Which Bitcoin should be invested in Bittrex?

Bitcoin exchange Bittrex gets insurance coverage of $ 300 million

Now that the Winklevoss brothers have their own insurer for their Gemini cryptocurrency platform, the next Bitcoin exchange is getting insurance coverage against hackers. After all, 2019 was a record year for cyber attacks against Bitcoin exchanges.

With 283 million US dollars, the hackers were able to steal less money than in the previous year, but there is still every reason for stock exchanges to be vigilant. That is why the US Bitcoin exchange has taken out a policy for the exchange's own cold storage.

This means that crypto keys are stored on hard drives that are not connected to the Internet. Marsh help negotiated the contract for Bittrex. Together they succeeded in placing the insurance with Arch Syndicate in 2012 on the Lloyd’s of London insurance exchange. The new insurance cover also applies to attacks from outside as well as to theft from within.

In order for crypto currencies to prevail at all, experts have long been calling for the assets of Bitcoin and Co. to be insured accordingly. The Winklevoss twins (Cameron and Tylor) had a proprietary insurance company, Nakamoto, Ltd. two weeks ago. (Nakamoto), founded. This is intended to insure crypto assets that are traded on the Bitcoin platform Gemini. The coverage is $ 200 million, reportedVW today.

Author: VW editorial team