I just got in to Cryptocurrency which i love very much, i have learn few things, basics really on on what is Bitcoin, Alternative coins, Blockchain, the different between decentralized and centralized system, love the idea of decentralized, i also just discovered DTube Wow! the world is really changing and i really love where we going with this.
Back to the topic why i am writing this post, in the summer of 2017 i learn to buy Bitcoin and altcoins from the exchange platform like Coinbase, Bittrex and Poloniex that part was not too bad, the only Not so good part is that you don't hold your own Private key and you have to take some measures to protect your account by not disclosing your password and setting app Google Authenticator which was totally new to me, well all it means is that, in your account lets say Poloniex they going to ask you to set up 2FA to secure your account, it is advisable you do this, they will provide a QR code on that code you have a Backup code you need to write it down and never loose it as if you do, you will have a chance of loosing your account unless you remember few details that the exchange may ask you about your account before they can disable the 2FS for you to log in, best tip i can give is, if you going to register now, or will be in the near future do this:
1.Save some emails they send you and some transactions you make, save them this will save you time and headache
- Know the Coins you hold or have and how much you have
- Save the IP address you log in with most of the time
- Just write your backup code on different notebooks, double check the letters and number (this is very important too)
- Do not delete your apps, or don't let kids play with your phone as they may accidentally delete your apps and your accounts will be locked and if you did not write the backup code for any exchange you might loose your funds unless you can provide valid proof its your account by providing answers of the question and details they ask about your account.
I hope this help.
Great information. Thanks for sharing ;)