Coinmetro uses many of the security features that have proven the success of FXPIG. Since its establishment in 2011, FXPIG has maintained a firm commitment to customer security. Coinmetro works with BitGo for payment processing. This enables users to take advantage of several strong security protocols in relation to login and payment approval, including the following.
2-Factor Authentication (2FA)
2-Factor Authentication (2FA) adds an additional security layer to user accounts. Login and account access will require both a password and a unique multi-digit code sent to a registered physical device, such as a phone. Authy’s multi-device 2FA feature gives users a convenient solution to securing their data.
Multi-Signature Transactions (via BitGo)
Multi-signature wallets require two signatures to confirm a transaction. One instance would be stored on BitGo’s server, and another would be kept at the Coinmetro Backend. To compromise a multi-signature wallet, an attacker would have to compromise both BitGo’s and Coinmetro's highly secure servers.
Cold Storage (via BitGo)
Coinmetro handles cryptocurrency deposits by generating temporary “receive wallet” addresses. Behind the scenes, assets from these temporary wallets will move to “cold storage wallets” constantly.
Cold storage wallets represent the most secure asset storage in the whole ecosystem, located on a physically secure, completely air-gapped device. In the event that a bad actor was to compromise the platform, they would only have access to the small number of coins stored in the temporary receive wallets at any given time.
IP Address Verification
With IP address verification, account access will require IP verification, which is an email sent to your registered email, confirming you are the one logging in. You can easily deactivate this step from your profile security steps.
Please sign in to leave a comment.