Crypto.com’s insurance programme is regarded as one of the largest in the industry. In 2021, Crypto.com announced that it has expanded its total insurance coverage to USD $750 million, after increasing its policy coverage led by Arch Underwriting at Lloyd’s Syndicate 2012.
The renewed policy, effective 6 September 2021, makes Crypto.com’s insurance programme one of the largest in the industry. The insurance program insures Crypto.com will provide protection for the cryptocurrency exchange’s estimated 100 million users. This will significantly expand security protection for Crypto.com’s growing user base.
Are My Funds in Crypto.com App Insured?
Crypto.com is committed to the security of its platform and believes in a proactive “Defense in Depth” culture approach, where we embed a security growth mindset into all aspects of our business processes.
This policy is the largest coverage that Crypto.com has ever secured for its cold storage assets on Ledger Vault, the company’s custodial partner. It brings Crypto.com’s total cryptocurrency insurance to USD $750M, including both direct and indirect custodian coverage.
Crypto.com’s more than 10 million users can rest assured knowing they are protected by one of the industry’s biggest insurance policies offering protection against physical damage or destruction, and third-party theft.
Is Your Money Insured With Crypto Com?
Users’ fiat currencies are held in regulated custodian bank accounts. If you are a U.S. resident, your USD balances are held at Metropolitan Commercial Bank, an FDIC member and insured depository institution. Your USD balances held at Metropolitan Commercial Bank are insured up to USD $250,000.
Is it safe to keep my crypto on Crypto com?
At Crypto.com, we have taken many measures to ensure the protection of customer funds. After rigorous security audits by a team of cybersecurity and compliance experts, Crypto.com is the first crypto company in the world to have obtained ISO/IEC 27701:2019, ISO22301:2019, ISO27001:2013 and PCI:DSS 3.2.
Can Crypto be Insured?
Yes, your crypto assets and other digital assets can be insured. Cryptocurrency Insurance protects against losses associated with cybersecurity breaches. Most cryptocurrency exchanges provide at least some insurance to protect digital assets against losses from security breaches and theft.
How Do I Secure My Crypto Account?
The best way to secure your crypto account is to get a personal crypto insurance policy with Cryptocurrencyinsurance.io. You can also use MFA, such as Google Authenticator or Okta, adds an extra layer of security to your account. Requiring an additional generated code when signing in to a new device, or performing important actions in the app (like making a withdrawal), is a simple way to keep your account safe.
Get the best individual crypto insurance for all your crypto assets and digital assets on Cryptocurrencyinsurance.io. You can also get business crypto insurance for your cryptocurrency exchange and crypto business. Visit: www.cryptocurrencyinsurance.io.