PRESS RELEASE. The Estonian based company SWAG celebrates the first 2 years of international activity by signing an important agreement with Coincover, a platform providing industry-leading technical protection and insurance-backed guarantees for cryptocurrency investors. This choice allows Swag to continue its careful and constant growth trend, increasing the number of top partners and offering its users a growing number of useful services to improve performance, system reliability and economic return.
These are the main points of the deal signed between Swag and Coincover:
- The agreement reached with Coincover allows Swag to offer a new and important deposit protection guarantee for each specific customer, protecting them from the risk of their wallet being lost or that access to the cryptocurrency is limited in the event that the Swag platform is not available or accessible. A service of great importance and similar to the bank guarantee provided by the FDIC.
- In addition to the Deposit Protection Guarantee, each Swag customer “wallet” will be eligible for coverage against loss resulting from theft, underwritten by Lloyd’s of London. An advantageous premium solution useful for providing greater protection to the growing number of Swag users, while, at the same time increasing the existing differences in treatment compared to those offered by other competitors. The basic package includes $10,000 of theft cover per wallet, with the option to increase individual coverage limits for every specific customer.
- These services are made possible by Coincover’s industry-leading technology. The first-to-market backup and recovery solution focuses on preventing loss in the first place, meaning that:
o Access to funds can usually be recovered quickly rather than relying on coverage to payout.
o Insurers’ risk is mitigated so theft cover can be offered to users at a greatly reduced cost than would otherwise be possible.
“Swaggy now has the opportunity to offer high-value protection for the wallets of its users”, explains Giovanni Lionetti Ceo of SWAG, “thanks to the collaboration with a top brand such as Coincover, a leading digital company that will protect the owners of Swaggy wallets with the best professionalism. This is a double coverage for our users, who will thus be able to further protect their wallet in case of malicious activity and theft. In this way, Swag takes another step forward by further diversifying itself from the market as a premium brand ”.
With this agreement, SWAG, today among the fastest growing mining companies internationally, aims to provide a more secure platform for its customers to manage, send and receive payments. Wallet protects aim is to ensure that the customer’s assets are well-protected from any theft and in case of loss of their private key.
“This partnership represents another step towards making cryptocurrency safe for everyone to use,” said David Janczewski, Coincover CEO. “Ultimately it means users can be confident they can recover funds if something goes wrong. Problems due to human error can now be avoided by our industry-leading loss prevention technology. This minimises risk and enables coverage for theft and loss by a world-leading insurer for the best price available.”
Building the safety standard for cryptocurrency
Founded in the UK in May 2018, Coincover provides solutions for crypto ownerships, technology, cyber-security, crypto, and blockchain insurance. The main goal is building the world’s safety standard for cryptocurrency. The company’s services ensure that users and businesses never lose access to cryptocurrency funds due to user error, business or infrastructure failure. By combining advanced technology and insurance-backed guarantees, Coincover provides disaster recovery and business continuity options for cryptocurrency businesses and enables consumers to enter this exciting market safely.
The tailor made world of Swag
In two years of activity, SWAG has been able to build an important customer base by offering innovative services in the field of mining and e-wallet management. More and more performing machines, agreements with international top players, increasingly innovative technology at the service of its users through a tailor-made and turnkey service, with clear and accessible costs. These are the strengths of SWAG.
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