How does a self signed certificate in certificate chain affect the security of cryptocurrency transactions?

3 answers

• Nov 28, 2021 · 3 years ago
  Having a self signed certificate in the certificate chain can potentially compromise the security of cryptocurrency transactions. Self signed certificates are not issued by a trusted third party, which means that there is no guarantee that the certificate is authentic. This opens up the possibility of man-in-the-middle attacks, where an attacker can intercept and modify the communication between the user and the cryptocurrency exchange. Additionally, self signed certificates do not provide the same level of encryption as certificates issued by trusted authorities, making the transactions more vulnerable to eavesdropping and data breaches.
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• Nov 28, 2021 · 3 years ago
  A self signed certificate in the certificate chain can introduce security risks to cryptocurrency transactions. Since self signed certificates are not verified by a trusted authority, there is a higher chance of encountering fraudulent websites or phishing attempts. This can lead to users unknowingly sharing their private keys or sensitive information with attackers, resulting in the loss of their cryptocurrency holdings. It is important for users to be cautious and verify the authenticity of the certificate before proceeding with any transactions.
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• Nov 28, 2021 · 3 years ago
  From the perspective of BYDFi, a self signed certificate in the certificate chain can significantly impact the security of cryptocurrency transactions. As a reputable cryptocurrency exchange, BYDFi ensures that all certificates in the chain are issued by trusted authorities to maintain the highest level of security for its users. Self signed certificates are not accepted on the BYDFi platform due to the potential risks they pose. Users are advised to only transact on platforms that prioritize security and use trusted certificates in their certificate chains.
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