Tuesday, 18 November 2014

Coinbase to Add Device Verification Feature to Better Protect User Accounts

San Francisco-based Coinbase is slated to roll out a new feature allowing for device verification this week, according to a security-oriented announcement made on their blog on Tuesday.

The device authentication feature is just exactly as it sounds, allowing users of the service to create a list of authorized devices (new devices can be added any time) from which their accounts can be accessed. In other words, if it’s not listed, you’re not getting in.

It’s all in effort to better protect the user from the seemingly endless amounts of account phishing and hacking attempts.

Coinbase also took the opportunity to advise users that they should always check the address bar while on any Coinbase page to verify that they are indeed on Coinbase’s site and not a phishing website.

Links to such phishing sites are common and often come disguised as official website links in emails.
The company is urging users to report such occurrences to spoofed@coinbase.com, from which the company will do what they can to have the fraudulent websites taken down or blocked on web browsers that support blacklists like Google Chrome or Mozilla Firefox.

Perhaps common sense, but the company is also recommending users make use of two-factor authentication when possible. This adds another layer of security to the process of logging in, preventing an intruder from correctly guessing your password by requiring a frequently-regenerated access code.

And speaking of passwords, Coinbase reminds you to make them unique! It’s never recommended to create easy-to-guess passwords, or use the same password for multiple services.

Finally, the threat of malware jeopardizing your bitcoin holdings not only on your computer, but on Coinbase, is real. Ensure installed software comes from trusted sources and consider installing a reputable anti-malware software to ensure your system is infection-free.