Safety is extremely important for the account, especially when the crypto market appears more and more hacks with sophisticated tricks. In this article, we will describe some basic steps you can take to increase your safety, along with good habits to increase security in general, that you should keep in mind.
1. Use strong passwords and change them often
It would help if you used solid and hard-to-guess passwords for all your accounts on the Internet. This is especially true for accounts that store a lot of value – like your crypto trading account. The best passwords are generally longer than eight characters, containing uppercase, lowercase letters, numbers, and special characters.
2. Enable Two-Factor Authentication (2FA)
Enabling Two-Factor Authentication (2FA) is the first thing you should do after creating an account. Currently, most exchanges support two methods of two-factor authentication (2FA), including SMS and Google Authentication. Of these two methods, we recommend using Google Authenticator. When using this method, you should write down and save your reset key in case you need to transfer the 2FA code to a new mobile device.
While SMS authentication may be easier to use, it is considered less secure than Google Authenticator. SIM swapping is a real threat, and some premium accounts have fallen victim to it. In 2019, Twitter CEO Jack Dorsey was hacked using this method, and the hacker freely used his Twitter account to interact with his millions of followers.
3. Check the list of allowed devices
If you see any appliances that you don’t recognize or use, remove them immediately. Once deleted, that device won’t be able to reaccess your account unless you allow that device to continue to be accessed via an email confirmation. This is why the security of your email account is also paramount.
You can also check other account activities, for example, from what IP address and when your account is accessed. If you see anything suspicious, deactivate immediately. This will put on hold for non-withdrawal and remove all API keys and devices that can access your account.
4. Manage your withdrawal addresses
It allows you to limit the addresses your wallet can withdraw from. If you enable this feature, for each new address added, an email confirmation request will be sent before the address is added to the safe list.
Again, these are the reasons why it’s so important to keep your email account secure! Email is the foundation behind all your online security.
Haven’t you decided which Crypto Wallet to withdraw assets to? You can try Trust Wallet. This is an excellent choice if you’re looking for a secure, easy-to-use wallet app on your mobile phone. Alternatively, you can invest in a hardware wallet to keep your private keys securely offline.
5. Use a compatible security key (U2F)
For example, Binance supports using compatible (U2F) security keys, such as the Yubico YubiKey. These devices will only give you access to your account if they are plugged into your computer or connected wirelessly.
You can think of this device as similar to Google Authenticator, but instead of a piece of software, it is a piece of hardware. This means that every time you access, you always need to access this hardware device physically.
Summary
Keeping your account safe is very important. We’ve gone through the basic steps so you can proactively protect and prevent hackers from accessing where your bitcoins or altcoins are stored.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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