cryptocurency is real money real asset but why not insured?

[Salauddin1994]

Crypto is decentralized it's out of anyone's control and unable to work everyone can work independently so there's no need for insurance generally applies to fiat currency this is often a sort of risk management in order that the insured entity transfers the value of the potential loss to a different entity in exchange for alittle financial compensation. It's like paying one sum to the entity to guard oneself from possible future losses so when an unfortunate event occurs the insurer helps you to urge things everyone from insurance to cryptocurrencies is taken into account safe and helpful for the longer term.

[South Park]

Cryptocurrency doesn’t need insurance since main purpose is to give you freedom, and that freedom means complete control over your wealth, and that means you will be the one running the risks for yourselves, without banks and other financial institutions.

So, don’t expect that there is going to be any insurance being given to you, you’re on your own when it’s cryptocurrency that we are talking, and there is a huge risks, another reason why you have to be careful with how much you’re storing in cryptocurrency, everything is all about risks. Try to make use of good wallets that are reliable, and know the pros and cons of the wallet to you’re using, and try to avoid the cons as much as possible.

I do not know why this simple concept is so difficult for people to accept, in fact the whole reason banks were created at first was to secure the money of those that decided the were unable to store their own money safely, but in the case of bitcoin we have the opposite principle, the person that is holding bitcoin is completely responsible for what happens to their coins and as long as you are the one holding your private keys this responsibility cannot be relegated at all.

[hahay]

There are so many types of investment that exist and I personally doubt that all existing investments come with insurance and also, for that reason we know cryptocurrency is a decentralized digital asset and I think it's natural that this decentralized digital asset is not accompanied by insurance. With this difference, I think cryptocurrency remains the best asset, because even though there is no insurance, its growth can increase so far.

[Kong Hey Pakboy]

It is the reason why some people are afraid to invest in cryptocurrencies or bitcoin because there is no insurance or no guarantee of return of payment if it doesn't have any value anymore. Cryptocurrency is decentralized that no organization or the government can't control. That is why its price only depends on the law of supply and demand, and no insurance to it that makes it risky.

[lixer]

Not true, insurance is unnecessary in cryptocurrency. Cryptocurrency is decentralized, and you’re also made to understand that it is a volatile asset and anyone that’s investing in it is taking risk, so what kind of insurance are you looking for exactly? An insurance that’s going to save you from losing and only making profit? Lol that doesn’t make any sense.

You all are always in a haste to reap profits from cryptocurrency, but you’re not ready to face the risks that follows. If you know that you are not ready for it, then it’s best that you stay clear from anything volatile, there are stable cryptocurrencies that you can invest in.

[MWesterweele]

It is the reason why some people are afraid to invest in cryptocurrencies or bitcoin because there is no insurance or no guarantee of return of payment if it doesn't have any value anymore. Cryptocurrency is decentralized that no organization or the government can't control. That is why its price only depends on the law of supply and demand, and no insurance to it that makes it risky.

Indeed a reason why theres a lot of people who'd still afraid to invest in cryptocurrencies is that all the time they know that it is scam, or not real money. As i know it was been news to our national tv though not totally estated as scam or not legit but they did'nt encourage people to keep themselves engaged in the digital currency. Yes, cryptocurrency was decentralized and no organization that's why i think it was also a reason government thinks that it was a hindrance to the real money.

[Wawa2013]

I wonder if cryptocurrencies have insurance, because a decentralized investment like cryptocurrency will not have insurance.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.

[ice098]

I wonder if cryptocurrencies have insurance, because a decentralized investment like cryptocurrency will not have insurance.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.

The mere fact that digital currency was decentralised makes it the main reason why it is not insured. Maybe it is also the reason why government and people are being hesitant to invest in it. Well if i were also unknowledgeable about digital currency i were also hesitant to invest in it its because i wanted that my money that i am going to invest in should have insurance. But because i do have knowledge as of now i can honestly say that theres nothing to afraid of in investing in bitcoin.

[adzino]

I wonder if cryptocurrencies have insurance, because a decentralized investment like cryptocurrency will not have insurance.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.

What kind of insurance are you looking for? I doubt there is going to be any kind of insurance for investing in bitcoin. You really think insurance company can cover your losses or verify if you really got scammed? Think of the number of insurance frauds that will take place since and how hard it will be for them to investigate if your claims.
They are hesitant to invest because they aren't ready to take risks.

Most crypto investors prefer to be anonymous
and avoid KYC procedures, so it's getting harder to get insurance.
-snip-

Harder? It never existed. And good luck trying to convert your bitcoin to fiat currency without going through KYC process.

[South Park]

Most crypto investors prefer to be anonymous
and avoid KYC procedures, so it's getting harder to get insurance.
-snip-

Harder? It never existed. And good luck trying to convert your bitcoin to fiat currency without going through KYC process.

And quite honestly we should not expect any different, anyone that is planning to convert their cryptocurrencies to fiat should expect to go through KYC especially if the amounts are high, governments control the fiat system and they put the rules, the good thing however is that they do not have control of cryptocurrencies and as such as long as you only deal with cryptocurrencies a small amount of privacy can be preserved which is why what we want more than anything is that the level of adoption grows because if that happens then we will have to stop worrying about governments and their KYC policies.

[XCANA]

I wonder if cryptocurrencies have insurance, because a decentralized investment like cryptocurrency will not have insurance.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.

You should have read some few post ahead of you to get a clearer answers to this. There are good cryptocurrency exchanges with insurance relatively with cryptocurrencies, binance is one of the cryptocurrency exchange with security insurance, also, coinbase has cryptocurrencies insurance too. So, looking for that cryptocurrency exchanges with insurance then get close to the aforementioned exchanges.

[Polo7]

I wonder if cryptocurrencies have insurance, because a decentralized investment like cryptocurrency will not have insurance.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.

You should have read some few post ahead of you to get a clearer answers to this. There are good cryptocurrency exchanges with insurance relatively with cryptocurrencies, binance is one of the cryptocurrency exchange with security insurance, also, coinbase has cryptocurrencies insurance too. So, looking for that cryptocurrency exchanges with insurance then get close to the aforementioned exchanges.

Is the insurance gona pay if I Get stealed?  Or They just pay When Other victims aswell? 
Or They Even one User lose?

[tvplus006]

Is the insurance gona pay if I Get stealed?  Or They just pay When Other victims aswell? 
Or They Even one User lose?

We know that the Binance exchange previously compensated for the losses that its customers suffered as a result of the hacker attack. The Kucoun exchange also made such a message that all funds stolen from users 2 days ago will also be returned. Thus, we see a real situation related to the theft of cryptocurrency on the exchange and the practical solution to this issue.

[abel1337]

Is the insurance gona pay if I Get stealed?  Or They just pay When Other victims aswell? 
Or They Even one User lose?

We know that the Binance exchange previously compensated for the losses that its customers suffered as a result of the hacker attack. The Kucoun exchange also made such a message that all funds stolen from users 2 days ago will also be returned. Thus, we see a real situation related to the theft of cryptocurrency on the exchange and the practical solution to this issue.

This is one of the advantages of a reliable exchange, You can get an assurance that the tokens you have will not be affected by the hacking. If a small exchange is hacked and if a hacker cleaned its hot wallet, There is a chance that the exchange hardly function anymore and it might abandon its users due to bankruptcy.  Improving the security would be a solution to the latest hacking, Everyday hackers improve that's why exchange security should be actively improved as well.

[bocyaj]

For simple reasons because you are the one who have full control of your crypto currency and no one have access in it unless you are given it to other people. Insurance will only work for business and crypto is not business but a digital money with real value  , the only option that it will work if the exchange will add this option.

They are not adding it because they know that there  are possibities that they can be hacked and they are not earning from the balance stored there and they are not also immune to price volatility ,But they can if they want.

It can't be insured.If you want to insure it,just convert it into real money and insure that money.It's like a asset and you can hold your valuable saving on it .It will gain you some profit for sure,hold is essential one to taste the fruit of profit.Hacking will be resolved by using some wallet security application.

[livingfree]

Do we have insurance for real estate?

Yes. Check your country as there's insurance for real estate and that's the same with the cars.

And for cryptocurrencies, there's this feature that Binance is trying to let the people adopt and that's an insurance fund. But I still don't understand how it works til' now.

[South Park]

Is the insurance gona pay if I Get stealed?  Or They just pay When Other victims aswell?  
Or They Even one User lose?

We know that the Binance exchange previously compensated for the losses that its customers suffered as a result of the hacker attack. The Kucoun exchange also made such a message that all funds stolen from users 2 days ago will also be returned. Thus, we see a real situation related to the theft of cryptocurrency on the exchange and the practical solution to this issue.

I also saw the message of the Kucoin exchange assuring their clients they will give them their money back if they were affected by this hack, however most likely this insurance only applies if the exchange itself is responsible for the lost funds, in the case the user is not careful enough to protect his coins on his own and his password and other means to protect their account are bypassed by a hacker that targeted a specific user most likely the exchange will not cover that loss as it is the responsibility of the user.

[lienfaye]

There are exchanges that has insurance to compensate the losses of their users due to unexpected hacking, among them are binance and kucoin who announced and assured their users that they will return the amount hacked to their account. But if the insurance you're talking is about crypto in general, I think there's none yet. If you know how to secure your coins by using trusted wallet and you hold the keys then there's nothing to worry about. In trading, its a risky move to be able to grow your coins, and its up to you on what strategy to use to avoid losses.