What are the potential risks and drawbacks of relying on Google Voice for SMS verification in the crypto industry?

3 answers

• Jan 14, 2022 · 3 years ago
  One potential risk of relying on Google Voice for SMS verification in the crypto industry is the possibility of account hacking. If a hacker gains access to your Google Voice account, they can intercept the SMS verification codes and gain control of your cryptocurrency assets. It's important to use strong security measures to protect your Google Voice account, such as enabling two-factor authentication and regularly updating your passwords.
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• Jan 14, 2022 · 3 years ago
  Another drawback of using Google Voice for SMS verification in the crypto industry is the reliance on a centralized service. If Google Voice experiences any technical issues or downtime, you may not be able to access your cryptocurrency accounts or complete transactions. It's always a good idea to have alternative verification methods in place, such as hardware wallets or authenticator apps, to ensure uninterrupted access to your funds.
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• Jan 14, 2022 · 3 years ago
  At BYDFi, we understand the convenience of using Google Voice for SMS verification in the crypto industry. However, it's important to note that relying solely on this method can pose security risks. We recommend diversifying your verification methods and implementing additional security measures, such as multi-factor authentication and cold storage solutions, to safeguard your digital assets.
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