The crypto insurance startup Coincover has recently launched an insurance policy which covers theft and loss.

According to Whales247’s yesterday publication, Coincover’s new service is the first of its kind. There are currently no other services which guarantees digital funds held online will not be lost or be stolen in some way or form.

Coincover’s service is centered around the 24/7 monitoring of the clients’ wallets. Warnings are instantly issued when a theft is suspected and the service attempts to recover funds in the case of a private key loss.

Coincover has taken the initiative

Additionally, the service entirely manages key backups and also has the option for cash replacement value if by some set of circumstances, the funds are indeed stolen. There is also a check which is looking for even the smallest hints of suspicious activity and if found, reports it instantly.

Unlike most projects, Coincover didn’t design its service to only work for bitcoin plus a few of the most popular altcoins. The startup openly covers over 100 different crypto assets and has recently been invited by the UK’s Department of International trade as one of the 11 insurance tech companies to share their expertise in the Silicon Valley market.

David Janczewski, the co-founder of Coincover stated:

“Crypto ownership is growing exceptionally fast and is becoming more and more mainstream. It can however, still feel like a risky investment. Digital currencies by nature are a relatively new concept for the majority of people.”

He also mentioned that cryptocurrencies have often been tied with crimes, scandals, hacks and thefts since their inception and those are the very issues his own company is trying to protect people interest in crypto from.

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Coincover Has Just Introduced The World's First Crypto Insurance Policy |
Coincover Has Just Introduced The World's First Crypto Insurance Policy |
Coincover Has Just Introduced The World's First Crypto Insurance Policy |
Coincover Has Just Introduced The World's First Crypto Insurance Policy |

Coincover Has Just Introduced The World's First Crypto Insurance Policy |

Coincover Has Just Introduced The World's First Crypto Insurance Policy |