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Topic
Board Beginners & Help
Merits 1 from 1 user
Re: My 7 years of experience with CEXs (4 years on Bitcointalk)
by
Oshosondy
on 13/06/2023, 10:59:23 UTC
⭐ Merited by Ratimov (1)
I recommend using 2FA and email to work with the exchange. This set is enough to work with all popular exchanges. And do not forget to save and duplicate the 2FA key, because if you lose it and want to restore it, you will fall into 9 circles of hell of communication with technical support, and in this case you will also be forced to undergo KYC.
2FA is very important to be used for exchange accounts, only password is not enough. But the 2FA app should be on a different device while your exchange accounts should be on a different device.

2FA that synchronize with online as backup are not secure like those you will backup offline. People that are using online backup 2FA should know the risk. I will not point anyone to use online ones like Google and Authy authenticators.

If you try to enter the exchange from a new IP and withdraw your entire balance, then there is a very high chance that you may be blocked and forced to undergo KYC. Do not use free VPNs and cheap proxies for those exchanges where you have funds, keep your accounts and privacy much longer. People themselves provoke exchanges to additional checks, and then complain that exchanges suddenly introduce KYC for their account.
I do not know about other countries, but IP address in my country use to change. Assuming you login again after some days or weeks or months after not login into your exchange account, do not be surprised if an email is sent you that a login from a different IP is detected.

- If you buy a verified account, then select a choice similar to your geolocation and country. It will be very strange if you buy some account from Bangladesh, and you yourself will sit from a computer in the euro zone.
This is one of the reasons I see no reason of buying an exchange account because you can easily create one for your self. People that I think will make use of bought account are either no allowed to use crypto or the exchange in their country or people that have online criminal act.