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Insurance on crypto represents a fundamental safety net to protect digital investments from theft, hacking, and technical failures. In a rapidly evolving sector, knowing the available coverages is crucial, let’s look at them in this article.  How crypto insurance protects against theft and hacking in the digital world As anticipated, in the increasingly complex landscape of criptovalute, the protection of digital assets has become a priority for individuals, companies, and institutional investors. Insurance on crypto, a sector still in development, offers solutions to protect these assets from losses due to theft, hacking, technical issues, and smart contract failures. But how does this type of insurance actually work and why is it becoming increasingly important? Insurance on cryptocurrencies is a service designed to cover the unique risks related to the management and storage of digital assets.  While traditional insurance policies fail to offer adequate coverage for criptovalute, this new form of insurance provides essential protection in case of loss or security breach. Imagine owning a significant amount of Bitcoin or Ethereum and being the victim of a hacker attack that manages to steal your funds. Without insurance coverage, the risk is to permanently lose your investments. Insurance on cryptocurrencies serves to mitigate these risks, returning the lost funds as a result of thefts, security breaches, or technological failures.  However, the operating methods and details of the coverage vary depending on the policy and the company providing the service. How insurance works: the key steps  The insurance on cryptocurrencies follows a structured process to offer coverage.  The key steps include: Risk assessment. The insurance company analyzes various factors, including the value of the digital assets owned, the security measures adopted, and the compliance with regulations by the insured. Creation of a personalized plan. Based on the evaluation, a tailor-made insurance plan is…

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Filed under: News - @ October 21, 2024 12:26 pm