Use a Secure Meeting Camera for Crypto Insurance Meetings

November 18, 2022

Once you get your head around the idea of using bitcoin and other virtual currencies as a store of wealth, the real benefits begin to make sense. Even though many people are aware that bitcoins are a digital currency, most people don’t know exactly how this currency works or how it can be used to help others in need. 

If you’re running a business with digital assets as its primary form of funding, you might want to understand how crypto insurance can help you save money and reduce the risk associated with investing in bitcoin and other virtual currencies. 

If you have a business check out our article on how our cameras can help you!

This article will give you an overview of the different types of crypto-insurance, their basic components, available brands, and what kinds of policies providers offer. Once you’ve read all this information, start considering building your crypto insurance strategy — or exploring options from existing platforms.

What is Crypto Insurance?

Crypto insurance is a type of insurance that allows businesses to take protection if something gets stolen like money. Like all insurances, crypto insurance covers damages inflicted on someone by Force Majeure and other unpredictabilities. The insurance company reimburses the insurance company if someone steals the money, and the insurance company protects the business owner’s financial assets.

Types of Crypto Insurance Policies

There are several types of industry-specific crypto-insurance policies, each with its own set of benefits and risks.

  • Directors and Officers (D&O) insurance policy protect you and your executive team from claims arising from your work as the company's management.
  • Errors and omissions (E&O) insurance policy, otherwise known as professional liability or professional indemnity insurance. In addition to protecting you from malpractice and negligence claims, professional liability insurance also covers errors and omissions.
  • Cyber Liability insurance policy: In the event of a data breach where hackers gain access to your confidential data or steal cryptocurrency from your online wallet, your cyber liability insurance policy will cover the loss of revenue as well as help you recover your data.
  • Commercial Crime Insurance Policy. Cryptocurrency theft is indemnified against losses. When your "hot" wallets are lost, you will be reimbursed for your digital assets.

What Are the Basics of Crypto Insurance?

The basic idea of cryptocurrency insurance is that if someone takes over an organization like your business and takes over their funds, you are protected from financial loss and theft. You can protect your money and assets in several ways. You can use the insurance company’s money-back guarantee if the original product doesn’t work, or you can buy a refundable insurance policy.

How to Use Crypto Insurance to Save Money and Get Away With It

You can use the following steps to get started protecting your assets: 

  • Decide if you want to purchase insurance. 
  • Ask friends and family members to help. 
  • Look for a local insurance broker. If you don’t have a local broker, find a nearby one. 
  • Compare rates. Make sure you’re getting the best rate. 
  • When you find a reasonable price, shop around to see what other people are paying. 
Be careful: Most insurance companies will raise the price of approved plans to account for the estimated cost of loss. 
  • Make a budget. This will help you set a better example for your family and friends. If you have to pay a lot of money in one go, think about having a savings or retirement fund put away.

Protecting your Wealth with Crypto Insurance

Once you get a clear understanding of the benefits of using crypto-insurance, you can begin to plan out how you can use the benefits to help other people in need. There are many ways to use this insurance to get financial assistance, like helping a child in need, securing a future for your child, or helping a loved one in need. 

If you’re running a business that owns or operates a physical business, it may make sense to consider investing in digital assets as a way to increase your liquidity and grow your business. This allows you to make more frequent withdrawals from your cash account and could allow you to pay your bills and make longer-term investments with low-interest rates.

Protect your Meetings using a Secure Meeting Camera

Talking with your family or insurance brokers over topics of great importance necessitates the use of secure meeting devices. Avoid video conference cameras with BlueTooth and WiFi since they can easily be accessed by unauthorized persons. 

Take a look at these meeting cameras from Coolpo. They are all USB-only which means hackers have to go through a lot more before they can hack your meetings.

  • Use AI Huddle Pana for round table or huddle video discussions. Place it in the center of the room so remote participants can see you at eye level, just like if they’re attending on-site.
  • Use AI Huddle Mini for discussions with individual presenters. Usually, if you have a physical whiteboard or infographics to show, you only need to do a hand gesture directed at the meeting camera to go into presenter mode. Even if you walk towards a different part of the room, the camera can keep on following you until you decide to disable it (repeat the gesture like shown here)
  • Use Mini Lite if you have up to 7 people in the meeting and you want each person’s face focused all the time, with a wide-angle view of the room to communicate the general “room feel”. This is also applicable to the AI Huddle Mini. The difference is that Mini Lite is much preferred by individuals (who only sometimes join in group meetings).
Did we already mention that they are all USB-only? Your meetings will always be safe.

Conclusion

Now that you know how crypto insurance can help you get away with it, it’s time to begin using it to protect your wealth. The first thing you need to do is decide if you want to purchase insurance. If you don’t want to buy insurance, a few options are available. 

You can also find an insurance broker who can help you find a local insurance broker to help you buy insurance. You may set up a meeting with a broker through the use of an enhanced camera like the Coolpo Mini Lite for a better understanding of the insurance process. You can also have other members of the family join the meeting room as it has a wide range of audio and video recognition.

Book a demo with us today to see how our cameras will help you achieve the best meetings in any transaction you’re dealing with. We provide video conference cameras that are easy to use, all-in-one, and useful for any complicated situation, without technical difficulties.