WHAT SECURITY DOES YOUR CRYPTO EXCHANGER OFFER.
Security has been a major drive on the Internet and most times it feels like we don't get enough impenetrable security that we need to protect ourselves from vulnerable attacks. For me, i would say that attacks could be attracted, like almost 55% of attacks is caused by not being CYBER conscious. The internet is an open space for everyone around the globe but not being security conscious can leave you with a doubt that the internet is for a selected few. Looking closely at the emergence of Cryptocurrency and the unprecedented adoption globally, you can agree with me that there's need for becoming security adaptive in every sense.
My amazement really goes to the largest Cryptocurrency Exchanger Binance which focus is bound to "SECURITY", and is undoubtedly the fact. Binance offers it's users Layers of security which gives users an hedge to operate within the Binance interface securely. A great part of it's security is the YUBIKEY which is recommended by Binance.
What Is It? The YubiKey is a hardware devices that makes two-factor authentication as simple as possible. Instead of a code being texted to you, or generated by an app on your phone, you simply insert it into your COMPUTER USB PORT When asked for authentication in the cause of login into your account, press the "Y" button on your YubiKey to gain access to your account. The YubiKey sends a unique code that the service can use to confirm your identity. This is more secure, because the codes are much longer, and more convenient, because you don't have to type out the codes yourself.
There's also a Yubikey for your smartphone just the size of a pen-drive which is used same way when prompted for authentication. A Yubikey is about $20-$45 on Amazon.
Though you can still use other immediate and available security to secure your binance account which is pro-actively effective because it still contains many layers of security like Google Authentication which requires you to bind your Binance account with the Google Authenticator app on your smartphone, which each time you are prompted for Google Authentication login you go ahead open your Google Authenticator app, copy the code and paste to have access into your account. When setting Google authentication on your binance account be sure to write down the Alphanumeric QR Codes and store it somewhere safe, alternatively, screenshot the QR barcode image and store it somewhere safe because it will be needed should incase you lose your phone. Same goes with the "Backup key phrases".
SMS authentication is another added layer of security on Binance which sends you a 6 digit code to your phone number for you to input and gain access to your account, Another 6 digit code is as well sent to your email for you to input and gain access to your account. Sms and email authentication comes as two in one layer of security on Binance.
Aside those 2-Factor Authentication, Binance made it possible for you to stay out of harm's way, which is to say you can't be a bait to "PHISHING" scam site/illegitimate mails that are not sent from Binance, all you have to do is setup the Anti-Phishing on your binance account by inputting a number or coded word that will be attached on every mail Binance sends you, this way if any fake site sends you a mail you will detect ASAP because the coded word you earlier setup will not be included, this way you don't get to visit fake site's that will steal your login information.
Every Cryptocurrency Exchanger should focus on users safety first because this holds the possible long existence of every Exchanger. You can read more about common Cryptocurrency scams on Binance Academy https://academy.binance.com/en/articles/common-scams-on-mobile-devices
If you haven't signed up on Binance just yet you can use the link to create a free Binance Account https://www.binancezh.pro/en/register?ref=43844349
You can watch how to setup up Advance security on Binance and also how to verify your identity.