Crypto holders are generally advised not to keep funds in exchanges. However, it is necessary for active traders to utilize it for everyday trading activities. Therefore, transferring funds into your own crypto wallets is not an option. It is not possible to keep the exchange safe from hackers. However, what crypto users can do best, is to keep their funds secure. This is why, account security is a crucial element in any crypto exchange. While Paybito provides the utmost security, here’s how you as a user can keep your funds safe.
Over the years, millions of dollars of user funds have been scammed from exchanges. Usually, new users fall prey to phishing scams and websites. They end up losing a chunk of their fund. While the majority of them were due to signing up for a phishing website. Here are some tips to avoid traps, and help you with utmost account security.
Hackers can easily steal funds from customer accounts in exchanges. The crypto exchanges are hot spots for cybercriminals because no one can trace the scammer’s identity. Today, almost any account creation password requires alphabets, numerals, and symbols to keep the accounts safe.
But, do you know how such strong passwords powers account security? Hackers use software like ‘Brute Force’ to hack into accounts. Here, they test every single character combination and finally end up breaching your account security. Therefore, always use long passwords of more than 12 characters in a combination of alphanumericals, and symbols.
If you fear losing your password, you can use a password manager. However, make sure the password manager is the right one or well protected. Experts recommend changing passwords thrice a year to ensure optimum account security.
Using similar passwords is common among users. Experts suggest that when using similar passwords on all accounts or multiple accounts, might jeopardize all the user’s accounts across the internet. Therefore, this is not only applicable to crypto exchange accounts.
Password managers work well for users to keep their passwords safe.
SMS Verification for crypto exchange logins is not a safe idea. Several website complaints have been registered after users try SMS authentication.
Hackers and cybercriminals can opt for several other services by accessing current SMS messages, or, mobile numbers.
One of the crucial components of account security is you use a malware or virus-free device. When using a gadget that runs on Windows Operating System, running antivirus software is best especially if you use crypto exchanges.
If you’re paranoid about your passwords or files, you can always use an alternate operating system. Since the hackers majorly target the Windows operating system, therefore, using OSX or Linux might be a safer alternative.
Another way to keep your device secure is by keeping your system up-to-date.
The use of phishing sites is one of the popular ways for hackers to gain access to people’s crypto exchange accounts.
Phishing websites are usually sites that masquerade as social media channels, exchange sites, wallets, etc. These websites often look similar to the ones they pretend to be.
The best way to avoid such scams, and keep your account security intact is to manually type and check website URLs.
PayBito is a US-based crypto exchange. It is a 100% reliable and trusted exchange with advanced security and two-factor authentication protocols.