Although 50% of Americans believe that the cryptocurrency market is still full of risks and greater potential for losses, the crypto market is undeniably on the rise, and will only continue to grow for the foreseeable future. Even those who are not eager to jump into this “new” domain are aware that they’ll have to make the leap sooner than later to stay ahead of the investing game.
In fact, it could easily be argued that not having invested in crypto already, automatically puts any serious investor behind. So, what is it that’s preventing trust, and what can be done about it?
There are, indeed, some inherent risks when it comes to the crypto market and cautious investors are not wrong to hold concerns. The loss of cryptocurrencies due to illegal acquisition, missing private keys, market drops, or crashed/corrupted files, is truly something to consider. After all, about 1,500 Bitcoins are lost every day due to normal circumstances, and theft has doubled since the onset of the COVID pandemic.
Regardless of the risks involved, the cryptocurrency market has still proven to be a profitable one and now, investors can get in on the action while under the umbrella of crypto insurance.
Crypto insurance, much like any other insurance, gives investors the specific coverage they need at a competitive premium rate. Crypto insurance covers things like losses and theft and allows investors to get in the game with a sense of security for their investments.