Crypto

How to insure when investing in cryptocurrencies in 2023? – ₿magazine

Investing in cryptocurrencies requires rigor, will and mastery of financial investment methods. In the long term, it is necessary to buy assets so that they grow in value and so that they can be resold for more money later. If a deposit has been able to prove itself through various enrichment strategies, it is not without risks and requires some precautions to be taken.

Cryptocurrency transcends reality and reminds us of the alternatives to finance and economics that we traditionally hear about. It is available to both amateurs and professionals. The potential gains are just as important as the potential losses. That’s why it’s a good idea to learn about relevant sites first when you’re getting started. After that, getting insurance should be an important next step in your journey.

Get crypto insurance

Obviously, investing in cryptocurrencies is associated with fluctuations and stock prices. Your economic wealth will have its ups and downs. However, your goal remains that it does not collapse in case of bad times in your investment. Cryptocurrency returns are known to be inaccurate because it is always in motion and you don’t know what will happen tomorrow.

The purpose of insurance is to cover and protect you financially in the event of problems, damages and incidents. Today, several insurance companies offer formulas tailored for cryptocurrency investorswith, for example, Hiscox in the most famous. Hiscox allows you to pay off certain debts and protects you from the vagaries of the financial markets. Ask them to get custom made cases.

Warning, most insurances offered by cryptocurrency platforms and custodians only cover tokens.. Tokens are tokens placed on cold wallets, which are sometimes far from sufficient for activity.

Even if it means being insured in the context of cryptocurrency investing activities, you can also think big. Several online comparison sites offer to compare the best deals for your needs. Feel free to contact directly the companies that can help you, because Cryptocurrency is still something new in the insurance industry. Most traditional agencies do not take this factor into account. You still need to be a little vigilant before you get full coverage on your investment, but that doesn’t mean it won’t happen. On the contrary, you can even outperform most companies by investing through Bitcoin.

Read also Who are these bitcoin mining rebels defying China’s ban?

The impact of cryptocurrency on insurance

Cryptocurrency works by investing in Bitcoin and creating a whole new asset class for investors. Protected by the concept of blockchains, the latter guarantee complete security and transparency. for technical interventions, quickly and efficiently in the financial markets. But at what cost?

Today, almost 56% of companies in the insurance industry see the importance of blockchain. Unfortunately, proposals for the appropriation and protection of this innovative technology are still very vague. Some companies are even finding a way to automate the management of their contracts this way, and as of 2020 they are even offering insurance that allows you to register directly on the Bitcoin blockchain.

If bitcoin can become the money of tomorrow, it will become important that insurance can cover expenses, purchases and investments through it. We are talking about today cryptocurrency as an engine of innovation which will develop over the next few years. A European-regulated cryptocurrency also allows you to hedge against tomorrow’s risks through the financial reduction offered by blockchains and bitcoins.

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