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BitGo Enters Cold Storage Crypto Trading

written by

Harold Vandelay

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BITCOIN NEWS,
January 18, 2019

A company which already has enticed both Galaxy Digital Ventures and Goldman Sachs in the past has developed a platform enabling clients to trade cryptocurrency straight from cold storage.

Palo Alto-based crypto storage firm BitGo has announced the new service just days after the hacking of cryptocurrency exchange Cryptopia which saw more than ETH 19,391 (USD 2.4 million) and Centrality tokens worth USD 1.18 million transferred to unknown wallets.

Bitgo has chosen Genesis Global Trading for the service which ensures that customer buy and sell orders will never leave cold storage as SEC and FINRA regulated Genesis hold a cold storage wallet with BitGo. Mike Novogratz, Bitcoin pundit and CEO of Galaxy Digital Holdings Ltd, claims these types of storage solutions could easily promote the next bull run, commenting:

“I think the next move up is going to need custody from a trusting source… It’s going to need a little more regulatory clarity… We wouldn’t take out USD 10,000 without those two things because that’s what brings the institutional investors in. But we’re going to get there.”

BitGo has announced that Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, and ZCash will all be available under the new system

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Harold Vandelay

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