World’s First Insured Bitcoin Storage Service Launches in the UK

[gsingh]

The world’s first insured bitcoin storage service has launched in the UK, with insurance underwritten by Lloyd’s of London.

http://www.coindesk.com/worlds-first-insured-bitcoin-storage-service-launches-uk

[grue]

what's with the double link? just post the link to http://www.coindesk.com/worlds-first-insured-bitcoin-storage-service-launches-uk/

also, the service is useless because a 2 of 3 paper wallet is free and is just as secure as handing your coins to a third party.

[gsingh]

I believe community should know that such service exists and it'll definitely be useful for some.

[SilverandBitcoins]

Insured BTC storage sounds like a great idea to me.  I've been fearful of putting too much money into BTC because of the insecure, unstable, and unreliable wallet options out there.

[tinus42]

what's with the double link? just post the link to http://www.coindesk.com/worlds-first-insured-bitcoin-storage-service-launches-uk/

also, the service is useless because a 2 of 3 paper wallet is free and is just as secure as handing your coins to a third party.

Until your paper wallets get damaged or destroyed by fire or water or are stolen.

I can imagine that people who have a few million dollars worth of Bitcoin would be uncomfortable storing it at home. If you put them in a safety deposit box at a bank but they usually have a limit of how much value you can put in a box and if it's higher than that you are uninsured. So a service like this is useful for the really rich Bitcoiners.