How does providing a phone number enhance the security of cryptocurrency transactions?

3 answers

• Sergey AndreenkoMar 04, 2024 · a year ago
  Providing a phone number enhances the security of cryptocurrency transactions by adding an extra layer of verification. When you link your phone number to your cryptocurrency account, it allows the platform to send you SMS notifications for any suspicious activities or login attempts. This way, you can quickly take action if someone tries to access your account without your permission. It also helps in recovering your account in case you forget your password or lose access to your email. Overall, providing a phone number helps in preventing unauthorized access and ensures that you have better control over your cryptocurrency assets.
  640

  320
• Alexs EnderJan 20, 2025 · 6 months ago
  Adding a phone number to your cryptocurrency account is like having a backup security measure. It provides an additional verification step, making it harder for hackers to gain unauthorized access to your account. By receiving SMS notifications for any account activity, you can stay informed about potential security breaches and take immediate action. Additionally, it helps in account recovery, as you can verify your identity through your phone number if you forget your password or encounter any login issues. So, providing a phone number is a simple yet effective way to enhance the security of your cryptocurrency transactions.
  634

  212
• LsqtestNov 04, 2020 · 5 years ago
  At BYDFi, we highly recommend providing a phone number for enhanced security in cryptocurrency transactions. It not only adds an extra layer of protection but also enables us to send you important security alerts and notifications. With your phone number linked to your account, you can receive real-time SMS updates about any suspicious activities or attempts to access your account. This way, you can take immediate action to secure your funds and prevent any potential loss. So, don't underestimate the importance of providing a phone number for a safer and more secure cryptocurrency trading experience.
  607

  152