THE 5 ESSENTIAL RULES HOW TO PROTECT YOUR TRADING ACCOUNT?

Many people have turned to online trading, which presents great opportunities to trade major cryptocurrencies from the comfort of their home on through a mobile device. And while this activity has a certain degree of novelty as in being a side profession, many do not pay enough attention on doing basic and fundamental things to secure their account and get a safe trading experience. So let us have a look at what one can do to protect themselves and their trading account funds.

Password security

As obvious as this seems, creating a unique strong password is probably the most crucial step in securing your account. Make sure you follow the suggestions on password strength – use random digits and include both lower- and upper-case letters, as long with symbols if possible. Passwords which are merely your date of birth or 123456 are super easy to crack for computer hackers. Another important rule is use different passwords for different accounts.

This is because, if in the unfortunate event of having your e-mail or another website you use broken into, then hackers might try, and access other accounts associated with this username. So be diligent with your passwords and even use a password manager if you have a lot of online registrations.

Transactions

This may also appear natural, but again something to be careful with, make sure it is only who executes the transactions on your trading account. In reality no one should have access to it other than you, so only you should be able to deposit and withdraw funds. Do not let anyone fool you in to using your payment methods and move funds in and out of your account – if this is necessary in an extreme situation, the only person you should trust is your own account manager, who you are familiar and trust.

Contact Support

Every time you suspect something or come across strange or unfamiliar activity account, the first thing you need to do is contact your customer support team immediately. Do not lose time trying to remember if anything specific has happened, but rather get in touch your platform and explain in detail your concerns. These are the people who can advise you and confirm any account activity, as well as perform certain security measure like locking your account and reset your passwords and usernames. This is after all the point in a customer support team – to look after any concerns users may have.

Be careful with Advice

In today’s day and age of social media profiles and instant connectedness, it is not far too difficult to obtain the contact details of random people and their social profiles. This might be convenient in instances, but also brings some danger, as you could easily be reach out with propositions to trade or deposit from completely self-proclaimed financial assistant. You should really avoid this advice and never trust strangers, just because they manager to add or reach you via social media.

Avoid Remote Access

This last guideline is really obvious and important, yet the Internet is full of stories about people who made the mistake to give access to their desktop or laptop computer using remote access applications.

It is one thing to allow your colleague in the IT department of your company help you out with a working issue. It is however completely different when you give access to a complete stranger over software such as Team Viewer, Any Desk and the like. Not do they get access to your personal data and are now able to corrupt your computer, you also risk having important payment information and funds directly stolen from you. So to put it simply, avoid remote access, when it comes to strangers ask for it – the stories they come up with can really fool you, so do not even give them a chance and follow this rule always. As a matter of fact, follow all the guidelines discussed here – that is how you limit the danger of having funds and data stolen digitally and increase the levels of your protection online!