Singapore broker arranges first Crypto Currency Storage Insurance
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Owners of crypto currencies have "
Although the focus of our brokerage activities is digitised online insurance, this type of insurance will also serve the needs of personal clients with digital interests. Crypto currency holders run risks that they need to protect and that is the essences of what both Silver Bullion and Insurance Market enable here: to protect people's wealth and health, says Insurance Market CTO
Insurance Market was in the news last month when it announced that it will act as sponsor and lead of a group of insurance companies and distributors that will participate in the further development and roll-out of the new pilot insurance eco system "Inmediate" that will make insurance cheaper, easier and more accessible, using blockchain smart contracts.
"The insurance we have obtained has comprehensive coverage that protects crypto currency owners from loss of their stored private keys. I believe it will give our customers peace of mind knowing that their crypto wealth is truly secure with us," says
Physical crypto storage is used in the cryptocurrency world by investors who want to preserve their digital assets for a long-term investment. Keeping them at exchanges and hosted wallets puts them at risk of losing all coins in an instant. Physical crypto storage entails generating and storing the crypto coin's private keys in an offline environment such as a vault, away from the internet.
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