BitGo launches Bitcoin wallet Ordinals security feature
New feature also allows users to make their own Inscriptions
BitGo, a company with 10 years of history in the crypto space, announced new security features for their Bitcoin hot wallets which protects users from the accidental loss of inscribed satoshis.
As other Bitcoin wallets currently treat inscribed satoshis exactly like regular sats, it’s all too easy for users to accidentally include their precious inscriptions as part of a larger transaction, or even send them to miners as fees. Any transaction sent to BitGo’s wallet will now be scanned for inscriptions and, if any are detected, the corresponding satoshis will be automatically locked in place. If the popularity of Bitcoin Ordinals continues to grow, expect BitGo’s solution to be emulated by other wallet developers.
A couple of other useful features which BitGo have implemented are the ability for users to elect to send their inscribed sats to other addresses securely, and to inscribe their own satoshis with custom content. Hopefully BitGo’s latest offering will simply the Inscription process and allow new users to create, store, and trade their inscriptions with greater ease and safety.
Yesterday, Chen Fang, Bitgo’s Chief Operating Officer, made the following statement regarding the new features:
“Bitcoin Ordinals brought an entirely new layer of engagement to the Bitcoin Network but, upon launch, the surrounding ecosystem missed key security components to ensure high-value Ordinals inscriptions were safeguarded. That’s why we’re very excited to announce the release of Bitgo’s solution to securely store inscriptions and prevent them from being accidentally transferred or sent to mining fees.”