Okay, my deposit is insured for $50k. But if I deposit, let's say, 10 bitcoins (~450k) and they get hacked, then it turns out that they will return only a tenth of it to me? What the hell do I need such services for? And in general, what is the point of depositing my bitcoins with a third party? It's the same as depositing your dollars in a regular bank.
Exactly, that's how banks works an that's the limit of insurance! Imagine that everyone a bank would be insured for all the sum And the bank somehow loses all the money, how would they come up with the same amount?
Quite interestingly, in this scam, the limit in $ value is the only thing that makes sense, nobody would be able to repay you the same amount in BTC if they would get hacked and at the same time the price would double, where would they be able to come up with 200% the money they previously had?
As for the reason why, it's because if your company gets hacked it's your loss, if it's insured you at least have 50k.
That's how Coinbase Vault works!
Insurance only works if the currency has unlimited supply, since Bitcoin has a limited supply, it simply only people without brains can trust it.
Insurance works with gold deposits, what's the thing that prevents it working with Bitcoin?
It's no scam, I've been using them since 2021, they were just called BoB wallets then. I've never been hacked, but i think thats the point, they believe in their security that much they're willing to put their money where there mouth is. Not that crazy
And you woke up after 4 years in which you no posts to suddenly defend them in this brand new topic!
Yeah right, I mean , NOBODY has any REASON to believe you're behind this!
storing assets is calmer with hand control. 
