Lloyd’s of London backs Bitcoin vault startup Elliptic

Elliptic opened its doors offering it’s customers protection backed by the Lloyd’s of London (LYG). Elliptic Vault uses “deep cold storage”, where private encrypted keys to bitcoins are stored on offline servers and in a secure location. There’s been a number of security breaches of late and stolen bitcoins cannot be recovered as all transactions are irreversible and many people have been subject to cyber-attacks or accidental loss like this man who threw away a Bitcoin wallet worth $9 million.

Read More: Backed by Lloyd’s of London, new UK startup offers insured Bitcoin vault in Arstechnica, Bitcoin vault offering insurance is ‘world’s first’ in BBC

InvestCorrectly Staff
InvestCorrectly Staff

Latest posts by InvestCorrectly Staff (see all)

You may also like...

More in Bitcoin, Elliptic, Lloyd's of London
Overstock.com becomes first major US retailer to accept Bitcoin

Overstock.com (OSTK) had previously announced it would accept Bitcoin in 6 months but has opened the flood gates and will...