When it comes to securing one’s crypto assets, there aren’t many options that can match what cold storage has to offer. Holding your cryptocurrencies in a ledger entirely disconnected from the internet – and preferably stored in a place bolstered by other security methods – is one of the most sure-fire ways to guarantee that the assets in question won’t be tampered with.
It is precisely this form of storage that has given rise to the rapidly-expanding crypto custody industry, which offers crypto holders cutting-edge vaults paired with all-inclusive insurance policies. When it comes to so-called hot wallets, or those that are at least partially connected to the internet, insurance options have thus far been close to nonexistent. Because of the myriad of vulnerabilities and potential attack and scam scenarios that are associated with hot wallets, insurers have largely chosen to keep their focus on disconnected ledgers in order to mitigate liability, despite the convenience and ease of access that has led many to favor these wallets over cold storage options.
But now, a potentially game-breaking solution from Equity Trust Partners could make hot wallet users far less prone to losses and offer greater peace of mind to those with a need to access their assets on a daily basis.
Through a variety of insurance agreements, Equity Trust Partners and BitIRA are able to provide end-to-end insurance for our customer’s cryptocurrency assets. Whether in cold storage, a hot wallet or in transit, customer’s assets are insured at every step. This is also made possible by BitIRA’s strong commitment to security and our security partner, Fireblocks. Because we work hard to keep our customer’s cryptocurrency safe, we’re able to obtain excellent insurance coverage that works as a safety net.
BitIRA’s insurance partners are some of the best in the business with extensive experience insuring digital assets.