In a release by PRNewswire, Crypto.com (a payments and cryptocurrency platform) has announced a range of enhanced security measures including Two Factor Authentication (2FA) for certain transactions, insurance of digital assets, and launch of a new Security Page that outlines its commitment to maintaining industry-leading security standards.
Available on the Crypto.com mobile app, the implementation of 2FA provides its app users with an additional layer of security providing options to enable 2FA for sending and withdrawal of crypto, as well as wallet address whitelisting.
Additionally, users’ 2FA tokens will automatically sync to any new device they authorize; and, if a device is lost, stolen, or retired, users can deauthorize it from any authorized device.
The platform has also secured coverage for up to US$100 million in insurance for digital assets in cold storage from a global leader in protecting customers’ assets to safeguard against theft or direct loss. On that note, 100% of its customer’s digital assets are stored in cold storage.
Not only that, the firm is launching an information webpage to provide details on the company’s security measures.
“Security is a key differentiator in financial services and Crypto.com will seek to be a leader in providing a higher standard of security measures in order to provide users peace of mind that their funds are safe with Crypto.com,” the release said.