Not just on “Smiles”, having insurance on crypto wallets is more important: says Bitsz founder Naveen Kumar

BITSZ, an Indian crypto exchange for the world, was established with an aim to change the way people sell, buy and exchange goods and services.


Naveen Kumar

Share

Updated: Aug 18, 2021, 02:14 PM IST

BITSZ is founded by Naveen Kumar, who has over 7 years of experience as a python developer and worked on AI. Being a tech enthusiast, Naveen is immensely passionate aboutcomputer technology and its enormous power to change the way people interact with each other. He established BITSZ, an Indian crypto exchange for the world, with an aim to change the way people sell, buy and exchange goods and services.

Starting a company has become easier in the Digital Age. But, a company succeeds only when it can differentiate itself from its competitors. So, how different is BITSZ?

Recently, some unknown hackers have stolen coins worth $600 million from Poly Network. If your car or iPhone is stolen or damaged you could claim insurance. In case of crypto theft, is there a protection?

Let’s try to understand it from another perspective.

Do you know that there is a British insurance company called Lloyd’s that specializes in innovative insurance policies for unique risks?

In 2007, it had insured actress America Ferrera’s “simile” against injuries for a whopping $10,000,000. Rolling Stones guitarist Keith Richards and Marlene Dietrich had their “legs” insured by the same company for the same reason.So, why do things such as “smile” and “legs” have insurance schemes? The answer is, for certain stage performers, their “smile” and “legs” are their assets.The question is, if “smiles” and “legs” can be insured, why can’t we do the same with wallet thefts? It could be a revolutionary idea in the crypto world.

At BITSZ, users are insured against cyber hacks. To make it happen, we have partnered with Fireblocks, a world-class digital asset management firm. We now provide insurance on all our user wallets. So, in case if there is any mishap, you can still be relaxed because your wallets are insured and your investments are safe. This makes us one of the safest crypto exchanges in country.

Traditional banks offer 24/7 customer service for reporting loss of cards or suspicious transactions. The move helps in averting further frauds in the reported accounts. Likewise, BITSZ’s customer service is open 24 hours to assist it users. Customer can clear their doubts and report malicious activities taking place in their accounts.For us, not only gaining but maintaining user trust is supreme at a time when hackers indulged in stealing coins have become a routine. We are on a mission to make impossible possible and we hope you join us in this amazing journey.

Disclaimer: Brand desk content