As the adoption of virtual currencies continues to surge, more and more people are looking to get in on the action. But, given recent events and market volatility, many are wondering if it’s safe to keep their crypto on Binance. After all, digital exchanges have been a target for hackers again and again. So, is it safe to keep your crypto on Binance? If so, how do you know if Binance is a trustworthy site? In this article, we’ll answer these questions and more. Check it out to learn everything you need to know about keeping crypto on Binance in a secure way.
Is It Safe To Keep Crypto On Binance?
To be safe, we all need to store our Bitcoins in a place that is both secure and reliable. Binance offers 2FA for withdrawals for additional security. You can set the withdrawal limit on your Binance account to 1 BTC or even 0.1 BTC and that will restrict the withdrawal amount per transaction. If you really want to be secure I would recommend using a hardware wallet such as Trezor or Ledger.
How To Find If A Website Is Safe To Keep Crypto On?
Check The Site For A Valid SSL Certificate
An SSL certificate is a small file that’s used to encrypt the connection between your computer and the website you’re visiting. Without an SSL certificate, anyone can spy on your internet traffic and steal your personal information. For this reason, all online retailers have an SSL certificate installed on their sites.
Check For An Extended Validation Certificate (EV SSL)
In addition to getting an SSL certificate for its website, Binance also has an Extended Validation Certificate (EV SSL). This type of certificate shows that Binance has undergone more vetting than other sites because it requires more validation from third-party companies like VeriSign and Symantec. As such, EV certificates are considered more trustworthy than standard certificates because they show that a company has been vetted by third parties who don’t have any stake in whether or not it succeeds or fails.
Check If The Site Is Registered In A Secure Country
While the EV certificate is a good first step, it’s not enough to ensure that your cryptocurrency is safe on Binance. You also need to check where the company behind the website is based. While it’s not always true, sites that are based in countries that don’t have strong data security laws are more likely to be hacked and your personal information stolen. For this reason, you should only use sites that are registered in countries with strict data security laws like Switzerland or Japan.
Check For A Secure Server Certificate
If you’re using an Android phone or an iPhone, then you can check for a Secure Server Certificate by going into your browser settings and turning on “Show Certificate Information” under Advanced Settings. Then, look for “Secure Server” under Certificate Information and make sure it says “Yes” next to it. If there’s no “Yes” next to Secure Server or if there’s no information available about the certificate at all, then don’t use that website because there might be something wrong with its SSL certificate.
Look At The URL Of An Email Sent From Binance
If you receive an email from Binance asking you to confirm your login details or any other sensitive information via email, then look at the URL of the email itself before clicking on any links inside of it! If you see anything other than “HTTP://” at the beginning of the URL, then don’t click on any links inside the email. Instead, go to Binance’s website using your browser and log in there.
Only Use Two-Factor Authentication That’s Compatible With Google Authenticator
Binance offers two-factor authentication to help protect your account from being hacked. However, you should only use “Google Authenticator” as your second authentication method. This is because “Google Authenticator” generates a code that changes every 30 seconds instead of a static password that can be hacked by anyone who knows it. This means that even if someone steals your password, they won’t be able to get into your account unless they also have access to your phone where Google Authenticator is installed!
Don’t Link Binance To Any Other Sites Or Apps
One way cybercriminals steal cryptocurrency is by creating fake sites or apps and getting people to give them their login credentials for an exchange like Binance. To prevent this from happening, you should never link Binance to any other websites or apps you’re using online (like Facebook or Gmail), especially if those sites are ones you use regularly! If you do need to link another site or app with Binance, always check first with the official website of whatever service you’re linking before doing so!
How To Secure Your Binance Account?
Enable 2-Factor Authentication (2FA)
If you’re going to keep your cryptocurrency on Binance, you need to make sure that your account is secure. One of the best ways to do this is by setting up 2-factor authentication (2FA). With 2FA enabled, a hacker won’t be able to access your account even if they have your password. This is because they also need a special security code that will be sent to you via SMS or email. 2FA is available for all Binance accounts and can be set up in just a few minutes. To enable it, just follow these steps.
Enable Google Authenticator
Once you’ve set up 2FA on Binance, make sure to enable Google Authenticator as well. Google Authenticator generates a time-based token that changes every 30 seconds or so. This means that even if someone has stolen your Binance password and 2FA code, they won’t be able to get into your account without the constantly changing Google Authenticator code as well. To enable Google Authenticator on Binance.
Create A Unique Password For Your Account
The first thing most hackers will try when trying to break into an online account is a brute force attack. This means that they will use software designed specifically for cracking passwords by trying thousands of different combinations until one works. To prevent this from happening with your Binance account, make sure that you use a unique password for your account. Your Binance password should be at least 12 characters long, and should not contain any words in any language. You should also avoid using a password that is the same as your bank account, social media account, or email password.
Don’t Use Public WiFi
Another way hackers will try to break into an online account is by using public WiFi networks to steal your login information. This means that if you’re trying to trade on Binance while you’re at a coffee shop or airport, you could be putting yourself at risk of having your password stolen by hackers on public WiFi networks. Instead of trading on Binance while you’re out and about, use either a private network or mobile data to connect to Binance.
Enable Google Authenticator In Two Places
When you enable Google Authenticator on Binance, make sure that it is enabled in two places: the Google Authenticator app and the Google Authenticator section of your Binance account settings. If you only enable it in one place, there is a chance that it could become disabled for some reason (like if you lose access to your phone). By enabling it in two places, there will always be an active version of Google Authenticator available for logging into your account.
Don’t Use The Same Password For Multiple Accounts
In addition to making sure that your Binance password isn’t used for any other accounts, you should also avoid using the same password for multiple different accounts. This is because if someone is able to get your password from one account, they will try the same password on all of your other accounts. If you want to use the same password for multiple different accounts, you should use a password manager to generate strong passwords for all of them.
Should You Trust Binance?
- Binance is a centralized exchange that holds all customer funds in their Binance wallets, which means it’s not as decentralized as some other exchanges.
- However, Binance is also not as insecure as some other exchanges.
- Binance has two-factor authentication and email encryption features that help keep users safe and secure.
- Binance also has a very active and responsive security team that works hard to monitor the site 24/7/365 to ensure it’s safe for customers to conduct transactions on the platform.
- Additionally, Binance offers secure cold-storage options for its customers, which means they can store their crypto offline in an extra layer of security. There are no reports of any major hacks or breaches on the site, making it one of the most secure digital exchanges out there today (along with Coinbase).
Keeping your crypto on Binance is safe as long as you follow the guidelines above. You should also regularly check Binance’s website for any security updates. You can also follow Binance on social media and keep up to date with its founder’s posts on Reddit. This will help you get more insight into how the company is doing and what it’s working on. Binance is one of the best places to keep your crypto. It’s secure, reliable, and offers a variety of new user promotions.