Post
Topic
Board Economics
Re: Insuring the crypto assets. Is it possible?
by
Bitcotalk
on 29/11/2018, 12:02:26 UTC
i don't think it can be done at this time, we know that the regulation in my country doesn't exist yet, whereas to insure it, of course something must be approved by government, of course this is still difficult
We are focusing on the fiat currency once again. The question is not "can we insure the price point we get into bitcoin", that is idiotic. No you can not guarantee the price of bitcoin as an insurance company, are you insane? However insurance companies can insure the storage of your bitcoins and so forth, if your money is stolen and what not.

They won't do it for everyone and every option since they wouldn't know to trust you but they can insure places like wallets and exchanges for that reason. That way one insurance company will say "give us x amount of fiat/crypto and we can insure that your coins in binance will not be stolen". In which case if your money stays there, insurance company wins, if your crypto gets stolen there they will find a way to make that money but at least you will be safe knowing that they will pay you.