What are the advantages of using phone number verification in cryptocurrency transactions?

3 answers

• Suranjan Kumar GhoshDec 06, 2021 · 4 years ago
  Phone number verification provides an extra layer of security to cryptocurrency transactions. By linking a phone number to a user's account, it helps prevent unauthorized access and reduces the risk of fraud. Additionally, it can help in recovering lost or stolen accounts as the phone number can be used for account recovery purposes. Overall, phone number verification enhances the security and trustworthiness of cryptocurrency transactions.
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• prasanna deshpandeJan 04, 2021 · 4 years ago
  Using phone number verification in cryptocurrency transactions adds an extra level of protection against unauthorized access. It ensures that only the account holder with access to the registered phone number can initiate transactions. This helps prevent hacking attempts and unauthorized transfers, making the overall transaction process more secure and reliable.
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• Mohannd shwkiMay 24, 2023 · 2 years ago
  At BYDFi, we believe that phone number verification is an essential security measure for cryptocurrency transactions. It adds an extra layer of protection by confirming the identity of the user and reducing the risk of fraudulent activities. With phone number verification, users can have peace of mind knowing that their transactions are more secure and less susceptible to unauthorized access.
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