COINSTRAT FUNDS ARE SECURED AND INSURED BY BITGO 700 MILLION DOLLAR INSURANCE PROGRAM

July, 2022 - Coinstrat.com, a rising crypto platform announced to appoint Bitgo as its Prime custody. Company funds are secured and insured by Bitgo 700 million dollar insurance program.

In 2022, Coinstrat became one of the first crypto platforms to provide high yield dual investment for its clients. Since then, the company started to attract new and seasoned crypto enthusiasts who seek higher profit and still maintain relatively low risk.

“Coinstrat takes security seriously, and we  want to ensure that our client funds are not only secured but also insured by the top Prime Custody in the industry. That’s the main reason behind the fact that we appoint Bitgo as our Prime Custody” - said Rafi Davidson, Executive Manager of Coinstrat.

Bitgo was one of the first service providers to build a strong insurance program for crypto. This policy covers digital assets where the private key are held 100% by Bitgo Trust Company or Bitgo, Inc. in the event of:

• Copying and theft of private key
• Insider theft or dishonest acts by Bitgo employees or executive
• Loss of keys

The amount of coverage by this policy is 700 million dollars. The insurance is provided by a syndicate of Insurers in Lloyd’s of London and European marketplace. There is no additional cost to Coinstrat’s clients. 

• Coinstrat deploys multiple security architectures to prevent risk and limit the breach affecting more than one wallet.
• Coinstrat maintains segregated client’s wallets to the company's wallet.
• Signing a transaction is a rigorous and scrutinized process that takes 24 to 48 hours because of the policy and process check.
• Coinstrat has policies and procedures for changing personnel, restoring systems in the event of local failure, as well as strong audit logging and access control.  

In the event of theft or direct loss of property, how would an insurance payout be distributed?

Coinstrat will make its best effort to distribute insurance recoveries across all clients who have suffered losses. In the event that total losses exceed total insurance recoveries this does not change Coinstrat‘s legal obligations outlined in customer agreement. 

About Coinstrat

Coinstrat is a rising platform in digital asset financial service, providing retail investors with trading, custody, interest earning account, crypto-backed loan, dual investment and security solution. In 2022, Coinstrat is one of the first crypto platforms in the world to provide high yield structured products such as Dual Investment with high APY up to 300%. Coinstrat appointed Bitgo as the Prime Custody with a 700 million dollar insurance program.

Read more:

https://www.coinstrat.com/en/blog/all/dual-investment-bonus/

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