Welcome to Lesson 4 of Kenya Crypto Magazine’s Free 8-Week Cryptocurrency Course!
In Lesson 1, we covered the fundamentals of blockchain and cryptocurrency. WATCH HERE
Lesson 2 introduced different types of cryptocurrencies and wallet security. WATCH HERE
In Lesson 3, we explored Trust Wallet, transactions, and blockchain confirmations. WATCH HERE
Now, Lesson 4 focuses on crypto exchanges, how to set up Binance, and security measures to protect your account using Authy or Google Authenticator.
🎥 Watch the Full Lesson 4 Video on YouTube:
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What You’ll Learn in Lesson 4
1. What is a Crypto Exchange?
A cryptocurrency exchange is a digital marketplace where you can buy, sell, and trade cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and stablecoins like USDT.
There are two main types of exchanges:
- Centralized Exchanges (CEXs) – Managed by a company (e.g., Binance, Coinbase, Kraken).
- Decentralized Exchanges (DEXs) – Peer-to-peer trading platforms without intermediaries (e.g., Uniswap, PancakeSwap).
💡 Pro Tip: CEXs are easier for beginners, while DEXs offer more privacy and control.
REGISTER ON BINANCE EXCHANGE USING THIS LINK
🔐 2. Exchange Security: How to Protect Your Assets
Crypto exchanges are a prime target for hackers. To keep your funds safe:
✅ Use strong passwords (mix letters, numbers, symbols).
✅ Enable 2-Factor Authentication (2FA) via Google Authenticator or Authy.
✅ Activate Withdrawal Whitelisting to limit transactions to trusted wallets.
✅ Use anti-phishing codes to avoid scam emails from fake exchanges.
✅ Never share your login details with anyone.
💡 Did you know? Many exchange hacks happen due to weak security settings. Always enable 2FA!
DOWNLOAD AUTHY HERE
🏦 3. How to Set Up Binance Exchange
Binance is one of the world’s largest and most trusted cryptocurrency exchanges. Follow these steps to set up your account:
1️⃣ Go to Binance’s Official Website (www.binance.com) Or use this link
2️⃣ Click Sign Up and enter your email/phone number.
3️⃣ Create a strong password and complete email verification.
4️⃣ Verify your identity (KYC) by submitting an ID and a selfie.
5️⃣ Secure your account with 2FA (Google Authenticator or Authy).
6️⃣ Deposit funds via crypto, P2P trading, or bank transfer.
7️⃣ Start trading or investing in cryptocurrencies!
💡 Tip: Always double-check the Binance website URL to avoid phishing scams!
4. How to Set Up Google Authenticator or Authy for Extra Security
🔹 Google Authenticator and Authy generate time-sensitive codes for 2FA security. Here’s how to enable them:
✅ Download Google Authenticator or Authy from the Play Store/App Store.
✅ Open Binance > Security > 2FA Settings.
✅ Select Google Authenticator or Authy.
✅ Scan the QR code or enter the key manually.
✅ Enter the 6-digit code displayed on the app to verify.
🔒 Why Use Authy Instead of Google Authenticator?
- Authy allows multiple device access and account backup.
- Google Authenticator does not support backup—if you lose your phone, you may lose access!
💡 Pro Tip: Save your backup key! If you lose access to your 2FA app, you’ll need it to recover your account.
5. How to Secure Binance with 2FA (Google Authenticator or Authy)
To secure your Binance account:
🔹 Go to Security Settings on Binance.
🔹 Enable Google Authenticator or Authy for login & withdrawals.
🔹 Activate Withdrawal Address Whitelisting.
🔹 Set up Security Alerts for login attempts.
💡 Did you know? Most hacked Binance accounts didn’t have 2FA enabled! Don’t be a victim—activate 2FA today!
🎯 Resources Mentioned in Lesson 4:
📌 Binance Exchange – Official Website
📌 Authy – Download on Play Store | App Store
📌 Binance Security Guide – Read More
Missed Lesson 1, 2, or 3? Catch Up Now!
✅ Lesson 1: Introduction to Crypto & Blockchain
✅ Lesson 2: Understanding Cryptocurrency & Wallet Security
✅ Lesson 3: Trust Wallet, Sending & Receiving Crypto
🎥 Watch the Full Course for Free: KenyaCryptoMagazine.com
📢 Missed the 100 Student Slots? No Worries!
We limited this course to 100 students for a better learning experience, but you can still watch all lessons for free on our website and YouTube!
📲 Stay Connected with Kenya Crypto Magazine:
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📌 Ready for Lesson 5?
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Final Thoughts
By completing Lesson 4, you now understand how crypto exchanges work, how to set up Binance, and how to secure your account using 2FA. Security is crucial in crypto—never underestimate it!
💡 What’s next? In Lesson 5, Stay tuned!
Did you find this lesson helpful? Leave a comment below and share your thoughts! 🚀
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