Bitcoin Insurance

[BitHash]

 
  I was wondering if there was anyway to implement insurance to bitcoins , the easiest way is to do regular insurance policies and accept bitcoin for it   but thats just using bitcoin as payment, I was wondering if there was a way to insure your bitcoins as well.

 Anyone have knowledge about this topic?

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[RustyNomad]

I know Xapo offers insurance on any coins you store in your [their] vault. The cost is very low from what I could remember.

Have not used it myself and not sure how 'good' it is but maybe something you can look at.

Also, they offer a debit card linked to your account so you can move funds to your hot wallet to be used with the debit card while keeping your larger balance in the vault.

[BitHash]

 Keeping your coins in a wallet and paying for it seems a little weird to me , if you do not believe your coins to be stolen why would you pay for it? I use blockchain.info and do not pay anything for it so why would I pay for xapo to do the same?

 I was considering something like insurance on your miners maybe? Or maybe the value of your coins ? (the price always drops and rises and drops and rises so maybe something to lock the value of your coins?)

[RustyNomad]

You are not paying for having the coins in your wallet, you are paying for the insurance.

If you just leave your coins in the Xapo hot wallet you pay nothing. There is only a fee once you move it to the vault which is cold storage managed by them. All coins in cold storage is insured.

Go to their site and read how it works.

[BitHash]

 So Xapo is like a cold storage but online more easy way? You actually keep it in a cold storage that protects it from getting stolen but you also pay for the cold storage? I can print paper wallets that are cheaper?

 Yes they give you debit card which can make you pay with your bitcoin for everything, yes they have a good looking app.

 What I am looking for like I said was insurance that is legally binded by the goverment and/or insurance on your bitcoin in a way not for getting stealing but for stuff like either value or insuring your hardware miner and so on. That seems more like insurance than keeping your coins safe, which is your job and fairly easy if you do not have a big cash flow.

[RustyNomad]

You asked about insurance. I recommend that you look at their site as they do offer the kind of insurance you are looking for i.e. backed by a third party and legally enforceable.

I did not say go sign up with them,I just pointed out one place where you can get insurance. If you do not want advice and or want to criticize any that is given then do not come and ask for it in the first place.

As said, go to their site and actually go to the trouble of reading what they have to offer and how it works. You will then understand how the cold storage and insurance works.

[BitHash]

 No , I am sorry if what I said sounded harsh at all , I meant what they are doing is great but a tiny bit of different than what I was looking for otherwise what you offered is great , thank you for your contribution , sorry if there was a mistake on my end.

 Actually reading more,  it is exactly what I was looking for considering bitcoins, now we need exactly like this for hardware miners.