Insure your Cryptocurrency investments with Bitrust

cuthbertola (31)in #bitrust • 6 years ago

The adoption of blockchain has gone so rampant because of the great advantages it has.Blockchain in general has made payments and transactions easy, fast and secure online. There are many other advantages it posses like transparency and ease of handling funds that made investors and onliners alike to massively adopt the innovation. Ever since then, the blockchain technology has found many other applications like the use of smart contracts in Fintechs, health, the building of neural networks to solve problems in Artificial Intelligence owing to it security, transparency, and ease of handling among others. All of these are made possible by the Etherium blockchain and other blockchains that allows projects (alternate coins- Altcoins) to be built on them. Because of this growing applications there has been the blockchain ecosystem has known the launch of many altcoins.

The Cryptocurrency industry is growing wide and gaining more ground day by day because Cryptocurrency has a large advantage over fiat money (currency). People all over the world have adopted this technology as a means of digital exchange.

The constant development of the cryptocurrency market represents a significant technology breakthrough in data architecture in the term of providing distributive or decentralized network.

Altcoin value are not set by any one other than the market and it's participants who took part in the process of buying and selling on exchange platform, these makes altcoin greatly unpredictable and puts off so many potential investors from purchasing currencies and consequently supporting the Blockchain technology movements.

The Disadvantages

Blockchain technology and cryptocurrency has there defects and disadvantages, which has made many investor loose part or all of their investment in no time. This is because the cryptocurrency market is largely unpredictable. It is not like trading the fiat currency and other traditional stocks which by study and expertise, many experienced traders can profit. The blockchain technology is new and many still have a hard time understanding it. Just because of this many investors have a problem to break even. Many altcoins have decreased dramatically in value over time opening many investors to a high level of risks and fear to invest in other altcoins. Present risk management solutions are inadequate

To bring a solution that will be accessible for regular cryptocurrency investors and users the BITRUST comes with a decentralized, easy to use peer-to-peer (P2P) cryptocurrency insurance marketplace that is based on ethereum, a blockchain- leveraging smart-contract technology. What Bitrust is offering is an easy-to-use platform that is affordable, decentralized, peer-to-peer cryptocurrency insurance platform for retail investors who have little or no trading background.

WHY BITRUST

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BITRUST is an affordable, decentralized, easy to use peer-to-peer (P2P) cryptocurrency insurance marketplace that is based on Ethereum, a blockchain-leveraging smart-contract technology. The objective of BITRUST is to be affordable for retail digital currency investors with an average monthly trading volume of between $100 and $100,000.

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The Bitrust aim to make the cryptocurrency market attractive and grants cryptocurrency enthusiasts access to the Bitrust platform thereby lowering the barriers to entry for new investors.
It also aim to promote the even greater involvement of blockchain technology in our daily lives by reducing the risk associated with investments in cryptocurrency, thereby allowing new and existing projects to flourish for the benefits of the entire system.

Bitrust is an easy to use insurance solution for investors so that new or experienced investors can protect themselves from risks associated with loss of value in altcoins. The platform allows the trader to meet insurers to insure a certain cryptocurrency position (either rise or fall). This is to serve retail Cryptocurrency investors who have an average monthly trading volume between $100 to $1000.

HOW IT WORKS

The platform allows traders and insurer to come to terms to insure a cryptocurrency position against other cryptocurrencies. For example, if a trader wishes to insure his funds against a percentage drop in the price of a particular altcoin with respect to another altcoin for a specific number of hours. He pays an insurance fee which is locked on the platform for the number of hours specified. An insurer comes to insure the trader with an amount, paid and locked on the platform. Their terms are sealed with a smart contract which is self-executing on the platform. If the price drops below the set percentage after the period of time, the insurance fee with the insurer’s funds which is locked on the platform is automatically paid to the trader by the smart contract (after a 0.1% fee is deducted).