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Civic & Coincover launch crypto wallet with $1 mn protection guarantee

Civic Technologies has announced that its non-custodial crypto wallet Civic Wallet will offer a $1 million digital currency guarantee provided by Cardiff-based Coincover, a risk prevention and mitigation solutions provider.

The Coincover Cryptocurrency Protection Guarantee covers all Civic Wallet customer holdings up to a value of $1 million per wallet. This protection comes automatically when signing up for Civic Wallet, and there are no extra steps users must take to be eligible.

“We believe that everyone needs access to a neutral, trustworthy place to store their digital currency, especially in this extraordinary new financial climate. People are looking to move their digital currency so that they have more control and reliable, easy restoration if they ever lose access to their funds,” said Vinny Lingham, CEO and co-founder of Civic. “Together with Coincover, we’re now ensuring that Civic Wallet users have this unique protection.”

The partnership is expected to help navigate crypto holders during the economic turbulence and provide an additional layer of protection.

The wallet allows people around the world to store and transact with digital currency. With the inaugural Civic Wallet, users may onboard, save and buy digital currencies, including USDC, Bitcoin and Ethereum directly in the app with a bank account.

“Protection for the consumer-level cryptocurrency is long overdue. This collaboration reflects the tremendous progress Coincover has made in bringing safety, trust, transparency and accessibility to the market for consumers,” said Coincover CEO, David Janczewski.

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