3 Tips to Protect Your Bitcoin & Crypto Assets: From the Binance Customer Support Team

We’re user-obsessed at Binance. Everything we do, we do to provide quality service and great user experience. Our Customer Support team shoulders important responsibilities in helping improve general safety awareness among our users and promoting safety measures for protecting your assets. 

Binance currently supports over 15 million users across 180 countries and regions via 24/7 live customer support in eight languages, and our team members come from diverse professional and cultural backgrounds. 

We train every support agent in-house, to ensure that everyone has the first-hand experience with all Binance products and services and maintains close communication with the rest of our teams. They regularly share your feedback with the product and risk control teams at Binance, so that we’re able to respond dynamically to requests and constantly be improving your user experience. Without your feedback and open communication, we wouldn’t be where we are today. 

Prevention is better than a cure.

Our users experience a wide variety of situations that come through to the Customer Support desk; some cases are simple user guidance or functionality troubleshooting, while others might concern phishing attacks, potential loss of funds, or identity theft. For these more severe cases, knowing how to protect yourself and prevent these attacks is crucial.

The same principles of privacy, censorship-resistance, and decentralization that make cryptocurrencies attractive to you, also make it appealing to malicious actors. With cryptocurrencies, it’s also easier to make a costly mistake if you accidentally deposit it to an incorrect address. 

Here are some of the most common customer support cases that you can avoid by staying informed and aware, as well as suggestions from our team to better protect yourself and your assets.

1. Impersonation

In this type of attack, the attacker usually impersonates a trading expert, customer support agent, or cryptocurrency influencer, with the intent to obtain your login details and personal information in order to steal funds. You should never send your crypto to any unverified addresses. 

Remember: Binance support agents will never ask for your login password or request funds from you. Keep your personal information confidential, be careful about clicking any non-secure links, and do not share your login details with any third-party, trading services, or experts. 

2. Unsecure API

If you’re a trader, you’re friendly with the term API. An application programming interface (API) is a code that allows two applications to share information, and Binance offers a wide range of secure APIs. APIs from third-party sources, however, can be infected or contain security holes, resulting in loss of funds or account theft. Using a third-party service can unintentionally leak your account information or API Key, allowing the hacker to illegally transfer your funds through a reverse transaction.

Remember: Do not use APIs or plug-ins from unknown sources or unverified third-parties. Only use APIs that have a secure connection and come from a verified, trusted source. 

3. Deposit issues

We all know the nervousness when making cryptocurrency transactions. Some of the most common deposit issues include:

  • Incorrect crypto addresses, i.e., sending BTC to ETH address
  • Deposits of unsupported or de-listed cryptocurrency
  • Confusion between two cryptos with the same name
  • Incorrect or forgotten memos or labels when depositing label tokens
  • Deposit addresses tampered by malicious software

To help prevent these issues, we offer whitelisting and labeling features, which allow you to create a list of trusted addresses or give a name to individual addresses.

Remember: Always ensure that you’re depositing a supported cryptocurrency and using the correct ticker. Always double-check the deposit address before making the transaction. Enable whitelist, labeling, and two-step withdrawal authentication. 

Stay in charge of your security.

Thanks to our highest security standards and dedicated teams working 24/7, we can protect users against a wide array of attacks. Reach out to Binance Customer Support for any of these cases and our team will provide support promptly. In many cases, Binance is able to help you prevent or even recover certain losses, however, the weakest link in security is still the user himself/herself and users should take precautionary measures to the extent possible. 

To minimize risks and improve your safety, we recommend that you continuously read about and seek new knowledge on further security measures you can adopt. The best time to start was yesterday; the second-best time is now. Learn how to Secure Your Binance Account in 7 Simple Steps or check out 5 Security Tips From the Pros to protect your crypto.

Binance will continue to safeguard your funds. Confirm the legitimacy of any Binance email, domain, or contact, by using Binance Verify.

Look out for fraudulent behaviors and contact Binance Customer Support through our official channels in a timely manner, anytime you have a question or concern. We’re here to help.