The world of cryptocurrency is seeing rapid growth and the most adventurous investors are going headlong into this burgeoning market. The crypto market has advanced to being equal to the entire Italian economy, which is the 8th largest in the world. More than 91 billion dollars in cryptocurrency is traded every single day across 154 countries and 8,000 cryptocurrencies.
The crypto market can be a bit overwhelming and some investors are still concerned about the risks involved. It’s true that theft and loss are real issues in the crypto market. In fact, 1,500 Bitcoins are lost every day simply due to things like missing private keys, market drops, and crashes or corrupted files.
Naturally, cryptocurrency theft is also a serious concern among hesitant investors. Crypto theft has grown by about $6 billion from 2020 to 2021, especially after all the new open doors brought on by the COVID pandemic. Ponzi schemes alone are responsible for more than 2 billion dollars of crypto theft.
Hesitant investors can rest assured that there is a way to invest in crypto without having to face all the risks unprotected.
The crypto insurance industry is now worth $3 billion and growing. Investors can select their insurance carriers and the kind of coverage they want, just like traditional insurances. They can invest in crypto safely and take advantage of the still early stages of this rapidly growing market.