Security is essential when investing, so we have some suggestions to help you better protect your assets.
Use two-factor authentication
Two-factor authentification is the most significant upgrade you can make for your account security.
It enables additional security measures which generate a new code for you to enter on your chosen device each time you log in.
Read more: Set up two-factor authentication.
Check for updates
Security starts with your device. Check your computer has up-to-date anti-virus.
We also recommend regularly updating your browsers, hardware, and software to ensure you're using the most recent versions to benefit from the best possible protection.
Read more: How to update the Swyftx app or web platform.
Update your passwords
Use a secure password that is unique from other services you use.
Swyftx enforces a password policy; however, you are ultimately responsible for your passwords' sensibility.
The best, most secure password would contain up to 15-20 characters.
Consider that using phrases or easily identifiable words associated with your personal life could be risky.
Your password should ideally contain upper and lowercase characters, symbols, and numbers.
Review the URL and think twice before clicking links
Always check that the URL you are visiting is a genuine Swyftx site.
For example, if you're visiting the site from Australia, it will redirect to https://swyftx.com/au/.
You can confirm this is the right site, as it will show a closed lock icon in the URL bar, usually on the left side of the URL.
Do not send tokens or coins to 'free giveaways' or 'once in a lifetime ICO' offers. Do your own research.
Validate any competitions Swyftx is hosting with our team via live chat. The team at Swyftx is aware of all competitions and will be able to validate this for you.
Review emails closely
Be careful to avoid clicking links in emails that may appear to be from Swyftx but are not. Check the sender address and make sure it matches @swyftx.com.au.
Read more: Suspicious emails: Recognize and report.
Our wide range of security practices
Swyftx has a robust security framework in place that ensures we are providing our customers with the ability to trade crypto in a safe environment.
Swyftx takes the security of our platform very seriously, using features such as:
- using JWT tokens and session expiry
- offering 2FA account protection
- checking for breached passwords on other websites
- consulting with third-party security auditors
- undergoing external penetration testing
- implementing a least privileges security model internally
- 'Know Your Customer' (KYC) and customer account verification
How we protect our customers from scams and fraud
Fraud and scams are issues that affect the crypto industry specifically due to the irreversible nature of transactions over the blockchain.
We combat these issues by running 24/7 customer due diligence programs that require certain accounts to complete various identity checks.
Swyftx also leverages the same dataset and suite of solutions trusted by regulators, law enforcement and payments providers in Australia.
By partnering with the world's largest Blockchain analysis company Chainalysis, we are a top contender for the title of Australia's safest exchange.
Read more: Spotting scams.