📌Security Tips for Using Crypto Exchanges
How to Keep Your Crypto Safe on Exchanges
Taking these specific steps can significantly reduce the risk of losing your funds on a crypto exchange. Security isn’t just about passwords—it’s about being proactive and minimizing exposure to potential threats.
Use Hardware Wallets for Long-Term Storage
🔵If you're not actively trading, consider moving your funds from the exchange to a hardware wallet. For example, a Ledger or Trezor wallet keeps your crypto offline, reducing the risk of hacking.
Enable Whitelisting for Withdrawal Addresses
🔵 Set up withdrawal address whitelisting so that your funds can only be sent to pre-approved addresses.
Avoid Keeping Large Balances on Exchanges
🔵Only keep what you need for trading on the exchange. Move the rest to a secure wallet.
Use Separate Email Accounts
🔵 Create a unique email account specifically for your exchange activity, and enable two-factor authentication (2FA) on it. This adds a layer of protection, similar to having a dedicated phone line for sensitive calls.
Monitor Account Activity Regularly
🔵Regularly check your exchange account for any unauthorized logins or transactions.
Beware of Withdrawal Delays and Account Freezes
🔵Some exchanges might freeze accounts or delay withdrawals if suspicious activity is detected. Ensure your identity verification is complete to avoid delays.
Understand Exchange Insurance Policies
🔵Check if the exchange offers insurance on your funds in case of a hack, and understand the coverage limits.