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5 Tips to Enhance Security for Your WhiteBIT Account

Marketing / Blog / DeFi

5 Tips to Enhance Security for Your WhiteBIT Account

MickyNews

By MickyNews

4 months ago
4 mins read
 5 Tips to Enhance Security for Your WhiteBIT Account

The question of digital currencies’ security on a cryptocurrency exchange is essential for everyone: those who have had a cryptocurrency for a long time and those who are just thinking of mastering this area of finance. Thus, a high user security level is one of the key conditions when choosing a crypto exchange.

This criterion is clearly met by the biggest European cryptocurrency exchange, WhiteBIT. The platform has developed several effective measures to protect user accounts. Let’s take a look at them.

Good password

First things first, you need to create a strong password. It is not difficult to achieve a positive result in this matter if you consider these rules:

– use combinations of at least 8 characters, including letters (uppercase and lowercase), numbers, special characters #*%, etc.;

– do not use information that scammers can obtain: date of birth, phone number, names of friends, address, etc.;

– do not use the same password on different sites, and change passwords regularly;

– do not store your password on the computer or device you use to access the internet.

Two-factor authentication (2FA)

Two-factor authentication (2FA) is a code that must be entered each time you log in, along with a password. The activated 2FA makes it more difficult for third parties to access your account. Each 2FA code can be used once.

The most common type of 2FA is authentication through special software. A user needs to install an app that generates short-term codes. Users must enter a code from the app when they log into the account.

To protect users from account hacking and data loss, the top exchange cryptocurrency WhiteBIT implemented the 2FA system. To activate the function on WhiteBIT, users need to:

– install Google Authenticator to their mobile device;

– log into their account and go to the Security tab;

– go to the Two-factor authentication section;

– scan the QR code using the app or manually enter the code;

– add WhiteBIT to the app and enter the code into the corresponding field.

Anti-phishing

Phishing is a type of internet fraud during which scammers try to obtain confidential information. The most common goal is a login/password combination for a financial account.

Phishing is designed for an instant reaction from users because of their interests or emotions. Having received the necessary information to enter the account, scammers instantly withdraw money to other accounts and disappear.

To protect users against phishing, WhiteBIT has its method of e-mail authentication called anti-phishing. When the tool is enabled, users set their own codes that prove that the letter comes from WhiteBIT.

How to enable anti-phishing?

– log in to your WhiteBIT account;

– go to the Security tab;

– set an anti-phishing password;

– save settings.

After enabling the anti-phishing, all the technical letters (about withdrawals, deposits, password change, etc.) will contain a code set by the user.

KYC and AML

Due to the anonymity of transactions, the cryptocurrency market can be used for money laundering, which harms honest users and the reputation of cryptocurrency in general. To fight it, WhiteBIT has implemented KYC and AML policies.

KYC (Know Your Customer) is requesting users’ data for verification. Here’s how to pass identity verification on WhiteBIT:

– fill out the fields in the Verification section;

– upload a clear photo of your document (password, driver’s license, or ID card);

– upload a selfie with a sheet with “WhiteBIT.com” and the application date written on it, as well as your document.

After completing all the steps, the client receives the verification result in a letter. The verification process takes from 1 to 24 hours.

AML (Anti-Money Laundering) is a set of measures to combat the laundering of funds obtained by illegal means (drug trafficking, financing of terrorism, etc.). AML links the KYC database to other information sources and detects suspicious activity.

WhiteBIT lets users check the address they interact with (buy and sell cryptocurrencies to) for involvement in money laundering. To check it, users must select AML in the Services section, specify the asset and click “Check.” The risk scale will show how much a user should trust the address.

Other security measures

The WhiteBIT team has also implemented several other tools designed to increase the level of security additionally.

Users have access to auto logout, which protects them from unauthorized entries to the account if they did not log out on their own. Users set the time, after which they are automatically logged out of the account in the security section.

The mobile application also lets users set a time limit for the duration of the session. In addition, users can set a PIN code to enter the application in case third parties gain access to the mobile device.

Moreover, the functionality of WhiteBIT allows users to manage the addresses to which digital assets are withdrawn. This tool is called a “White List.” The White List is activated in the Security tab of the exchange.

As the number of people wishing to join the world of cryptocurrencies grows, so does the number of platforms offering to buy cryptocurrency. Not all of them have an adequate level of security measures taken, leading to the loss of assets by users in unforeseen situations.

As you can see, WhiteBIT has made the security of user accounts its priority and continues to develop in this direction.

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