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InSure Defi - $SURE

It is a "defi crypto insurance". You just have to hold the coins in your wallet and you will be insured in case of loss of funds. They cover scams, massive devaluation, and glitches. I like the idea, in theory. I had never seen a coin like this before investing. Since investing I have seen a few other defi insurance coins. It looks like only about 700 people hold the coin. I can't tell if I'm early, or stupid. There is about a 100mil market cap. They have small engagement online, but in dealing with the employees they seem genuine, and the partnerships they have announced are in fact real, like the recent partnership with Chainlink-$LINK. I started to provide liquidity to benefit from their rewards system, but after like 4 only days of providing liquidity, the price changes have resulted in me losing like 10% of my holdings. So I withdrew my funds. Idk, it all looks legit, but it feels like their is something weird going on that I can't quite put my finger on. Any help or thoughts would be appreciated. Thanks yals

TL/DR: Is InSure Defi - $SURE a shit coin and did I waste my money by purchasing it?

Their website:

https://insuretoken.net/index.html

InSure Defi - $SURE It is a "defi crypto insurance". You just have to hold the coins in your wallet and you will be insured in case of loss of funds. They cover scams, massive devaluation, and glitches. I like the idea, in theory. I had never seen a coin like this before investing. Since investing I have seen a few other defi insurance coins. It looks like only about 700 people hold the coin. I can't tell if I'm early, or stupid. There is about a 100mil market cap. They have small engagement online, but in dealing with the employees they seem genuine, and the partnerships they have announced are in fact real, like the recent partnership with Chainlink-$LINK. I started to provide liquidity to benefit from their rewards system, but after like 4 only days of providing liquidity, the price changes have resulted in me losing like 10% of my holdings. So I withdrew my funds. Idk, it all looks legit, but it feels like their is something weird going on that I can't quite put my finger on. Any help or thoughts would be appreciated. Thanks yals TL/DR: Is InSure Defi - $SURE a shit coin and did I waste my money by purchasing it? Their website: https://insuretoken.net/index.html

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[–] [deleted] • 0 pt

Crypto is a security. Any financial instrument which can be traded is a security. Any organization which trades in securities are subject to security laws.

So, basically, anytime a company holds crypto currency in someone else's name, they have created an investment contract. This is the reason why Kraken, Coinbase, etc are regulated by the SEC. They have to register the security with the SEC.

If the company OP is talking about isn't registering the investment contract with the SEC they are in big trouble.

The upside here, is that Bitcoin is considered a "sovereign currency" by the SEC. which means, by itself, it isn't regulated. It only becomes regulatable once a contract is created that involves a non-soverign security.

Think of it this way, if you have JPY, that's not regulated by the SEC, because it is sovereign. However, when you go to the bank and exchange it for USD, at that point the transaction falls under security law.

Still don't believe me? Read up on what happened to Bitcoin Trader.