In the world of cryptocurrency, what does “safe and secure” mean?
In the field of cryptocurrencies, “safe” and “secure” refer to the precautions taken to guard users’ funds and private data from fraud, theft, and other nefarious activity. Cryptocurrencies lack the same regulatory protection and monitoring as conventional financial systems since they are decentralized and run on peer-to-peer networks.
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Remitano makes significant investments in the integrity and security of our exchange platform as a result. Apart from the activities that take place in Remitano’s background, there are steps you may take to safeguard yourself from online fraud. The finest measures consumers may take to guarantee the security and safety of their cryptocurrency holdings are covered in this tutorial.
Easy steps to be safe online in the age of cryptocurrencies
Use caution when browsing.
Understand the most typical cryptocurrency frauds.
Don’t ever digitally duplicate your crypto credentials.
When it is feasible, always activate two-factor authentication.
For each cryptocurrency platform you use, create a unique password.
If at all feasible, utilize a hardware wallet in addition to an online wallet.
Safely store your cryptocurrency holdings with a reputable exchange, such as Remitano.
Update your mobile OS and Remitano app with the most recent bug patches.
To avoid downloading malware, make sure your computer’s antivirus software is always up to date.
Don’t post private or sensitive information about yourself online on social networking sites.
Steer clear of shared or public WiFi networks; for further security, always use WPA2 over WEP.
By using a VPN service, you may go above and beyond. Just enable VPN access in the Remitano App.
Crucial Security Elements That Protect Your Cryptocurrency Wallet
Digital wallets known as “crypto wallets” are used to store cryptocurrency assets and are necessary for controlling and accessing your money. Remitano thus works really hard to give our clients a safe and secure cryptocurrency trading experience.
The following are a few of the most important security measures that keep your account secure:
1. Two-Factor Authentication (2FA): When making trades on your Remitano Wallet, Two-Factor Authentication (2FA) provides an extra degree of protection to your wallet by needing a unique code.
2. Access Control: Users may opt-in for security features like device monitoring, VPN access, and withdrawal whitelisting with our comprehensive access control.
3. Cold Storage: Our users’ assets and monies, to the tune of 80%, are securely kept in cold storage facilities.
4. Security Notifications: In the event that suspicious behavior is found on your Remitano account, you can get emails, texts, and security alerts via our protected notifications.
5. Anti-Phishing Code: With the use of this tool, consumers may verify if an email appears to be from Remitano. We do this by creating a secret code that is only known by Remitano and the user and that shows up in any legitimate email correspondence from Remitano.
6. Emergency Lock: In the event that a user’s account is compromised, this feature enables them to temporarily lock or restrict access to their wallet. Your account will be locked when an emergency lock is activated and won’t open again until we fix the problem.
7. Touch/Face ID: You don’t need to worry about your account since biometric information, such face or fingerprint verification, helps us make sure that only you can log in.
8. Secure inbox feature: We’ll send you a message by SMS and the in-app mailbox if we need to get in touch with you about something essential, and we’ll make sure that only you can read it and reply.
The Most Typical Bitcoin Scams and How to Avoid Them
Scams involving cryptocurrency have grown in frequency in recent years. While Remitano makes a concerted effort to ensure that cryptocurrency trading is safe and secure, dishonest persons frequently search for ways to directly exploit clients. Being watchful and knowledgeable is the best defense against these techniques.
The following list of prevalent bitcoin scams includes advice on how to avoid them:
1. Phake Initial Coin Offerings (ICOs): Con artists fabricate ICOs in order to trick potential investors into purchasing a virtual currency that doesn’t exist. Make sure to conduct extensive due diligence on ICOs before making any investments to steer clear of this fraud.
2. Phishing Scams: Con artists pose as reputable bitcoin exchange or wallet providers and send phony emails, SMS, and social media communications. They deceive people into disclosing private information or login credentials. By only clicking on trusted sites and giving information to allowed people, you may avoid falling for this scam.
3. Ponzi schemes: These fraudulent schemes guarantee investors large returns, but the money from new money is used to settle debts owed to previous investors. Avoid falling for this scam by doing your homework before making an investment and being suspicious of those that offer unreasonably large returns.
4. Pump and Dump Schemes: By purchasing substantial quantities of a cryptocurrency and advertising it on social media, con artists artificially increase its price. They sell their stock when the price rises, which drives the price down. Thus, avoid making hasty investments and do your homework before doing so.
5. Malware: By getting access to users’ wallets or private keys, scammers construct malware that steals bitcoin from users. Make sure your computer’s security software is up to current and that you only download wallets and software from reliable sites to prevent falling for this scam.
6. Social Engineering: To deceive people into handing up their bitcoin, scammers employ social engineering techniques. For instance, they can pretend to be a friend or relative in need and request loans in cryptocurrencies. Check the recipient’s identification before transferring them cryptocurrency to prevent falling victim to this scam. Also, be cautious of any demands for bitcoin that are not asked for.