As digital assets become more popular and their value increases sharply, crypto exchanges have become a primary target for hackers. Many have lost everything just due to a moment of negligence in security. So how can you protect your assets safely on exchanges? Below are principles you must not overlook.
1. Prioritize choosing a reputable exchange
Start by choosing the right place to 'store gold'. Large exchanges like Binance, Coinbase, Kraken, Bybit, etc. usually have strong security systems, good user support, and transparent information. Stay away from strange exchanges, unclear origins, or those previously involved in scandals.
2. Enable two-factor authentication (2FA) immediately
Never rely solely on a password. Activate 2FA using apps like Google Authenticator or Authy for an extremely important extra layer of protection. Absolutely do not use SMS verification as it is prone to SIM swap.
3. Do not keep all assets on the exchange
Exchanges are just places for trading, not for long-term storage. Only keep a small portion sufficient for trading; transfer the rest to a personal wallet, especially a cold wallet if you are investing for the long term. The principle of 'Not your keys, not your coins' is always true!
4. Set up a trusted withdrawal wallet list (whitelist)
This feature helps you limit withdrawal addresses. Even if hackers access your account, they cannot transfer coins elsewhere without a wallet in the whitelist. Do not overlook this extremely useful feature.
5. Be cautious with phishing and counterfeit software
Many cases of losing money occur due to logging into fake exchanges or downloading fake apps. Please:
Carefully check the URL (you should bookmark the official exchange).
Only download apps from the App Store or Google Play.
Never click on strange links from emails, messages, or social media.
6. Monitor login and transaction activities
Regularly check login history, access IPs, and withdrawal commands. If anything seems unusual, change your password immediately, withdraw assets to your personal wallet, and contact the exchange's support.
7. Absolutely do not share security information
Do not give your OTP, 2FA, password, or seed phrase to anyone, even those claiming to be exchange staff. Reputable exchanges will never ask you to provide security information via email, message, or phone call.
Conclusion:
The crypto world is full of opportunities but also carries many risks. Don't lose your assets just because of a few careless actions. Take control of your account, take control of security, and become a smart investor starting today.