Cryptocurrency insurance

[achillez]

Anyone find any good options for cryptocurrency insurance? Sadly the exchanges don't seem to offer it (at least the big ones). It would beneficial for folks that have a couple $1k of crypto to insure it for $10/year.

[Poker Player]

I think it's bullshit. If some company insures you cryptocurrency they will do it by making sure they are going to make money and they are not going to do it for only $10 if you have $2k in crypto. Seems to me you don't have much of a clue how insurance works and its risk management.

[pooya87]

Insure against what?
Price dumps? It will never happen because the market is too volatile specially when it comes to altcoins that are purely pump and dumps. It is not even possible to do something like that.
Theft? This will also never happen because it is very common that newbies lose their cryptocurrencies and more importantly you can't prove a cryptocurrency theft. For example you could have sent the coins from one wallet to another and then claim it was stolen!
The exchanges also won't give you insurance because they know they are going to get hacked and lose a lot of money. Paying the customers means losing the money twice.

[defi-Dany]

 ;DThis is the biggest joke I have seen today.LOL
Ironically, the encryption industry originally wanted users to be liberated from traditional finance through this utopian technology, but now, it seems that they want to make traditional finance like insurance become the mainstream of the industry.

I have heard one of the clauses that the loss of service interruption is payable, but if it is stolen, the loss will not be compensated. If it is stolen, why should I buy insurance for it?
Another problem is that the amount of insurance coverage may not be enough for the amount of loss.

The value of cryptocurrency fluctuates too sharply. The amount of insurance that could cover all company assets before may not be enough as the value changes.

When the insurance industry encounters a complex industry such as cryptocurrency, it can only be a joke now.

[Coin_trader]

Anyone find any good options for cryptocurrency insurance? Sadly the exchanges don't seem to offer it (at least the big ones). It would beneficial for folks that have a couple $1k of crypto to insure it for $10/year.

Your account looks like a farm account judging by your post history and its content. About the topic, There's no sane company that will establish an insurance for the crypto market knowing that the risk factor on cryptourrency is very high. Most of the big exchange offer an insurance for the funds in case there will be lose to the customer due to exchange fault, But trading a crappy token and losing the capital is not covered by that. Maybe health care and life insurance is possible rather than crypto assets.

[Sollaes]

Anyone find any good options for cryptocurrency insurance? Sadly the exchanges don't seem to offer it (at least the big ones). It would beneficial for folks that have a couple $1k of crypto to insure it for $10/year.

Personally I haven’t met such functions before, as crypto is too risky to insure it. It can yield big losses for platforms that will provide insurance for crypto assets. Moreover, when it is a bear market and everything is dropping, people are in panic, these platforms just will not cope with so many demands to pay for insurance. But maybe I didn’t understand you properly as it is not very clear to me what you can have an insurance for.

[kryptqnick]

Anyone find any good options for cryptocurrency insurance? Sadly the exchanges don't seem to offer it (at least the big ones). It would beneficial for folks that have a couple $1k of crypto to insure it for $10/year.

I wrote previously on this forum that crypto insurance is IMO a great business. It's a clearly underexplored niche, and I'm, unfortunately, too unenthusiastic about business opportunities to work on it myself (and I definitely don't possess the required resources), but if I ever see a not shady-looking company doing it, I will probably buy some shares. I don't want my BTC insured, but I'm sure that there are enough people who do, and would indeed be willing to pay some fees for it. I'm a little surprised that it's still not a popular idea, and that there don't seem to be people around who are eager to fill this niche, but I think the demand will grow more and more, as people who aren't Bitcoin enthusiasts start using Bitcoin because it's popular.