In this article we will talk about securing your exchange accounts with SMS security, covering the following topics: What is SMS security, how does SMS security work and what are the advantages and disadvantages of SMS security.
Table of Contents
SMS Security
SMS security is an option that you often have at cryptocurrency exchanges. By means of SMS security you can build an extra security step into your account when logging in. By setting up SMS security, you make it a lot more difficult for intruders to get into your account. They do not only need your username and password, but also a certain verification code. If you do not have access to this verification code, you will not be able to access the relevant account.
How does SMS security work?
You can set up SMS security at most cryptocurrency exchanges as extra security in addition to or instead of 2fa security or verification by email confirmation. Once you have set up SMS security, you will always have to enter a verification code in addition to your username and password when logging in. This verification code will be sent to your mobile phone when you log in. The moment you enter this verification code correctly, you will gain access to your account. Two examples of exchanges where you can log in with SMS security are Binance and Kucoin.
Pros of SMS security
Protecting your wallets and exchange accounts is very important to prevent strangers from running away with your cryptocurrencies. The benefits of securing your account with SMS verification are listed below:
Pros
- More difficult for hackers to get in.
- Logging in creates more awareness.
- People must have access to your phone to get into your account.
Conclusion
Setting up security measures to gain access to your exchange accounts is highly recommended. If you do not do this, you run an increased risk of becoming the victim of a hack. So be aware of the dangers when you do not implement additional security verification such as 2fa, SMS security or email confirmation in your account.