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Whale Exchanges

πŸ”’ Crypto Security Checklist

Essential security guide to protect your assets from hacking and phishing.

⚠️ Security in crypto trading is not optional. One mistake can cost you everything.

🚨 Critical Security

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Enable Two-Factor Authentication (2FA)

Critical

2FA is the most basic yet effective security measure. Always enable it.

  • βœ“Install Google Authenticator or Authy app
  • βœ“Enable 2FA in exchange security settings
  • βœ“Scan QR code and enter 6-digit code
  • βœ“Save backup codes in a safe place (offline recommended)
  • βœ“Use app-based auth over SMS (prevents SIM swapping)
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Strong Password Management

Critical

Use unique, complex passwords for each exchange.

  • βœ“Minimum 16 characters with upper/lowercase, numbers, symbols
  • βœ“Use different passwords for each exchange
  • βœ“Use a password manager (1Password, Bitwarden, etc.)
  • βœ“Never save passwords in notes or emails
  • βœ“Change passwords regularly (every 3-6 months)
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Phishing Prevention

Critical

Phishing is the most common attack vector. Always verify URLs.

  • βœ“Bookmark official URLs and always access via bookmarks
  • βœ“Never click links in emails/messages
  • βœ“Check URL spelling (binance.com vs b1nance.com)
  • βœ“Verify HTTPS connection (lock icon)
  • βœ“Only use official apps (download from app stores)

⚠️ Important Settings

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Withdrawal Security Settings

High

Set up additional security for withdrawals to prevent unauthorized transfers.

  • βœ“Enable withdrawal whitelist (only registered addresses)
  • βœ“Set 24-hour delay for new addresses
  • βœ“Triple-check addresses before withdrawing
  • βœ“Send small test amount before large transfers
  • βœ“Enable withdrawal notifications (email/push)
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Device Security

High

Keep your trading devices secure as well.

  • βœ“Keep OS and browser updated
  • βœ“Use trusted antivirus software
  • βœ“Avoid trading on public Wi-Fi (use VPN)
  • βœ“Consider dedicated device or browser profile for trading
  • βœ“Enable screen lock (biometric recommended)

πŸ’‘ Recommendations

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Asset Distribution

Recommended

Don't keep all assets in one place. Distribute for safety.

  • βœ“Keep only trading funds on exchanges
  • βœ“Move long-term holdings to hardware wallets (Ledger, Trezor)
  • βœ“Distribute across multiple exchanges
  • βœ“Manage hot/cold wallet ratio (e.g., 20%/80%)
  • βœ“Store seed phrases offline securely

❓ FAQ

What happens to my assets if an exchange is hacked?β–Ό
Major exchanges have insurance funds to compensate hack victims. However, there's no 100% guarantee, so store large amounts in hardware wallets.
What if I lose my 2FA app?β–Ό
You can recover using backup codes saved during setup. Without backup codes, contact exchange support for identity verification and reset.
Do I really need a hardware wallet?β–Ό
For small amounts, exchange storage is fine. For larger amounts ($10,000+), hardware wallets are strongly recommended.