Bittrex Secures Insurance for Its Cryptocurrencies in Cold Storage 

Hey ninjas, how’s the trading going? On the day, the largest cryptocurrency bitcoin is reporting moderate gains. At press time, BTC is trading at $9,475 and is up 1.41%. Top altcoin Ethereum is also reporting gains over 25 in the last 24 hours, at press time Ether is trading at $180. 

Cryptocurrency exchange Bittrex officially announced that the firm has obtained $300 million in digital insurance for its cryptocurrency in cold storage.

According to the firm's blog post announcement on the 29th of January, after working with Marsh (Major Insurance broker) they were able to obtain specialty insurance with Lloyd’s of London Insurance firm for cooperation. Lloyd’s of London officially started making Crypto-related deals back in late August 2018 when the firm began insuring crypto Custodian Kingdom Trust.

And in 2019 the firm also began insuring hot wallets for Coinbase. Marsh’s digital asset risk transfer team Co-leader, Sarah Downey, explained that the team worked closely with Bittrex in order to create an insurance solution designed to fit the firm’s needs, the insurance of Bittrex cold storage crypto’s against theft or collision. 

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