Bitcoin insurance. - page 6. | Bitcointalksearch.org

Xising

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Quote from: ClaytonLWils on May 26, 2018, 05:24:42 AM

Hi I eagerly want to that is there any insurance company that offers services to protect investment in btc or any cryptocurrency. If you know please share.

I am not so sure if cryptocurrency as a insurance medium would be a good one becauase, in itself, insurance is made in order to be a contingency fund, and so, it should have a value that is stable and unchanging even through time. Just like money that is placed as insurance, its value would not change even after a couple of years; however, if it is cryptocurrency, no one knows what would happen to its value after some years, or if it will still be present after such time. So, it's safer if it is with money. That can only be done if cryptocurrency when its value becomes stable.

Dukjila

newbie

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The purpose of creating an insurance company is profit. For the cripto market, insurance will go away immediately, too high jumps daily. Or the contribution should be very large and investors themselves will not risk investing money.
Therefore, no one ventured to make insurance for crypto.

Odlanyer

member

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Yes i'm agree its better if the bitcoin has an insurance because we will safe and secure that protects the world of cryptocurrency every investors.

BorisVirla

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It will be very difficult to insure what you can not touch, see. I think there will be a lot of scammers ready to provide their insurance services

Elderman87

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UniDapp

Quote from: ClaytonLWils on May 26, 2018, 05:24:42 AM

Hi I eagerly want to that is there any insurance company that offers services to protect investment in btc or any cryptocurrency. If you know please share.

The workability of an insurance project for cryptocurrency looks weak as the volatility of crypto itself makes it a very risky venture to insure not to even talk of its acceptability. There are few icos that attempted to tow this insurance line. One of them is bitrust but they have been unresponsive for some weeks now.

brightamo

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I doubt if there is any insurance for bitcoin. If there is any I think the premium will be expensive due to the risk involve in bitcoin and uncertainty of its future.

luisowens

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I don’t think anything like that exists. The cryptocurrency market is always fluctuating. The prices are never stable. I don’t think any kind of insurance is available there in the market.

GabrielBrandon

newbie

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It would be a great thing if insurance company provide their service here.

rizkypurwati

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it's not an easy thing to protect a person's digital assets even for a company even though I've never heard of warranties except the ease of transacting and guaranteeing trading activities but if any company can provide that service I'm very happy.

harimauagam

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Is there bitcoin insurance in this world if there are so many people who would be interested in bitcoin various ways to create new accounts and should be very limited for that insurance.

Gintama214

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DONATION SENPAI PLEASE <3 <3

Quote from: ClaytonLWils on May 26, 2018, 05:24:42 AM

Hi I eagerly want to that is there any insurance company that offers services to protect investment in btc or any cryptocurrency. If you know please share.

I really haven't heard an insurance company that accepts bitcoin as payment, because I do think that insurance company is not ready to invest to accept bitcoin because it is still too volatile and it is hard to predict the market price. You can try a search on google and probably you can actually see some companies that do this kind of investment that you want. You can check this site if it helps. http://innovationinsurancegroup.com/our-services/bitcoin-brokerage-agency/. Good luck Cheesy

mutrang23

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Quote from: ClaytonLWils on May 26, 2018, 05:24:42 AM

Hi I eagerly want to that is there any insurance company that offers services to protect investment in btc or any cryptocurrency. If you know please share.

No insurance company can accept this service because it is too risky. The Bitcoin market is fluctuating and volatile, so there are no insurance companies that take insurance for investors.

Jimbo Abu

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(┛❍ᴥ❍)┛彡Axi

Quote from: ClaytonLWils on May 26, 2018, 05:24:42 AM

Hi I eagerly want to that is there any insurance company that offers services to protect investment in btc or any cryptocurrency. If you know please share.

The only thing I know is that I'm not yet here but if it's a good news to say that bitcoin lovers can do great things for that because it's also thanks to this post because it might have been an idea that it could happen.

Aandosq1

newbie

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Quote from: ClaytonLWils on May 26, 2018, 05:24:42 AM

Hi I eagerly want to that is there any insurance company that offers services to protect investment in btc or any cryptocurrency. If you know please share.

The founder of Elliptic Vault said the company was the first company to offer insurance to bitcoin owners

brightology

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Bitcoin has many function used in ecosystem, where it has a function to change many people situation for good by over night, therefore bitcoin investment is a good one to be a part, or even trading, because is more profitable and full assurance.

malinin

newbie

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Yes, in fact the idea is not bad. But we will already look at the result.

Sabihtikoy

newbie

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Organisations looking to minimize the risks associated with bitcoin can now obtain virtual currency insurance coverage courtesy of Great American Insurance Group.
Standard crime insurance policies, including Great American's crime policy, currently do not automatically provide coverage for virtual peer-to-peer mediums of exchange. Crime insurance coverage for bitcoins can now be granted by endorsement to an existing crime policy."

creeps

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Quote from: worldsuccess01 on May 28, 2018, 08:16:28 PM

Its a wonderful plan bitcoin have an insurance it can be a big help to the members who need us.

If there is an insurance regarding on bitcoin , i think there must be a regulations because it can be turn to a scam if something happen to you and no one works for your claims, especially in a world of cryptocurrency. You'd better to tell someone about your wallet and other details to make sure your money will go to the person you love.

CAPT.DEADPOOL

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PHORE

I think there is no insurance for bitcoin death even when you use bitcoin you do not have insurance because it's not lawful yet that's a good idea to get you lots of bitcoins and games for your family or your next race Hold the bitcoin because it has a future

Marlo Stanfield

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Quote from: gentlemand on May 28, 2018, 05:52:53 PM

Quote from: Marlo Stanfield on May 26, 2018, 10:38:05 AM

Reading this just makes me think of BitGo when they had 2 of 3 multisig as a service for Bitfinex and just let someone withdraw 60 mil or what it was in BTC at the time.

Imagine if they were actually on the hook for their incompetence somehow rather than Bitfinex.

I believe Bitgo's methods were fine, Bitfinex completely ignored them and left themselves wide open.

I just don't see how widespread insurance can work. All the places that claim they're insured like Coinbase for hacks at their end may well find there's no pay out if they ever really needed it. A Bitpay employee opened an email attachment and lost them a million dollars. They tried to claim on their insurance and were told to bugger off.

As in Bitfinex and Bitpay's cases these losses are almost always down to incompetence and laziness. No insurer would pay out under those circumstances.

I don't think I ever followed up enough to find out what the outcome of the audit was, but I remember it being like BitGo just signing off the second signature with no security checks or anything. Do you happen to remember if there was anything more specific? Of course if Bitfinex had went out of their way to setup their service with BitGo in that way to begin with, it's their fault. But that begs the question of why they would bother having 2 of 3 when the 2nd signature just automatically signs. It's effectively the same as single signature then.

Topic: Bitcoin insurance. - page 6. (Read 971 times)