4 Critical Tools to Enhance the Security of Your Binance Account

2024-06-20

Main Takeaways

  • Using apps like Google Authenticator and Binance Authenticator significantly boosts your account’s security by requiring more than just a password for access.

  • Leveraging advanced tools such as passkeys, security keys, and multi-validator verification can provide additional layers of security. 

  • Regularly review your security settings and account activity. Stay updated on the latest security features and best practices shared on Binance Blog, Binance Academy, and our Support Center.

The rise of cryptocurrencies has offered many benefits to users worldwide. However, they have also brought a corresponding rise in security threats due to misuse by bad actors. From phishing attacks to breaches of major exchanges, these risks continue to evolve. Thus, taking extra steps to ensure the security of your Binance account is crucial to protecting your digital assets and personal information.

Binance is deeply committed to safeguarding its users' funds and personal data. As such, we employ advanced security measures and continually update our protocols to combat the latest security threats. Simultaneously, user vigilance remains critical to safeguarding the ecosystem. This article will explore four essential tools to enhance the security of your Binance account, offering useful advice for you to stay safe in the complex world of crypto.

1. Authenticator Apps

Google Authenticator

Authenticator apps like Google Authenticator help enhance your account’s security by adding an extra layer of protection through two-factor authentication (2FA). It generates time-based, one-time passcodes that change every 30 seconds. By enabling Google Authenticator, you significantly reduce the risk of unauthorized access, even if someone has obtained your password.

How to enable Google Authenticator

1. Download the Google Authenticator app on your mobile device.*

*Please use Google Authenticator without linking it to a Google account, as doing so reduces the risk posed by potential Google account compromises. You can skip the account linking process during setup. Or, click on the account icon in the top right corner, select [Use without an account], and click [Continue] to disable account linking.

2. Log into your Binance account and navigate to the [Account] - [Security] tab.

If using your phone, log in to the Binance app and go to [Account Center]. Then, tap the profile section at the top and go to [Security].

3. Within the [Two-Factor Authentication]- [Authenticator App] section, click [Manage].

4. Click [Enable] on the [Authenticator App] page to start.

5. Scan the QR code displayed on Binance with your Google Authenticator app.

You can also tap [Copy] on the 16-digit setup key and paste it into your Google Authenticator app or enter it manually.

6. Enter the generated code from the app to verify and enable 2FA.

For more information, please read the following guide: How to Enable Google Authenticator for 2FA on the Binance App?

Binance Authenticator

Binance Authenticator offers similar functionality to Google Authenticator but is integrated directly into the Binance ecosystem. This helps ensure that users have tools specifically designed for their trading activities.

How to enable Binance Authenticator

1. Log into your Binance account and go to the [Account] - [Security] tab.

If using your phone, log in to the Binance app and go to [Account Center]. Then, tap the profile section at the top and go to [Security].

2. Within the [Two-Factor Authentication]- [Authenticator App] section, click [Manage].

3. Follow the instructions to download the Binance Authenticator app.

4. Click [Enable] on the [Authenticator App] page to start. 

5. Link your Binance account by scanning the QR code provided or manually entering the key.

6. Enter the code generated by the Binance Authenticator app to confirm the setup.

For more information, please read the following guide: How to Use Binance Authenticator for 2FA With Your Binance Account and App.

2. Passkeys

Passkeys are an advanced security feature that simplifies logins while making them more secure. By leveraging public-key cryptography to link your account with a trusted device, they enable passwordless logins. Passkeys provide a safer, more convenient login experience by removing the reliance on traditional passwords, which suffer from various vulnerabilities.

How to enable passkeys

1. Log in to your Binance app and go to [Account Center]. Tap the profile section at the top and go to [Security].

2. Within the [Two-Factor Authentication] section, choose [Passkeys].

3. Click [Add Passkey] on the [Passkeys] page to start. 

4. Follow the prompts to connect a trusted device, such as your smartphone or YubiKey.

5. Verify your identity through biometric scanning or another secure method on the trusted device.

For more information, please read the following guide: How to Create a Passkey for My Binance Account?

3. Security keys

Security keys are a hardware-based security measure that ensures only someone with the physical key can access your account, providing an additional layer of security. They provide robust protection against phishing and other attacks by requiring physical access to the key for login.

How to use a security key with Binance

1. Purchase a security key from an official retailer.

2. Log into your Binance account and go to the [Account] - [Security] tab. If you’re on your mobile phone, log in to the Binance app and go to [Account Center]. Then, tap the profile section at the top and go to [Security].

3. Within the [Two-Factor Authentication] section, choose [Passkeys].

4. Click [Add Passkey] on the [Passkeys] page and select [Other Sign-In Options].

5. Select [Security key] and click [Continue].

6. Insert your security key into the USB port of your computer or mobile device. If you have an NFC key, hold it near the sensors of your mobile device.

7. Follow the onscreen instructions to verify and link your security key.

4. Multi-validator verification 

Multi-validator is a powerful security feature that requires multiple parties to approve transactions before they are executed. This additional verification layer can protect against unauthorized transactions, which is particularly useful for high-value transactions, such as withdrawals.

*Multi-validator is only available for whitelisted users. It will be open to all institutional users by the end of July, so stay tuned for updates. Feel free to contact your VIP Account Manager to get whitelisted to enable the multi-validator feature.

For more information, please read the following guide: How to Create and Access Custom Login Accounts.

How to enable multi-validator verification

1. On the Custom Login page, click [+ Other Roles Account].

a. Please note the following:

i: You can only create up to five approval role accounts.

ii: The multi-validator verification is enabled by default once an approval role is created.

2. Select [Approval role] for the account and enter a password. Click [Create Account].

How to verify a withdrawal request

For the withdrawal initiator:

1. After a withdrawal has been initiated, you’ll see a security verification pop-up. Click [Multi-validator Verification].

2. Wait for the approvers to approve your request. After the minimum required approvals have been met, click [Confirm] to continue.

For the approver:*

1. All approvers will receive a push notification on their Binance app once a withdrawal request is initiated. 

2. Log in to your Binance account, and you will see the details of this withdrawal request. 

3. If you want to approve the withdrawal request, tap [Yes] to approve.

*Please note that the approval process is currently only supported on the Binance app. Approvers must log in to their Binance account to approve the request.

Enabling a multi-validator provides a high level of security by ensuring that no single individual can perform transactions unilaterally. This feature is particularly beneficial for institutional accounts or personal accounts with substantial holdings, offering peace of mind that multiple parties must agree before any changes or transfers can occur.

Stay Vigilant and Informed

In the rapidly evolving world of cryptocurrency, securing your Binance account is of the utmost importance. By enabling multi-layered authentication methods such as authenticator apps, passkeys, security keys, and multi-validators, you can significantly mitigate the risk of bad actors gaining unauthorized access to your account.

Additionally, staying informed through Binance’s educational resources, including Binance’s Blog and Academy channels, as well as the Binance Square account “Binance Risk Sniper,” empowers you with the best practices to follow to optimize your account’s security, such as regularly checking login records and connected devices. 

Taking these proactive steps not only protects your assets but also contributes to the overall trust and security of the crypto ecosystem. Stay vigilant and informed to ensure your trading experience remains safe and secure.

Further Readings

210,685,160 users chose us. Find out why today.
Register Now