INZURA - Crypto Insurance Platform

The terms hack and scam are the most common words in the crypto ecosystem with the market undergoing numerous hacks and scams over the years. Some of these hacks are incredibly shocking with the crypto market going through a loss of roughly hundreds of million dollars worth of cryptocurrencies in only the year 2018. These instances are often and although there for sure is certain regulations to prevent scamming and hacking, there is no solution to recovering a user’s stolen or lost cryptocurrencies. This is where INZURA brings a long term solution to these problems and thus ensuring the credibility of the crypto space.

INZURA offers premium with the IZA token. Once the INZURA platform is available, users can be able to purchase premiums with the IZA token that they own. The INZURA users can be able to set the scalability of the premium value. Before a user purchases the premium they are required to submit the required details and documents. Once the premium is purchased and a confirmation is made, the value of the asset is calculated with the live price of IZA token using the FAP protocol. Each and every claim that is submitted is calculated using the FAP price at the time of claiming.

USE CASE

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The INZURA token is used to claim hacked/lost cryptocurrency. Members are able to claim up to five times the value of their INZURA token(calculation with FAP) with the premium they have purchased making the INZURA token worth five times more at the time of claiming.

To illustrate how INZURA works let me give you an example. John purchased a premium for one thousand IZA token with a premium set for a certain period of time. Meanwhile, his asset that is in the registered exchange with INZURA platform is hacked and lost permanently and it is officially press released by the exchange concerning the hack, in which the premium covers the exchange that has been hacked. If for instance, the lost crypto is worth five thousand dollars, John can submit the claim worth of five thousand dollars with premium purchased of one thousand IZA token. The price of the IZA token is then calculated with FAP. The fixed audited price of the IZA token will be one dollar and the claim leverage will be five times the Fixed Audited Price value at the time the claim is being made.

INZURA has its own best use case where the users buy the IZA token for the purpose of insurance and crypto-asset coverage only.

POTENTIAL BENEFITS OF INZURA.

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The crypto market has the potential to welcome new users and institutional members as the new members are assured of the safety of their most valuable crypto asset.

Users are provided with special premium renewal benefits, unlike other conventional insurance methods where the institutions take insurance amount from the user’s premium after the premium validity expires. On INZURA, once the premium expires, fifty percent of the token is refunded to the user’s wallet and when a premium is newly purchased within 4 days of previous premium expiration, the users get twenty percent extra token of their last premium.

There are benefits after the claim where if the worth of the premium is higher than the worth of the crypto asset in the exchange at the time of the claim, the remaining IZA token will be refunded to the user’s wallet.

CONCLUSION.

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Investing in the crypto market is risky as it leaves you vulnerable to hacks and scams but you don’t have to be hesitant about investing in the crypto market anymore as INZURA is here and it brings along a sense of relief and security. INZURA insurance helps to lay grounds for the entire crypto market to flourish.