Hong Kong-based cryptocurrency platform Crypto.com announced on Wednesday a range of enhanced security measures including Two Factor Authentication (2FA) for certain transactions and insurance of digital assets. The crypto portal also launched of a new Security Page, which outlines its commitment to maintaining industry-leading security standards.
“Two Factor Authentication (2FA) is now available in the Crypto.com mobile app. The implementation of 2FA provides Crypto.com’s 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.”
Crypto.com also reported it has secured coverage for up to $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. 100% of Crypto.com customer’s digital assets are stored in cold storage. The platform added:
“Crypto.com is launching a new comprehensive 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.”