CoinCare - Bitcoin Insurance - PROTECT YOUR INVESTMENT

[cryptocare]

Hello everyone,

Introducing CoinCare - we insure your bitcoin from volatility.

We insure your bitcoin so that your investment is safe, for a small monthly fee. If it goes below an agreed price we purchase the bitcoin at the original amount.

You can apply for a quotation on our website, www.coincare.co

Established members and press can receive a trial here - www.coincare.co/press - WE ARE LOOKING TO GET REVIEWS.

We have capital reserves in place to process any payouts.

We will have a limited release at first, if you have any questions please let me know.

Hopefully we can make bitcoin a consumer friendly product

 

[avatar_kiyoshi]

What a protection you offer? The website even don't have an SSL security, there's no company profile, and moreover it's offering by newbie(no offense).

Why not just storing bitcoin into cold wallet/offline wallet, there are a paper wallet with cheap cost and the tutorial which more secure plus no stranger 3rd party get involved.

[webtricks]

What a protection you offer? The website even don't have an SSL security, there's no company profile, and moreover it's offering by newbie(no offense).

Why not just storing bitcoin into cold wallet/offline wallet, there are a paper wallet with cheap cost and the tutorial which more secure plus no stranger 3rd party get involved.

He is not providing safety to your Bitcoins. His service is that he saves your bitcoin from volatility. Suppose bitcoin decreases $100 or more, your investment will not be affected.

Well, I am still looking for authenticity of this service!

[Juggy777]

OP's failures.

1. due diligence. no listing of real world address, even domain is hidden behind privacy guards
-- customer be warned, you wont be able to slap coincare with a wetfish/court order should they run away with your premiums
-- if OP updates website to include an address, make sure its not a virtual office/PO box/mail dropbox

2. no Terms and conditions listed on website
-- customers be warned, you wont know what your signing into, until you have already signed up

3. no example/demonstration quote/fee on website
-- customers be warned, you wont know what your signing into, until you have already signed up

4. there actually are insurance regulations in many countries. and insurance regulations are not based on the (secret) location of the insurer. but also the insurer has to follow the insurance regulations of where the customer is located (EG NY bitlicence means international companies need to follow NY regulations for NY customers)

i hinted this in the other topic, and suggested to you a work around. but it seems that you have decided against it and avoided the basic things that some would deem you as a trusted service.


The above was written in his thread of Bitcoin discussion, you have conveniently made two threads. I don't think until all the concerns that are mentioned in the quote I have posted are replied and adhered to any one will fall for it. I would yet say this is not a good deal, and now I am getting sure. You have a huge task convincing us all.

[HabBear]

Have you thought about a signature campaign to advertise your services on this forum? People that frequent the Economics, Projects, Marketplace, and Politics & Society may be particularly interested in your services. Just a thought...good luck to you.

[mbuk81]

Nice idea but how after you going todo this and make money for your self
If a lot of investments go bad will you cover all big and small ones this sounds like a new type of hyip to me but not saying it is
The fee you ate talking about will this change as the price of bitcoins rises and falls

[olushakes]

Its seems op does not get the way things are been done over here. Maybe until when there is a mechanism for one to really knows about the forum before being allowed to offer some specific service. The service he is willing to offer is basically on trust which people of your rank does not possess.

At the same time, why will I trust you with my money when your site is not even trust worthy. This is a lesson that this forum is full of experts in any field and can literally tear down your defense mechanism.

What a protection you offer? The website even don't have an SSL security, there's no company profile, and moreover it's offering by newbie(no offense).

Why not just storing bitcoin into cold wallet/offline wallet, there are a paper wallet with cheap cost and the tutorial which more secure plus no stranger 3rd party get involved.

[vishtany]

Hello everyone,

Introducing CoinCare - we insure your bitcoin from volatility.

We insure your bitcoin so that your investment is safe, for a small monthly fee. If it goes below an agreed price we purchase the bitcoin at the original amount.

You can apply for a quotation on our website, www.coincare.co

Established members and press can receive a trial here - www.coincare.co/press - WE ARE LOOKING TO GET REVIEWS.

We have capital reserves in place to process any payouts.

We will have a limited release at first, if you have any questions please let me know.

Hopefully we can make bitcoin a consumer friendly product

I was thinking of implementing a similar Bitcoin Based insurance system myself but never thought about this angle.
As others have said in this thread, you have a few things that need to be implemented.
1. Get an SSL, It helps SEO and instills a little trust
2. Get a TOS - I am still working on this for my platform and it offers a legal understanding between users.
3. Get and FAQ - Clears common Questions/issues for users.
4. connects back with the last suggestion, clean up this ANN a bit and only have one ANN.
5. Whenever you can, Add social channels along with creating a blog with Updates and informative content.


As also noted, volatility will be an high issues. It would be great if you had a secondary crypto-currency or a set of crypto's as the way to preserve some of value in your strategy.

Like this platform and wish you this best with this venture.