London-based cryptocurrency bank Ziglu has launched a crypto insurance program with an aim to offer enhanced security and assurance to the users holding cryptocurrencies in a Ziglu account.
The cryptocurrency market has often been referred to as the Wild West due to a lack of regulation and oversight. It is particularly attractive to the small and mid-sized firms who wish to have the ability to bypass the commercial, financial system, the complex regulations, and the exorbitant fees that come with it.
Ziglu’s crypto insurance to drive crypto adoption rate
Needless to say, there is a meteoric rise in demand for custodial services and crypto insurance programs that safeguard these cryptocurrency assets, and Ziglu is leveraging the rising market demand. With the new launch, each Ziglu account holder will now be protected against cybercrimes and covered up to a value of £50,000 per customer at all times.
According to Ziglu, although a majority of their customers choose to store their digital assets in cold or offline wallets, which are less prone to hacks and cyber attacks, ensuring the safekeeping of funds is a crucial step towards getting people to buy, sell and trade in crypto. It also gives a sense of security to the first-timers and amateurs who aren’t much aware of some of the hidden threats.
Ziglu’s crypto insurance will now let users store, hold, and freely transact in multiple fiat and cryptocurrencies without having to worry about cybercrimes that particularly made cryptocurrency exchanges as their soft targets. The secure and transparent model boasts no hidden terms and conditions and fees and offers competitive transaction rates.
Ziglu envisions stress-free crypto trading
When asked Mark Hipperson, the co-founder of Ziglu and former Barclays executive, which accounts are most vulnerable to cybercrimes, he said that it is mostly hot wallets that pose a threat. However, because the cybercrimes are evolving each day, Ziglu’s crypto insurance will cover its users against a broad spectrum of attacks.
We want to enhance our financial inclusion, accessibility, and presence in the cryptocurrency market. We want our customers to know that we can deliver the best available prices for crypto and a platform that not only enables spending, buying, and exchanging regardless of your location and preferred choice of currency but is bolstered by top-notch security.