{"id":6091,"date":"2018-05-30T00:00:00","date_gmt":"2018-05-30T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2018\/05\/30\/verification-cryptocurrency-exchanges-harder\/"},"modified":"2018-05-30T00:00:00","modified_gmt":"2018-05-30T00:00:00","slug":"verification-cryptocurrency-exchanges-harder","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/verification-cryptocurrency-exchanges-harder\/","title":{"rendered":"Verification In Cryptocurrency Exchanges Is Getting Harder"},"content":{"rendered":"
Earlier in the days when digital currencies were unknown to most people, logging into an exchange was as simple as keying in your email and password. But these days, with the ever present threat of hacks, exchanges are going the extra mile to stay ahead of hackers and protect the account of users.<\/p>\n
Users are progressively experiencing that the days of easy access to their accounts on exchanges is well over. Some exchanges that had straightforward logging in procedures years ago now require more elaborate processes to access accounts.<\/strong> Today, the minimum verification process needed in all exchanges is the 2-factor authentication, but that doesn\u2019t even seem enough anymore as more stringent and elaborate measures are put in place to avoid security breach.<\/p>\n The measures these exchanges have adopted are mainly targeted at spam and bots deterrence knowing that even though the technology that makes bots imitate humans has advanced, it still has limitations. Another reason for these precautions on the part of exchanges is to be protected against legal actions.<\/p>\n Binance<\/a> <\/strong>has implemented a \u201cfix the puzzle\u201d verification process, in which the user needed to do exactly that (arranging a puzzle correctly) before access is given to log in, a situations which has led to several complaints that keeps the customer support busier than usual as they attend to users that couldn\u2019t fix the puzzle. But unless you are a robot it is solved very easily.<\/span><\/span><\/p>\n <\/p>\n Kucoin, a few weeks ago commenced asking a set of predetermined questions that users must give answers to whenever they log in, making many traders annoyed at the repeated cycle of questions. Nevertheless, most of them seem to have resigned to the fact that it is a necessary step in securing their digital currencies at the exchange.<\/p>\nBinance<\/h2>\n
Kucoin<\/h2>\n
Bittrex<\/h2>\n