Those who are the most successful will surely advise you is that the best way to make money, aside from believing in yourself, is to invest it and do it now. As for the type of investments, there are plenty of them to choose from, and some prefer the famous stock market, while others say that real estate is the most promising one, but just a decade ago, one entirely new market saw the light of day. Yes, we are talking about cryptocurrency. Some are still not willing to accept that, on the one hand, digital money is a great choice to place your money in, but on the other hand, something that is already shaping the world we live in and will stay with us for quite some time. Some already joined the crypto community, and those who believed in the whole system from the start are now billionaires, but there are others who want to believe but are still not that sure whether it would be the right investment.
Let’s first say that the cryptocurrency market is as stable and secure market as any other, with just one exception, the opportunities to make big bucks are much more prominent. Of course, every investment brings certain risks, which is why doing research is an essential part of the job. As for safety, like with any online activity, one can never be too safe, and the first and most important thing is to choose a secure exchange. There are two ways to determine whether some exchange is secure enough or not, and you can either continue reading or click here and find a trustworthy one right away.
You receive the message after every change on the account
It is of great importance to have insight into the account at all times because it is the only way to manage our funds in the best possible way. Secure cryptocurrency exchanges offer us the option to receive a notification message every time when there is some change on our account, no matter if someone sends us funds or we withdraw them. Many think that it is unnecessary because they are the only ones who withdraw funds, and they always know when someone will send them so they can check, but not using this option is not a good idea. We will instantly get the message, and we will know that we are using a safe and secure platform, and if we get the notification about the withdrawal when we are not doing that, it is an alarm sign, and we need to react immediately.
We already mentioned how one could never be too safe while online, and the best way to check whether the exchange really puts some effort into protecting your digital assets and personal info is to find out if they use two-factor authentication. This is a must, as multi-factor authentication is the essence of security. Passwords can be too easy to crack, and hackers often exploit our negligence. By adding extra authentication, every responsible crypto exchange makes a hacker’s job much more challenging and your data more secured. As for how this extra layer of security works, that can vary. Some platforms use a simple SMS confirmation code, but the best way to be as secure as possible is using a special app or program made solely for this purpose.
Usage of cold wallets
When it comes to cryptocurrency storage, we can choose between hot and cold wallets, and each of them has its benefits and flaws. Hot wallets need an internet connection for their operating, and because of that, they are much easier to hack, so many hackers are targeting them. On the other side, they have one huge benefit, and that is fast crypto exchanges. Besides hot wallets, we also can choose to use the cold ones, which do not require an internet connection. Since they are not connected to the internet, it is more difficult to access them and misuse funds on them, but when it comes to exchanges, it is a little slower because we need to connect them to the internet first, transfer funds to the hot wallet, and then finish our crypto activity. A safe and reliable cryptocurrency exchanges need to use both wallets-a hot one for transactions and a cold one for storing our funds. If they offer us that possibility, then we are at the correct address.
Linking the account to IP address
It is one of the options that we can manage by ourselves and decide on how many IP addresses we want to use our account. The whole idea is to choose one or more IP addresses that you are often using for transactions and link them with your cryptocurrency exchange account. In that way, the system will block any other attempt to access the account from some other, unfamiliar IP address that the system does not recognize as the safe one. There is no need to worry about memorizing all IP addresses and know them at all times because you can call customer support to change or add a new one. You can simply do it by yourself when it is necessary, and it will only take a minute or two. Going on vacation is one of the situations when you need to think about adding a new trustworthy IP address because the system will not recognize the new one, and you will probably be stressed because you cannot finish the work.
After reading all this, you should get a much better grasp of what clues you should look for to determine whether some exchange is secure or not. Only when you are 100% sure that some exchange is trustworthy can you dedicate your time to what really matters, and that’s gaining some profits. In the end, if there weren’t for such great investment opportunities, we probably wouldn’t even bother to learn all these new terms, so now, we can all focus on whether to HODL or start selling cryptos.