Opening a crypto exchange account safely: step by step
From finding the real site to two-factor authentication, the withdrawal whitelist and your first small transfer: what to do when you open an account.
Opening an account on a crypto platform takes minutes, but the settings you choose on day one decide how safe the account will be later. These steps apply whichever platform you pick.
In brief
- Use the real site: open the address from an official source, not a search ad, and bookmark it.
- Check the licence: make sure the platform is authorised where you live.
- Use a strong, unique password and keep it in a password manager.
- Turn on app-based two-factor authentication; don’t rely on SMS.
- Enable the withdrawal whitelist and the anti-phishing code.
- Test with a small amount before moving more.
1. Find the real site
Fake exchange sites can appear at the top of search ads. Cross-check the address with the platform’s official accounts, bookmark it once verified and always use the bookmark.
2. Licence and identity checks (KYC)
Licensed platforms ask you to verify your identity. Upload documents only inside the platform’s own site or app; never through links that arrive by email or message. Check your regulator’s list (in Turkey: the SPK). Our guide to choosing an exchange covers what else to compare.
3. Password and two-factor authentication
Pick a long password you use nowhere else and keep it in a password manager. Turn on two-factor authentication with an authenticator app (Google Authenticator, Authy) or a hardware key. SMS codes can be stolen through SIM swapping.
4. Anti-phishing code and withdrawal whitelist
Most platforms add a code you choose to every email they send (anti-phishing code); “platform” emails without it are fake. With a withdrawal whitelist, funds can only go to addresses you approved in advance, which makes life hard for an attacker even if they get in.
5. First deposit and withdrawal
Deposit a small amount first and try a small withdrawal straight away. Double-check the network (e.g. TRC20, ERC20, BEP20): crypto sent on the wrong network is often lost for good.
6. Regular check-ups
Review login history and connected devices from time to time and delete API keys you no longer use. Consider moving assets you plan to hold for long to your own wallet; our wallet safety video can help.
Our take
Account security is not a one-off job. Write your recovery codes on paper, keep them somewhere safe and never share them. Never share a password, code or your screen with anyone who contacts you as “support”. This is not investment advice.
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