Most Awaited Crypto Insurance is Finally Here
The crypto world is a haven for hackers because once the security barriers of a wallet or an exchange are breached, there is nothing stopping them from stealing your funds. Due to the anonymity that cryptocurrencies offer its users, it is impossible to retrieve something that is lost. Hence, to keep your assets safe, an insurance service is required.
Insurance Services Make Its Way Into the Crypto WorldIn the centralized world that we live in, we do not have complete control over anything. The centralized organizations, around the world, are the ones who make all the decisions for us. Thus, in order to give this power back to the people, cryptocurrencies were introduced through blockchain technology.
Even though these digital assets do offer more benefits than their centralized counterparts, people hesitate to use these assets. The main reason for this is the threat to security that these virtual currencies face.
Every year, there are numerous hacks on the crypto market, which leads to a loss worth millions of dollars that cannot be retrieved. Due to this high level of threat, many people and institutional investors are hesitant about investing in them.
Thus, the crypto market has never been able to hit the trillion dollar mark. It is estimated that even if 10% of the world’s population starts investing in cryptocurrency, the market cap will reach the one trillion mark.
In order to protect our centralized assets, we opt for various insurance services. This provides us a sense of security even if something were to happen to the asset, since it has been insured.
In order to remove the fear of loss of cryptocurrency, from the minds of people, crypto insurance services have started to emerge in the decentralized crypto world as well. This movement has been spearheaded by INZURA insurance.
What is INZURA?INZURA is the first ever crypto insurance service that aims at protecting cryptocurrencies in exchange against hacks and scams. Just like how we buy insurance premiums in the centralized world, INZURA allows users to buy crypto insurance premiums in the crypto world.
By using the INZURA token (IZA), users can buy premiums for any amount that they want. Users will be able to claim insurance of up to 5 times the cost of the premium that they bought on the INZURA platform.
What is INZURA token (IZA)?The INZURA token is the heart of the entire platform. This is an ERC20 token based on the Ethereum blockchain, using which the users can buy crypto insurance premiums on the INZURA platform.
Whenever a new token is launched, it is usually prone to be pumped and dumped in the crypto market. However, the IZA token is free from this problem as it goes through the FAP protocol every 3-4 months.
Initially, the Fixed Audited Price (FAP) of the IZA token will be $1 and the maximum claim would be 5 times this amount. This means that even if there are attempts at pumping this token, the maximum value to which it can reach is $5 since the INZURA platform price is fixed $1 and claim leverage is 5 times the FAP price.
Benefits of the INZURA platform
The main aim of insurance premiums is to provide a medium of relief to the people. When you invest in a risky market like the crypto market, this relief is truly priceless.
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Insurance against hacks: The event of a crypto exchange getting hacked is very common. If you have purchased an insurance premium from INZURA for that particular exchange, then you will be able to claim the amount that you lost during the hack. You will be able to claim up to 5 times that cost you paid for the insurance premium. As soon as the hack is verified, your claim will be approved and credited to their registered wallet address.
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Insurance against scam ICO: INZURA protects you from ICO scams as well. If you ended up investing in an ICO that turned out to be a scam, then once the news on this is verified, you will be able to claim your insurance against the same. ICO insurance protection is set to be published after platform launch.
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Brings in more people on to the crypto industry: As insurance acts as a safeguard for your investments, more people will be attracted towards the crypto market due to the mitigated risk of enduring a loss due to a hack.
ConclusionInvesting in the crypto market leaves you vulnerable to hacks and scams when you do not have access to key as in exchange. This is the reason why many are still hesitant about investing in this market. Crypto insurance services against such hacks and scams provide a sign of relief for everyone who is investing in this market.
Additionally, it will also bring in more people into this market. Thus, INZURA insurance helps to lay grounds for the whole crypto market to flourish.
