One of the first questions that comes to mind about the cryptocurrency that almost everyone is aware of its existence and that most people invest in is how it is secured. No matter how good the security measures are, there are a few more steps that can enable crypto investors to make their transactions more secure.
Let’s examine these steps together.
Enabling Two-Factor Authentication (2FA)
Two-factor authentication is a second security method you can use to increase security. When you want to log into your account, you have to go through two different layers of security before being granted access to the system. It is the most deterrent method against third parties who want to access your account.
If we talk on the basis of Binance exchange, you use your e-mail address and password as the first layer of security. But what is used as the second layer of security?
Security Key – Yubikey
It is an extra layer of security used to log into your account, withdraw any assets you own, and reset your password.
Google Verification Code
It is an extra layer of security that you can use thanks to the Google Authenticator application. It offers you a one-time password password.
SMS Verification Code
When you want to log into your account, it will expire after a while, it is an extra layer of security that offers you a one-time SMS password.
allet Information Control
As we mentioned in our article on the advantages and disadvantages of cryptocurrency, entering the wrong wallet address when transferring money can cause big problems for you.
The smallest mistake you make can direct your transaction to an account other than the account you want to forward, and the transaction cannot be undone. This is one of the most important things to watch out for.
It is also very important to use a secure network for cryptocurrency transactions. Because, in your transactions, you may encounter a software that changes your wallet number or an e-mail that may mislead you. You need to be careful with malicious software.
When it comes to security, one of the first things that comes to mind is a strong password. Since you do not use the same password in many applications, you need to make sure that you choose a password that is difficult and difficult for third parties to guess. Also, changing your password regularly will be beneficial for your security.
You should not share your private key in any way. Remember that even crypto companies do not ask you for this information when performing any transaction or trying to solve your problems. In this case, you should consider this even when changing your password and never share your private key.