Topic: cryptocurency is real money real asset but why not insured? (Read 662 times)
There are exchanges that has insurance to compensate the losses of their users due to unexpected hacking, among them are binance and kucoin who announced and assured their users that they will return the amount hacked to their account. But if the insurance you're talking is about crypto in general, I think there's none yet. If you know how to secure your coins by using trusted wallet and you hold the keys then there's nothing to worry about. In trading, its a risky move to be able to grow your coins, and its up to you on what strategy to use to avoid losses.
Is the insurance gona pay if I Get stealed? Or They just pay When Other victims aswell?
Or They Even one User lose?
Or They Even one User lose?
We know that the Binance exchange previously compensated for the losses that its customers suffered as a result of the hacker attack. The Kucoun exchange also made such a message that all funds stolen from users 2 days ago will also be returned. Thus, we see a real situation related to the theft of cryptocurrency on the exchange and the practical solution to this issue.
Do we have insurance for real estate?
Yes. Check your country as there's insurance for real estate and that's the same with the cars.And for cryptocurrencies, there's this feature that Binance is trying to let the people adopt and that's an insurance fund. But I still don't understand how it works til' now.
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.
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.
It can't be insured.If you want to insure it,just convert it into real money and insure that money.It's like a asset and you can hold your valuable saving on it .It will gain you some profit for sure,hold is essential one to taste the fruit of profit.Hacking will be resolved by using some wallet security application.
Is the insurance gona pay if I Get stealed? Or They just pay When Other victims aswell?
Or They Even one User lose?
Or They Even one User lose?
We know that the Binance exchange previously compensated for the losses that its customers suffered as a result of the hacker attack. The Kucoun exchange also made such a message that all funds stolen from users 2 days ago will also be returned. Thus, we see a real situation related to the theft of cryptocurrency on the exchange and the practical solution to this issue.
Is the insurance gona pay if I Get stealed? Or They just pay When Other victims aswell?
Or They Even one User lose?
Or They Even one User lose?
We know that the Binance exchange previously compensated for the losses that its customers suffered as a result of the hacker attack. The Kucoun exchange also made such a message that all funds stolen from users 2 days ago will also be returned. Thus, we see a real situation related to the theft of cryptocurrency on the exchange and the practical solution to this issue.
I wonder if cryptocurrencies have insurance, because a decentralized investment like cryptocurrency will not have insurance.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.
You should have read some few post ahead of you to get a clearer answers to this. There are good cryptocurrency exchanges with insurance relatively with cryptocurrencies, binance is one of the cryptocurrency exchange with security insurance, also, coinbase has cryptocurrencies insurance too. So, looking for that cryptocurrency exchanges with insurance then get close to the aforementioned exchanges. Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.
Is the insurance gona pay if I Get stealed? Or They just pay When Other victims aswell?
Or They Even one User lose?
I wonder if cryptocurrencies have insurance, because a decentralized investment like cryptocurrency will not have insurance.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.
You should have read some few post ahead of you to get a clearer answers to this. There are good cryptocurrency exchanges with insurance relatively with cryptocurrencies, binance is one of the cryptocurrency exchange with security insurance, also, coinbase has cryptocurrencies insurance too. So, looking for that cryptocurrency exchanges with insurance then get close to the aforementioned exchanges. Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.
Most crypto investors prefer to be anonymous
and avoid KYC procedures, so it's getting harder to get insurance.
-snip-
Harder? It never existed. And good luck trying to convert your bitcoin to fiat currency without going through KYC process.and avoid KYC procedures, so it's getting harder to get insurance.
-snip-
I wonder if cryptocurrencies have insurance, because a decentralized investment like cryptocurrency will not have insurance.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
What kind of insurance are you looking for? I doubt there is going to be any kind of insurance for investing in bitcoin. You really think insurance company can cover your losses or verify if you really got scammed? Think of the number of insurance frauds that will take place since and how hard it will be for them to investigate if your claims. Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
They are hesitant to invest because they aren't ready to take risks.
Most crypto investors prefer to be anonymous
and avoid KYC procedures, so it's getting harder to get insurance.
-snip-
Harder? It never existed. And good luck trying to convert your bitcoin to fiat currency without going through KYC process. and avoid KYC procedures, so it's getting harder to get insurance.
-snip-
I wonder if cryptocurrencies have insurance, because a decentralized investment like cryptocurrency will not have insurance.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.
The mere fact that digital currency was decentralised makes it the main reason why it is not insured. Maybe it is also the reason why government and people are being hesitant to invest in it. Well if i were also unknowledgeable about digital currency i were also hesitant to invest in it its because i wanted that my money that i am going to invest in should have insurance. But because i do have knowledge as of now i can honestly say that theres nothing to afraid of in investing in bitcoin.
I wonder if cryptocurrencies have insurance, because a decentralized investment like cryptocurrency will not have insurance.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.
Because as we know the freedom to manage our own finances, it does not require insurance. All risks that occur are the
responsibility of the cryptocurrency owner. Therefore, many people who are new to cryptocurrency are hesitant to invest.
But if we study cryptocurrency properly, there is nothing to be afraid of.
It is the reason why some people are afraid to invest in cryptocurrencies or bitcoin because there is no insurance or no guarantee of return of payment if it doesn't have any value anymore. Cryptocurrency is decentralized that no organization or the government can't control. That is why its price only depends on the law of supply and demand, and no insurance to it that makes it risky.
Indeed a reason why theres a lot of people who'd still afraid to invest in cryptocurrencies is that all the time they know that it is scam, or not real money. As i know it was been news to our national tv though not totally estated as scam or not legit but they did'nt encourage people to keep themselves engaged in the digital currency. Yes, cryptocurrency was decentralized and no organization that's why i think it was also a reason government thinks that it was a hindrance to the real money.
Not true, insurance is unnecessary in cryptocurrency. Cryptocurrency is decentralized, and you’re also made to understand that it is a volatile asset and anyone that’s investing in it is taking risk, so what kind of insurance are you looking for exactly? An insurance that’s going to save you from losing and only making profit? Lol that doesn’t make any sense.
You all are always in a haste to reap profits from cryptocurrency, but you’re not ready to face the risks that follows. If you know that you are not ready for it, then it’s best that you stay clear from anything volatile, there are stable cryptocurrencies that you can invest in.
You all are always in a haste to reap profits from cryptocurrency, but you’re not ready to face the risks that follows. If you know that you are not ready for it, then it’s best that you stay clear from anything volatile, there are stable cryptocurrencies that you can invest in.
It is the reason why some people are afraid to invest in cryptocurrencies or bitcoin because there is no insurance or no guarantee of return of payment if it doesn't have any value anymore. Cryptocurrency is decentralized that no organization or the government can't control. That is why its price only depends on the law of supply and demand, and no insurance to it that makes it risky.
There are so many types of investment that exist and I personally doubt that all existing investments come with insurance and also, for that reason we know cryptocurrency is a decentralized digital asset and I think it's natural that this decentralized digital asset is not accompanied by insurance. With this difference, I think cryptocurrency remains the best asset, because even though there is no insurance, its growth can increase so far.
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.
I do not know why this simple concept is so difficult for people to accept, in fact the whole reason banks were created at first was to secure the money of those that decided the were unable to store their own money safely, but in the case of bitcoin we have the opposite principle, the person that is holding bitcoin is completely responsible for what happens to their coins and as long as you are the one holding your private keys this responsibility cannot be relegated at all. 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.
Crypto is decentralized it's out of anyone's control and unable to work everyone can work independently so there's no need for insurance generally applies to fiat currency this is often a sort of risk management in order that the insured entity transfers the value of the potential loss to a different entity in exchange for alittle financial compensation. It's like paying one sum to the entity to guard oneself from possible future losses so when an unfortunate event occurs the insurer helps you to urge things everyone from insurance to cryptocurrencies is taken into account safe and helpful for the longer term.
Not all countries accept cryptocurrency, so it is very risky to provide insurance to crypto investors. And there are also a lot of scams
in cryptocurrency, this is what makes insurance companies hesitate to provide insurance. Most crypto investors prefer to be anonymous
and avoid KYC procedures, so it's getting harder to get insurance. After all, cryptocurrencies do not need insurance, because we ourselves
are responsible for all decisions that are made. So always be careful with all the decisions we make, because we are the ones who bear
the risks.
in cryptocurrency, this is what makes insurance companies hesitate to provide insurance. Most crypto investors prefer to be anonymous
and avoid KYC procedures, so it's getting harder to get insurance. After all, cryptocurrencies do not need insurance, because we ourselves
are responsible for all decisions that are made. So always be careful with all the decisions we make, because we are the ones who bear
the risks.
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 .)
You could use Options to do the same. Check this out. If could be useful material. Basically you can buy a put Option for the amount and the price at which you want to insure. You pay a small premium(basically insurance) for it. If the price goes any lower or even 0, your put options will have an intrinsic value and make it all back. 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 .)
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.
Quote
Do we have insurance for real estate?
Yes we do.
Quote
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.
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.
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.
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?
Assets are insured and mortgaged too; will u give your crypto asset as mortgage?
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.
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!
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
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.
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.
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.
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.
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.
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.
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.
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 ?
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 .
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.
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.
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.
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.why the big guys like coinbase and binance have not provided insurance for this ?
Quote from: https://help.coinbase.com/en/coinbase/other-topics/legal-policies/how-is-coinbase-insured
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.
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.-snip-
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.
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.
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.
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.
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.
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.why the big guys like coinbase and binance have not provided insurance for this ?
Quote from: https://help.coinbase.com/en/coinbase/other-topics/legal-policies/how-is-coinbase-insured
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."
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.
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
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.
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.
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 .)
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 .)
Jump to: