Insuring the crypto assets. Is it possible?

[stoletss]

If you use blockchain it is. Blockchain is already worked on insurance right now, there are companies who are trying to insure stuff on blockchain to make it more forever there type deal and for that to happen you need the underlying contract to be agreed by both parties and exist in blockchain. Now, if you take that blockchain technology into insuring crypto you can make it happen however insuring crypto assets would require a lot more details then the regular "life" or "house" insurance type of deals because it is harder to calculate the underlying risks.

The premiums must be really hard. The easier method is insuring crypto platforms. Such as coinbase, blockchain.com, bitmain and all those crypto related stuff could be insured instead of crypto itself. Much easier method and still insuring in crypto world.

Dunno why someone above was afraid of promoting anything as I don't think it was.
I came across the service called Cryptoins that is actually designed for providing such services and saving our holy grail Coinbase and Bittrex exchanges. Haven't heard on anything of that kind yet.

As for the companies that are into insurance  they may not be not successful with the implementation of this idea as for at least another couple of years: the crypto is only starting to gain its credit amongst legislation systems of the world so  it will have lotta improvements + all the process must surely be much more complicated to make assets- insurance Blockchain-based thing work.

[bangkit tri]

We can't insure the crypto currencies  ased on the fiat value,we may insure the exchange's wallet and if that hacked we may get the same amount of crypto which we had before the hack so we don't have any security interms of value based.Since it is a currency the value will be changing based on the market no insuarnce will be available in the future also.

maybe it is more logical for insurance to be carried out by an exchanger, where consumers will feel more comfortable, because there have been cases of burglary on one of the exchanges, which has a negative impact on that exchange

[dzhax]

to ensure your funds is quite possible I think. But the essential part here is not to mix up the notions and make sure you understand how the system of insurance works.

[peach56]

Assets can only be insured through private brokers. This is a particularly risky investmentfor insurance brokers due to the hacks of wallets etc... maybe security tokens will have more of a future in this field! 

[Greenwinter]

Assets can only be insured through private brokers. This is a particularly risky investmentfor insurance brokers due to the hacks of wallets etc... maybe security tokens will have more of a future in this field! 

wow, cool!  any real working examples?

[MULTIK888]

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

Insurance of money invested in cryptocurrency...Not heard, probably you'll have to pay the same amount of insurance company how much to invest in bitcoin for the possibility of such insurance and it is not the fact that you will find such a crank.
The risk in crypto is too great and just no one will take such risks to compensate you for the damage received during the next price reduction.

[Harlot]

Are you talking about some kind of mutual fund? Or anything related to someone investing in your behalf? Then I am afraid to tell you that these are just scams waiting to happen. There is no such thing as a legit service like that and the ones who are offering right now are more than likely a scam waiting to happen. You should know that the only way you can invest in cryptocurrency right now is either directly buying its ICO or trading in a crypto exchange because other than that is just a fraud from a criminal.

[farosa]

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

In my opinion if you had invested as much as you can afford to lose, everything would be different now. The reason you lost money is yourself and you should take this into consideration in the future.
I have never heard about money insurance in cryptocurrency. I just recently saw a new ICO and they wrote that the ETH trade would be from higher price (i don't remember name of ICO). But most likely, the buyer will be needed from the up price.

[deppil]

We can't insure the crypto currencies  ased on the fiat value,we may insure the exchange's wallet and if that hacked we may get the same amount of crypto which we had before the hack so we don't have any security interms of value based.Since it is a currency the value will be changing based on the market no insuarnce will be available in the future also.

maybe it is more logical for insurance to be carried out by an exchanger, where consumers will feel more comfortable, because there have been cases of burglary on one of the exchanges, which has a negative impact on that exchange

Yeah keep the value of your assets not the authority of insurance dude. you can't insure the value of your assets. but you can insure your wallet. for example if your wallet is hacked you can ask for compensation on insurance. but I don't know what the mechanism will be. because I never insured my own wallet

[timerland]

Definitely possible with certain derivatives and trading techniques.

In fact, hedging is absolutely nothing new in terms of the financial world and can be applied to forex as it would to bitcoin. Obviously, you would need to find the right platform to do it in order to hedge your bets, for example, taking out put options for bitcoin while holding your BTC.

It will come at a cost though, whether through spreads, fees, interest, whatever. If you are seeking stability solely in the form of USD, then you might as well just hold USD instead to save yourself some trouble. However, long term bitcoin holders will see bitcoin as a stable store of value, instead of measuring it against USD all the time, which could make things appear more volatile than they really are in the long run.

[ufaiz50]

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

My suggestion is to hold it until cryptocurrency is bullish, I don't really understand about whether we can insuring the crypto assets. In 2018 I have not experienced a loss on Bitcoin because my experience and analysis said that in 2018 Bitcoin will have a downward trend so I secure my money to Fiat and trade in several altcoins that have good growth.

[biskitop]

there is nothing special about the insurance of crypto assets. only now for loggin to the wallet or market exchange, there is a recent update that must be accompanied by confirmation that it is not phishing. I think it's a good progress for the level of security of our assets.

[TheUltraElite]

to ensure your funds is quite possible I think. But the essential part here is not to mix up the notions and make sure you understand how the system of insurance works.

For heaven's sake and for this forum's sake please do some research before you start posting about stuff and giving advise to others. There is currently no system that helps you insure your assets. What do people actually lose when the market drops? The amount of bitcoin they have still dont change provided they have not sold any of it. They lose the value of the asset because of market price changes. That does not necessarily mean one should look for modes to insure the values because in reality there is nothing that can do so.

Putting your funds into a company that allows you to hedge it would be another headache. Do so at your own risk.

[Reinsurer]

to ensure your funds is quite possible I think. But the essential part here is not to mix up the notions and make sure you understand how the system of insurance works.

For heaven's sake and for this forum's sake please do some research before you start posting about stuff and giving advise to others. There is currently no system that helps you insure your assets. What do people actually lose when the market drops? The amount of bitcoin they have still dont change provided they have not sold any of it. They lose the value of the asset because of market price changes. That does not necessarily mean one should look for modes to insure the values because in reality there is nothing that can do so.

Putting your funds into a company that allows you to hedge it would be another headache. Do so at your own risk.

Sure there are services that insure your crypto assets. But the risk is not USD price of the assets drops, but you loose your assets because of fraud or hackers.

[Bitcotalk]

i don't think it can be done at this time, we know that the regulation in my country doesn't exist yet, whereas to insure it, of course something must be approved by government, of course this is still difficult

We are focusing on the fiat currency once again. The question is not "can we insure the price point we get into bitcoin", that is idiotic. No you can not guarantee the price of bitcoin as an insurance company, are you insane? However insurance companies can insure the storage of your bitcoins and so forth, if your money is stolen and what not.

They won't do it for everyone and every option since they wouldn't know to trust you but they can insure places like wallets and exchanges for that reason. That way one insurance company will say "give us x amount of fiat/crypto and we can insure that your coins in binance will not be stolen". In which case if your money stays there, insurance company wins, if your crypto gets stolen there they will find a way to make that money but at least you will be safe knowing that they will pay you.

[jeromix]

Yes, there are project that are catering already about insurwnce but I do.not know how it will going to work out. Anyway, there is another way to ensure our investment and that is to let cryptocurrency to be regulated by every country around the world. This will definitely make a good start for building up confidence and trust in investing crypto.

[tenakha]

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

First time I hear about such a system. It might be but they should be scam like other money traps. Why would anyone do that? Think about it, it is not possible to make profit maybe some little interest but when the prices go down the loss becomes too big.
If anyone does they insure the number of Bitcoins not their USD value.

[Akpuv]

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

Running a company to insure crypto assets is a huge risk I don't think anyone would want to adventure. It will be an added risk to the already risk prone crypto investments. It is utterly unnecessary.

[Reinsurer]

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

Running a company to insure crypto assets is a huge risk I don't think anyone would want to adventure. It will be an added risk to the already risk prone crypto investments. It is utterly unnecessary.

The truth is that crypto insurance service baked by licensed insurance company and already operating. At least here is the one https://cryptoins.io/

[Bobby park]

Saved 1 eth on the $520 level
sold at 300 lol

Well, its a good timing sir even you are lose 25% of your investment. Atleast you sold your ethereum before it goes down. As of now, the price of ethereum is moving at 100 to 150 dollars. Maybe, it will surge once it has a price action in bitcoin. We can ensure our crypto asset by holding them all until we see the price that is rising above its ico price.