Types of Crypto Insurance
Crypto insurance refers to insurance products designed to protect digital assets like cryptocurrencies from specific risks such as theft, fraud, hacking, and loss of private keys. As the crypto industry grows and matures, crypto insurance is becoming increasingly important to institutional and individual investors looking to safeguard their holdings. Below are the key details of crypto insurance, its types, coverage, benefits, challenges, and the state of the industry. 1. Types of Crypto Insurance A. Custodial Insurance Definition : This type of insurance covers assets stored in custodial services, such as exchanges or third-party wallets. Custodians provide a secure environment for storing large amounts of digital assets. Risks Covered : It typically covers risks like hacking, insider threats, or any loss of assets that occur within the custody of the service provider. Key Players : Large exchanges like Coinbase, Binance, and institutional custodians like BitGo and ...