ACQUISITION AND STORAGE OF CRYPTOCURRENCIES

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Before registering on any cryptocurrency exchange, it is worth to read its regulations. Many people do not pay attention to this importance, although understanding the content is often able to save unpleasant consequences in the future. It is at least worth checking whether the regulations mention the legal entity that represents the website (you can still find cryptocurrency websites (though less and less often – exchanges) that are not operated by any legal entity registered anywhere), and in which jurisdiction it is located.  If the stock market operates in the US, EU or other more reliable countries (e.g. Japan, Australia) – the potential for fraud is smaller, although there is still a risk. For example, if it is Hong Kong, the costs of a possible lawsuit from Poland may exceed the potential scale of losses resulting from the fraudulent activities of the stock exchange authorities.

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Security on the stock exchanges

When using cryptocurrency  coinbase login exchanges, we must remember to be careful and protect ourselves against any unwanted third party access to our account. This applies to both hackers and people who will own a computer that belongs to us.

It is worth paying attention to three aspects regarding the security of our account on the cryptocurrency exchange:

Two-factor verification (the so-called 2FA) – account access authentication consisting of two stages: the first, when we give the username and password, and the second, during which we enter the code to which only we have access. This code can be obtained from a special application, e.g. Google Authenticator. Another, though considered less secure, the way is to get it by SMS or email. Such authentication may apply not only to access to the account but also to withdrawals of cryptocurrencies and fiduciary currencies off the exchange or changes in login details.