Exchange security questions

[SistaFista]

We should never leave our coins too long on the exchange. If we don't want to trade anymore, we can withdraw the coin to our wallet.
Using 2FA is a good way to keep your account safe when hacker want to steal your account.
The problem is, if the hacker can get into exchange database, they can get any wallets details without stealing any accounts.
In other words, Passwords and 2FA are security on the client/account side, while the security of exchange infrastructure is on the exchange side.

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[masterrex]

The fingerprint scanner is an added layer of security accompanied by 2FA from app or code from an email it was required to apply it in our account to make sure that our account was safe from others. by the way, if you are afraid that someone will use your account without your permission will just make sure that only you have access in the device that you are using.but in terms of storing cryptocurrency in exchange I think it depends on any situation but so far I never encountered any glitch yet, I trust Binance and also it's platform security so theres nothing to worry about.

[Bezobraznike]

   I use 2FA and in feel secured. I am not a trader, and I don't like to keep my funds
on any exchange. I use exchanges to deposit, to buy what I want and after I'm withdrawing.   
   I know that exchanges hacks don't happen all the time, but I don't Luke to keep
coins there, I have hardware wallets for that purpose.

[kotajikikox]

   I use 2FA and in feel secured. I am not a trader, and I don't like to keep my funds
on any exchange. I use exchanges to deposit, to buy what I want and after I'm withdrawing.   
   I know that exchanges hacks don't happen all the time, but I don't Luke to keep
coins there, I have hardware wallets for that purpose.

That add securities for your funds. Using hardware wallets and is the very best first line defense instead of storing
your funds inside any exchange, even the exchange is reputable there's still chance that

hackers will able to break your defense, not the entire securities of the site but your account alone can be penetrated once the hackers since opportunities.

2fa feature in the other side can give protection but
hackers are hackers they will do everything so don't let
your guards down.

[unusualfacts30]

Newbies have been warned several times not to leave coins on exchanges, my question today is about exchange security and I'm going to use binance as an example

1st Question: binance exchange and few top exchanges I've used has finger print scanner under security settings, I want to know if this can only safe me from people around me or also online hackers, both withdrawal and deposit requires my thumb print, how good is this ?

2nd Question: my second question is almost same thing as the first, which is 2FA, it's part of my security settings that login, deposit and withdrawal requires 2FA codes too, how tight is this from hackers? And of course people around me ? Thank you


Note: I'm not planning to leave my coins on exchanges, not that stupid but I'm a full time trader and I use binance so I just want to know

If you are speaking of big exchange like binance they are very much secure compare to small time exchange. What you need is double security like 2FA along with finger print. It's always safer to use as much security settings as possible and these days reputable exchanges will make sure that you set them up before you can start trading.

IF you want best securyt you want to go with hardware wallet instead which is much more safer than exchange wallet.

[adzino]

The fingerprint scanner is an added layer of security accompanied by 2FA from app or code from an email it was required to apply it in our account to make sure that our account was safe from others. by the way, if you are afraid that someone will use your account without your permission will just make sure that only you have access in the device that you are using.but in terms of storing cryptocurrency in exchange I think it depends on any situation but so far I never encountered any glitch yet, I trust Binance and also it's platform security so theres nothing to worry about.

So you are blindly trusting their security? It doesn't matter if you add 10 layers of security, the exchange get still get hacked and you will lose your coins even if they didn't access your coins. Just because you haven't encountered any problem so far, doesn't mean that the exchange is secure.
Even if you do believe on their security system, I would suggest you not to store any coins in any exchange.

[qomariah95]

Every exchange can be hacked at any time, but it depends on how strong the security system in the exchange is. And for 2FA, I use it too. to add more security systems, to store our assets on an exchange is too dangerous. but I dare to take the risk. Depending on the exchange, if the top exchange is definitely I dare. if the exchange is low, must be careful.

[Nhor1011]

Newbies have been warned several times not to leave coins on exchanges, my question today is about exchange security and I'm going to use binance as an example

1st Question: binance exchange and few top exchanges I've used has finger print scanner under security settings, I want to know if this can only safe me from people around me or also online hackers, both withdrawal and deposit requires my thumb print, how good is this ?

2nd Question: my second question is almost same thing as the first, which is 2FA, it's part of my security settings that login, deposit and withdrawal requires 2FA codes too, how tight is this from hackers? And of course people around me ? Thank you


Note: I'm not planning to leave my coins on exchanges, not that stupid but I'm a full time trader and I use binance so I just want to know

Finger print is much better of course than 2fa authentication code. Hackers can't access your account easily because they don't have a finger print like yours. But 2fa is require anytime you make a deposit and withdrawal. So,much better and more secure if you have 2fa then you also use finger print.

[ned.ryerson]

Every exchange can be hacked at any time, but it depends on how strong the security system in the exchange is. And for 2FA, I use it too. to add more security systems, to store our assets on an exchange is too dangerous. but I dare to take the risk. Depending on the exchange, if the top exchange is definitely I dare. if the exchange is low, must be careful.

hackers are getting smarter every day and they can hack whatever they want. the fact is that they prepare for their hacks for a very long time because they don't want to be caught. Therefore, you need to be very careful

[budi691]

Binance exchanges and others have taken various steps to keep their exchanges safe from hackers, and when we trade in the market, we need an account that we need to protect from hackers. With fingerprints and 2FA which are commonly used by many people, whatever security we use, if possible we keep it very safe without just clicking on the news that comes into our email. because I believe many people can be hacked from their personal items not from exchanges,

[thesmallgod]

Binance has one of the best security, the fingerprint scanner protects you from online hacker and people around the. This is because you will need this plus code sent to your mobile phone to quickly get access to your account. 2FA is another powerful method of increasing the security of your account. Unless someone has access to the google authenticator code that is generated for your binded account, it is very unlikely that someone has access. The platform is also very sensitive to IP change. if it is noticed that your location has changed, you will need to authenticate that you are the owner of the account through your mail

[LbtalkL]

1st Question: binance exchange and few top exchanges I've used has finger print scanner under security settings, I want to know if this can only safe me from people around me or also online hackers, both withdrawal and deposit requires my thumb print, how good is this ?

That fingerprint security is only in your device, so it will protect you from the people around that has malicious attempt, it is a much better alternative than pincode. But if the hackers target you remotely via phishing, etc. fingerprint protection will not help.

2nd Question: my second question is almost same thing as the first, which is 2FA, it's part of my security settings that login, deposit and withdrawal requires 2FA codes too, how tight is this from hackers? And of course people around me ? Thank you

With Binance updated 2fa, they have added 3 2fa on withdrawals which is pretty good. They need code from mobile, email and your 2fa authenticator my recommended authenticator is Aegis and Authy which are much better than google authenticator. Also, for added security set anti-phishing code so that you will recognize which  emails are genuine and fake.

[Em00n01]

What i know the finger print only works in your device. So it won't help you if the hacker get access.

The second one, 2fa seems to be most secure to me. I'm using it right now. For withdrawal you will needed code from your mobile, email and authenticator app. That meanst 3 stage verification. Also you can active whitelist address. This won't allow to send crypto to other unknown addresses.

[Moeda]

~snip

I think 2Fa is strong enough as a security exchange. But if you want to add security functionality, I think you can add email verification at login or code verification phones.

[Chuky92]

Newbies have been warned several times not to leave coins on exchanges, my question today is about exchange security and I'm going to use binance as an example

1st Question: binance exchange and few top exchanges I've used has finger print scanner under security settings, I want to know if this can only safe me from people around me or also online hackers, both withdrawal and deposit requires my thumb print, how good is this ?

2nd Question: my second question is almost same thing as the first, which is 2FA, it's part of my security settings that login, deposit and withdrawal requires 2FA codes too, how tight is this from hackers? And of course people around me ? Thank you


Note: I'm not planning to leave my coins on exchanges, not that stupid but I'm a full time trader and I use binance so I just want to know

I would say, no matter the security features or enhancement done by any exchange whether top exchanges or not, it is not wise keeping funds on them; holding funds in private wallets has proven to be the best for a long time now. I once came across a post of list of hacked exchanges and it was terrible as the number was too much. No matter the measures put in place 2FA or whatnot, if the hackers get their way to the exchange, no user will be safe.

[ubay]

1st Question: binance exchange and few top exchanges I've used has finger print scanner under security settings, I want to know if this can only safe me from people around me or also online hackers, both withdrawal and deposit requires my thumb print, how good is this ?

This option is in my opinion the best, because duplicating fingerprints is impossible for a hacker who works remotely.

2nd Question: my second question is almost same thing as the first, which is 2FA, it's part of my security settings that login, deposit and withdrawal requires 2FA codes too, how tight is this from hackers? And of course people around me ? Thank you

2FA is also very strong, but it should be noted that when you register at one of the exchangers, make sure to use a different password from other exchangers, this is a standard procedure so that hackers don't steal other data.

[bbcolex]

You can secure your account by doing all security measures that is needed, like 2fa , fingerprint etc. Also secure your phone or laptop from malicious files that might able to attach some sniffing apps to duplicate all your identity. as for my own opinion I think binance security is good but still anything can happen online.

[shaheer001]

Everything is possible in this world the main thing is that you do your best to safe your funds in exchanges as All good exchanges have multiple security options you must activate all the options to minimize the chance of hacking. Must confirm the Exchange link and email link before going forward as almost 99% stolen funds occurred in past was due to phishing sites, emails.

[militiariko]

1st Question: binance exchange and few top exchanges I've used has finger print scanner under security settings, I want to know if this can only safe me from people around me or also online hackers, both withdrawal and deposit requires my thumb print, how good is this ?

2nd Question: my second question is almost same thing as the first, which is 2FA, it's part of my security settings that login, deposit and withdrawal requires 2FA codes too, how tight is this from hackers? And of course people around me ? Thank you

First one is secured too cause only you or your fingerprint is needed in order to execute withdrawals on your account. Binance uses email to confirm the order so hackers will not be able to easily send the fund to their own address.

2fa is important but there are instances that this is has been breached. But chances of it is unlikely unless the users are always clicking links that might have a virus that can oppress the said 2fA.

There are cases of these here but I forgot where those topics has been discussed.

In addition to this, binance has further tightened their security. If i want to withdraw from my binance accounts, i have to provide code from my sms, code from my email and also code from google authentication, which means except your reveal your privacy to another, you should be fine

[prehisto]

The safety of 2fa either if it is finger print, email , sms or generated code depends on you.
hackers will use phishing to get around it, they will try to send you sms or email in order to bypass your security features.