How do I secure my Bitvavo account?
Cryptocurrencies are constantly rising in value and hackers are also trying to benefit from this development. It is therefore wise to secure your Bitvavo account as much as possible. In this article, we will discuss how you can protect your Bitvavo account in 5 steps.
Step 1: choose a good password
Without a password, it is not possible to access your account. It is therefore important to choose a strong password that is hard to guess. Select a password with many characters and use a combination of letters, numbers and symbols. Don’t let the password refer to something meaningful (like your birthday) and choose a unique password that you don’t use on any other website. By choosing a good password, you reduce the chance of hacks.
Step 2: secure your email address
Bitvavo uses your email address to send you confirmation links when a login attempt is suspicious. It is therefore important to secure your email address properly. Make sure your email address is well protected and check regularly if it has been hacked. On this website you can immediately see if hackers have succeeded in cracking the password of your account.
Step 3: two-factor authentication
Of course, you want to prevent hackers from gaining access to your account. A good way to reduce this risk is to set up 2FA authentication. With 2FA, in addition to your password, you have to enter a unique code that is generated on your mobile phone.
Within the settings of your Bitvavo account, you can easily enable this option. You can generate the code with the free Google Authenticator application. It is important to save the recovery code somewhere safe. With the recovery code, you will still be able to access your account when you lose your mobile phone.
Step 4: Protect yourself against phishing
Hackers also try to access your Bitvavo account through fake emails. You can set a unique code within Bitvavo which will allow you to recognize e-mails from Bitvavo immediately. The emails from Bitvavo will subsequentially be signed with this unique code.
Step 5: Withdraw your cryptos
As long as your cryptos are stored on an exchange, they will never be 100% safe. You can therefore store a part of your cryptos in a so-called cold wallet. A cold wallet is not connected to the internet, which means hackers won’t be able to get access to it. However, it is important to hide the cold wallet well, since people can still physically steal it.
You can easily withdraw your cryptos at Bitvavo to a wallet. Do you want to read in detail how this works? Then read our article about wallets at Bitvavo.
Is your account 100% safe?
Unfortunately, it is not possible to secure your Bitvavo account 100%. However, by following the steps in this article, you can significantly reduce the risk of a hack.
When you invest large amounts of money, it is wise to spread your risk by using different wallets. This makes it impossible to lose all your cryptos in one single hack.