There’s one thing that’s better than trading with ease and that is trading with peace of mind. Security is at the heart of everything we do at Bitfinex, and we want to ensure you are in the best position to protect your account and funds . Whether you’re a seasoned trader or just starting, taking the right steps can help you keep your funds safe from cyber threats and phishing attempts. How Bitfinex Keeps Your Account Secure 1. Cold Storage & Multi-Layered Security Cold Wallets: We store 99.5% of user funds in offline, multisignature wallets, keeping assets away from online threats. Hot Wallets: Only 0.5% of crypto assets are accessible in hot wallets for daily platform operations. Multi-Signature Security: Our cold storage requires the approval of all transactions via three of five hardware security modules (HSMs) held by internationally dispersed management team members, ensuring that no single person can access or withdraw funds alone. 2. Defense Against Cyber Threats & Fraud DDoS Protection: Our platform includes intelligent load balancing and real-time malicious traffic detection to ensure uptime even during high-risk events. AI-Driven Fraud Monitoring: We employ advanced systems to detect unusual activity and block unauthorized access. Regular Security Audits: Our security team conducts routine external security audits to maintain a fundamentally hostile environment for any potential incursions. 3. Security Upgrades & Best Practices Up-to-Date Systems: We maintain always up-to-date Linux systems to host the platform, ensuring protection using the best security practices. Constant Monitoring: The platform is continually monitored, updated, and strengthened to stay ahead of emerging threats. What You Can Do to Stay Secure Enable Two-Factor Authentication (2FA) – No Excuses! Set up hardware or software 2FA: These methods add an extra layer of security for logging in, generating API keys, and making withdrawals. We support both 2FA apps, and hardware security keys. Additionally, hardware keys can be configured with withdrawal and trade permissions. Get Your Account Verified – More Security, Less Hassle Easier Account Recovery: Verification simplifies the process if you ever lose access. Reduced Withdrawal Restrictions: Enjoy faster dispute resolution and fewer limitations. Protection from Impersonation: Verification safeguards you from impersonation attempts Set Up Withdrawal Protections Enable Withdrawal Whitelisting: Restrict withdrawals to trusted addresses only. Waiting Period for New Addresses: New withdrawal addresses undergo a waiting period as an added security measure. Behavioral Monitoring: Our security system monitors withdrawals by IP address and user behavior, triggering inspections for unusual activity. Keep an Eye on Account Access Regular Login History Checks: Review your login history regularly; if something looks off, act promptly. Set Up Alerts: Enable email for logins and withdrawals. IP Address Restrictions: For advanced users with a static IP, restrict account access to specific IP addresses to prevent unauthorized logins. Instant Account Freeze: If you spot suspicious activity, you can instantly freeze your account via email notifications to Bitfinex Support. Secure Your Email & Password Use a Unique, Strong Password: Employ a password manager to generate and store complex passwords. Enable 2FA on Your Email: This prevents hackers from resetting your credentials. Beware of Scams: Bitfinex will never ask for your password. If someone does, it’s a scam. Use Advanced API Key Permissions (For API Users) Customize API Keys: Set advanced read/write permissions for specific features. Limit Access: Enhance security when using automated trading or integrations by limiting API key access to whitelisted IP addresses. Secure Usage: Take full advantage of Bitfinex’s REST and WebSockets APIs. Use your private API keys to securely authenticate requests such as creating orders, viewing balances and more. Learn more about our API features here Learn more about our comprehensive security features here The best time to secure your account? Yesterday. The next best time? Right now. Take a few minutes to review and update your security settings! Your Security is our Priority! Review your Security The post Lock Down Your Crypto: The Ultimate Security Checklist for Bitfinex Traders appeared first on Bitfinex blog .
