About the security of our bitcoin exchange
How safe is the bitcoin exchange I’m using? I’m sure many of you have asked this question. We’re here to put your mind at rest and explain some of our features that are put in place to make sure your assets are at the lowest risk possible.
We strongly advise you to set up two-factor authentication on our bitcoin exchange. This way you can stop any malicious attempts of access to your account. Setting it up is pretty simple.
Go to our settings page to set it up now.
What is two-step verification?
Two-step verification is a type of multi-factor authentication. This means you need 2 phases of passwords or something you own to access a service or data. The simplest example is a bank card and a PIN – a bank card being something you own and a PIN is something you use to verify yourself. Now the more modern option is mobile verification. As you have already set up an account on our bitcoin exchange with a password that only you know it is a good idea to add another dimension to the security. This is where mobile two- step verification comes in.
This approach uses mobile devices such as mobile phones and smartphones to serve as the something you possess. If users want to authenticate themselves, they can use their personal access license (i.e. something that only the individual user knows) plus a one-time-valid, dynamic passcode consisting of digits. The code can be sent to their mobile device by SMS or via a special app. For added security you could also specify how many incorrect entries are permitted before the system blocks access.
Safety features on our bitcoin exchange
As I already explained the two-factor verification on our bitcoin exchange that can be used both on logging in and withdrawals here’s a bit more on what makes our bitcoin exchange safe to use:
- We have a Recent Activity chart at the bottom of the settings/security page, to notify you if someone is attempting to access or has accessed your account maliciously
- Verification is built into the withdrawal process
- We also use cold wallets and store coins safely offline – the cold wallets are secured with multi-key encryption. They are stored in a safe location.
- DDos protection
- SSL and Data encryption
Our developers have worked on a very impressive set of protection matters as the mentioned state of art cryptography combined with FIPS validation and offers of two-factor authentication. And we are always finding ways to improve and update the safety features on our bitcoin exchange.
What can you do to keep your coins safe?
Firstly – never give out your password for anyone. It is also not recommended to write the passwords down but if you definitely must – make sure they are encrypted and kept in a safe place. Regarding your bitcoin wallet we also recommend you use cold storage – printing out your bitcoin wallet and keeping it in a safe place. Read more about cold storage here.
I hope this has put your mind at rest. We are working around the clock to make sure our bitcoin exchange is up to date and as safe for our traders as possible. If you notice some fraudulent activity or something suspicious on your account do let our support know as soon as possible.
Start trading on our bitcoin exchange with a peace of mind!