Categories: NewsNFT Games

Why do you need insurance on Web3?

https://preview.redd.it/lgx8wq2wcop91.png?width=329&format=png&auto=webp&s=1dd35a1ace9eebe79b931dac599d6574a61fd285

When you insure your digital assets, you're taking a step to protect yourself against potential losses. Whether it's a hardware wallet, private keys, or tokens, insuring your assets gives you peace of mind in knowing that you're covered in case something happens.Web3 itself is an idea based on the iteration of the world web wide alongside smart economics, blockchain technologies and more virtual assets.

But there are other benefits to insuring your virtual funds especially on Web3 as well. For one, it can help improve your overall security posture. By having insurance, you're signaling to potential attackers that you're taking security seriously and that they may not be able to gain access to your funds easily.

https://preview.redd.it/fylbemexcop91.png?width=512&format=png&auto=webp&s=b657d2b5d278bcbad3e1f1c9e5e06cf01eee8287

Firms like Degis work by verifying the validity of a claim and then releasing the funds to the policyholder. So if something happens to your funds, you can be assured that you'll be able to recover them with the help of a smart contract insurer. It's just one more layer of security that you can use to protect your virtual assets.

Insurance can also help you recover your assets in the event of a loss. If something happens and you lose access to your funds, the insurer can help you get them back. This can be a huge relief in a time of crisis and can help prevent you from losing everything.

Gamer

Share
Published by
Gamer

Recent Posts

Ledx have been so hard for me this wipe

Not being able to craft them sucks. Especially when everyone I talk to about it…

11 months ago

My interesting and unfortunate Gwent life

First I'd like to say I absolutely love this game it's quality. Basically I first…

11 months ago

Teacher Tuesday 12/Dec/2023 – ask your questions here!

Welcome to Teacher Tuesday, a thread where anyone can ask any type of question without…

11 months ago

This games balance is confusing

I’m kind of new/returning to gwent I played beta and obviously it’s a lot lot…

11 months ago

Summary of 10 Days of Draws from Chaffee’s Bundles

Level 1 Bag (Free with Atmosphere Level 2) 6 small consumable (First Aid, Repair, Fire…

11 months ago

Why is my crew at 135%?

Here's my crew - T34-85M - for the life of me I cant figure out…

11 months ago