TheCryptoCoinReport: UK Startup Launches Crypto Insurance, 24/7 Bitcoin-Monitoring Service – Crypto Coin Report

    Cardiff-based cryptocurrency insurance startup Coincover has launched an insurance policy

    covering theft and loss.

    Local news outlet Whales247  on Sept. 24 that this is “the first and only service to guarantee digital funds held online will not be lost or stolen.”

    Coincover’s service reportedly monitors the wallet at all times and issues warnings in case of suspected theft, recovers funds in case of private key loss, manages key backups, provides cash replacement value in case of theft, and checks for any suspicious activity.

    Making crypto less risky

    Furthermore, the startup covers over 100 different crypto assets and the company has been invited by the UK’s Department for International Trade as one of the eleven insurance technology companies to share expertise in the Silicon Valley market. Coincover co-founder David Janczewski commented on the development:

    “Cryptocurrency ownership is growing fast and becoming more mainstream, but it can still feel like a risky investment. Virtual currencies, by their very nature, are a new concept for many.”

    Janczewski also notes that cryptocurrencies have been attributed to crime and scandal since the start as well as hacks and thefts. These are the issues his company is trying to solve, he explained.

    As Cointelegraph recently , according to industry experts the cryptocurrency insurance market is expected to grow at a faster rate if United States regulators provide more regulatory clarity.

    Meanwhile, cryptocurrency insurance is becoming a more prevalent service in the industry, namely for custodial services. For instance, earlier this month Bitcoin () futures firm Bakkt  that deposits held in its warehouse are protected by a $125 million insurance policy.

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    TheCryptoCoinReport: UK Startup Launches Crypto Insurance, 24/7 Bitcoin-Monitoring Service – Crypto Coin Report

    Cardiff-based cryptocurrency insurance startup Coincover has launched an insurance policy

    covering theft and loss.

    Local news outlet Whales247  on Sept. 24 that this is “the first and only service to guarantee digital funds held online will not be lost or stolen.”

    Coincover’s service reportedly monitors the wallet at all times and issues warnings in case of suspected theft, recovers funds in case of private key loss, manages key backups, provides cash replacement value in case of theft, and checks for any suspicious activity.

    Making crypto less risky

    Furthermore, the startup covers over 100 different crypto assets and the company has been invited by the UK’s Department for International Trade as one of the eleven insurance technology companies to share expertise in the Silicon Valley market. Coincover co-founder David Janczewski commented on the development:

    “Cryptocurrency ownership is growing fast and becoming more mainstream, but it can still feel like a risky investment. Virtual currencies, by their very nature, are a new concept for many.”

    Janczewski also notes that cryptocurrencies have been attributed to crime and scandal since the start as well as hacks and thefts. These are the issues his company is trying to solve, he explained.

    As Cointelegraph recently , according to industry experts the cryptocurrency insurance market is expected to grow at a faster rate if United States regulators provide more regulatory clarity.

    Meanwhile, cryptocurrency insurance is becoming a more prevalent service in the industry, namely for custodial services. For instance, earlier this month Bitcoin () futures firm Bakkt  that deposits held in its warehouse are protected by a $125 million insurance policy.

    Related Articles

    ShareTweetPin0shares TheCryptoCoinReport: Welcome to TheCryptoCoinReport.net – What is a Cryptocurrency? Welcome to TheCryptoCoinReport.net – What is a Cryptocurrency? The definition of a cryptocurrency is a digital currency built with cryptographic protocols that make transactions secure and difficult to fake.  The most important feature of a cryptocurrency is that it is not controlled by any central […]

    ShareTweetPin0shares Over the past month, we have seen the IRS, the tax-collecting agency of the United States, send out more than 10,000 warning and action letters to suspected cryptocurrency holders and traders who may have misreported digital assets on their tax returns. Letters like the 6174-A, 6173 and CP2000 have appeared in the mailboxes of cryptocurrency […]

    ShareTweetPin0shares The U.S. Internal Revenue Service (IRS) has published its first guidance in five years for calculating taxes owed on cryptocurrency holdings. Industry members have been eagerly awaiting the update since May 2019, when IRS Commissioner Charles Rettig said the agency was working on providing fresh guidance. The agency’s 2014 guidance left many questions unanswered, […]

    Crypto List

    Name

    Price24H (%)

    $8,649.91

    $343.68

    $168.50

    $57.58

    $0.002391

    $11.16

    $0.063861

    $0.236243

    $0.045604

    $11.18

    Recent Posts

    Recent CommentsArchives

    Categories

    Meta

    Leave a Reply

    Your email address will not be published.