Dubai, UAE, Feb. 21, 2023 (GLOBE NEWSWIRE) — Recovery Crypto, the world’s first insurance system for crypto enthusiasts, has announced its new platform that allows users to insure their tokens should they lose access to their wallet. The service covers decentralized and cold wallets while securing any number of tokens users may hold, including stablecoins and NFTs. Recovery Crypto provides users with peace of mind, ensures access to insured assets and is scheduled to go online in February (TBD).
Recovery Crypto is a decentralized solution that uses algorithms and smart contracts based on DAO principles, where the wallet owner appoints trusted validators to verify lost access, or defines the recovery wallet from the start. Built with the latest Web 3.0 and blockchain technology, this groundbreaking product offers affordable recovery options for all blockchain users. For larger crypto holders, advanced features are available. Confidential information such as seed phrase and password is never shared with the Recovery Crypto system.
This system is a groundbreaking solution in cryptocurrency as it eliminates the need for a seed phrase or password while successfully recovering all sizes of assets. Recovery Crypto sets a new standard for safe and efficient performance of crypto recovery. The system ensures the transparency of the blockchain by allowing users to choose their own rules and have them governed by validators. This means that the integrity of the recovery process is maintained and cannot be tampered with by any third party. Auditor acts as proof of this so that the recovery process remains transparent and secure. The Crypto Recovery system can recover many cryptocurrencies from multiple blockchains and store them in pre-approved DAO for added security, until the owner decides where to transfer them to. This makes it a versatile, decentralized and robust solution for recovering lost or inaccessible crypto-assets.
By the end of 2022, the number of crypto wallet holders reached a staggering 420 million, marking a growth of 120 million from the previous year, according to tripleA. With this rapid increase in ownership of crypto wallets, the risk of losing access to these wallets and their valuable assets has also increased. About 30% of the total Bitcoin supply has been lost, and it is estimated that other cryptocurrencies have suffered similar losses, potentially totaling 20% of the crypto market capitalization. In light of this, the Recovery Crypto platform has become a crucial tool for crypto holders who prioritize the security of their assets.
“We truly believe that Recovery Crypto will ensure a safer place for crypto holders, crypto investors, crypto enthusiasts and crypto critics in the blockchain space. Our mission is to create an independent, verifiable and secure way to ensure recovery of assets in case of loss. You can think of it as insurance: you buy a car, buy the insurance, and you drive away knowing you’re covered in case of an accident or emergency. You don’t have to trust anyone – but emotionless decentralized smart contracts are built to execute. This was the real approach we built into the blockchain for the benefit of all. We have not found a similar technological solution in the market. While doing so, Binance CEO Changpeng Zhao said in an interview about the lack and need for such technologies in the crypto space. As crypto matures, still volatile, but step-by-step becoming a staple in many people’s lives, we believe that our technological solution will benefit the entire crypto world the ace cabinet, whether it’s a small crypto enthusiast or a crypto whale holding the currency for the long term, said Crypto Recovery co-founder Greta Sapkaite.
About Recovery Crypto:
Recovery Crypto is a fully decentralized recovery tool that secures the transfer
of assets from the original cryptocurrency wallet after it has been lost.
The smart contracts are built on a blockchain DAO strength, where the user appoints Validators who are responsible for verifying the loss of access to the original cryptocurrency wallet. Validators can be natural trusted persons, or the user can act as a validator using other devices.
Therefore, there is no need to worry about how and where to store your seed phrase, as Recovery Crypto does not require you to enter any of it. You don’t need to disclose private information to third parties, while the cost of the Recovery Crypto system’s insurance of your assets is reasonable, including the Freemium version to try its benefits. Learn more at
