Recovery Crypto, the world’s first insurance system for crypto enthusiasts, has announced its new platform that allows users to insure their tokens should they lose access to their wallets. The service covers decentralized and cold wallets while insuring however many tokens users may hold, including stablecoins and NFTs. Recovery Crypto gives users peace of mind, ensures access to insured assets and is scheduled to go online on February (TBD).
Recovery Crypto is a decentralized solution that uses algorithms and smart contracts based on DAO principles, where the wallet owner appoints trusted Validators to confirm lost access, or defines recovery wallet from the start. Built with the latest Web 3.0 and blockchain technology, this cutting-edge product offers affordable recovery options for all blockchain users. For larger crypto-holders, advanced features are available. Confidential information such as seed phrase and password are never shared with Recovery Crypto system.
This system is a cutting-edge solution in cryptocurrency, as it eliminates the need for a seed phrase or password while successfully recovering any size of the assets. Recovery Crypto sets a new standard for secure and efficient crypto recovery execution. The system ensures the transparency of the blockchain by allowing users to choose their own rules and have them governed by validators. This means that the integrity of the recovery process is maintained and cannot be interfered with by any third party. The auditor acts as proof of this so that the recovery process remains transparent and secure. The Crypto Recovery system can recover many cryptocurrencies from multiple blockchains and store them in pre-approved DAO for added security, until the owner decides where to transfer them further. This makes it a versatile, decentralised and robust solution for recovering lost or inaccessible crypto assets.
By the end of 2022, the number of crypto wallet holders reached a staggering 420 million, marking a growth of 120 million from the previous year, according to tripleA. With this rapid increase in crypto wallet ownership, the risk of losing access to these wallets and their valuable assets has also risen. Approximately 30% of the total Bitcoin supply has been lost, and it’s estimated that other cryptocurrencies have suffered similar losses, potentially totaling 20% of the crypto market’s capitalization. In light of this, the Recovery Crypto platform has become a crucial tool for crypto holders who prioritize the security of their assets.
“We truly believe Recovery Crypto will ensure a safer space for crypto holders, crypto investors, crypto enthusiasts, and crypto critics in the blockchain space. Our mission is to create an independent, verifiable, safe way to ensure asset recovery in case of a loss. You can think about it like insurance: you purchase a car, buy the insurance, and you drive away knowing that you are covered in case of an accident or emergency. You have to trust no one – but emotionless decentralised smart contracts build to execute. This was the real-life approach we embedded in the blockchain for the benefit of all. We haven’t found a similar technological solution in the market. While we were making it, the CEO of Binance, Changpeng Zhao, said in an interview about the lack and need for such technologies in the crypto space. As crypto is maturing, still volatile, but step-by-step is becoming a staple in many people’s lives. We believe our technological solution will benefit the whole crypto community, whether a small crypto enthusiast or a crypto whale holding the currency long term,” Crypto Recovery co-founder Greta Sapkaite said.
About Recovery Crypto:
Recovery Crypto is a fully decentralised recovery tool that ensures the transfer
of assets from the original cryptocurrency wallet after it has been lost.
The smart contracts are built on a blockchain DAO force, in which the user appoints Validators responsible for confirming the loss of access to the original cryptocurrency wallet. Validators may be naturally trusted persons, or the User can act as a Validator by using other devices.
Hence, there is no need to worry about how and where to store your seed phrase, as the Recovery Crypto doesn’t require you to enter any of it. You do not have to disclose private information to third parties, while the cost of the Recovery Crypto system insurance of your assets is affordable, among with the Freemium version to try its benefits. Learn more at https://recovercrypto.tech
Recovery Crypto Team Contact:
contact@recovercrypto.app
This press release was originally published on this site
