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Insure Cryto

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  • 20-05-2021 3:40pm
    #1
    [Deleted User]
    Posts: 0 ✭


    Are there any companies offering insurance against loss of crypto held in a coinbase account due to hacking / misc IT issues?

    (I'm aware of hardware wallets).


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    #2
    Cabaal
    Moderators, Technology & Internet Moderators, Regional South East Moderators Posts: 28,462 Mod ✭✭✭✭Cabaal


    I would hope not, be open to awful abuse and they'd likely go out of business.


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    #3
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    I seriously doubt it.


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    #4
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    whatnow! wrote: »
    Are there any companies offering insurance against loss of crypto held in a coinbase account due to hacking / misc IT issues?

    (I'm aware of hardware wallets).

    I don’t think you can get such insurance as an individual. I think the answer is no but genuine question: besides the public 100k guarantee scheme, is there such thing as private insurance to cover your bank going into trouble and being unable to return the money deposited to your account? (which is more or less the same situation).

    Having said that some crypto platforms has secured their own insurance policy (I know crypto.com is one of them) or are building crowd funded insurance funds (not available yet, but Celsius is working on it - basically you would forgo part of the interests you receive in exchange for being a beneficiary of the fund in case something happens). I am sure there are a lot of fine prints though (as with any insurance) so it shouldn’t be seen as a silver bullet.


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