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Bitcoin theft Insurance

Bitcoin and cryptocurrency exchanges and wallets offer limited protection to users. And now there is an option if you are looking to purchase personal coverage. Investors who own conventional securities, like stocks or bonds, can rely on a level of protective regulation and insurance backing. either through the government or private policies. Investors in cryptocurrency also now have the same protections, thanks to Cryptocurrencyinsurance.io.

While there has been demand for cryptocurrency insurance to cover everything from deposits to theft, the main concern is underwriting risks. Major insurance companies did not feel they could accurately assess risk factors. This is due to a lack of cohesive rules and regulation in the crypto insurance industry. Though newer insurers are diving in headfirst, others are merely dipping their toes to test the temperature.

Given the level of unpredictability in a developing industry, how do you know if your cryptocurrency is safeguarded? And if it is not, can you insure it? Here is everything you need to know about the new world of cryptocurrency insurance.

Does Private Insurance Exist for Cryptocurrency?

Yes, but it is still an emerging industry. But thanks to Cryptocurrencyinsurance.io, the protection is unlimited. All crypto assets are currently covered by cryptocurrencyinsurance.io.

The types of private crypto insurance that exist today are currently targeted for private consumers, crypto exchanges, cryptocurrency market and crypto wallets. The coverage includes crime and theft, custodial insurance coverage and business insurance. Cryptocurrencyinsurance.io
insurance cover also includes decentralized finance, or “DeFi,” insurance. This provides coverage for loss of funds due to lost private crypto keys or service provider shutdown.

Can You Purchase Personal Crypto Insurance?

Yes. As far as we can tell, there is only one carrier that includes direct-to-consumer offerings. Cryptocurrencyinsurance.io crypto insurance product is the first regulated insurance product for crypto investors.

Cryptocurrencyinsurance.io currently covers all types of coins; including bitcoin, ethereum and dogecoin. Cryptocurrencyinsurance.io also insures crypto stored in third-party wallets, and those in crypto exchanges. Cryptocurrencyinsurance.io offers a theft insurance policy, meaning it will cover hacks and exploitation of exchange’s wallets.

It does not matter whether your crypto is held in hot or cold storage. Policies run anywhere from $5,000 worth of coverage to $10 million. You can also choose your deductible percentage of the policy amount.

Apart from Cryptocurrencyinsurance.io, there are no other insurers currently selling comprehensive crypto insurance policies to consumers. Cryptocurrencyinsurance.io appears to be the only crypto insurance industry selling individual policies for private consumers.

Do Wallets Protect Your Crypto Assets?

Yes, but the coverage is limited. Cryptocurrencyinsurance.io is an insurance-backed cryptocurrency protection platform. We provide protection for many wallets. Cryptocurrencyinsurance.io offers an insurance-backed guarantee underwritten for lost or stolen funds.

This means you will be protected (by virtue of using those wallets) from all theft and loss. Including brute force attacks, cyberattacks, device
theft and hacking. And if your cryptocurrency is stolen, Cryptocurrencyinsurance.io will pay you back up to the amount you are eligible for. This amount depends on the level of protection the wallet you purchased offers.

Do Crypto Exchanges Offer Crypto Protection?

You might also be insured through the crypto exchange you use. For example, one of the largest US-based crypto exchanges, carries a $255
million crime insurance policy.

That coverage kicks in if the crypto exchange suffers a platform-wide cybersecurity breach. But if a hacker accesses your personal account and steals your cryptocurrency, crypto exchanges insurance would not cover that. And in the event of a platform-wide cyberattack, you still may not get all of your assets back. That is why you need your personal crypto insurance for cryptocurrency assets and other digital assets with cryptocurrencyinsurance.io.

Cryptocurrency insurance market is growing just the way the number of people investing in cryptocurrencies are increasing on a daily basis.
And the best part is that both cold and hot wallets are covered by this crypto insurance.

You Can Pay for Crypto Insurance Premiums Using Crypto

Since individual asset holdings are unique and different, Cryptocurrencyinsurance.io does not provide flat-rate pricing. We require prospective policy holders to provide some digital asset details to receive a quote. We accept crypto as a payment option for the insurance premiums.

This can be made automatically through the Cryptocurrencyinsurance.io dashboard for your respective policy. You can get coverage for all coins we service for 12 month. These policy renews annually following an initial period to sign up. For more information, visit: www.cryptocurrencyinsurance.io

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