ENSURE CHALLENGE ON
Decentralized insurance – an emerging blockchain innovation that could protect cryptocurrency holders’ assets when the crypto market crashes – has been around for a few years now, but it seems few crypto users currency are interested, at least not before the weekend.
Still, some crypto users caused the inSure DeFi (SURE) token to rise overnight amid recent discussions over whether decentralized insurance could be the crypto holder’s way out before massive losses.
$SURE Rises in Crypto Insurance Discussions
SURE jumped over 69% overnight as crypto users started talking about the possibilities offered by Web3 insurance.
The SURE token and the idea of blockchain-based insurance have been around for a few years now, but they have yet to gain much attention from the crypto space.
CoinGecko
InSure DeFi, in particular, is a community-based digital asset insurance ecosystem that allows crypto holders to insure their wallets by purchasing SURE tokens.
The project promises that transactions are “completely transparent” and “100% verifiable,” meaning policyholders can track the status of their insurance coverage at any time.
How does $SURE insurance work?
To secure their cryptocurrency portfolio, cryptocurrency users must purchase or acquire SURE tokens on the exchanges that offer them. From the dashboard, users must enable coverage.
It should be noted that insurance will only be activated after seven days of SURE contributing to the Community Vault.
The inSure DeFi team is committed to helping cryptocurrency holders protect their assets from fraudsters across the crypto space. “Our solution will protect your wallet from fraudsters and unexpected losses,” the team said.
You have the choice between several insurance plans, including:
- Beginner: 2,500 SAFE – One-third year coverage for up to $1,000 in crypto assets from scammers (80%), devaluation (70%), and stolen funds (50%)
- Start: 10,000 SAFE – One-year coverage of up to $2,000 in crypto assets against fraudsters (80%), devaluation (70%), and stolen funds (50%)
- PRO: 150,000 SURE – 2-year coverage up to $40,000 against fraudsters (100%), devaluation (90%) and stolen funds (75%)
How Do Crypto Users React to Web3 Insurance?
Not many crypto users know that SURE exists, but for those who do, they describe the token as one that can protect digital asset wallets.
For one user, SURE is “a reliable safety net for uncertain times,” especially right now when the crypto market is experiencing a downturn that has hurt Bitcoin in recent days.
Investing wisely means protecting what you’ve built! 🛡️ With $SAFE tokens, you can protect your wallet from hacks, scams, and market volatility. A reliable safety net in times of uncertainty, because peace of mind is priceless in the crypto world.@EnsureToken pic.twitter.com/2OWPqsLLuG
– Maya_Wheeler 🧱 (@MayaWhe255) December 29, 2024
Another user said the world has yet to realize how decentralized finance (DeFi) and decentralized insurance work, but when it does, “they will scream and gnash their teeth.”
One predicted that protocols around Web3 assurance “would be the new normal,” defeating projects and producing “only calculated gains.”
It remains to be seen whether decentralized insurance will soon gain more traction in the crypto space and whether other similar projects will emerge as crypto holders look for ways to protect their investments in a highly volatile environment.
