Coinsurance is an online insurance platform powered by blockchain technology that provides insurance for the principle investment in High Yield Investment Programs (HYIP). The platform provides principle investment insurance for users who have invested in HYIPs that has been added to the platform. These HYIPs include Monetize Coin, HetraCoin, and Falcon Coin. In case the HYPI does not work, the insurance returns the investors lost principle in accordance with the insurance package bought. The platform offers three insurance plans:
- 50% of the principle investment is covered. The fee for this plan is 10% that is payable in COS, ETH or BTC
- 75% of the principle investment covered. The fee for this plan is 12.5% that can be paid in ETH, BTC or COS.
- The third plan is where 100% of the principle investment is covered. The fee charged for this plan is 15% that can be paid in BTC, COS or ETH.
Current HYIP Business Model
Today, the existing HYIP model has a predictable life cycle. If you invest in them early, you are able to make good profits together with other investors, but then the tipping point comes when the system crashes. If you invest at this point or close to this point, you are likely to lose your money. In HYIP, you invest a principle amount, and the system promises to give you your principle amount together with interest. There are even additional incentives if you invite others to join the program.
However, for most of the HYIPs their business model is not sustainable, and mostly they turn out to be Ponzi schemes which collapse with time and disappear with the investors’ principle. This is where coinsurance comes in.
Coinsurance provides insurance on HYIP giving security for investors who have their investments in HYIPs added to the platform. In case the HYIP collapses, they are able to return to you all or part of your principle investment depending on the purchased insurance plan.
Coinsurance Insured Lending Contact Investments Benefits
- Coinsurance will not insure more investment than it can cover, this is guaranteed by the maintenance of bitcoin from the ICO in cold storage equal to the insurance issued to the different HYIPs. This means that the investors are not left holding the bag.
- The coins will also not be used for trading or investing and are used as backup security for the insurance policies.
- Investors who sign up for the services will be able to check their insurance details..
Coinsurance COS ICO Details
The coinsurance token is referred to as COS, and it runs on Ethereum blockchain. The token is expected to be bought and raise funds for the insurance pool which will give the platform financial stability. The token can also be used for payment of fees for the plan the investor buys on the platform. The coin can also be used for voting decisions on the HYIPs that the coinsurance platform should cover.
The Initial coin offer (ICO) date will be announced after the end of the crowd sale that will start on 1st February this year and end on 1st March 2018. The crowd sale is made up of three stages, and the price of the token will increase as the crowd sale goes on.