Security is one of the foremost concerns for any trader looking for a trading platform. Read on to know if Crypto1Capital fits the security bill.
Crypto1Capital Review – Are You and Your Funds Secure with Crypto1Capital?
When picking a broker for your investment journey, the safety of your information and funds should arguably be the most important consideration.
The internet is full of trading and investment apps and online brokers, but not everyone offers the same degree of security, which makes it hard to determine if your chosen platform will provide you with the security and protection that you are looking for. Even website reviews and comparisons hardly ever shed light on the security aspect of an online brokerage, which does not help matters.
For this reason, this particular review article will talk about the security features and elements included in one of the leading trading and investment brokers in the country, Crypto1Capital.
Crypto1Capital – Security Features:
Two-Factor Authentication:
As the name suggests, two-factor authentication enhances your security by adding a second protective layer. An example of two-factor authentication is when you try signing into a platform and the platform sends an OTP (One-Time Password) to your phone and requires you to enter this password before completing the sign-in process.
Alongside logins, Crypto1Capital allows two-factor authentication to be implemented for other aspects such as deposits, withdrawals, completing buy/sell orders, or linking another account to the trading application.
The absence of two-factor authentication makes you extremely vulnerable to cyber attacks, since a hacker or a cyber-criminal would only need to get their hands on your password in order to enter your trading account, obtain sensitive information, and wipe all your funds out. They could also sell whatever assets you own, and transfer the proceeds into their own account – especially if there is no proper mechanism for withdrawal requests.
Another, related aspect which makes Crypto1Capital secure is the fact that it rejects any weak or vulnerable passwords during the account-creation phase. Users are required to create passwords that include a combination of lower-case letters, upper-case letters, numbers, and special characters or symbols.
Account Immobilization:
Crypto1Capital automatically immobilizes (freezes) your account after multiple unsuccessful login attempts. This is because unsuccessful attempts could be a sign that someone without access to your credentials is trying to sign in to your trading account. This could include hackers seeing if they can get lucky, or a cyber-criminal trying to execute a brute-force attack.
If your account has been immobilized, you can regain access by entering the OTP sent to your registered mobile number, or reaching out to Crypto1Capital’s customer service department.
Risk-Management Features and Tools:
Another way that a good trading platform should keep you secure is by equipping you with the tools required to manage your online trading risks.
Crypto1Capital offers a number of such tools, including limit orders and stop-loss orders. A stop-loss order is particularly important, and one that we recommend every trader to utilize. This is a risk-management tool where you establish a floor price for your stock; once the stock value goes below this price, the app automatically sells your shares. This allows you to cut your losses and salvage your capital.
Biometrics:
Crypto1Capital further shores up its clients’ safety by providing multiple biometric features namely fingerprint recognition, iris recognition, and facial recognition.
Besides, instead of having to remember and type out your password each time you want to log in, you can simply use one of these biometric sign in options.
Wrapping Up:
To sum up, we would like to emphasize the importance of safety and security while trading, and that it is not something that should be compromised upon. The above and other security measures implemented by Crypto1Capital make it one of the safest and most reliable trading platforms for all types and levels of traders.
To know more about how Crypto1Capital ensures its clients’ security, please feel free to visit the platform’s website.
