Everyone thinking of signing up for the Swyftx platform has this question in their minds; is Swyftx safe? Well, it is safe and after reading this article, you will know why we are saying that. So make sure to stick to this post till the end.
What Are the Security Measures Taken By Swyftx?
Swyftx is one of the securest crypto exchange platforms that Aussies can trust with their hard-earned money and crypto-assets. Here are a few noteworthy security implementations by the platform:
- 2 FA: We all know how important 2-factor authentication is nowadays. It ensures the person trying to log into an account is exactly who he says he is. First, you will enter your login password, and then, instead of getting access to the account, you will be required to provide a second factor for login (Additional information). This can be anything depending on what you choose while setting up 2FA including a secret question, one-time password, or a biometric scan.
- Traffic Monitoring: To prevent DDoS attacks, and filter out blacklisted traffic coming to the platform, Swyftx implements strict traffic monitoring practices. This ensures no sneaky stuff is going on being the scenes. Furthermore, by inspecting the network traffic, the security team identifies anomalies in traffic and ensures the platform stays online 99.99% of the time.
- Auth0: It is a very flexible solution that provides authorization and authentication services to its customers. Swyftx leverages Auth0 to maintain the highest level of safety of the account information and passwords of its users.
There are many more practices that the team follows to keep Swyftx safe and its users secure but since most of them are happening in the back-end, we don’t know what those are. However, whatever the team is doing, it has kept the platform from getting hacked, which is a big plus.
So is Swyftx safe? Yes, there is no doubt that Swyftx is one of the securest crypto exchange platforms in Australia and you can trust it with your funds. However, we would still recommend not keeping your money or digital assets on the platform without any reason.
Only add fiat currency to your account when you need to make a purchase and once the crypto asset is acquired, transfer it into your wallet, preferably a hardware wallet. This is the only way to ensure no one can ever touch your assets.