Security checks that you should consider in a cryptocurrency exchange platform

Introduction

Cryptocurrency features are one among many important things that you should always look for when you are looking for an exchange platform. There are many available options that you have to choose from. One of the things that you should always consider and check when you are looking for a cryptocurrency exchange in the bitcoin era security. Here are some of the security measures that you should always consider when you are looking for a cryptocurrency exchange

The two factors authentication

One thing that you should never fail to check is the two-factor authentication. The authentication method is also known as 2FA. This is simply a method that is used in the confirmation of identity. These methods always use a combination of different factors. The first factor is always something that they know and the second one is something that they have. It can be a question and answer authentication or it can be a digit number that they send through your phone or your email. That is how you can run a security check of the bitcoin era platform.

The cold storage system

Another thing that can help you with your security check is the cold storage system. Cold storage is simply a way to secure a customer’s funds. It allows you to save your bitcoins or your funds offline away from your network. By doing that, you will be saving your account from harm such as hackers and other scammers.

The proof of reserve

Any exchange is supposed to be verified to determine if it is a good investment or not. The audit done on the exchange is always on the total amount that the exchange holds. Always consider proof of reserve before investing.