Lesson 2.0.0. How to Provide Extra Levels of Security to Your Account
After opening your Binance account, you will need to secure it so that no unauthorised person can have access to your crypto wallets in your Binance account.
There are various levels of security you will need to provide as follows:
2.0.1. Level One Security: Password
The first level of security of your Binance account is your Binance login password, which should be one that is not easy to guess but is easy for you to remember.
Six Tips to Create a Secure Password:
1. A password should be long enough that it is impossible to guess but short enough for you to easily remember. A minimum of 8 characters is recommended.
2. A password should include a combination of letters, numbers, and a special character(s) such as @, #, $, etcetera. This makes it difficult for an intruder to guess.
3. Your password should not include any of your personal information like your names, address or phone number, and it should not contain other obvious information that is linked to you such as your business name, social stage names, sibling names, family names, etcetera.
4. A password shouldn’t contain any consecutive letters or numbers, e.g. ABCD, 1234, etcetera.
5. Avoid using the word “password” or any other obvious words to set up your password.
6. As much as possible a password of one account should not be shared with many other accounts of yours.
2.0.2. Level Two Security: Email Login details
The second level security you will need to set up for your crypto account is your email login details.
Your Binance account is linked to your email. Hence, anyone who has access to your email can have access to your Binance account. Therefore, your email login details should be very secured. The login password should be one that is not easy to guess but is easy for you to remember.
Important Tips to Remember:
• Use a Gmail account because it is very secured to set up your crypto account.
• Set up a two-step verification on your Gmail account to prevent unauthorised entry.
• Set up a locked screen (password) for any gadget that has access to your email account.
• Set up a spam filter in your email.
2.0.3. Level Three Security: Two-Factor Authentication
Two-Factor Authentication (2FA) is one of the most brilliant security inventions for digital applications. 2FA provides an extra level of security for your crypto account.
Here are the steps to set up 2FA in your Binance account:
Step 1: Download and install the Google Authenticator app on your phone from your Appstore or Play store.
Step 2: Login to your Binance account that you have created with your email address and password.
Step 3: Look for the “Security” tab and click on it.
You will see Google Authentication and SMS Authentication. Google Authentication is preferable since SMS Authentication could be intercepted by a sophisticated hi-tech scammer. There has not been any reported breech of Google Authentication. Most people set up both authentications.
Step 4: Click on the Google Authentication in the security section of your Binance account, and a QR Code with an authentication key will pop out.
Step 5: Copy the authentication key into your diary for safe keeping.
You will need this to recover your account in case you lose or change your phone or PC and hence need to reinstall Google Authenticator. If you lose the key, you might not be able to recover your account.
Step 6: In your phone’s Google Authenticator app, tap on Add Account and two options will pop out: Scan QR Code or Enter Key Manually. You can choose any of these two options.
Step 7: Tap on Scan QR Code, and a QR Code scanner will appear on your phone. Use the scanner on your phone to scan the QR Code on your Binance account, and a six-digit code will appear on your phone. This code keeps changing every 10 to 15 seconds.
Note: Instead of scanning, you can manually enter the Google Authentication code if you tap on Enter Key Manually.
Step 8: Now enter the six-digit code into your Binance account.
Step 9: Enter into your Binance account the generated email code sent to your email when you click on send code in your Binance account.
Step 10: Once you have entered all the codes, click on “Bind” in order to link your Binance account to the Google 2FA.
What you are doing is connecting your Binance account to a Google authenticator on your phone. By so doing, no person or robot, even if he knows your login email and password, can enter into your Binance account without first asking for the code from the Google authenticator on your phone.
Congratulations on setting up Google Authentication on your Binance account that provides an extra layer of security for your account.
2.0.4. Level Four Security: Anti-Phishing Code
The Anti-Phishing Code is a security feature that will add another extra layer of security to your Binance account.
Once you have enabled the Anti-Phishing Code, all emails you will be receiving from Binance will carry the code. Thus, this code will help you to discern genuine emails from phishing emails.
Phishing is a cyberattack that uses disguised message as a weapon. It is a type of online scam where criminals mimic legitimate organizations via email, text message, advertisement or other means in order to steal sensitive information.
In some exchanges, an anti-phishing code will pop out once you try to log into your account, hence, you can easily know if the website you are about to login to is genuine or fake.
This means that if you do not see the anti-phishing code in any message sent to you or on the website you open, you should become suspicious and proceed no further, and should investigate to be sure you are on the correct website or the message is from the right source.
Here are the steps to set up an anti-phishing code in your Binance account:
Step 1: Login to your Binance account and click on the security tab
Step 2: Click on the button labelled Create Anti-Phishing Code.
A field will pop out, prompting you to enter the Anti-Phishing Code that you desire.
The anti-phishing code must be a minimum of 8 characters with both uppercase letters and numbers. It is advised to choose a code that is not easily guessed but is easy for you to recognise.
Step 3: You will now be required to enter your Google Authentication code or SMS Authentication code depending on which 2FA authentication you have enabled.
Step 4: Now click on Create Anti-Phishing Code.
Congrats, anti-phishing is enabled on your Binance account, providing you with an extra level of security.
Tip: The anti-phishing code should be changed periodically, possibly every three months.
2.0.5. Level Four Security: Biometric Data
Binance and some other crypto exchanges require biometric data such as face recognition and/or your fingerprint to enhance the security of your account.
If required, the exchange will provide a step-by-step guide on how you can get your biometric data captured.