Abstract
Cryptocurrencies have grown to be a popular financial product, irrespective of not being regulated by a central bank. It is worth noting that an increase in the number of people using cryptocurrencies, will result in an increase in the risks associated with cryptocurrencies. Cryptocurrencies utilise blockchain technology for protection, but as seen with trying to protect valuable assets such as gold, no solution is 100% effective. Businesses, and individuals operating in the blockchain industry are exposed to crypto-related risks, and therefore require insurance to mitigate and protect themselves against these associated risks.