Topic: cryptocurency is real money real asset but why not insured? - page 2. (Read 662 times)
There is always risk that always involve in cryptocurrency, for me it's a good for the consumer but not quite good for the insurance provider. They can't guarantee the safety of your account and predict the volatility of crypto and they will only get bad reputation if someone pursue it, So decision making and risk taking will be a huge factor when you're in cryptocurrency.
Cryptocurrency doesn’t need insurance since main purpose is to give you freedom, and that freedom means complete control over your wealth, and that means you will be the one running the risks for yourselves, without banks and other financial institutions.
So, don’t expect that there is going to be any insurance being given to you, you’re on your own when it’s cryptocurrency that we are talking, and there is a huge risks, another reason why you have to be careful with how much you’re storing in cryptocurrency, everything is all about risks. Try to make use of good wallets that are reliable, and know the pros and cons of the wallet to you’re using, and try to avoid the cons as much as possible.
So, don’t expect that there is going to be any insurance being given to you, you’re on your own when it’s cryptocurrency that we are talking, and there is a huge risks, another reason why you have to be careful with how much you’re storing in cryptocurrency, everything is all about risks. Try to make use of good wallets that are reliable, and know the pros and cons of the wallet to you’re using, and try to avoid the cons as much as possible.
The reason why cryptocurrency does not have insurance, the answer is very simple, because crypto is very vulnerable to being hacked.
So in my opinion very few insurance companies dare to guarantee insurance for crypto owners. And even though there are insurance
companies that dare to guarantee, I am sure the monthly installment is very large. As far as I know Binance has provided insurance
facilities for its users, that's why Binance has grown in popularity, as not many exchanges have dared to provide insurance.
So in my opinion very few insurance companies dare to guarantee insurance for crypto owners. And even though there are insurance
companies that dare to guarantee, I am sure the monthly installment is very large. As far as I know Binance has provided insurance
facilities for its users, that's why Binance has grown in popularity, as not many exchanges have dared to provide insurance.
Well If the insurance provider is usdt creator and owner togethrr ETH then they can provide insurance funds un limited! So USDT and ETH creators not going in Bankcrupty
For losses you make your own insurance trading by initiating stop losses. Why would any insurer cover your own incompetence and greed? They'd go bankrupt in seconds.
And if no trader actually experienced any losses because their $10 a month insurance policy paid out the market would be completely insane. Why not make that $500 million bet when 10 bucks covers any balls ups? That's one hell of deal.
It is that simple, such a thing will create distortions in the markets and obviously whoever was dumb enough to approve that kind of insurance will go bankrupt within days as investors take advantage of such policy, and then we will be back at square one which explains why we do not have something like that, however this gives insight on the mind of those asking for this, after all they are really immature, they want all the possible benefits for themselves and yet when it comes to pay for their own mistakes they want someone else to do it for them. And if no trader actually experienced any losses because their $10 a month insurance policy paid out the market would be completely insane. Why not make that $500 million bet when 10 bucks covers any balls ups? That's one hell of deal.
There's a simple answer to it.
It's not for you.
What can you expect from a Ponzi promoter mate?It's not for you.
https://bitcointalk.org/index.php?action=trust;u=2640926
Do you think that He will give Good opinion about crypto when he was already busted from His plans?
You are looking for something which is not existing.
actually he is looking for ground to create Fud for Crypto'sThat's just too bad right? Maybe you can switch into another mode of investment or whatever you prefer that will have those options.
No one is forcing you to buy or trade crypto currencies.
Actually We don't Need Him here neither of His opinion because try to check His post History and you'll see what kind of Person He is.No one is forcing you to buy or trade crypto currencies.
There's a simple answer to it.
It's not for you.
You are looking for something which is not existing.
That's just too bad right? Maybe you can switch into another mode of investment or whatever you prefer that will have those options.
No one is forcing you to buy or trade crypto currencies.
It's not for you.
You are looking for something which is not existing.
That's just too bad right? Maybe you can switch into another mode of investment or whatever you prefer that will have those options.
No one is forcing you to buy or trade crypto currencies.
For some reason, it seems to me that no insurance company would agree to insure cryptocurrency assets. Due to the high volatility and instability of the cryptocurrency market, insurance companies run the risk of going bankrupt if they provide insurance services to cryptocurrency users.
they can do that if they think its profitable by them but in this case OP is the only person who want to benefit by having insurance . Insurance is also a business and need money to work it, the more risky the investment is the higher you need to pay for premium and that's what I think the reason why there is no insurance want to take risk for having it. 
Insurance is an industry that can make a lot of money but no one can develop in the crypto market. I know that the risks of trading or investing in crypto markets are very risky, but the important thing is that all the information there is fake and we cannot easily find them. So if insurance companies enter this market, they will only lose money. finding out cheaters or thieves is very difficult, it seems that no one can find it. Perhaps that is why there is no insurance company that dares to operate in this market.
For some reason, it seems to me that no insurance company would agree to insure cryptocurrency assets. Due to the high volatility and instability of the cryptocurrency market, insurance companies run the risk of going bankrupt if they provide insurance services to cryptocurrency users.
There is Insurepal before who said to be a insurance for some crypto asset within the platform with certain plans to choose from. I don't have any much update about them after their ICO. But maybe there are some companies that are trying to do it but sees it risky or hard to do as the market is too volatile and tends to lose if not handled well. Its3not advisable also to avail one as it may not give assurance that they were able to pay the loss we can make if ever got insured from them.
For some reason, it seems to me that no insurance company would agree to insure cryptocurrency assets. Due to the high volatility and instability of the cryptocurrency market, insurance companies run the risk of going bankrupt if they provide insurance services to cryptocurrency users.
For losses you make your own insurance trading by initiating stop losses. Why would any insurer cover your own incompetence and greed? They'd go bankrupt in seconds.
And if no trader actually experienced any losses because their $10 a month insurance policy paid out the market would be completely insane. Why not make that $500 million bet when 10 bucks covers any balls ups? That's one hell of deal.
And if no trader actually experienced any losses because their $10 a month insurance policy paid out the market would be completely insane. Why not make that $500 million bet when 10 bucks covers any balls ups? That's one hell of deal.
Do we have insurance for stocks?
You can insure your bank deposits and stock market investments. It's not worth it though. In the US the FDIC takes care of this.
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Do we have insurance for real estate?
Yes we do.
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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.
They won't. They calculate the risk. The more volatile the investment the more you'll have to pay to get the insurance.
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.
I stopped reading right there, there is no insurance company that is ever going to do something as reckless as that and not only in the market of cryptocurrencies but in any market, the moment you decide to invest in any market then you are on your own and if you do not want to deal with the losses then do not enter the markets, it is not really a complex thing to understand, even when it comes to common things like car insurance if you do not cover the basics you will not bee insured either, people do not have a basic right of being protected from their own mistakes by others, if you make a mistake then you pay the consequences it is that simple. 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.
How come someone would want to insured someone's crypto asset? Even if you say you hodl your crypto currency by depositing it on the exchanges it's still not an insurance for the company if anything happens to them if they ever gets hack. It will only works to fiat because they have the credentials of their clients so that their business will continue since they both have a contract. Where as crypto assets is different since all of the clients are anonymous. It might work out to some exchanges if they were backed by the central bank but of course it will require a KYC and this will be a centralized exchange.
Because it is not really insurable and that is the end of discussion, I don't get why people can't understand this simple fact. There are places that claim they insure it, which I never used but the real fact is, what can you really insure? You could insure the fact that a big company that has a lot of crypto could be insured with fiat equalivalence of that money, but not crypto itself, or all the users of an exchange could be insured, but fiat once again.
When you start to say that you want your crypto (your individual one on your wallet) to be insured, how could they know what you do with it? How could they be sure about insurance fraud? It is anon and you never know how insurance company could accept or deny your claim, it would be incredibly hard to do something like that.
When you start to say that you want your crypto (your individual one on your wallet) to be insured, how could they know what you do with it? How could they be sure about insurance fraud? It is anon and you never know how insurance company could accept or deny your claim, it would be incredibly hard to do something like that.
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
Wait are you trying to suggest that you want someone to insure you against making a trading loss and on futures and options trading no less. How exactly would that work lol. Also if you think that is how trading works in cryptocurrencies or any other business for that matter you really shouldn't be trading at all. Insurance is not meant to protect you from what many would argue is gambling ( the futures and options part) or because you may have made a bad investment choice and if someone did provide such sort of insurance they would soon be bankrupt lol.
And as far as exchanges go they do take out insurance against the risk of hacking. ( though most likely only the top exchanges/ regulated exchanges would be eligible for it.)
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 ,
Another reason to add here is because it is not regulated and this is difficult to do. Insurance business has to be backed by too many instrument of the law and cryptocurrency and law isn't too in the same lane because it is a personal property with your responsibility.
~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.so if cypro is real wealth real money and asset ?
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.
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!Quote
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.
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