CAPVERTO Exchange accounts for the general risks to the networked trading of cryptocurrencies, and in response, the platform offers cryptocurrency insurance to its members. This insurance product feature was originally inspired by the Mt.Gox shutdown. This is one of its kinds and is delivered via a partnership with the global insurance provider known as RiskPoint.
Just like other features on the platform, this is based on smart contracts, which are collections of computer codes that are designed for automatic execution contingent on predefined conditions. Even though the contracts are based on the blockchain technology at its core of modern digital currencies, they involve deep synergies with it. This includes wider transparency, ledger immutability as well as security via cryptography.
CAPVERTO insurance service
Via the cryptocurrency insurances, you as a CAPVERTO Exchange ICO user you will gain crucial and highly specified financial protections against major potential unexpected losses on your crypto-assets such as theft due to vulnerabilities within the system.
Cryptocurrency insurance is an effective measure for the cyber insurance industry, a sector which has attracted a lot of attention in recent years aiming at combating the rising costs for data breaches. PwC has identified it to be among the potential market that made a fortune worth $2.5 billion in 2015 and is expected to make $7.5 billion by 2020. There is likely even a large room for further growth than that due to the cybercrime rising rates which include the attacks against the cryptocurrency exchanges which costs the industry hundreds of billions of USD each other.
CAPVERTO integrated the cryptocurrency insurance within its platform where it works in concerts with other security measures that ensure that your investments and data are safe as possible as they can be. The CAPVERTO system employs the two-facto-Authentication, KYC, AML as well as proof-of-address that help minimize any risk to assets from cybercriminals who are always seeking to gain access inside the cryptocurrency exchanges and leverage access for theft. In partnership with RiskPoint and by employing multiple layers of protections, CAPVERTO Exchange guarantees insurance to its users in a situation of loss. This will allow its users to buy and sell within the CAPVERTO Exchange platform without having to worry about the security of their crypt-assets. The main target is to a conducive environment for the unbanked and underbanked individuals to involve in the financial system without having to worry and being free from all barriers as well as risks that might have faced other digital currencies platforms.
CAPVERTO Exchange platform that offers insurance services to its users aiming at protecting them from unexpected risks which might lead them into losing their crypto-assets. This insurance does not cover trade losses but only aims at covering losses that might occur due to theft caused by technological vulnerabilities that might lead to cyber attacks. Throughout the cryptocurrency history, there have been some attacks that led to hundreds of billion dollars of digital money being stolen. This left many investors in loss and CAPVERTO is focusing on preventing its users from incurring any loss in the future. That is why CAPVERTO employed some security measures as well as an insurance service to cover the loss in case of attacks.
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