ProBit Exchange understands how security is an important consideration for cryptocurrency traders in selecting their platform of choice. For this reason, ProBit places priority in ensuring that only a highly reliable Coin-to-Coin (C2C) exchange platform is offered to its users. ProBit’s trading environment is characterized by solid security using key features and protocols that give its users peace of mind in storing and trading a wide range of digital assets on the exchange.
Cold Wallet Storage
More than 95% of ProBit digital assets are stored in cold wallets. Cold wallets are a form of offline storage which makes them less vulnerable from security breaches of online theft. Since these wallets are not connected to the internet, they are ultimately secured from hackers trying to access accounts via the internet. In addition, ProBit’s data, particularly private information and wallet keys, are encoded multiple times using a strong encryption algorithm.
While most of user assets are securely stored and safe from hackers in the cold wallet, they are able to proceed with their usual trading transactions conveniently with only some of their digital assets in the online wallet. And because only a small portion of digital assets are stored online, it does not attract attention from online thieves as the hacking resources needed outweigh the overall gains.
Hardware Security Keys
ProBit supports two-factor hardware security keys as an added layer of defense against hackers. Two-factor authentication requires both login credentials such as username and password, and a physical item that only the user has. For ProBit users who choose to adopt U2F, they will need the typical login information when signing in to the trading environment, plus the U2F USB hardware device.
As Universal 2nd Factor (U2F) - which uses USB and NFC technology - is supported by ProBit, software-based two-factor authentication (2FA) such as Google Authenticator may also be used. These security standard specifications are hosted by the open-authentication industry consortium known as the FIDO Alliance.
Having FIDO U2F hardware security keys provides added protection against session hijacking and phishing among other online attacks, without adding complication to how users usually log on to typical websites. The U2F technology has been deployed to the most commonly used browsers, and enables instant authentication without the need to write additional codes or install ad hoc drivers.
Standard Security Protocols
ProBit deploys standard security protocols and practices to its trading environment. First, session management ensures that access is available only when needed and session hijacks are prevented as the platform initiates time outs when inactivity for an extended period of time is detected.
Second, you will notice that HTTPS is seen on the URL link upon login wherever you go on the platform. The use of HTTPS proves that secure sockets layer (SSL) certificate has been installed on ProBit’s server and ensures that any information, particularly sensitive ones, are communicated to the user’s client server or web browser over an encrypted link. This way, when login or trade order information is passed on between the user and ProBit, these are transmitted securely and are not susceptible to hackers interested in making use of the information.
With these security features and protocols, ProBit ensures each of its users that they are trading in a completely secure environment where they may simply focus on their winning trading strategies without worrying about getting hacked.
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