I am interested in an insurance coverage of 300,000USDT that are stored on my Binance account. I am concerned about Binance being bankrupt same as FTX was at some point and I would like to have a cover for this specific case only.
Well, 300,000 USDT is a very large amount, if I had those funds, I would transfer them to a local bank as a deposit.
This concept does not require waiting for Binance to go bankrupt like you said about FTX.
I am storing my USDT on products in the EARN category that provide me with annual returns.
Is there any insurance you know about that can provide that?
If you
"feel" that Binance will go bankrupt, withdraw now your funds worth 300,000 USDT, just save and deposit it in Fiat Bank.
If you think all cryptocurrency platforms can no longer be trusted, such as Binance, FTX, etc.
Is there any insurance you know about that can provide that?
Insurance in cryptocurrency?
I've never heard of it and I'm also just learning about cryptocurrency in this forum, as far as I know, insurance only exists in real businesses that are affiliated with various Fiat Banks. CMIIW