New kids on the block and cryptocurrency challenger Ziglu want to give their clients greater security and peace of mind and have launched a digit asset insurance programme to do so.
Ziglu, which only launched last month, can now offer its customers the ability to instantly and securely exchange money into digital currencies, including Bitcoin, Ether, Litecoin & Bitcoin Cash at competitive prices and monitor their balances in real-time — with insurance.
Mark Hipperson, Founder & Chief Executive Officer of Ziglu, said:
“One of the biggest concerns for users is the safekeeping of their funds and cryptocurrencies. Ziglu’s insurance programme brings peace of mind to existing customers or those dipping their toes into cryptocurrency for the first time.”
Each Ziglu customer’s cryptocurrency holdings are insured against cyber-crime up to a value of £50,000 at all times and held in a segregated account. The vast majority of customer assets are stored in offline (“cold”) wallets, meaning they are not accessible via the internet and therefore at lower risk of theft.
According to a recent FCA study, 1.9m people in the U.K. currently hold circa £3.15bn ($3.98bn) worth of crypto with 50 per cent holding less than £260 ($330) each. As consumers increasingly gain exposure to Bitcoin and other cryptocurrencies, a key concern is the safekeeping of assets.
Ziglu’s fully transparent model guarantees no hidden fees or transaction charges while the platform democratises access, providing a true multi-currency account for people who want bank-grade security and insurance coupled with a simple way of holding cryptocurrency alongside their normal money.