One factor that is commonly overlooked when choosing a crypto exchange platform is security. Bitcoin is a highly volatile currency. As such, the security of your account is paramount. (As it should be with any trading platform, to be honest)
In this article, we’ll take a look at some of the main forms of security that your crypto exchange platform absolutely must possess. For your own safety, check these out before you make an account with your chosen platform.
Learn more about crypto exchange here.
2-Step Verification, also known as 2-Factor Verification, is a process that requires both a login with a password as well as an OTP. (One Time Password) The site will require you to provide your account name and password first. Once you have successfully done that, it will send a text message to your registered contact number with an OTP. You can only login after inputting the OTP, which you must do within a certain time-frame or else it expires.
This way, anyone trying to enter your account would require both knowledge of your password and access to your cellphone before even getting started!
Biometric Face Recognition
Biometric face recognition is quite self-explanatory. It is very difficult for someone to steal your account information and login without your actual face!
Regularly Updated Multi-Layered Security
This basically means that the website should have multiple forms of up-to-date security measures in place at all times. These security measures should be constantly updated to keep new malware from being used against the website at all times.
If your chosen crypto exchange platform has all of these forms of security and/or some others, you can rest assured that your information will be safe. That being said, we strongly recommend that you do not share your login information with anyone, regardless of how much you may trust them!
Good luck and happy crypto trading!
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