ETH Feature Updates

At BitGo, we’re always improving our products to better serve our clients, developers and users. Below are our recent Ethereum wallet new features and updates.

1. Defaulting to Reduced Fee Wallets

We are making our latest Ethereum multisig wallet contract the default, when creating a wallet on the BitGo platform (UI and API). All new ETH wallets will cost up to 87% less than before.

2. Defaulting to Reduced Fee Receive Addresses

We are also making our latest Ethereum forwarder, which acts as a receive address and forwards assets to the base address, the default on the BitGo platform (UI and API). All new ETH receive addresses will cost up to 68% less than before (if created from a new ETH wallet).

3. Ethereum Batch Sending

Customers using BitGo’s Ethereum wallets via API can now batch send ETH to multiple addresses (up to 255). Batch sends get you economies of scale. For example, if you were to send 10 transfers, this new feature saves you 89% in fees compared to before. Even when comparing against single signature transactions, this feature would save up to 47% in fees.

4. Manual Deploy API

Network fees can be unpredictable and change very rapidly. If you use an oracle today (or run a node), you can spot opportune times when fees are low. We’re now providing customers the ability to pause automatic deployment of receive addresses (and flush transactions) and deploy them when fees are low. This allows you to effectively time the market to optimize fees spent on transactions further.

5. Ethereum Name Service Support

All users can now send to an Ethereum Name Service address (ENS) on the BitGo platform (UI and API).

FAQs

Ethereum Name Service Support

How does it work?

Users can simply enter an ENS domain as their destination address in the UI or API

Can I add an ENS to my wallet?

We do not currently support adding an ENS to a BitGo wallet in our product.

If I send an ENS over to a BitGo wallet, can I see transactions sent to my domain?

Currently, we will only show transactions to the address that your ENS domain resolves to. This will likely be your base Ethereum wallet address if you purchased a domain and transferred it over to a BitGo wallet.

What will transactions to an ENS domain look like in reports?

Since ENS domains can transfer ownership (and expire), we will keep the address that the ENS domain resolves to in your reports. This way, even years down the road, you can still map your history to a unique and specific address.

Can I whitelist an ENS domain in BitGo?

Not at this time because the domain may expire in the future.

Defaulting to Reduced Fee Wallets

What changes were made to improve fees?

For more detailed information please view this wallet guide for more details.

How does it work?

When you create a new Ethereum wallet, we will default you to the new wallet smart contract version. Practically, this means that we will be creating an on-chain transaction (that’s a fraction of the size of our previous version) that deploys your multisig Ethereum wallet.

What if I want to create the previous wallet version?

If you interact with BitGo’s Ethereum wallet services via API, you can specify the `walletVersion: 0` in the Wallet Creation API. If you want to create via UI, please contact BitGo.

What will change in terms of Ethereum wallet management?

Nothing will change to your Ethereum wallet features. You’ll still be able to leverage our multisig, forwarders (receive addresses), ethereum gas tank, and policies.

Defaulting to Reduced Fee Receive Addresses

What changes were made to improve fees?

For more detailed information please view this wallet guide for more details.

How does it work?

Provided that you’ve either created a new Ethereum wallet (or using the new version already), you can now create a receive address and benefit from the fee reduction.

Are there any notable differences between the new and old receive addresses?

Yes, the old receive addresses were deployed on-chain at time of creation (regardless of usage). So you could end up having sunk cost, if you never make use of them. New receive addresses will only be deployed when funds are received to the receive address, so you only pay for the address you use.

What if I want to create the previous forwarder version?

If you interact with BitGo’s Ethereum wallet services via API, you can specify ‘forwarderVersion: 0’ in the Receive Address Creation API.

Ethereum Batch Sending

How does it work?

For API users, you can specify multiple addresses in the Send Many API. Now, when you send a transaction to a batch of addresses, you will end up with a single transaction after the API call.

What assets can we batch send to multiple addresses?

At the moment, we only support batch sending for Ethereum (ETH).

Is there a limit to the number of addresses you can send to?

Yes, we have a limit of 255 addresses.

What happens if I include a non-whitelisted address in the batch?

The transaction will require an approval. Once the approval is done BitGo will sign and submit the transaction to the network

Manual Deploy API

How does it work?

Here are the main components to this feature.

• Assuming network fees are high and you’ve made the judgment call to wait until fees come down, you can start by pausing automatic receive address creation (forwarders) and flushes. You can find the API here.

• If you want to pause both address creation and flushes, set `deployForwardersManually = true` and `flushForwardersManually = true`

• When fees are sufficiently low, you will then want to find all addresses that have yet to be deployed on chain. You can find the API here.

• You’ll want to set `pendingDeployment = true`

• Once you have your list of addresses that you want to deploy, you need to deploy them on chain. You can find the API here.

• Lastly, once the addresses have initialized and become contracts on chain, you can flush funds sent to the address back to your base wallet. You can find the API here. You can find the API here.

For more ways to better manage your BitGo Ethereum Wallet click here.