The paramount importance of user and account security was highlighted by the recent news of Japanese cryptocurrency exchange losing nearly $100 million to hackers. Ethereum made up half the loss, and the rest comprised Bitcoin, XRP and stablecoins.
That case was just one among many examples of how a breach in security can have far-reaching consequences while jeopardizing the safety of traders’ digital assets and funds.
BTSE is committed to enabling its users to trade confidently, making the security of the platform and its users’ accounts a top priority. Towards that goal, BTSE has introduced a series of security enhancements for even stronger protection of users’ funds.
Users have recently received notices by email and on the platform encouraging them to set up 2-Factor Authentication (2FA). The 2FA is now required for both fiat and cryptocurrency withdrawals. Other security enhancements BTSE has rolled out include:
- Changing one’s account password requires a one-time password (OTP) via email; 2FA will also be required if it has been enabled.
- Binding or removing 2FA on a device requires using an email OTP, in addition to the pre-existing verification via 2FA code.
- A security dashboard to give users a clear view of their account security status, covering basic authentication, 2FA, and devices and activities.
Other measures still to come include more comprehensive identity verification measures (or KYC) to ensure added security. By then, only with full verification will users have full access to BTSE’s services and functions.
For some, the additional steps may feel like a hassle; in fact, some enhanced measures are not noticeable to users. But all enhancements are made to further safeguard BTSE users’ accounts. Account security is both the baseline and high bar by which BTSE builds trust. Enabling users with a quality trading experience ultimately begins with security — and peace of mind.
Click here to view your security dashboard and set up 2FA for your BTSE account. You will also see the 2FA prompt upon login.
Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at email@example.com or on Twitter @BTSE_Official.
Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.