platform for convenient and safe cryptocurrency trading using the best prices and beneficial coefficients.

The program is integrated with popular platforms, so the entrepreneur does not need to install additional software. BitGo Prime acts as an independent counterparty with an immersive pool of exchanges and market makers.

Key advantages of the solution:

1. Increasing the liquidity of the casino business. The operator receives a stable income from digital money trading. The proceeds can be used for strategic development and strengthening of positions in the selected region.
2. Access to competitive prices. An entrepreneur does not need to understand a highly fragmented crypto market, carry out complex calculations and form multi-level analytics. BitGo Prime gives smart tips on how a businessman should act in a particular situation.
3. Round-the-clock support. Each operator is assigned a personal manager. The employee helps with setting up the software, activating exchange operations, an initial adaptation of the client, and making trade settlements.

BitGo Settlement

It is a system of crediting entrepreneurs at minimum interest. The program solves the problem of inefficient distribution of capital and increases the solvency and liquidity of the business.

You can get short-term loans from:

• over-the-counter tables;
• financial exchanges;
• hedge funds;
• broker-dealers;
• payment systems;
• trust companies;
• issuers of security tokens.

Loans are issued in US dollars and 29 digital units. These are Bitcoins, Litecoins, Ether, Ripple and other Blockchain assets.

BitGo Portfolio

This is a module for creating comprehensive reports generated by portfolio, assets and core market positions.

Features of the product:

1. Huge selection of filters. You can create reports by transaction type, cryptocurrency, account, key dates, commission amount, and other basic characteristics.
2. Various presentation formats. Operators have access to cross tables, floating, pie and scatter charts and multi-level reports with different types of data.
3. Creation of regulated forms. Clients can convert transaction information into export-ready audit, regulatory and tax reports. The program supports popular tax base calculation methods — FIFO, LIFO, Highest Cost, Lowest Cost and Average Cost.

How to Connect the BitGo Payment Service

The manufacturer provides a simple and reliable RESTful API client environment for integrating digital wallets with a gambling website or mobile application.

Basic features of RESTful API:

• creation of wallets with multiple signatures;
• formation of a list of balances;
• identification and verification of transactions;
• tracking operations and receiving notifications;
• secure authentication of gamers;
• running multi-user processes in corporate environments;
• applying policies and spending limits, and much more.

RESTful API client environment improves validation of operational requests and speeds up the implementation of tasks on the server-side.

The Main Things about Installing the Financial Aggregator

BitGo is a worldwide provider of money instalment services for online businesses. The main activities of the group are concentrated on operations in digitised funds.

• The benefits of proprietary software include multicurrency, a cross-platform environment, and various payment methods. The solution is distinguished by a well-thought-out security architecture, considering external and internal risks, and prestigious certification.
• The company provides excellent storage services that can hold digital assets. Customers order qualified key placement and self-storage using a special signature. The developer ensures deposits in cryptocurrency for up to $250 million.
• The product line includes a platform for trading on Blockchain exchanges (BitGo Prime), a lending service (BitGo Settlement) and a reporting module (BitGo Portfolio).

You can request programs for monetary transactions at the Casino Market studio. We offer different installation formats. This is an independent gateway, a turnkey online casino and a White Label licensed platform with support for the BitGo transactions.

Casino Market provides useful gambling services:

• creation of a customised internet casino;
• work on the HTML5 slots from the individual sketches;
• assistance in entrepreneurship licensing;
• marketing promotion of iGaming projects and much more.

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James Burton The Casino Market partner, the owner of the gambling establishments’ network

Have questions or want to order services?
Contact our consultants:

• e-mail: manager@casino-market.com
• Skype: support.casinosupermarket
• feedback form.