Binance Coin (BNC) is the cryptocurrency token used to trade and pay fees on the Binance cryptocurrency exchange. With more than 1.4 million transactions per second, Binance has become the largest cryptocurrency exchange in the world. It was created in July 2017 and was originally based on the Ethereum block chain before it became the native currency of Binance’s own block chain called Binance Chain.
In today’s pervasive culture of hacking and security breaches, it is of paramount importance to protect an individual’s financial fund like Binance Coin. Protective security tools like Yubikey are the solutions for this kind of problem. Created by Yubico, Yubikey provides an additional layer of security with a two-factor authentication that is activated when logging into one’s account, withdrawing funds and resetting passwords.
Yubikey has a variety of security models like the YubiKey 5 Nano to help safeguard your Binance account. These include:
Yubikey 5 Series
With a multi-protocol security key, the Yubikey 5 Series eliminates account takeovers with a combination of two-factor authentication, multi-factor authentication, passwordless authentication and touch-to-sign features. One prominent example is the Yubikey 5C NFC that is used to secure online accounts for your Binance Coin on all devices such as desktop and mobile.
Yubikey Bio Series
In order to provide an elevated user experience, Yubikey has established its Yubikey Bio Series. With an intention of catering to those who manage their Binance transactions on their desktops, this product offers secure passwordless and second-factor logins that are designed to offer strong biometric authentication options.
To have a more user-friendly experience, you can specifically try the Yubikey 5CI that caters to intuitive user experience and fast setup, deployment and use. This also reduces helpdesk tickets for password resets or account lockouts.
Yubikey FIPS Series
As a hardware security key, the Yubikey FIPS Series offers multiple authentication and cryptographic protocols. It can also support passwordless secure login with smart card and FIDO2/WebAuth authentication. This ensures that your Binance account is protected across major operating systems that include Microsoft Windows, MacOS, Android and Linux. Extending its features, the Yubikey FIPS Series is IP68-rated, crush-resistant, does not require batteries and has no moving parts.
If you’re using different web services to track and manage your Binance Coin, you can opt for the Yubico Security Key NFC because it is specifically designed to fit with popular web services. For instant and easy checking of your Binance coin, you can try the Yubico U2F Security Key, which is a new secure two-factor authentication device that is designed to allow users to immediately login to U2F-supported online services.
How to Set Up Your Yubikey on Binance
With a variety of security features, a Yubikey security key guarantees a safe and secured Binance transaction, but how does one really integrate a security key like Yubikey on his or her Binance Account? Here we enumerate easy-to-follow steps to make sure that you are totally secured when managing your Binance Coins.
Step 1 - Log in to your Binance Account. After logging in, go to the Profile button that is located in the top right corner. When the dropdown menu opens, click on “Security”. After that, click “setup” to start the process.
Step 2 - Read and understand the note carefully and if you agree, just click “Continue anyway”.
Step 3 - The next step will require you to insert your Yubikey and activate it. This is done by inserting the Yubikey into an available USB port and touching its button within 60 seconds. You can try again if the time is up.
Step 4 - Click “allow” if you receive a message.
Step 5 - You can name or label your Yubikey, but this step is optional. When ready, click “Verify your account”.
Step 6 - Verify your Yubikey with your other 2FA Verification codes.
Step 7 - Your Binance account is now secured by a Yubikey.
Takeaway
With the advent of new currencies that are surfacing in the global market comes the rise of hacking and phishing incidents. Securing your financial accounts like Binance using a traditional password that is either stored on your mental note or sticky notes in your desk is not enough. You should opt for a physical security key that you can keep or store in areas that are easy to remember. That is why investing in protective devices like Yubikey is the right thing to do.
Manufactured by Yubico, this hardware authentication device has new and modern strategies in safeguarding your Binance account as you skillfully navigate the global business market. To learn more about other Yubico products, call +63 2 8858 555.
