Good afternoon, folks. Happy Saturday.
I recently discovered a cryptocurrency exchange called Binance. Since the day I found it, I fell in love. It has a beautiful app that's available on both iOS and Android, which makes trading super convenient. I don't know if you've ever tried to use Bittrex or GDAX on your phone, but it's pretty hard. Most exchanges are not optimized for mobile use, but come on... It's 2018 and people use their phones for everything.
Due to overwhelming demand for accounts on Binance, they have slowed down registration and created a wait list. This has caused a lot of people to resort to buying other people's accounts. What else comes from this? The interest for hackers to steal people's accounts and resell them. Binance has issued a statement regarding account security in light of this and I thought I would touch on it as well.
What is your security worth?
While having a strong password is important, it is also only one layer of protection. Binance offers a few different ways to add more layers to the security of your account. As you can see in the image below there are options for 2 factor authentication. You can choose to receive a text message code every log in, or use Google authenticator to generate a code for log in.
With text message authentication, there's no way for anyone to access your account without being able to access your texts. I chose to use Google authenticator because it's a little more convenient and I use it for everything. Once set up, you open the Google authenticator app and copy the code. It generates a new code for each website every 10 seconds, so in my opinion it is more secure. If you have never used it before, it is very simple. Download the app. Click add website, and scan the QR code that Binance provides.
Another layer of protection which I highly recommend is Touch ID. If your phone has a Fingerprint scanner, this is a must. It is 2018,and most phones are starting to come with Fingerprint scanners. Every time you open the app, you must scan your finger. For those without the luxury of a Fingerprint scanner, they offer locking the app with a passcode, or a pattern as well. All equally secure as long as no one sees your code or pattern.
While you may think to yourself "why would anyone want to attack my account?" This is exactly why. They may want to hack your account for the purpose of not only stealing your funds, but to resell the account. So, the moral here is... Your privacy and security are priceless, so take a few minutes out to secure your account. You will grateful that you did.
Thanks for reading!
Until next time. Please leave a comment if you have questions, or anything to add. Be sure to hit the upvote button if you appreciated this content. Resteem so others can find this article as well.
Have a great day.
- L337m45732
Two-step is definitely a necessity this day in age. An extra layer of security not only gives peace of mind, but an extra hurdle the would-be thief has to jump over.