Payment Service for Casinos BitGo: Connect Decent Tools
Cryptocurrency is one of the main trends of this decade in the gambling industry. Entrepreneurs cannot do without fast and secure Blockchain payments that will make the casino business better, more profitable and attractive to investors.
The CASEXE studio offers you to buy the financial service BitGo. The program supports secure crypto transactions. Additionally, it contains options for trading and storing NFT assets.
Key Facts about the Brand
BitGo is an international company headquartered in Palo Alto, California. Its activities are related to the development of software for crypto payments, storage of digital assets, and support for secure investment and exchange procedures.
The organisation was founded in 2013. For 10 years, it managed to take a leading position in the Blockchain market and sign agreements with many well-known brands.
The provider's annual turnover is over $860.4 million. These are mainly exchange operations, the purchase and sale of digital assets, and investment in NFT projects. More than 20% of all global Bitcoin transactions go through secure BitGo neural networks. The company works with both large businesses and individuals. Over 600 digital assets are integrated into the platform. BTC can be exchanged for LTC, ETH, and other promising tokens. The supplier provides institutional custody services for 35% of crypto exchanges. Assets are protected from theft thanks to multi-signature technology and the placement of access keys on different platforms. The company works with clients from 50 countries. These are large and medium businesses from Europe, Asia, and North America.
The list of the developer’s clients and B2B partners includes:
Nike; Bitcoin IRA; SoFi; Bullish; Galaxy Digital, and others.
The integration of BitGo’s proprietary money-transfer tool will be an excellent solution for scaling your business. The product allows operators to quickly enter a highly competitive market and attract solvent internet traffic. The program is suitable for mobile casinos, binary options trading platforms, and bookmaker projects.
The financial gateway is successfully used in the gambling field, e-commerce, online education, investment, trading, tourism, and other industries involving electronic payments.
Features of the Crypto Wallet
The enterprise offers a universal service for safe work with digital assets.
The connection of BitGo’s decent solutions will allow entrepreneurs to freely accept deposits in cryptocurrency, accrue and pay out bonuses, as well as make settlements with B2B partners.
The features of the proprietary system are as follows:
| Multicurrency environment | The solution was created as a BTC storage. Over time, the range of services provided by the company has expanded. New digital monetary units have appeared in a secure environment. Today, the platform supports over 600 crypto tokens. The lion's share of transactions takes place in BTC, LTC, and ETH |
| Versatility | It is possible to incorporate the financial program in 2 versions: for private and business use. The first option is suitable for individuals (gamers) and small businesses with a moderate monthly turnover. The second version provides a large selection of settings and access to many international crypto exchanges |
| Cross-platform work | The incorporation of the proprietary money-transfer tool is possible with different types of devices. These are smartphones, tablets, laptops, and desktop PCs. The mobile version of the BitGo application allows gamers and operators to store Blockchain keys on their phones. It is convenient due to instant access to the system with a couple of touches |
| Convenient management | The digital wallet can be linked to a casino's CRM system. This will improve the administration of the gambling site, facilitate the formation of accounting and financial documentation, as well as provide detailed statistical data on the main KPIs of the enterprise |
Institutional Storage of Digital Assets
The incorporation of BitGo’s system into gaming sites is available along with several wallet options:
Hot. Such accounts are suitable for effective money management and fast transfers from anywhere in the world. The Blockchain wallet provides 3 access levels with dedicated keys on each of them. A client receives 2 passwords: user and reserve. BitGo stores one more code for instant access to the platform. Cold. The solution is characterised by increased security because access keys are localised in the land-based physical storage. It is isolated from the Internet. Therefore, fraudsters will not be able to hack into the Network, copy data, and perform other illegal activities. The company's repository is located in South Dakota at the regional banking office. NFT wallets. These are savings platforms for storing non-fungible tokens. In the gambling field, these are unique slots, bonuses, promotions, game items, and characters. The BitGo instrument for conducting iGaming payments implies popular Blockchain protocols. Most often these are ERC-721, ERC-1155, and CryptoPunks. The platform is compatible with NFT exchanges.
Regardless of the wallet, an operator is guaranteed to receive an insurance policy warranty when connecting BitGo’s web casino payment service.
The $250 million service covers contingencies related to:
unauthorised copying and theft of private access keys to hot, cold, and NFT wallets; loss of keys to cold wallets as a result of natural disasters (fires, earthquakes, hurricanes, etc.); the theft of confidential information; incompetent actions of employees; hacker attacks and technical failures in the payment gateway.
The provider offers one of the highest sums in the cryptocurrency market.
Entrepreneurs can buy an additional insurance policy from BitGo's business partners, the largest syndicates Lloyd's of London and the European Marketplace. The warranty covers credit and debit card fraud, theft of private data, and loss of access keys to Blockchain storage.
Security of the Financial Gateway
BitGo’s payment tool for gaming sites is characterised by good protection and instant response to any actions of intruders.
The main security mechanisms in BitGo are as follows:
the maintenance of individual crypto wallets for each client (operators, B2B partners); the localisation of cold wallets in standalone mode in specially built bank storages; signing transactions through a strict authentication process (the confirmation of large transfers can take up to 24 hours); an annual security audit by third-party licensed organisations.
The incorporation of the tools from BitGo is based on modern crypto technologies:
| TSS (Threshold Signature Scheme) | This method is used for generating cryptographic keys and their signatures. Several independent users participate in the creation of a unique code. Each of them works anonymously and has its share of the secret signature. When folding all parts of the password, the transaction is automatically approved. After that, the selected amount is transferred to the account of an administrator or a gamer |
| Multi-signature | After integrating the system for financial processes from BitGo, this technology is activated. Each operation is approved by several private keys. This increases the security level of an iGaming project and the confidentiality of user data |
| SHA-256 | The cryptographic algorithm converts transaction data into a unique code. This allows operators and gamers to view the information but not delete or modify it. The SHA-256 algorithm is used for Bitcoin transactions. LTC, ETH, and other cryptos use similar encryption models |
How to Connect the Payment Service?
The installation of the financial gateway is available with additional business services:
Staking. Operators receive modern tools for storing cryptocurrencies in cold wallets. This approach has become an alternative to mining. It provides entrepreneurs with a good passive income. To receive tokens, powerful equipment and electricity costs are not required. It is enough to store already created tokens in secure wallets. DeFi services. BitGo’s payment system for web-based casinos comes with decentralised financial instruments. Their main task is to become an alternative to the traditional banking sector and offer effective mechanisms for managing funds. Operators will benefit from the MakerDAO system for attracting credits in crypto units. The services Instadapp, BlockFi, and Compound, integrated into the BitGo platform, allow for drawing on credit and placing Blockchain deposits at 6% per annum. Trading. The proprietary software BitGo Prime increases the liquidity of a casino business through daily asset trading on crypto exchanges. Funds from the operator's cold and hot wallets are used. A percentage of successful transactions is also calculated here.
The Main Things about the Integration of the Financial Gateway
The BitGo service occupies a leading position in the Blockchain transfer market.
The incorporation of the branded program will expand the range of services in an online casino, attract new solvent traffic to the site, and increase the profitability of the gambling business. Settlements in digital money attract gamers with anonymity, high speed, and accessibility from anywhere in the world. The advantages of the software include cross-platform work, multi-currency support, universal solutions, and simple administration. The software is highly secure. The developer uses TSS and Multi-Sig technologies to confirm operations. Transaction data is encrypted using cryptography. Therefore, it cannot be faked up or deleted. The supplier provides institutional storage services. An operator can place savings in cold, hot, and NFT wallets. Software installation is available in a package with DeFi decentralised banking services, tools for staking, and crypto trading.
You can buy the proprietary payment gateway at CASEXE. We will select the best solutions on the market for you, set up exchange operations, and take care of the smooth and safe functioning of financial services.
CASEXE provides the following useful services:
turnkey web casino development; White Label platform installation; the integration of certified games; the promotion of gaming portals, etc.
Learn more from our consultants.
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