Binance security features you should know about ?
Binance, one of the largest cryptocurrency exchanges, has several security features designed to protect user accounts and assets. Here are some key security measures you should know about:
1. Two-Factor Authentication (2FA)
Google Authenticator: Adds an extra layer of security by requiring a time-based one-time password (TOTP) along with your regular login password.
SMS Authentication: Alternative to Google Authenticator, though less secure due to SIM-swapping risks.
2. Email Verification
Any withdrawals, password resets, or security changes trigger an email verification to confirm the user's identity.
3. Withdrawal Whitelisting
You can restrict withdrawals to specific wallet addresses. Only addresses on the whitelist can receive your funds, reducing the risk of theft.
4. Anti-Phishing Code
Set up a unique anti-phishing code in your account settings to ensure that emails from Binance are genuine. If an email lacks your code, it may be a phishing attempt.
5. Device Management
Allows you to view and manage the devices currently authorized to access your Binance account. You can revoke access for any suspicious or unknown devices.
6. Advanced Access Control
API Key Management: You can create and manage API keys for trading automation while setting permissions and IP restrictions for added safety.
Login Restriction by IP: Restrict logins from specific IP addresses to prevent unauthorized access.
7. Security Notifications and Alerts
Binance notifies you of suspicious activity, such as logins from new locations, password changes, or withdrawal requests.
8. Biometric Authentication
For mobile app users, Binance supports fingerprint and face recognition to secure account access.
9. Address Verification for Withdrawals
Binance monitors blockchain addresses and uses automated risk management tools to detect and block withdrawals to suspicious addresses.
10. Cold Wallet Storage
The majority of user funds are stored in offline, cold wallets, significantly reducing the risk of hacking.
