Bitsurance
Bitsurance GmbH is a German licensed insurance intermediary that sells annual policies underwritten by Liberty Specialty Markets, protecting Bitcoin held in self-custody on hardware wallets against fire, water, burglary, and violent coercion for DACH-region self-custodians.
- Company typePrivate
- Founded2023
- HeadquartersHildesheim, Germany
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Bitsurance does
Bitsurance GmbH is a German insurance intermediary headquartered in Hildesheim that sells annual insurance policies protecting Bitcoin held in self-custody on hardware wallets against physical risks. Founded by Chris Seedor and led by managing directors Christian Wind and Philipp Oehler, the company operates as a licensed Versicherungsvertreter (§34d Abs. 1 GewO, Vermittlerregister D-MUID-JWLDV-00) supervised by IHK Hannover. Its policies are underwritten by Liberty Specialty Markets, part of Liberty Mutual Group, with coverage limits of up to EUR 500,000 per policy and standard self-serve tiers at EUR 10,000, EUR 50,000, and EUR 100,000 priced at EUR 30, EUR 150, and EUR 300 annually (inclusive of 19% German insurance tax).
The company's core technical differentiator is a proprietary xPub-based wallet verification system that cryptographically proves the policyholder controls the insured Bitcoin wallet via a signed challenge, without ever exposing private keys. This preserves the self-custody principle that anchors the product's value proposition. The platform covers physical perils hardware wallets cannot mitigate digitally — fire, water damage, burglary, and violent coercion (the "$5 wrench attack") — with payouts referencing the bitcoin.de daily BTC/EUR rate. Distribution combines a digital self-serve application (get.bitsurance.eu), an embedded integration within the BitBox02 hardware wallet software (by Shift Crypto) as the flagship channel, referral partnerships with ecosystem players such as terahash, and Calendly-assisted online consultations for coverage above EUR 100,000 or enterprise inquiries.
Revenue is generated through annual recurring insurance premiums paid via Bitcoin/Lightning (BTCPay server), PayPal, or SEPA bank transfer. The customer base is concentrated in retail and high-net-worth Bitcoin self-custodians across the DACH region (Germany, Austria, Switzerland), with stated plans to scale across broader Europe. Bitsurance closed an undisclosed angel funding round in February 2026 led by Kristian Kläger (Portner Capital GmbH), with participation from Jeff Gallas (FULMO) and Jochen Maaß/Sebastian Schulz (Hanse Ventures), earmarked for product portfolio expansion, higher coverage limits, and European scaling.
Bitsurance firmographics
Firmographics- Name
- Bitsurance
- Legal name
- bitsurance GmbH
- Website
- https://bitsurance.eu
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Bitsurance GmbH is a German licensed insurance intermediary that sells annual policies underwritten by Liberty Specialty Markets, protecting Bitcoin held in self-custody on hardware wallets against fire, water, burglary, and violent coercion for DACH-region self-custodians.
- Ownership category
- akta.pro rank
Bitsurance industry classification
Industry- Product category
- Crypto Asset Insurance
- NAICS
- Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Decentralized Insurance / Coverage Protocols (FSADAMAI)
Keywords
Where Bitsurance is headquartered
LocationHeadquarters
- HQ city
- Hildesheim
- HQ country
- Germany
- HQ region
- Europe
Offices1 record
Markets served
Bitsurance business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Bitcoin Hardware Wallet Insurance (Annual Premium): Bitsurance acts as an insurance intermediary (Versicherungsvertreter mit Erlaubnis nach § 34d Abs. 1 GewO) for Liberty Specialty Markets. Revenue is generated through annual insurance premiums paid by policyholders. Three standard tiers: up to 10,000 EUR coverage at 30.00 EUR/year, up to 50,000 EUR at 150.00 EUR/year, and up to 100,000 EUR at 300.00 EUR/year (all inclusive of 19% insurance tax). Payments accepted via PayPal, Bitcoin/Lightning via BTCPay server, and SEPA bank transfer. Individual higher coverage amounts are handled via online consultation. The 'Community Nachlass' feature reduces total cost through a commission waiver structure. Annual billing by default.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | 10,000 EUR coverage — 30.00 EUR/year |
| Subscription | Annual | 50,000 EUR coverage — 150.00 EUR/year |
| Subscription | Annual | 100,000 EUR coverage — 300.00 EUR/year |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Bitsurance product offering
Product offeringCore offering
Bitsurance is a licensed German insurance intermediary (Versicherungsvertreter nach § 34d Abs. 1 GewO) that sells annual insurance policies covering Bitcoin held in self-custody on hardware wallets (BitBox, Ledger, Trezor) against physical risks such as fire, water damage, burglary, and violent extortion ($5 wrench attack). Policies are underwritten by Liberty Specialty Markets (Liberty Mutual) and offered at three standard tiers (10,000/50,000/100,000 EUR coverage) with custom enterprise coverage up to 500,000 EUR available.
Product overview
Bitsurance offers a specialized Bitcoin insurance platform for self-custody users, consisting of a core insurance product with multiple coverage tiers (10,000 EUR, 50,000 EUR, and 100,000 EUR) plus custom enterprise coverage for higher amounts. The platform integrates directly with BitBox hardware wallets through software partnership, while also supporting Ledger and Trezor wallets. Policies are underwritten by Liberty Specialty Markets (Liberty Mutual) and cover physical risks including fire, water damage, burglary, and robbery/extortion. The digital application process requires xPub verification and signature confirmation to establish wallet ownership.
Differentiator
Problem solved
Functional benefit
Products and services
- Bitcoin Hardware Wallet Insurance Core annual insurance product protecting Bitcoin stored on hardware wallets (BitBox, Ledger, Trezor) against physical risks including fire, water damage, burglary, and robbery/extortion ($5 Wrench Attack). Coverage up to 100,000 EUR for standard tiers and up to 500,000 EUR for custom enterprise policies, underwritten by Liberty Specialty Markets.
- 10,000 EUR Coverage Tier Entry-level annual Bitcoin hardware wallet insurance tier covering up to 10,000 EUR of Bitcoin value, priced at 30.00 EUR per year (equivalent to 2.50 EUR per month), inclusive of 19% German insurance tax. Covers fire, water, burglary, and extortion.
- 50,000 EUR Coverage Tier Mid-tier annual Bitcoin hardware wallet insurance covering up to 50,000 EUR of Bitcoin value, priced at 150.00 EUR per year (equivalent to 12.50 EUR per month), inclusive of 19% German insurance tax. Covers fire, water, burglary, and extortion.
- 100,000 EUR Coverage Tier Top self-serve annual Bitcoin hardware wallet insurance tier covering up to 100,000 EUR of Bitcoin value, priced at 300.00 EUR per year (equivalent to 25.00 EUR per month), inclusive of 19% German insurance tax. Covers fire, water, burglary, and extortion.
- Custom / Enterprise Coverage Individualized Bitcoin hardware wallet insurance for coverage exceeding 100,000 EUR (up to 500,000 EUR), business inquiries, and special setups, conducted via online information meetings (Calendly).
Quantifiable outcome
- 4 million Bitcoin estimated lost globally due to inadequate storage security
- +2 more outcomes
Companies that use Bitsurance
Customer profileSegments1 record
Ideal customer profiles2 records
Bitsurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature1 record
Bitsurance partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and flagship.
- terahashminorterahash, a Bitcoin ecosystem player, is positioned to refer clients to Bitsurance through its network. This is an active referral and channel partnership aimed at driving customer acquisition in the DACH region and broader Europe as Bitsurance scales its product portfolio and coverage limits.
- Shift Crypto (BitBox)flagshipBitsurance is embedded directly in BitBox02 hardware wallet software by Shift Crypto. This integration represents the company's primary focus and main distribution channel. BitBox users can access Bitsurance insurance directly from the BitBox app, creating a seamless security experience that combines hardware wallet security with physical-risk insurance coverage. The partnership is positioned as combining 'sichere Bitcoin-Selbstverwahrung mit Versicherungsschutz gegen physische Gefahren' (secure Bitcoin self-custody with insurance protection against physical dangers).
Scale indicators5 records
Recent moves5 records
Expansion highlights6 records
Bitsurance competitors and assessment
Company assessmentDirect peers
- AnchorWatch: US-based Bitcoin-native insurance provider offering self-custody coverage against physical loss and theft. Explicitly cited alongside Bitsurance as a comparable in Bitcoin media; closest direct competitor on product, customer and threat model.
- Coincover: Crypto-asset protection specialist offering theft and access-loss coverage, often bundled with custody. Comparable in addressing physical-and-digital loss risk for crypto holders, with broader geographic footprint.
- Evertas: Specialist crypto-asset insurance MGA underwriting theft, loss and damage coverage for custodians, miners and institutional holders. Same niche as Bitsurance but oriented to institutions, making it a complementary rather than direct retail competitor.
- Casa: Bitcoin self-custody service combining multisig, key management and insurance-style protection for high-net-worth holders. Mentioned in Bitsurance's own brand context and addresses the same "self-custody + safety net" use case.
Others
- Shift Crypto (BitBox): Maker of the BitBox02 hardware wallet inside whose software Bitsurance is embedded. Distribution partner rather than competitor, but a critical chokepoint: Shift Crypto's strategy directly drives Bitsurance's largest acquisition funnel.
- Ledger: Hardware-wallet manufacturer whose devices Bitsurance supports alongside BitBox and Trezor. Not a competitor on insurance, but a strategic adjacency — Ledger's device installed base is the larger pool Bitsurance is not yet embedded in.
Regional players
- OneDegree: Hong Kong-based insurtech that has launched crypto-asset insurance products in Asia. Same crypto-insurance primitive as Bitsurance but serving a different geography, useful as a regional comp.
Broad incumbents
- Munich Re: Global reinsurer that has publicly explored and reinsured crypto-related risks. Important incumbent whose appetite and pricing decisions shape the entire specialist crypto-insurance stack, including Bitsurance's expansion economics.
- Lloyd's of London: Insurance market whose syndicates (including Liberty Specialty Markets, Bitsurance's actual capacity provider) write a growing share of global crypto-related coverage. Relevant as the upstream market on which Bitsurance ultimately depends.
- Coinbase: Major centralised crypto exchange that maintains an insurance programme over custodial assets. Different model (custodial, not self-custody), but the largest brand consumers associate with "crypto insurance" and a potential long-run threat if it offers self-custody cover.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Bitsurance social profiles
Digital presenceBitsurance compliance and trust
Trust signalCompliance2 records
Bitsurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bitsurance leadership team
Management profileNumber of profiles
Profiles3 records
Bitsurance funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bitsurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bitsurance
What does Bitsurance do?
Bitsurance is a licensed German insurance intermediary (Versicherungsvertreter nach § 34d Abs. 1 GewO) that sells annual insurance policies covering Bitcoin held in self-custody on hardware wallets (BitBox, Ledger, Trezor) against physical risks such as fire, water damage, burglary, and violent extortion ($5 wrench attack). Policies are underwritten by Liberty Specialty Markets (Liberty Mutual) and offered at three standard tiers (10,000/50,000/100,000 EUR coverage) with custom enterprise coverage up to 500,000 EUR available.
Is Bitsurance a public or private company?
Bitsurance is a private company. It is classified as venture growth investor backed and is currently operating.
When was Bitsurance founded?
Bitsurance was founded in 2023. It employs 1 to 10 people.
Where is Bitsurance based?
Bitsurance is headquartered in Hildesheim, Germany, in the Europe region.
How does Bitsurance make money?
One revenue line is on record: bitcoin Hardware Wallet Insurance (Annual Premium).
Who are Bitsurance's main competitors?
Direct peers on record are AnchorWatch, Coincover, Evertas and Casa. Others are Shift Crypto (BitBox) and Ledger. OneDegree is listed as a regional player. Broad incumbents are Munich Re, Lloyd's of London and Coinbase.
Does Bitsurance have an API?
No public API is recorded for Bitsurance.
What industry is Bitsurance in?
Bitsurance's product category is Crypto Asset Insurance. Its primary akta.pro industry code is FSADAMAI, Decentralized Insurance / Coverage Protocols. Its NAICS code is 524210 and its SIC code is 6411.