NovaDAX, the safest online exchange, has 10 security measures and back-end guarantees from the Abakus Group (50 best Fintech innovators).
Security is the soul of an exchange.
From the moment it entered the Brazilian market in September 2018, NovaDAX’s improvement in security has never stopped.
With the following content, I believe you will be more assured of trading on NovaDAX.
Security endorsement: Abakus technical and financial support
Our greatest confidence in safety comes from the technical and financial support of the Abakus Group.
The Abakus Group has a valuation of more than 10 billion U.S. dollars, and has been continuously ranked among KPMG’s Top 50 Fintech Innovations from 2013 to 2017.
Abakus’ technology has been applied to various fields such as finance, medical care, AI, chips, 3C and so on. As of June 2018, Abakus group has gained 160 million users and 58000 partners worldwide.
Compliance: VQF license
VQF is a Self-Regulatory Organization (SRO) officially recognized by the Swiss Federal Financial Market Supervision Agency (FINMA). Its members need to meet the most stringent requirements to obtain membership, in which include financial intermediaries from the para-banking sector from the quasi-banking industry, such as Eidoo in the blockchain field, BIBOX exchanges, and Winbridge asset management companies in the traditional financial sector.
The strong global background allows us to have sufficient resources to improve the security level. In each step of your registration to transaction, NovaDAX has multiple measures to ensure your security.
User account security
1. Two-factor authentication (2FA)
When users log in to their account with NovaDAX, two-factor authentication (2FA) is required, and users need to provide 2 authentication factors to prove their identity.
2FA provides an additional layer of security, making it difficult for hackers to access personal devices and online accounts, because knowing only the user’s password is not enough to pass the authentication check.
2. ReCAPTCHA human-machine authentication
Human-machine authentication is required when registering and logging into NovaDAX.
ReCAPTCHA is a human-machine identity verification provided by Google, which prevents a large number of repeated requests, violent access by robots, and guarantees user data security.
3. Password protection
In NovaDAX, you must create a password longer than 8 characters, and you must use a combination of letters and numbers to set the password. When you create a password, we also have a reminder of the security strength.
When your account is logged off, you will receive an SMS reminder.
The number of users’ multiple concurrent sessions is limited. At the same time, the same account can only operate normally on one terminal, which will prevent fraud. (Multiple sessions not allowed to prevent from fraud)
Assets security of users
1. Multi-signature / Separation of hot wallet and cold-storage wallet
NovaDAX provides hot and cold-storage wallet separation technology to ensure the assets security of the users.
Non-networked cold-storage wallets are used to host most user’s assets for assets security.
Hot wallets are responsible for a small portion of assets that are often used for transactions.
Multi-signature security mechanism implemented by hardware: if you want to move the assets in the hot wallet, you need at least more than half of the keys to move the assets at this address to ensure the security of every fund.
2. Widespread use of Google Authenticator
Google Authenticator is a dynamic password tool that double-checks your account to improve the level of security.
All high-risk important operations, including depositing and withdrawing coins, require Google Authenticator verification.
3. Key protections for withdrawing assets
The extraction of assets is strictly protected, which is an important security firewall:
Verification must be completed for withdrawal.
Withdrawals must be verified by Google Authenticator.
You also need to fill in the ID verification code when withdrawing money. This is another security measure.
4. Timely email transaction reminders
At every step of your transaction at NovaDAX, you will receive timely change notification emails, whether you are accessing assets or buying or selling cryptocurrencies.
NovaDAX implements strict registration management and domain name security measures to prevent domain name hijacking and protect sensitive domain name information from being leaked.
You can view the security status of NovaDAX trading environment in real time, as follows:
After clicking the link, you can view the NovaDAX SSL Security Evaluation Report issued by third-party professional organizations at any time. The report will show our real-time scores, in which A+ is the highest score.
Safeguarding your account requires your participation
In addition to our protection, your account security also requires your participation.
We offer you the following security advice:
Set a more secure password. You can set the password to a random combination of more than 8 digits of numbers, letters and symbols.
Set a unique password for your NovaDAX account to avoid duplication with other accounts and email passwords.
Install and use Google Authenticator in time to lock your account. You can follow the tutorial settings on the security page.
Complete account verification and upgrade verification level to obtain more comprehensive security protection.
