Binance Tighten Ship With Security Keys

Binance Tighten Ship With Security Keys

Pioneering exchange platform, Binance have announced they will be incorporating Security Keys, alongside their existing measures, in order to maximise security.

The security keys are the latest addition to the new-look Binance site. The two-factor authentication process will work alongside their existing SMS and Google Authenticator and hopes to provide a more secure system for verifying actions on user’s Binance accounts. The service is already live and available on both the Binance desktop and mobile site but not the Binance app just yet.

According to the blog post announcing the news, the 2FA ability will work in harmony with other crypto services on the market, such as YubiKey and Trezor. As such, if you own one of these then you can immediately plug it in and start benefiting from the new security service.

If you are unfamiliar with how the security keys work, then it is very simple. If you are already a user of Binance, you will be familiar with their existing authentication process. Whereby you will be sent a 6-digit number to your phone or email which you use to verify yourself when accessing your account. With a security key, you will plug the device into your computer’s USB or Type-C port when prompted which will confirm the legitimacy of your transactions.

Binance has listed three separate reasons that make this an appealing feature for users, more tangible security, anti-phishing and exclusivity. All of which promise to provide the user belt and braces security.

Of course, the incorporating of this latest feature comes just two months after Binance suffered a major hack by a still unidentified hacker to the tune of 7000 bitcoin. Valued at the time to be worth over $40 million this would be worth even more by today’s prices.

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