There has never been much talk about insurance in the crypto world but this project is going to be matching 2 needs by creating a crypto options exchange that repackages their insurance fall from those options. I decided to take a quick look at a project that is looking to change that in a few ways by combining options contracts with insurance. CryptoCoin Insurance is gearing up for their ICO, but is this coin really going the distance?
Here is a great example:
"A client pays insurance in the amount of 0.1 Bitcoin for the deposit in the amount of 3 Bitcoins. If the price decreases by 15% within 3 days, he gets the right to get the insurance in the amount of the deposit fall – 0.45 Bitcoins. In case of the insurance event, CRYPTOCOIN INSURANCE pays the client the insurance from the previously obtained insurances. If there has been no insurance event, the insurance paid by the client will be the company’s income."
As always with projects like this that are in the ICO phase I HIGHLY recommend you do extensive research beyond my simple video overview so you know exactly what you are investing in. Options are not for beginners!
That's all for now, until next time...
'Stache That Crypto Friends!