Salt Lake City, Utah, 17th Feb 2022, ZEXPRWIRE, Symatri and Coincover partner to add a layer of security for users’ digital assets through Kala’s Hot Wallet Insurance.
Kala Wallet has released its newest upgrade with the launch of the Kala Pro Wallet. The wallet, which currently has over 30,000 users, offers improved security for users’ digital assets through theft insurance covers. There are three insurance packages offered: Bronze – covering up to $1,000; Silver – covering up to $10,000; and Gold – covering up to $100,000 worth of crypto.
This insurance feature on Kala Pro Wallet is offered via Symatri’s partnership with the creators of crypto safety standards, Coincover.
Despite the growing popularity and adoption of crypto, there are inherent risks for existing and prospective crypto holders. One such risk is the possibility of losing your crypto either accidentally or in a cyberattack.
Coincover’s integration into the Kala Pro Wallet reduces the risks of wallet owners losing crypto assets through its insurance features. So, crypto holders can unworriedly store their digital assets, assured of financial protection. Additionally, the insurance policy is notarized on the Kala blockchain to keep an immutable record for proof of coverage.
Speaking on the launch of Kala’s Pro Wallet, Symatri CEO Darren Olayan said, “Our community of 30,000 Kala Wallet users already benefit from Kala blockchain’s inherent value and asset verification capability within the Symatri ecosystem, and with the launch of our Pro Wallet they can access enhanced protection against theft and loss… We aim to provide the most versatile, secure and usable cryptocurrency and platforms, and our partnership with Coincover supports this ambition.”
David Janczewski, who is Coincover’s co-founder and CEO, spoke of the launch, saying, “As more people benefit from their crypto assets being protected, the popularity of cryptocurrency will continue to grow, and we’re delighted to help companies like Symatri make cryptocurrency an important and useful part of people’s daily lives.”
Kala Wallet users can upgrade to the Pro version by purchasing an insurance cover from any of the three packages offered: $45 for the Bronze package covering up to $1,000-worth of crypto; $195 for the Silver package covering up to $10,000-worth of crypto; and $1,020 for the Gold package covering up to $100,000-worth of crypto.
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