Global markets have faced a prolonged crypto winter. The crypto market capitalization has lost about 3x from its peak in November 2021, sending $2 trillion up in smoke. Even hodlers are getting nervous amidst the current slump with no end in sight.
If you are not eager to just sit still and watch your assets rapidly depreciate, then Crypto Price Insurance from Choise.com is the solution you need.
Crypto Price Insurance is an option to fix a guaranteed minimum price when buying BTC or ETH for a period of time. And if at expiry the market price appears to be less than the insurance price, Choise.com will cover the losses. Sounds awesome, right?
The product has successfully passed the private Beta Test and is now available in the App.
You bought 0.1 BTC at a $23,804.63 rate 2 months ago – on July 29, 2022. If you just hold it, your losses for September 29, 2022 would amount to $423.16.
If you bought 0.1 BTC on July 29, 2022 with Choise.com Crypto Price Insurance and covered it with the insurance rate of $23,000 for 2 months, then you would have received 0.1 x (23,000 – 19,573.05) = $342.7 coverage in the USDT equivalent.
Thus, your losses would have been limited to $80.46*.
If today’s BTC price would have been higher than the insurance rate, your insurance would have simply expired.
How to buy crypto with the insurance
#1 – Go to your Choise.com wallet and press “Top up”, then select the bank card paying method to purchase Bitcoin or Ethereum**, tap on the “With insurance” bar.
#2 – Enter the amount you want to buy.
#3 – Select the insurance conditions. When selecting the conditions, choose a suitable period (expiry date) and the insured rate.
#4 – You can also tap on the “v” icon to see information about fees and go to the FAQ by clicking on the link “Watch how it works”.
It does not matter how you buy BTC or ETH – for USD, EUR, any other fiat or crypto – the insurance conditions are always shown in USD.
Besides, the insurance price will be charged in the payment asset and insurance coverage payment at expiry is always returned in USDT.
For more information, please, watch our video tutorial.
Active insurances are displayed in the wallet on the BTC or ETH pages. Also, detailed information regarding each transaction with insurance involved is available in the transaction history.