Achieve both security and convenience with the "MPC Wallet"—a new option for Bitget Wallet

Bitget Wallet is a trading wallet that has continuously addressed asset management challenges in the Web3 industry. In July of last year, it introduced an account abstraction (AA) wallet on the Starknet mainnet, and based on that experience, it released an even more advanced MPC wallet. This MPC technology surpasses the limitations of traditional wallet designs and offers a new approach that balances security and usability.

The biggest challenge faced by Web3 users is managing complex mnemonic phrases and securely storing private keys. The MPC wallet provided by Bitget Wallet offers an innovative solution to this problem.

An Innovation That Eliminates the Need for Mnemonics and Lowers Web3 Barriers

Traditional EOA wallets required users to record and securely manage mnemonic phrases composed of multiple English words. This process is burdensome for beginners and has been a barrier to entry into Web3.

Bitget Wallet’s MPC wallet fundamentally changes this process. Using multi-party computation (MPC) technology, it disperses the private key into multiple shares, enabling a “mnemonic-free” user experience. Users can set up their wallet with just an email address and an 8-digit password.

This design allows users to connect to Web3 with the same ease as Web2 applications. Beginners can avoid complex procedures and smoothly transition into the world of digital assets.

The Principles of MPC Technology—Distributed Key Management System

Understanding the strength of the MPC wallet requires knowledge of its technical foundation. Conventional wallets stored private keys in a single device, which posed a risk: if that device was compromised, all assets could be at risk.

Bitget Wallet’s MPC wallet adopts distributed key generation (DKG) technology to split the private key into multiple shares. Each share is stored in a different location, and signatures are only generated when multiple parties cooperate. This approach eliminates a single point of failure and significantly reduces the risk of private key leakage.

Key generation takes about one minute, a necessary process to ensure advanced security capable of resisting quantum attacks. The resulting public-private key pair is based on the highest cryptographic standards and designed to withstand future threats.

Industry-Leading Security Design and Its Mechanisms

Many MPC wallets face a trade-off between security and convenience. Some prioritize simplicity by integrating with exchanges, which can lead to insufficient risk dispersion.

Bitget Wallet’s MPC wallet addresses this by using the threshold signature scheme (TSS) protocol as its core. TSS is a signature method that meets the industry’s highest security standards, allowing multiple parties to collaboratively sign without exposing the private key.

Specifically, it leverages homomorphic encryption to perform calculations on encrypted data. With a threshold of 2/3, any two of the three key shares can produce a signature, avoiding single points of failure and enabling joint management by users and platforms.

Additionally, it features a “re-sharing” function that automatically invalidates old device key shares when connecting to a new device. This prevents the risk of key shares remaining on lost or compromised devices, strengthening security in case of device loss.

User Control via the 2/3 Signature Mechanism

The 2/3 signature mechanism used by Bitget Wallet’s MPC wallet is an enterprise-grade technology made accessible to everyday users.

The three key shares are stored as follows:

• One share is kept on the user’s smartphone, accessible only by the user.
• The second is stored on Bitget Wallet’s servers and requires user approval for signing.
• The third is saved on backup servers like iCloud or Google Drive, not used for daily signing but necessary for wallet recovery.

This setup ensures that both the user and the platform share control over the private key, and neither can access funds alone. It balances security and flexibility.

Furthermore, an independent transaction password feature prevents the server-held key shares from participating in signing without user approval. This multi-layered defense minimizes risks of leaks or hacking.

Building an MPC Wallet in 5 Simple Steps

Setting up an MPC wallet via the Bitget Wallet app is surprisingly straightforward.

Step 1: Select Wallet Type
From the app’s wallet creation screen, choose “MPC Wallet.”

Step 2: Set Security Code
Create and confirm a 4-6 digit PIN code. If you are already a Bitget Wallet user, you can use your existing PIN.

Step 3: Register Email Address
Enter an email address linked to the key share. Choose an active, reliable email, as it will be important for recovery. The system will send a verification code to this email, which you must confirm.

Step 4: Set Transaction Password
Create and confirm an 8-digit numeric password. This password is required for wallet recovery, so keep it secure. Enabling Face ID is also recommended for easier daily authentication.

Step 5: Wait for Key Share Generation
The system will begin generating a secure key share. After about one minute, the wallet setup completes. When “MPC Wallet” appears on the home screen, setup is successful.

Secure Backup and Recovery via Cloud Storage

Another advantage of MPC technology is that backup and recovery processes are greatly simplified.

Performing Backup
From the wallet home screen, select “Backup in 1 Minute,” then choose a cloud provider like iCloud or Google Drive. Tap the authentication button to automatically back up, and you will receive a completion notification.

Wallet Recovery
If the app is deleted or the device is lost, you can restore from the cloud backup. The process is as follows:

Reinstall Bitget Wallet on a new device, select “Import Wallet” → “MPC Wallet.” Enter your previously set PIN and transaction password, then specify your registered email address.

Enter the verification code sent to your email, then re-enter your transaction password. The system will regenerate the key shares in the new environment, completing recovery. During this process, any key shares remaining on the old device are automatically invalidated, ensuring security.

After recovery, it is recommended to perform a new backup to ensure the latest key shares are stored securely in the cloud.

The Future of MPC Wallets

Bitget Wallet’s MPC wallet is not just a technical improvement but a democratization of Web3 access. Forgetting complex key phrases, worrying about device loss, or struggling with security settings—all these issues become a thing of the past.

By adopting familiar Web2 authentication methods like passwords and email, combined with enterprise-grade security, this system benefits both beginners and experienced users.

Bitget Wallet will continue to optimize MPC technology and improve usability, creating a more secure environment for managing digital assets for more users.