How Utorg fights for User security and privacy

How to securely protect funds on the exchange with 2 Factor Authorization. website has conducted a security study and discovered that: only 4% of cryptocurrency exchanges have reliable security systems. According to the study, more than half or 54% of the digital asset trading sites have serious security flaws, putting the majority of  crypto exchange customers at constant risk.

One of the important tools to protect access to your money and personal information is two-factor authorization (or 2FA for short). We recommend, that you immediately protect all your accounts with two-factor authorization.

What is two-factor authorization?

Two-factor authentication is a method of authorization using two different factors: something you know (username/password) and something you have: a 6 digit code generator on your smartphone. If you ever dealt with banks, you surely have come across this method of protection. 

It workds like this: You enter your username and password, and if they are correct, you are asked to enter an additional security code, which will be sent to you by mail or SMS.

But is not always necessary to wait until you receive a message. There are applications that generate a unique code for you and update it every 30 seconds. To set up the application you must login to your account, and go to profile settings/security and click the enable two-factor authorization. You will be asked to install a 2FA application from your smartphone app store. Afterwards you will need to scan the QR code provided by the service you wish to protect, and as soon as you do that - your smartphone will start generating 6-digit codes and updating them every 30 seconds. Now you would need to enter your 6-digit code into the appropriate field for the first time to test if it works properly. This method is much safer than an SMS, as it can not be intercepted, and the hacker has only 30 seconds to confirm, after which the 6-digit code will be updated to a new one.

How to use 2FA? 

On all important actions such as login, info change, withdrawal, etc. the system will ask for confirmation 6-digit code generated on the smartphone. Now, even if your password becomes known to attackers, they will not be able to use the stolen data, as to confirm the transaction, you will need a new 6-digit code from your mobile phone.

Is 2FA secure?

2FA authorization reduces your vulnerability to hacking into an account or identity theft. Jim Fenton, director of security for OneID, says that "using 2FA you make most of the risks of hacking impossible."

Hackers will no longer have enough personal data, obtained by software vulnerabilities or the Internet. They will require physical access to your mobile phone, which seriously complicates the hacking process.

Spend two minutes for your safety

When it comes to finances, security of your personal data is especially important. Utorg takes care of  customers by protecting them from network risks - hacker attacks, data theft, system errors. 

However, to be protected you need to spend only 1-2 minutes to set up 2FA  - which is less than it takes you to drink your morning coffee, but on the other hand, it will ensure complete safety and security of your digital and fiat accounts.