How to choose a crypto exchange insurance policy?

Prospective buyers should ensure they know the amount of coverage, exclusions and stability of the company writing the policy. Most experts agree that the best insurance is just to keep your crypto in cold storage, away from an online account. What Happens If Your Crypto Exchange Files for Bankruptcy?

Can centralized cryptocurrency exchanges be insured?

Regardless, centralized cryptocurrency exchanges can be insured to a very good extent. In a press release on February 2020, London-based insurance firm – Lloyd’s announced that it had partnered with crypto insurance firm – Coincover to provide insurance services for crypto assets held in hot wallets.

Do cryptocurrency exchanges offer insurance?

Some popular cryptocurrency exchanges offer insurance, but only if theft or loss results from a system or application they maintain fails to keep keys secure. Cryptocurrency insurance is a new type of coverage for the insurance industry, exchanges, and other crypto service providers.