YOUNGSTOWN, Ohio, March 18, 2021 /PRNewswire-PRWeb/ -- Seth Maniscalco, a leading crypto investor and Blockchain expert believes that DeFi insurance will be a rapidly rising industry this year after seeing major insurance companies scrambling to cover crypto backed securities in recent weeks.
Crypto has been hailed as an evolved financial product, but it still remains vulnerable to online theft, tech breakdowns, and human error. Numerous crypto companies have folded after being subject to online theft and piracy.
DeFi insurance is an emerging concept that increases investor confidence in cryptocurrency investment. It can be used to circumvent faulty services, digital theft and even protect crypto direct deposit services. With the addition of major insurance broker Aon offering underwriting services for DeFi insurance, this emerging industry is poised for strong growth.
Bitcoin hacks accounted for nearly $3.7 billion in lost value in 2020 according to zdnet.com. Exchanges were hacked for $300 million according to SlowMist Hacked.
"With crypto markets still vulnerable to technology failures and digital theft, the DeFi market will see 10x or more growth in 2021 as insurance companies start to realize the high demand for security in these investment sectors." – Seth Maniscalco, crypto and Blockchain investor and market analyst.
To find out more about cryptocurrency investment, reach out to Seth Maniscalco at http://www.cryptowealthcoach.com
Seth Maniscalco is a leading crypto analyst that teaches investment strategies and crypto portfolio building. He possesses a Master's degree in Blockchain Technology and manages a private investor membership site.
Robert Garcia, SHIFT Magazine
Rob Garcia, Shift Magazine, +1 (619) 316-1856, firstname.lastname@example.org
SOURCE Shift Magazine