Security at Plutus

Important Note: DEX functionality is currently disabled for UK customers. Read more about the changes [here].

Here at Plutus, we believe security is paramount. With the ever-growing threat of cybercrime and mounting fear of crypto exchange hacks, we think it's time to do things differently.

This is why we never hold any of your cryptocurrencies - this belongs to you and is secured by you. 

What sets Plutus security apart from others?

Plutus is unique because we do not store cryptocurrencies, each swap is a peer-to-peer match. It means that right off the bat, Plutus is more secure than others. If there are no user balances stored on the server, it logically follows that they cannot be hacked.

However, this does not mean that you should neglect the security of your account. By following the best practices, you can ensure that your Pluton and Ethereum remain right where you want them.

How can I make sure my account is safe?

We take extensive measures to keep users safe. Please note that Plutus staff will never ask for your password or 2-factor authentication codes. If anyone claiming to be associated with Plutus asks for this information, please notify us immediately at support@plutus.it

Here are some top security tips you can implement to ensure that your Plutus Account remains safe:

• Always use some form of 2FA - follow this guide here to learn how to set it up
  
• Always hold your private keys to your crypto wallets
  
• Don’t keep your crypto with exchanges, this can lead to a lot of difficulties.
  
• For larger amounts, use cold storage whenever possible. Paper is good, metal is even better.
  
• Use a password that is at least 8 characters long and mixes symbols, numbers, letters - upper and lower case if possible.
  
• Your e-mail is your gateway to your account, make sure it is safe.
  
• Create back-ups on multiple devices or mediums.
  
• Do not use USB sticks with an unknown origin or purpose.
  
• Do not use public wi-fi in locations you do not trust

Two Factor Authentication Explained

When it comes to money, you should do everything possible to ensure that your data is absolutely safe in a world of increasing internet fraud and digital crime. That is why we advise you set up an additional factor for authentication (2FA) to secure your Plutus Account.

2FA means you need more than one piece of information to get you into the account. The first "factor" is your usual login and password for your Plutus Account, and the second one is a code retrieved from an external device such as a cell phone, or a program on your personal computer. If somebody does compromise your password, they will still not have the code, and therefore not be able to access your account.

We strongly recommend that you use 2FA to make sure only you can access your Plutus Account from new devices as it is an additional level of security that provides more effective protection.

There are a number of mobile applications which you can use to manage your 2FA codes. These include, but are not limited to, Google Authenticator and Authy.

You can find our guide to enabling 2FA here

Which cryptocurrency wallets do you recommend?

The most secure wallets are hardware wallets otherwise known as cold storage. If you choose this option please verify that your wallet can support ERC20 compatible ETH tokens if you wish to store PLU.

The PlutusDEX is fully integrated with a third party application, Metamask. Metamask allows users to access and manage their cryptocurrencies through a user-friendly browser extension. If you wish to convert, or purchase, ETH and PLU on our decentralised exchange securely, please install the Metamask browser add-on. You can find our guide for this here

How are fiat deposits handled?

These are handled by a highly-respected 3rd party provider.

What else does Plutus do to ensure security?

In July 2018 Plutus launched a hugely successful bounty programme which allowed ethical hackers and cybersecurity experts from all around the world the opportunity to strengthen the Plutus systems by a number of different means. This programme resulted in the strengthened security of the Plutus systems. In addition to our call to bounty hunters, we have our technical experts reviewing and ensuring the security of our systems on an ongoing basis. 

You can help Plutus remain secure by helping yourself. Remember to follow as many of the top tips listed here as you can and always practice caution when transferring your crypto. If you have any other queries regarding security, please contact us at support@plutus.it