There is less than $5 billion of global capacity to insure crypto wallets held in custody. Coinbase has secured a significant chunk of that.
Coinbase has had crypto insurance since 2013
The #Crypto Insurance Market May Total $6 Billion. That's Nowhere Near Enough #fintech #insurtech #blockchain
Really interesting article on bitcoin insurance. Without a history of losses and claims, insurance is pricey--around 1-2% a year. Seems quite a bit higher than other bearer assets like cash and gold.
A chicken-and-egg problem for the insurance industry: there is almost nothing to go on in terms of a history of losses and claims. via
2/First things first: as the headline indicates, today confirmed what reported in back in November — the company has >$250M of cover. Which is cool, but it gets more interesting....
Though still in early days, the crypto insurance market could be worth $6B in premiums. #blockchain #FinTech #InsurTech