Before actually sending in funds on your Binance account or any exchange account in general, it’s necessary to first make sure that your account is secure, to prevent potential issues like your account getting hacked and such. Exchange accounts are a very hot target for hackers; especially Binance accounts, as Binance is currently one of the top cryptocurrency exchange we have today. Hackers can steal your funds on your exchange account without even leaving a trace on their identity.
We always suggest to spend a bit of time to make sure that your Binance account is safe, and to take extra safety precautions. Here are a few tips on how to secure your Binance exchange account.
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Bookmark the Binance website
When opening certain websites, instead of fully typing in the website’s URL, people just Google the website instead for convenience sake. Not knowing that they could potentially land into a phishing website if they clicked on a certain advertisement link. People advertising phishing links on Google and other search engine sites is nothing new.
In addition, as much as possible and unless absolutely necessary, avoid clicking on Binance links on forums, emails, and such. While most link may look normal, it might be leading to a phishing site.
If you don’t like setting up bookmarks on your web browser, you could also just simply accurately type in the correct URL. Just make completely sure that the URL you’re entering is actually the correct one. Also, an alternative is to use the launch feature on most password managers.
Set an Anti-Phishing Code
The Anti-Phishing Code is simple. You set your own personal code, so every time you login onto the Binance exchange, you’re going to receive the code you’ve entered. It’s just an extra precautionary step for you to know that you’re indeed logging in to the correct and legitimate Binance website.
For this example as shown on the screenshot, we’ve chosen “legitbinancesite” just as an example. We suggest that you choose a code that’s quite unique to you personally, and that’s something you could personally identify.
Use a secure and unique password
Make sure your password is unique compared to all your other passwords online in general. If you have multiple accounts with the exact same password, if one of those passwords gets leaked, then all of you accounts with the same password will be at a huge risk. Play it safe, use a unique and strong password for all your accounts online, not only on exchanges. Preferably, a password with 40 characters, both uppercase and lowercase characters, numbers, and symbols.
We suggest using password managers like KeePass2 for better password management, as memorizing multiple 40-character passwords for each of your web accounts are definitely not easy. At least with password managers, you’d only need to memorize one complex password. Do NOT store your passwords on text files, on word files, on your mobile phone’s notes app, etc. Only keep your passwords on password managers. Just make sure to also have a master password that’s not easy to crack.
Activate Google Authenticator
Potentially one of the most important steps into securing your Binance exchange account. With your Google 2-factor authenticator enabled, a hacker still wouldn’t be able to login to your account if the hacker has no access to your mobile phone; even though if the hacker knows your login credentials. For the hacker to get access to your 2-factor authentication codes, the hacker has to physically have access to your mobile phone. While bringing out your mobile phone every time you’re going to login on your computer may be a slight hassle, DO NOT skip this step. Spending few seconds of opening your phone’s authenticator app is a small price to pay for a huge increase in account security.
NOTE: Make sure to back up your 2FA codes somewhere offline, to retain access to your exchange accounts if ever you lost or broke your mobile phone. If you lost or broke your phone without any backups, you will be required to send various documents to Binance or exchanges in general, to prove that you are indeed the owner of the account. Sometimes they will even require you to answer questions like:
- When was your account registered?
- What coins/tokens did you have in your account, and how many?
Which are information that most people don’t normally take note of. Don’t take the risk. Activate 2FA, and backup the code.
Use a separate device for your trading(OPTIONAL)
This might be going too far for most people as purchasing another computer/laptop for trading purposes alone is probably not budget friendly.
If you’re willing to take the extra step on securing your account and if you have the funds for it, purchase a cheap computer or laptop, solely for your trading. Doing trading on your personal computer could be significantly riskier as some people frequently download and install stuff, putting their accounts and data in general at risk. Installing a light-weight Linux operating system on a cheap laptop and using that laptop solely for trading is a lot safer due to the less likeliness of your device to be infected with malware. Just make sure to not download and install unnecessary programs and applications.
For more information on securing your cryptocurrency exchange accounts, please proceed to this post: 7 Ways To Secure Your Crypto Exchange Accounts