Incodium safeguards investors against losses incured in exchange hacking incidents
The cryptocurrency and blockchain market is growing at an exponential phase. The adoption of blockchain technology is gaining popularity as well.
As of second quarter of 2018, the cryptocurrency market reached an evaluation of a whopping $250 billion. As with any new technology, security threats are ever present. We have seen some of the worst ICO scams and cryptocurrency hacks in the past couple of years. These incidents resulted in users losing a substantial portion of their digital assets.
Cryptocurrency exchanges are among the worst hit in these scams. The biggest problems that exchanges face is that there is no pre-defined process to compensate users who are victims of the hack. Even when the exchange provides support and compensation, it usually takes weeks and even months before users get back a portion of their lost digital assets.
Hacking also negatively effects the crypto market. Given the fact the Bitcoin and other currencies are highly volatile, this ends up further eroding investor confidence in digital currencies.
Enter Incodium:
Incodium is a project that was created to specifically remedy this problem. This platform provides compensation to users who have fallen victim to cryptocurrency hacks. This ensures that the user receives his lost currency on time.
Incodium guarantees that the affect users will be compensated for their loss. In case the user is already a part of the Incodium platform, they get added benefits. All the compensation amount is delivered to the user on their Incodium Mobile Wallet App. Users can even earn INCO tokens by sharing data, writing reviews and making recommendations inside Incodium’s ecosystem.
Users can also purchase retail products using INCO tokens. The platform has already partnered with notable retailer networks to offer over 10,000 clients to choose from. Users are also eligible for coin-back rewards when making their purchases.