Coincover has announced that it has made its crypto protection technology available to individual crypto wallet holders.
Providing protection against loss of access and theft, Coincover’s preventative technology is backed by an insurance policy underwritten by select Lloyd’s of London insurers. With this new offering, Coincover makes access to the digital currency market safer for existing and new individual crypto investors.
According to recent information, hackers stole a record $14 billion in cryptocurrency in 2021 and losses from crypto-related crime increased by 79% compared to 2020, due to an increase in thefts and scams.
Coincover’s Personal Cryptocurrency Protection is a set of technologies that protect, secure and recover digital assets. Their proprietary Hack Checker technology identifies suspicious activity including unauthorized transactions on digital wallets and analyzes customer transactions to protect cryptocurrency users. The Seed Phrase Vault solution ensures individuals can recover access to funds in the event of a disaster, business failure, or loss of access.
The technology behind Coincover’s personal cryptocurrency protection is based on the same technology that Coincover uses to protect the digital assets of its more than 200 corporate clients, which include many global cryptocurrency exchanges and cryptocurrency providers. wallets. Last year, Coincover verified and validated over $10 billion in transactions.
“Today, the biggest barrier to widespread adoption of cryptocurrencies is the lack of adequate protection. This barrier has slowed the adoption of digital currencies and it is an issue that we are addressing at Coincover,” said said David Janczewski, CEO of Coincover, “Coincover’s personal cryptocurrency protection will provide peace of mind to our customers and allow many more people to enter the market. Our mission is to make cryptocurrency safe for anyone to hold and use. Without a way to protect cryptocurrency assets and their investors, the market will not reach its full potential.