Categories: CryptoNews

Bitwage Obtains Insurance on Client Bitcoin Deposits

Bitwage, a bitcoin payroll service firm, revealed a partnership with an unnamed insurance company to provide an additional level of protection for all their clients.

“By partnering with a top-rated insurance carrier, it is our goal to provide our customers with a peace of mind that their wages are in a safe place.”

In his blog post on Monday, Jonathan Chester, CEO of Bitwage, explained that the company has spent a considerable amount of time and resources to beef-up its security protocols and practices.

“Our security policies and procedures were put through a rigorous vetting procedure by top rated cyber liability insurance experts, and we obtained insurance against cyber-attacks from a top-rated insurance carrier with an AM Best Rating of A and above.“

According to Chester’s post, Bitwage consulted with Joel Weise – a security advisor and former CTO of security at Sun Microsystems – who helped design the company’s new security policy.

Related Post

The new security implementation conforms to ISO and NIST standards, and also follows best practices such as bank-grade encryption for all user data.  The new security protocols even include an annual inspection of Bitwage’s business headquarters.

Chester also tried to reassure clients by clarifying that Bitwage only stores customer deposits for a short period of time, which minimizes the risk of theft/loss.


If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Published by

Recent Posts

Top 5 DeFi Coins to Watch for 2022

The DeFi sector of cryptocurrency is valued at over $168 billion, with over $10 billion…

9 hours ago

AMC CEO Announces Plans to Accept Shiba Inu via Bitpay in the Next 2-3 Months

In a twitter post yesterday, Adam Aron, CEO of AMC Theaters, announced the company's plans…

13 hours ago

Loopring and Gamestop – What Is Up with These Two?

Loopring and Gamestop are two entities that, at first glance, seem very different. One is…

14 hours ago

The Safest Methods to Deposit into Online Gambling Accounts

The rise of online betting is plagued with inevitable setbacks. One of which is the…

14 hours ago

GenshinShibInu Price Up Over 3000% After PancakeSwap Listing

GenshinShibInu (GSHIB) is the latest meme coin that gained over 3000% in the past 24…

14 hours ago

Top 5 Hottest Metaverse Projects Right Now

As the Metaverse trend picks up, we see more and more emerging projects entering the…

16 hours ago

This website uses cookies.