How to Secure your Cryptocurrency Exchange Trading Account on Nominex?
Uncrackable passwords, best 2FA apps, and top-market cold wallets — how to keep your crypto safe?
If the whole security craze seems a fiddlestick to you, check out the story about a trader, who had waved the security concerns to lose his crypto assets in 15 minutes. Hardly encouraging, right? If you do not want to make the same mistake, you need to figure out which account protection method to choose. In this article, we have outlined the main security tips to help you find the method that suits you best.
Setting a Hard-to-Crack Password
The first thing you can do is to make up a strong password, which will even give you some hard time memorizing. Still, the creation of a password is not the best moment to practice your creativity so that you can entrust this to a specifically tailored Strong Password Generator.
To make yourself utmostly secure, it pays to save your password offline or write it down on a piece of paper. But if you are too cool for stationery and only use online storage, please make sure no one else has access to your cloud.
Is a Password Enough?
We are afraid no. There is nothing wrong with passwords, they still work as the first step of authentication. Yet, alone, passwords do not provide the level of security necessary to protect your digital assets. In practice it takes two steps, to keep your account safe. So what is to be done?
2FA is What You Need to Secure your Assets
The whole idea of 2FA (Two-Factor Authorization) is to set an extra layer of account protection with the second step of authentication.
Nominex features Google Authenticator for 2FA. This means that you need to install Google Authenticator app to your smartphone (or other devices) to enable 2FA for your account. How does it work?
Once you have installed the app on your device, you need to scan the QR code displayed on the webpage of the Account Security section. After that, the app will generate the one-time secret code valid for 30 seconds. You need to use this code to sign in your Nominex account, once you are done with the password authentication.
Currently, 2FA is considered the safest and most popular method to ensure account security. So do not hesitate to enable it!
You can use any software that implements two-step verification services using the Time-based One-time Password Algorithm (TOTP) and HMAC-based One-time Password algorithm (HOTP) like Google Authenticator, Authy, LastPass Authenticator, etc.
What else can I do to secure my assets?
Visit SSL-protected websites only
Just take a couple of precautions. Make sure the website you are browsing is SSL-protected, so you can have peace of mind, your personal data (like passwords, account information, credit card details) cannot be read, even if intercepted. This security measure is of extreme importance, especially when it comes to exchange platforms.
Trading on Nominex, you can rest easy about security, as the platform uses the HTTPS protocol, allowing for bank-grade data protection.
Make sure your URL is correct
The usage of phishing sites is now one of the most popular ways that hijackers use to gain access to traders’ accounts. Phishing websites are fake sites, that camouflage as legitimate ones to attract users and intercept their personal data. In large part, phishing sites bear only visual resemblance to the real ones. Hijackers usually promote their fake websites, sending links via emails, emails, or advertisements. So to secure yourself, it is better to manually type the website’s URL on the browser’s address bar.
Activate a VPN connection
When connecting to a public WiFi network (or any WiFi network that you do not trust), it is safer to use a VPN (a virtual private network). When using a WiFi network in a cafe or open space, you never know whether a person sitting next to you will not intercept your files or start searching through your data. What a VPN does is encrypting your internet traffic, connecting it to the server of the VPN company so that no one can read your data.
Apply a passcode lock on your offline devices
Even using an offline device to store your data can still be risky without setting up a passcode. So even when a passcode is optional, you should still make sure to select a secure passcode, not a simple four-digit PIN.
Update your software
Unfortunately, many users do not bother to keep their software up-to-date, while the majority of system breakdowns stem from outdated operating systems and browsers. In practice, software updates are essential to keep both your devices and online accounts safe.
So Should I Worry About My Nominex Account Safety?
With Nominex, you can enjoy your trading experience to the fullest, having no fears over data protection. We store 99% of assets in a cold wallet with military-grade security so as soon as you don’t expose your account, your money is safe and sound. We designed a fool-proof system that won’t even allow you to use a too weak password or deposit crypto without 2FA. You just have to make sure you’re visiting https://nominex.io/ via a secure connection (i.e. VPN and from your own device). The rest is on us! So get on board and watch out for hijackers!