BitGo Starts to Further its Cryptocurrency insurance policies – Crypto Daily

BitGo, the cryptocurrency custodian giant is now offering insurance for assets that it holds in excess of $100 million coverage.

According to an announcement released on the 18th of March, the platform is the first crypto assets custodian to allow its customers to buy excess limits above its standard policy. More than $100 million of insurance coverage in the crypto space was initially launched.

As this new policy comes into fruition, the assets of clients from BitGoare going to insure their assets beyond custodians $100 million coverage. The new policy will also see that many features adjustable limits and prorated premiums allow the customer to pay only for a relevant period of insurance.

Furthermore, the new insurance coverage is going to be managed by a specialty insurance broker firm Woodruff-Sawyer & Co in a partnership with Paragon Brokers.

Given the fact that cryptocurrency is a risky asset to hold, it shouldnt come as a surprise that the demand for insuring them is on the rise. Reports have previously come out stating that the protection of crypto holdings, in terms of insurance, is slowly but surely becoming a mainstream choice.

It will be interesting to see how this situation plays out. For more news on this, Crypto Portfolios and other crypto updates, keep it with CryptoDaily!

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BitGo Starts to Further its Cryptocurrency insurance policies - Crypto Daily

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