How does Schwab SIPIC insurance protect my cryptocurrency holdings?

3 answers

• Dhanush BinuSep 07, 2024 · 10 months ago
  Sure! Schwab SIPIC insurance is designed to protect your cryptocurrency holdings in the event that Schwab fails. It provides coverage up to $500,000, including up to $250,000 in cash. This insurance is provided by the Securities Investor Protection Corporation (SIPC), which is a non-profit membership corporation funded by its member broker-dealers. It's important to note that this insurance only covers losses resulting from the failure of Schwab, not losses due to market fluctuations or hacking incidents.
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• Pascal WollnitzaDec 05, 2020 · 5 years ago
  Schwab SIPIC insurance is a great way to protect your cryptocurrency holdings. In the event that Schwab fails, this insurance provides coverage up to $500,000, including up to $250,000 in cash. It's important to understand that this insurance only covers losses resulting from the failure of Schwab, not losses due to market fluctuations or hacking incidents. So, while it's a valuable protection, it's still important to take additional security measures to safeguard your cryptocurrency.
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• Ravi Shankar KumarJan 18, 2022 · 4 years ago
  Schwab SIPIC insurance is a form of protection for your cryptocurrency holdings in case Schwab goes under. It covers up to $500,000, including up to $250,000 in cash. This insurance is provided by the Securities Investor Protection Corporation (SIPC), which is a non-profit membership corporation funded by its member broker-dealers. It's important to note that this insurance only covers losses resulting from the failure of Schwab, not losses due to market fluctuations or hacking incidents. So, while it's a good safety net, it's always wise to take extra precautions to secure your cryptocurrency.
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