Have your attorney review your entire policy with you to determine what is and is not covered. This webpage does not alter or change coverage, nor is meant as legal advice. Some common lines of business insurance, such as directors & officers (d&o) and errors & omissions (e&o) – also known as professional indemnity insurance – can apply to a business’s digital assets and cryptocurrency portfolio.

Founder of research company tokendata, and interested in all things related to data and market structure in crypto. Accepts several different cryptocurrencies including bitcoin, ethereum, bitcoin cash and litecoin for premium payments for direct online license and permit bonds and other surety bond products. While the company's pilot program had yet to begin taking any payments, as of press time he said initial indicators looked good and demand was growing.

Nfts are largely bought and sold in marketplaces like niftygateway andsuperrare, which use the ethereum blockchain to streamline the process of physical asset exchange and remove the need for intermediaries. For comparison, the nft trading volume for february 2021 alone exceeded all of 2020 combined ($340m vs. $200m). A defi insurance policy for cryptocurrency will help make sure that the currency’s software is unhackable and executing trading and all other transactions properly, as per the smart contract conditions. M&a activity brings with it a set of exposures that can be addressed and mitigated through multiple solutions, including d&o and transactional risk insurance products. Keeping crypto safe is not a nice to have, it’s a must and it’s completely in your control, Can I insure my cryptocurrency with our help.

Though relatively a new endeavor, cryptocurrency does offer some peace of mind if you happen to be heavily invested in cryptocurrencies and nfts. With it, you can protect your digital assets, and prevent online fraud and scams on you and your customers. Consumer protection standards are becoming ever more important as mainstream investors and institutional funds increasingly turn to cryptocurrencies. The total cryptocurrency market is presently valued at over $2.2 trillion, having peaked at over $2.5 trillion earlier this year.

What is often overlooked in recent media coverage, though, is that insured custodian services were already being offered before the summer of 2018. Bitira, for instance, has partnered with custodians equity trust company and preferred trust company to offer cryptocurrency investment services for ira retirement accounts, where digital assets are insured and housed in more secure cold storage. It is critical to protect your company and its digital assets against crime and theft by purchasing the correct insurance policy. An experienced commercial insurance broker can help you choose the proper coverage and ensure that your company’s cryptocurrency is safe. More than $1.3bn has been stolen from cryptocurrency exchanges since the first bitcoin block was mined in 2009, with an average of $2.7m of crypto assets stolen every day in 2018.

"The establishment of recognized security standards for cold and hot bitcoin storage would greatly assist risk management and the provision of insurance," the firm wrote. Rakesh sharma is a writer with 8+ years of experience about the intersection between technology and business. Rakesh is an expert in investing, business, blockchain, and cryptocurrencies.

Investing in cryptocurrencies and other initial coin offerings ("Icos") is highly risky and speculative, and this article is not a recommendation by investopedia or the writer to invest in cryptocurrencies or other icos. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns small amounts of bitcoin and litecoin.