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Beyond Passwords - An Advanced Security Guide on Bitget

Beyond Passwords - An Advanced Security Guide on Bitget

2024-06-18 | 15m

As the primary gateway for accessing cryptocurrencies, crypto exchanges provide essential services for buying, selling, and trading digital assets, making them integral to the crypto ecosystem. However, users must implement robust security measures, such as strong passwords and 2FA, to protect themselves from potential threats. By taking the following precautions, individuals can safely navigate the crypto landscape and take full advantage of the opportunities it offers.

Introduction to Bitget Security

It took less than five years for Bitget to become the world’s leading crypto exchange with over 20 million users. Bitget's focus from day one has been and remains user protection, for which we constantly review and update our security measures. We also encourage users to adopt the recommended practices to meet us halfway.

The multi-layered security approach on Bitget ensures that even if one security measure is compromised, the other layers provide additional protection, significantly reducing the risk of unauthorised access. By integrating multiple authentication methods, Bitget creates a complex and resilient defence system. If an attacker bypasses one security layer, the subsequent layers act as failsafes, preventing unauthorised access. This redundancy is crucial in safeguarding against a wide range of threats, from phishing and brute force attacks to SIM-swapping and malware. The combination of different security practices means that an attacker would need to overcome several independent hurdles simultaneously, which is exponentially more difficult. This comprehensive strategy provides users with a robust shield, protecting their accounts and assets from various vulnerabilities and ensuring peace of mind in the ever-evolving landscape of cybersecurity threats.

If you're new to the market, there's no need to worry. Bitget provides an array of informative articles to quickly acquaint you with the essentials and keep you alert to potential scams:

Common Cryptocurrency Scams and Frauds

Bitget's Ultimate Shield: Your Guide to Defeating Phishing Scams

Why You Need A Strong Password and 2FA For Your Crypto Account

Protection against unauthorised access

A strong password and 2FA significantly reduce the risk of unauthorised access. Cybercriminals use various techniques like brute force attacks, phishing, and malware to gain access to accounts. For instance, Chinese cryptocurrency journalist Colin Wu revealed that a Chinese user lost $1 million on Binance after downloading a malicious Google plugin.

Mitigation of financial loss

Cryptocurrencies are often targeted by hackers because transactions are irreversible. Strong passwords and 2FA help protect your assets from theft. OKX users faced significant financial losses after their accounts were compromised through SIM-swapping attacks. The exchange responded by implementing mandatory Google Authenticator for 2FA to enhance security.

Protection of personal information

Your crypto account may hold not just your funds but also personal information that could be exploited for identity theft. Securing your account helps protect your privacy and personal data.

Prevention of account takeovers

If a hacker gains access to your account, they can take over and change the login credentials, making it difficult for you to regain control. Using strong security measures prevents such takeovers.

General Security Principles

When navigating Bitget or any other online platform, the following general security principles should always be at the forefront:

Strong password practices: Always opt for complex passwords comprising a mix of letters, numbers, and symbols. Regularly updating your password reduces vulnerability. Here are some tips to create a strong password:

○ Use a long password: Aim for at least 12-16 characters.

○ Include a mix of characters: Use a combination of uppercase and lowercase letters, numbers, and special symbols.

○ Avoid common words and phrases: Refrain from using easily guessable words or sequences.

○ Use a passphrase: Consider a sequence of random words or a memorable sentence.

○ Don't reuse passwords: Ensure unique passwords for different accounts.

○ Regularly update your password: Change it periodically to reduce the risk of long-term exposure.

Enable two-factor authentication (2FA): 2FA offers an additional layer of security by requiring users to enter a one-time code sent to a registered device or app. This ensures that even if your password is compromised, unauthorised access can be prevented. To further enhance security, disable cloud backup for your 2FA app and keep your backup codes in a secure, offline location. While cloud backups can be convenient, they also pose a security risk if your cloud account is compromised, attackers can gain access to your 2FA codes.

Beware of phishing: Always ensure that you're logging into the genuine Bitget website. Avoid clicking on suspicious links or downloading attachments from unknown sources.

Secure your device: Ensure that your computer, smartphone, or tablet has the latest security updates. Using a reputable antivirus and firewall can further fortify your defences.

Avoid public Wi-Fi: Avoid accessing your Bitget account or conducting transactions over public Wi-Fi networks, as they are more susceptible to breaches.

Regularly monitor your account: Regularly review your account activity. If you notice any unfamiliar transactions or changes, contact Bitget support immediately.

Backup and encrypt: Always backup critical data, such as your wallet. Encryption tools can provide an added layer of protection for sensitive information.

Stay informed: Follow Bitget's official channels, such as our Twitter, Telegram Channel, Academy, Blog, or Support Center, to stay updated on any security advisories or updates. You can also check whether the email, website address, or social media account is Bitget’s official channel by visiting our Bitget Official verification page.

Bitget Security Functions

At Bitget, we understand the risks and challenges associated with online transactions and have implemented several security features to guarantee the safety of users' assets and data. Here's a look:

Access Bitget Security Settings:

For the Bitget App

● On the homepage, tap the [Profile] icon;

● Select [Security] tab.

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For the Bitget Website

● Navigate to the Bitget homepage

● Under the [Human] icon, choose the [Security] tab.

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Two-Factor Authentication (2FA):

This multi-layered authentication process ensures an added layer of security for users. You can always see our recommendation(s) for security improvement on the top of the page as shown in the picture below:

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To enhance your protection, click [Configure] to set up your Two-Factor Authentication.

Phone number verification: By receiving verification codes on your phone, you fortify the sanctity of your account and transactions. A vital note: if you switch your bound phone number, there's a mandatory 24-hour freeze on payments and withdrawals for safety.

Email verification: Similar to the phone verification process, email verification codes work as an additional protective measure. Modifying your registered email? Expect a 24-hour halt on financial actions.

Google authenticator: This is a recommended method by Bitget. The time-based one-time codes from Google Authenticator act as a shield for your account. Remember, any modifications to your linked Google Authenticator will activate a 24-hour hold on all monetary activities.

Biometric authentication (for the Bitget App)/Passkey (for the Bitget Website): Biometric authentication uses unique biological characteristics, such as fingerprints or facial recognition, to verify your identity. Passkeys are a form of advanced security technology designed to replace traditional passwords with cryptographic keys, providing a more secure and user-friendly login experience. Passkeys are more secure than passwords because they are phishing-resistant, error-proof, and support Two-Factor Authentication (2FA) by design. When users generate a passkey, they can’t make mistakes like they do with passwords. Since passkeys are tied to the devices they’re generated on, the device acts as the authenticator, making passkeys even more secure than passwords since that device will always be required to log in.

For a comprehensive walk-through, delve into our guide Setting Bitget Google Verification Code Guideline and fortify your trading security.

Advanced Security Configurations:

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Login password: This is your primary access key to the Bitget platform, acting as the first line of defence for your account and transactions. Should you opt to change this password, please be informed that it will lead to a 24-hour hold on any payments and withdrawals.

Fund code: Think of this as an extra shield; a unique code designed to further protect your assets and transactions. If this code is changed, a 24-hour freeze on payments and withdrawals is automatically activated.

Withdrawal whitelist: Enhance your security by specifying which withdrawal destinations you trust. Once this feature is activated, your funds can only be transferred to these approved addresses, thereby substantially reducing the risk of unauthorised transfers.

Anti-phishing code: As part of Bitget's commitment to authentic communication, every email dispatched from Bitget bears a distinct anti-phishing code. This assists you in swiftly distinguishing between genuine Bitget communications and potential fraudulent attempts.

Third-party account integration: Catering to the needs of the modern user, this feature offers the convenience of linking your Bitget account with trusted third-party platforms. This integration aims to streamline and simplify your login experience.

Passwordless withdrawals: Personalise your withdrawal experience! Set predetermined limits and effortlessly manage your withdrawal destinations with this intuitive feature.

Cancel withdrawal: This allows you to review and revoke a withdrawal order within one minute after submission.

Device Management And Activity:

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Trusted device management: With this tool, users have the power to specify which devices are allowed access, acting as an extra layer of protection against unwarranted and unauthorised entries.

Account activity: You can review your Login history and Operation history here to make sure there's no foreign login or abnormal activity.

Facial recognition (Bitget App-only): Turn this off if there's more than one person sharing this particular mobile device with you.

App inactivity lock (Bitget App-only): Set the timer for auto-lock to avoid any unwanted access to your account.

Bitget’s Pro-Tip: Disable Google Authenticator's Cloud Sync

Google Authenticator has rolled out a cloud sync feature for 2FA (Two-Factor Authentication). Although it's designed for user convenience, it's crucial to know that this update doesn't come with end-to-end encryption. This omission could pose potential security threats, specifically with the potential leakage of 2FA CDKEYs.

Here's what every Bitget user should be aware of:

● Activating the cloud synchronisation function may render all Google verification codes linked to your account vulnerable.

● For those using Google Authenticator for security verification on Bitget, it's highly recommended to deactivate the [Cloud Sync] option to ensure your account's utmost security.

Steps to disable Cloud Sync on Google Authenticator:

If you're currently logged into Google Authenticator

Google Authenticator status: logged in

Tap your profile in the top right corner and select [Use Authenticator without an account], then tap [Continue] to disable the [Cloud Sync] function of Google Authenticator.

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If the Cloud Sync function is turned off

Google Authenticator status: logged out

If the [Cloud Sync] function is turned off, as shown in the images below, then no action is required.

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Take Actions To Safeguard Your Assets With Us

As the digital currency market continues to evolve, the importance of security in online platforms cannot be overstated. Bitget, being a front-runner in the crypto exchange arena, emphasises the criticality of safeguarding user assets and personal data. While it's heartening to see Bitget's plethora of built-in security features, the onus is equally on users to exercise caution and employ best practices. By adhering to basic security principles such as using strong passwords, being wary of phishing, and regularly updating security settings, users can significantly minimise potential risks. Security is a two-way street: while platforms like Bitget lay the foundation, it is the collective responsibility of users to ensure that they walk this path diligently.