One of the major benefits of cryptocurrencies is that they allow people to trade without any involvement of an intermediary (like a bank). Anyone who wants to buy and sell BTC, ETH, or any other cryptocurrency has to create a cryptographic key (also known as a secure code) for secure transactions. In case the hackers get access to that key, they can immediately gain control of the crypto wallet and the funds stored in it. So, it is imperative to choose a secure and the best BTC & ETH trading platform to rest assured that your crypto assets are safe.
Today, the greatest threat that leads to people losing their BTC & ETH is human error, not the technology itself. Shiftal exchange works hard to fight fraud within the platform. To keep the digital currency secure, here are some steps that Shiftal advises its users to follow. Take a look.
Create a Strong Password
- The best P2P trading platform always advises you to use a strong and long password (with at least 16 characters) that has not been used anywhere in any social networking platform.
- Use a trusted password manager to create or remember your password for future use, such as Dashlane, RoboForm, KeePass, etc.
Use 2-Factor Authentication (2FA)
- This is the best way to keep your crypto secure. By using a 2FA, you will get a security code on your device every time you log in on Shiftal. It means that no one can access your account even if they know or steal your password.
- We advise using Google Authenticator instead of an SMS-based 2-factor authenticator as mobile carriers have known security weakness.
Double Check the Website URL
- It is easy for hackers or scammers to create a fake crypto trading platform and provide catchy ways to attract traders, for example – they create a platform where you can buy Ethereum with cash, credit, or any other easy medium to buy your coveted crypto. In reality, these exchanges are designed to steal your account information. Therefore, it is crucial to double-check the URL before you start online trading.
- Type your exchange platform’s URL on your own instead of using any bookmark or by clicking any links from the received email.
Understand the Tricks
- Hackers or scammers may try to contact you as tech support and pressurize you to give your account credentials. Don’t fall for the trick. Legitimate trading exchanges never ask for any passwords, 2FAs, or any type of data related to your account.
- If someone calls you and you are not sure whether it is legitimate, you can directly reach to your exchange’s support team. Like on Shiftal, you can email us at any time on firstname.lastname@example.org, and our support team will get back to you within a few minutes.
Shiftal exchange offers an extremely effective protective shield i.e. “Login Guard” that prevents your account from brute force login attacks. Our platform remembers your IP address or email ID, so if someone else tries to log in your account via different IP or email address, then first he/she needs to verify the confirmation email to login.
You can use Shiftal’s Login History through which you can track the user login information for the last few logins. The login history shows the following information:
- Login date and time
- Source IP
- Login type
To sum up, these are some of the major key factors to understand before starting online trading in the crypto sphere. Take time to understand how the best BTC & ETH trading platform works and the security measures that they provide you to keep your cryptocurrency safe and secure. Next time, whenever you are going to start crypto trading, make sure to implement the instructions aforementioned. Happy Trading!