cryptocurency is real money real asset but why not insured?

[Polo7]

so if cypro is real wealth real money and asset ?


then why there no insurances?  for example now days everything about business is insured i think the traders should be insured against the bigger market drops.


or hacks this money losing can not going on like this cryptocurrency should be insured for sure !!


why the big guys like coinbase and  binance have not provided insurance for this ?   

its good profit for them and also its win win for traders and investors !!!


for example:  i would pay 10$  a month if there would be some big market drops or falling i would have insurance against it the insurance might cover some part of it or full ammount its win win situation for everybody.


insurance specially for regular traders are very good as they trade often so the excngaer can profit constantly of them so to give them insurance rewards is win win situation .)

[Kupid002]

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.

[Polo7]

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.

I Don't agrre with You! 
The insurance Can Give More Credibility to the cryptocurrency! 

For example: If im holding my cryptocurrency on Exchanger im not so much my own bank!! 


Second If I lose on btc futures with btc leverage.
So Even I Get Back some money After loss it Can keep my business alive me as a trader Don't need to leave with zero money but I Can keep business alive.


As I undestood cryptocurrency trading is More and More Common business for many People Now days

[Jawhead999]

then why there no insurances?  for example now days everything about business is insured i think the traders should be insured against the bigger market drops.

Wait... what
Cryptocurrency price is volatility and high risk, it's not like stable coin or fiat. If you decide to buy a coin/token, you've also take the risk.

or hacks this money losing can not going on like this cryptocurrency should be insured for sure !!

why the big guys like coinbase and  binance have not provided insurance for this ?  

Coinbase and binance have insurance regarding cyber security or hacked, you need to read first.

Coinbase prioritizes the security of our customer's funds, all digital currency that Coinbase holds online is insured. If Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result. Coinbase holds less than 2% of customer funds online. The rest is held in offline storage.

To protect the future interests of all users, Binance will create a Secure Asset Fund for Users (SAFU). Starting from 2018/07/14, we will allocate 10% of all trading fees received into SAFU to offer protection to our users and their funds in extreme cases. This fund will be stored in a separate cold wallet."

[Lhaine]

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.

I Don't agrre with You! 
The insurance Can Give More Credibility to the cryptocurrency! 

For example: If im holding my cryptocurrency on Exchanger im not so much my own bank!! 


Second If I lose on btc futures with btc leverage.
So Even I Get Back some money After loss it Can keep my business alive me as a trader Don't need to leave with zero money but I Can keep business alive.


As I undestood cryptocurrency trading is More and More Common business for many People Now days

You don't need insurance  for this but to set stop lost if you don't want to wipe out your balance because of price volatility.

It's common but it doesn't  mean it  will not have a risk know the risk first before start trading.

[cabron]

Because everything that is online and centralized can be hacked regardless of however serious the system may be. The only safer in crypto is if you have the private key and have not shared nor used your BTC wallet.

Tracing insurance fraud is the hardest to find in crypto and hiring a firm to trace is more expensive then the amount insured so why not leave crypto as is after all people who enters into crypto are given full warning of what to do and how to keep their coins safer.

[stomachgrowls]

so if cypro is real wealth real money and asset ?
-snip-

You're just talking about win-win situation but this would be entirely a different for those insurances that who would tend to cover up crypto.

Reason? This market is really very prone to hacks, market dumps etc. Do you really believe that $10/month will really be enough for them to ask out if ever there are really some
insurances do exist? Im sure they would ask more.

Unlike on traditional insurances that we've known which do offer cover-ups but those dont happen frequently or shall we say a very rare thing to happen.

[AmoreJaz]

then why there no insurances?  for example now days everything about business is insured i think the traders should be insured against the bigger market drops.

Wait... what
Cryptocurrency price is volatility and high risk, it's not like stable coin or fiat. If you decide to buy a coin/token, you've also take the risk.

or hacks this money losing can not going on like this cryptocurrency should be insured for sure !!

why the big guys like coinbase and  binance have not provided insurance for this ?  

Coinbase and binance have insurance regarding cyber security or hacked, you need to read first.

Coinbase prioritizes the security of our customer's funds, all digital currency that Coinbase holds online is insured. If Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result. Coinbase holds less than 2% of customer funds online. The rest is held in offline storage.

To protect the future interests of all users, Binance will create a Secure Asset Fund for Users (SAFU). Starting from 2018/07/14, we will allocate 10% of all trading fees received into SAFU to offer protection to our users and their funds in extreme cases. This fund will be stored in a separate cold wallet."

yes, this is the first thing that came to my mind when i read the title thread. i know binance has their SAFU. so your crypto is insured in those 2 exchanges. however, most exchanges dont have this kind of insurance in place.
so it depends on the user where he wants to put his crypto, you have all the leeway to do what you want with your coins. whether you want to keep it yourself or put in an exchange with insurance.

[sheenshane]

I dont know what you mean by not insured, if you understand the word "volatility" that's how crypto works by traders getting profit aside from those stable coins. It's your responsibility to take a risk in trading and there's no insurance from the exchange if you will lose from trading and not all in trading are in a win-win situation.

Upon storing your crypto from big exchanges like Binance or Coinbase, you can be assured that your crypto assets are safe there even if there are hacking incidents, your funds are on SAFU, as mentioned above what is SAFU.

[btc_angela]

so if cypro is real wealth real money and asset ?


then why there no insurances?  for example now days everything about business is insured i think the traders should be insured against the bigger market drops.

Used tether instead or any crypto backed by fiat.

or hacks this money losing can not going on like this cryptocurrency should be insured for sure !!


why the big guys like coinbase and  binance have not provided insurance for this ?  

Binance and Coinbase has SAFU.

for example:  i would pay 10$  a month if there would be some big market drops or falling i would have insurance against it the insurance might cover some part of it or full ammount its win win situation for everybody.

insurance specially for regular traders are very good as they trade often so the excngaer can profit constantly of them so to give them insurance rewards is win win situation .

It's not applicable in crypto because the market is volatile, and for this reason alone, insurance is not going to be a fit in this market. Even stock market doesn't have any insurance, just to let you know.

[Harlot]

if you are asking for some kind of monetary protection like what the FDIC is giving for people who have deposits in banks I don't think you will find it in thia kind of market. Even the stock market don't have one but they do have different protection like trading halts and KYC. Just like the crypto market has a strict monitoring when it comes to there security as well as having KYC and AML procedures. Monetary insurances is something you won't see in markets where you are really risking your momey on.

[Emitdama]

There is nothing like insurance for cryptocurrency, when it comes to cryptocurrency you’re in complete control of your money and you don’t need any insurance.

But, there is a cryptocurrency exchange that has insurance and that’s Coinbase, the other doesn’t have any insurance, or if there is, then I am not aware of it, I only know about Coinbase as the only crypto exchange that is insured. So, when you’re making use of Coinbase , your cryptocurrencies are kind of insured, but not in the way you’ve talked about it here, you’re only protected against attacks; if there should be any attack on the exchange your money will be safe.

[joniboini]

But, there is a cryptocurrency exchange that has insurance and that’s Coinbase, the other doesn’t have any insurance, or if there is, then I am not aware of it, I only know about Coinbase as the only crypto exchange that is insured.

Read a few posts above yours then, you'll add a new one for this list.

I think the question is a bit too broad & unclear. It's like asking why the money on your wallet is not insured and you can claim when some theft stole it from you. I don't recall a business provide insurance for such thing, since the risk is way too high and it's extremely difficult to prove. But centralized services in the space is slowly having this insurance deal.

[jrrsparkles]

Do we have insurance for stocks?

Do we have insurance for real estate?

Insurance companies will go bankrupt if they start insuring volatile assets.Bitcoin is not business its just an asset and there is no company will be ready to insure any assets.

[royalfestus]

There are new projects on cryptocurrency that function to insure on the space, I feel they should not be in production of tokens, however am still waiting on the mass adoption. I still dont understand how they plan to insure a deregulated system. There could be chances on insurance for some project idea in space, project with substantial project with onground organization eg in energy, real estate etc

[hulla]

why the big guys like coinbase and  binance have not provided insurance for this ?  

That's because the volatility in the nature of crypto make it hard for them to operate in such feature cause they cant offer a service that will affect their level of income and best thing they can do is to make people aware of the risk in crypto investment.

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.

I Don't agrre with You!  
The insurance Can Give More Credibility to the cryptocurrency!  

Youre right but the decentralization in nature of crypto currency give every crypto owner the ability of self decision making and if the future and leverage trading added such features we might see that happen.

[allahabadi]

Since when did trading have insurance; better use stop loss to protect against losses. in case of such insurances won't the person intentionally incur losses if the profit he is to gain is less than insured value; also use good exchanges to protect against hacks which do provide coverage and insurance.

Assets are insured and mortgaged too; will u give your crypto asset as mortgage?

[buwaytress]

Insurance in its purest sense is just you betting against a company that something bad will happen, you know that right? So if you want insurance, go ahead and offer the bet to an insurance company.

Besides, Japan and South Korea, among the ones I know of anyway, already make it a requirement for licensed exchanges to offer deposit insurances.

So if you're depositing and keeping your money in an exchange that doesn't have an insurance policy, that's on you.

Keep it in your own wallet. And keep it secure. And you rest easy not worrying about hacks on exchanges.

[pooya87]

The insurance Can Give More Credibility to the cryptocurrency! 

that is what you think. credibility of a cryptocurrency comes from its decentralization, utilities, security and a couple of other factors. not from being insured!

For example: If im holding my cryptocurrency on Exchanger im not so much my own bank!! 

actually when you store your cryptocurrencies on an exchange then you do not even own any cryptocurrency!
and your whole argument about "cryptocurrency insurance" is more about "centralized exchange giving you insurance" instead. and that makes more sense, because they are centralized and you are giving them your money and full control over your money and you should demand insurance from them.

[ReiMomo]

~snip~
so if cypro is real wealth real money and asset ?

Wait, what? I guess real money and asset are true but if you're talking about wealth, it's upon the situation.

There is wealth upon holding in bitcoin but if there's a bullish trend and you already accumulated when the price is low and suddenly become bullish. The volatility makes bitcoin fluctuate and that makes people get profit when they are in trading. There's no assurance of getting profit so either you will earn or lose in bitcoin if you will sell under the price of your purchase.

Bitcoin is not an banking system, they are different things.