GateHub to cover up to $100K for XRP ledger wallets

GateHub, the multicurrency wallet provider, has today launched Wallet Protect, a new service for XRP ledger wallets that provides back-up key creation, secure key storage, fund recovery and theft cover.

These new safety features, which are provided by Coincover, offer peace of mind for anyone looking to guarantee the safety of their cryptocurrency holdings.

Back-up key creation: guaranteeing the ability to access cryptocurrency should a wallet holder lose their key.

Secure key storage: preventing any third-parties from gaining unauthorized access to keys, using highly secure security protocols and access control.

Fund recovery: should it be impossible to access a wallet, either due to customer error or business failure, the user’s cryptocurrency assets will be repopulated to a new wallet, with back-up keys created.

Theft cover: if a user’s cryptocurrency were stolen or otherwise compromised and could not be retrieved, Wallet Protect’s insurance policy would provide financial compensation.

Transaction screening: transactions are checked against Chainalysis, xrplorer and GateHub fraud lists to make sure your money stays in the right hands.

Real-time scanning for suspicious addresses provided by GateHub, xrplorer and Chainalysis as well as emergency recovery of funds.