As cryptocurrencies are growing in popularity, the number of malicious activities is increasing. It’s more important than ever to have a secure Binance account in order to mitigate the risks of potential hacks and theft. Keep reading to learn how you can improve the security of your Binance account.
1. Utilize RSA encryption for API trading. When trading on Binance via an API, employing an RSA key pair is a good security practice. This involves a public key for encrypting data and a private key for decryption. Register the public key with Binance and use the private key for signing API requests.
2. Implement IP access restrictions. You can also whitelist IP addresses, only allowing API access from specific, approved IPs. Any access attempts from unapproved IPs are automatically blocked. You can set this up through the API management settings on your Binance account.
3. Adopt two-factor authentication with YubiKey. Set up two-factor authentication (2FA) using a YubiKey. YubiKey is a physical device that gives access to your account when inserted into a device. It provides stronger security compared to software-based 2FA solutions. 2FA works by requiring a second form of verification during login. This protects your account against unauthorized access even if your password is compromised.
4. Strengthen your password. Maintaining a strong password is a fundamental security practice. Change your passwords every three months, avoid using personal information, and opt for passwords that include a mix of upper and lower case letters, numbers, and special characters. You can consider using a password manager to generate and store your passwords securely.
Learn more: 5 Ways to Improve Your Binance Account Security.