09 July, 2020

Quora Answer: Is Bitcoin FDIC Insured?

The following is my answer to a Quora question: “Is Bitcoin FDIC insured?

No.  The FDIC, as its name suggests, only insures deposits in banks, not any form of cryptocurrency.  The FDIC insurance is limited to $250,000 per person per bank.  Cryptocurrency, including Bitcoins, cannot be insured under the FDIC because it is a different class of assets, and because the value of these coins are too volatile to be adequately underwritten.



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