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Coincover Sets Eyes on Crypto-based Insurance Service

Brian Njuguna   Sep 24, 2019 04:54 1 Min Read


Coincover, a Cardiff based start-up in the United Kingdom, has gone a notch higher by introducing a crypto-based insurance service. The primary objective of this move is deterring asset loss and theft in the cryptocurrency space. 

The novelty of Coincover has made it a reckoning force in the technological sector. For instance, it was recently asked to be one of the eleven start-ups to showcase their innovative expertise and projects to a panel comprising of Silicon Valley enterprises. 

Coincover offers an exceptional insurance service in the cryptocurrency sector. Information revealed by the firm’s website asserts that this service is unique as it is the only non-stop protection and monitoring service for crypto enthusiasts. 

The company also acknowledges that all users whose digital assets are stored in software-based cryptocurrency wallets will have them protected for 24 hours. This cover will be available for at least 100 hundred distinctive tokens. 

The menace of cryptocurrency theft

Coincover has also incorporated steadfast warning signals capable of raising the alarm in case of any malicious theft or withdraws. Cryptocurrency theft has proven to be a significant menace in the present space. Coincover seeks to eradicate this challenge whenever users are utilizing online wallets. 

On the other hand, considerable transformations are being witnessed in the cryptocurrency space. For instance, Silvergate Bank, a dominant innovative business bank focused on cryptocurrency and Fintech businesses located in San Diego, recently contemplated being a crypto lender

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