A New Way To Financial Insurance and Prosperity
Cryptocurrency has risen in popularity and value at an astounding rate. Currently, the market cap of cryptocurrency stands at $2.05 trillion which matches Italy’s economy – the eighth largest in the world.
Reports of cryptocurrency getting lost seem to dominate Bitcoin news and leave many viewers and watchers mystified. In 2022, reports show that over 1,500 bitcoins go missing daily. A slew of issues are to blame, but three are most common. First, lost private keys are often behind the disappearance, with 20% of Bitcoin being sidelined due to lost wallets. Second, drops in the market can prompt loss, with $1.7 billion in American trading lost due to this in 2018. Lastly, corruption or crashes can be to blame, with approximately one out of each 1,500 files getting corrupted.
A new financial backing model has arised: cryptocurrency insurance. Potentially transformative for payment processing, infrastructure, wallets, financial service platforms, and exchanges among other financial utilities, the $3 billion industry of cryptocurrency insurance is gargantuan and growing.
The process of insuring with cryptocurrency and NFTs consists of three steps. To start, identify providers, get quotes. The second step is to compare crypto insurance premiums among providers. Choosing protection, a safety plan for your insured investments, is the last step.
Put your trust, and your financial future, in cryptocurrency insurance.