Binance places a premium on security. Binance takes account of the security of your funds extremely seriously, but there are further measures you can take to make your funds even more protected.
Here we’ll go over some basic account security measures you can take, as well as some best practices in general. Protecting your account is in our best interest as well, as it is yours. We can all benefit from a more secure environment since the blockchain business is growing fast. Just what can you do to make your Binance account more secure?
1. Use a strong password and change it regularly
This may seem like stating the obvious, but protecting your Binance account requires it. Each of your online accounts deserves a strong, unique password. Particularly valuable things, such as your cryptocurrency exchange account, fall into this category. The ideal length for these passwords is eight characters and they should include a mix of uppercase and lowercase letters, numbers, and symbols.
Password managers are a great tool for creating, organizing, and storing secure passwords. With this method, you may safely save and organize all of your passwords in one easy location. The majority of password managers will further fortify its security by utilizing advanced encryption methods. Make sure you generate a robust master password and only use reputable password management software. While it’s a good start, having a robust password won’t keep hackers out indefinitely. Since hackers may find a method to get their hands on your passwords eventually, it’s smart to update them frequently. This is valid for both your Binance account and the email address linked to it.
While we’re on the subject of email, here’s something more to think about: it’s smart to utilize separate accounts for each email. In this approach, you can lessen the blow of data breaches that could otherwise befall you. In particular, if you’re logging into an old email account, it’s likely that it was compromised at some point. The likelihood that a single hack will impact numerous of your accounts decreases, however, if you use separate email addresses for each service. To see whether any of your accounts have ever been compromised, you can use the website Have I Been Pwned. Attention all Binance users: Withdrawal capabilities will be temporarily disabled for the next 24 hours after changing your password. Doing so will stop would-be thieves from gaining access to your account and subsequently preventing you from withdrawing any money.
2. Enable Two-Factor Authentication (2FA)
One of the initial steps when making an account with Binance is to enable Two-Factor Authentication (2FA). Send and receive SMS and Google Authentication are two two-factor authentication options that Binance gives its customers. We advise using Google Authenticator instead of the other one. Remember to jot down your reset key in case you ever need to move your two-factor authentication codes to a different phone.
Even while it’s more convenient to utilize SMS authentication, it’s not as secure as Google Authenticator. Some prominent accounts have fallen prey to the danger of SIM shifting. This technique was used to hack Twitter CEO Jack Dorsey’s account in 2019, giving the hackers complete control over his account and its millions of followers.
There are many methods to use two-factor authentication to protect your account. Universal 2nd Factor (U2F) authentication is an additional mechanism that will be covered shortly. Your account is safeguarded by a secure hardware device. Binance also backs that, which is great news!
3. Check the list of devices authorized to access your account
You may view which devices have access to your funds by going to the Device Management section of your Binance account. This option may be found in the Binance app under the “Account” menu.
Dispose of any devices that you are no longer familiar with or utilise. After you deactivate a device from your account, it will no longer be able to access your services unless you choose to re-authorize it through email. As we’ve already established, this is why keeping your email account secure is of the utmost importance.
If you check your activity records, you may see when somebody visited your account and from what IP address. Immediately disable your account if you detect anything suspicious. As a result of this move, all account access will be disabled for all devices, trading and withdrawals will be stopped, and API keys will be erased.
4. Manage your withdrawal addresses
Address Management adds an extra degree of security to your Binance account. With this function, you can limit which wallet addresses can withdraw money. Any new addresses that you want to add to the whitelist will require an email confirmation if you enable this option.
This incident further proves how critical it is to keep your email account secure. The foundation of your online safety rests on it.
Trouble deciding which cryptocurrency wallet to utilize when making a withdrawal? If you are looking for a secure software wallet for your mobile device, Trust Wallet is a fantastic choice to consider. You might think about getting a hardware wallet if you want your private keys to be even more secure.
5. Learn about phishing
An individual or organization committing phishing attempts to trick you into divulging sensitive information by pretending to be someone else, typically a legitimate corporation. You ought to exercise caution because it is among the most prevalent attacks in circulation.
If you want to avoid manually entering the Binance address every time you want to use it, the best course of action is to use a bookmark. Please bookmark https://www.binance.com immediately if you haven’t done so already. By taking this one easy action, you can protect yourself from many of the fraudulent Binance websites that are out there.
You can add a one-of-a-kind code to all of your Binance notification emails using the Anti-Phishing Code function. Turning on the Anti-Phishing code will let you verify the legitimacy of Binance’s notification emails. Check visit our Anti-Phishing Code Guide if you’re interested in learning more about its usage. Do you want to know more about phishing and how to avoid it? See also: What Is Phishing?.
6. Follow API security guidelines
Advanced traders may get the most out of the Binance trading engine by using the Binance API. You can make your own trading strategies with the Binance API.
Nevertheless, there are hazards associated with using API keys, as they enable external applications to access your data. You may want to think about implementing IP address-based access controls while working with the Binance API. So, only the IP addresses that are on the whitelist will be enabled. Additionally, think about periodically changing your API keys and stay away from sharing them with outside parties.
7. Use Universal 2nd Factor (U2F) Authentication
Binance is compatible with authenticators that are U2F compliant, like the Yubico YubiKey. When you connect these devices to your computer or pair them wirelessly, you’ll be able to access your account.
You might compare this device to your Google Authenticator, only it’s hardware and not software. Because of this, gaining access to your account also necessitates physically possessing this gear.
Closing Thoughts
An essential factor to think about is the security of your Binance account. To prevent hackers from gaining access to your valuable bitcoins and altcoins, we covered some basic account security measures you may take.
Visit your Security dashboard to view your current security level. Navigate to the “Security” sub-tab under the “Account” tab in the Binance app.
