Mark Tencaten | How to keep your crypto exchange account secure?
According to Mark Tencaten, you are in charge of ensuring the security of the money. Even when the exchange has taken all the necessary precautions, the trader must still take some steps to guarantee the security of the funds in his wallet. Although the provider can ensure that the locks are impenetrable, it is nevertheless recommended that you take precautions by keeping the location of your keys and your keys' location a secret. Mark Tencaten states that users must follow a series of rules to guarantee the security of their cryptocurrency accounts. Please adhere to the following recommendations:
1. Configure two-step
authentication - Set up two-factor authentication to make sure that no one
can enter your cryptocurrency account without knowing both your password and
the one-time password (OTP).
2. Verify the address
bar - Always verify the URL you're viewing by looking at the address bar of
your browser. You can fall prey to phishing and lose control of your account if
the website you view appears even slightly different. Save the URLs
for your exchanges. Keep your guard up!
3. Never share any
sensitive information - Even while the administrators and customer service
representatives of the cryptocurrency exchanges frequently speak with consumers
through phone or chat, none of them will ever request any personal information
from you. Your email, phone number, and Support Ticket ID will be all that any
support representative will want of you.
4. Use a secure password
- We advise using a secure password for your cryptocurrency account. Choosing
an easy-to-guess password makes you susceptible to "guess-hackers,"
even though crypto platforms have the greatest levels of digital currency
security in their platform.
5. Verify the
recipient's address - It is crucial that you double-check the recipient's
address and the amount since once it has been delivered, it cannot be withdrawn
and cannot be recovered.
6. Be on the lookout
for scammers – Many hackers may attempt to utilize fraudulent methods to
get sensitive information by assuming the identity of a reliable business. They
use phishing/social engineering to send convincing emails acting as a
cryptocurrency exchange in order to get login information and individual passcodes.
These particulars can be used by hackers to harm you by gaining access to your
cryptocurrency wallets. You may avoid this by exercising caution.
7. Phishing Scams - In
a phishing scam, an attacker attempts to pass as a reliable entity in order to deceive
you into disclosing personal information that will authorize them to access
your accounts and devices and steal your money. Therefore, it is crucial that
consumers exercise extreme caution and adopt excellent practices to prevent
falling for these frauds.
8. Scams through
email or phone – Crypto account administrators never divulge your
credentials to suspicious third parties. Never consent to requests to modify or
eliminate your security settings. Never ask someone to call you on the phone
and seek access to your gadgets. It is a fraud if you come across a phone
number posing as exchange help. Avoid dialing it. Send an assistance request
instead, along with details about the scammer, so that they can respond
9. Prevent using
Public wifi - Using public wifi should be avoided since it may direct your
web browser to a page that looks like your exchange or wallet. The information
you provide to them and any data sent over the network can then be collected by
hackers using that method. If you're utilizing a public wifi network to access
your account, use a VPN (Virtual Private Network).
10. Ensure the
Security of Your Device - It is crucial to maintain the security features
on your devices, such as a firewall and antivirus software, by regularly
updating them. Additionally, you must be careful to avoid downloading and
installing any software that you are unsure of.
11. Keep The Holdings
and Details Private - Because digital currencies offer anonymity, stealing
them is very alluring to hackers and criminals. It is important that you keep
the specifics of your holdings a secret at all events, get-togethers, and
recommends using two-factor authentication every time you access your
Typically loaded on a smartphone, an authenticator software
creates a 6–8 digit passcode after 30 seconds. The password can be used for
login, withdrawals, or as a master key. Password strengthens account security
by restricting attackers from transferring funds into or out of your account,
even in the case of trading. You may use two-factor authentication (2FA), an
additional safety measure, to ensure that only you can use your cryptocurrency
account. Setting up two-factor authentication (2FA) for deposits and
password/username ensures that only you have access to your account to make
deposits, withdrawals, or trades.