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Renowned cryptocurrency exchange Binance has strong security protocols to guarantee that customer funds are secure.
The majority of the exchange's holdings are kept in cold storage, which lowers the risk of hacking. In addition, Binance keeps a $1 billion Secure Asset Fund for consumers (SAFU) to reimburse consumers in the event of major platform breaches.
Additional noteworthy security features include support for hardware 2FA, real-time monitoring for suspicious activity, access control options like restricting withdrawals to particular IP addresses or wallet addresses, and threshold signature schemes (TSS) that need several signatures for transactions.
Additionally, Binance promotes the use of strong passwords, frequent operating system updates, and refraining from clicking on dubious links in emails and communications.
The majority of the exchange's holdings are kept in cold storage, which lowers the risk of hacking. In addition, Binance keeps a $1 billion Secure Asset Fund for consumers (SAFU) to reimburse consumers in the event of major platform breaches.
Additional noteworthy security features include support for hardware 2FA, real-time monitoring for suspicious activity, access control options like restricting withdrawals to particular IP addresses or wallet addresses, and threshold signature schemes (TSS) that need several signatures for transactions.
Additionally, Binance promotes the use of strong passwords, frequent operating system updates, and refraining from clicking on dubious links in emails and communications.
