TechnologyWhat is 2FA (Two-Factor Authentication)?

What is 2FA (Two-Factor Authentication)?

2FA is the English abbreviation for Two-Factor Authentication, which can be translated into French by two-factor identification. It is a protection that exists on most websites operating in the world of cryptocurrencies.

In this article, we will briefly discuss the value of crypto-investors in protecting their accounts using such a method. While it may seem boring to set up 2FA on your accounts, it is nonetheless a security that we advise all of our readers to use.

What is the Two-Factor Authentication protection used for?

If you’re in the crypto-asset business, you’ve most likely heard of the many scams out there. Some of these scams take place at the exchange level or during ICOs where 2FA protection could not have done anything to help investors, but others have been possible due to the negligence of some people.

In fact, Two-Factor Authentication makes it possible to better secure access to an individual’s account by asking, in addition to the classic password, for an additional code to be inserted during connection.

Generally, this second security is enough to prevent the majority of unauthorized connections to crypto-investor accounts, thus preventing ill-intentioned individuals from doing what they want once in possession of their unfortunate’s access. victim.

What are the different 2FA protections available on the market?

By default, the only protection that exists to secure an account is the password. While some passwords are very secure and in practice impossible to guess, it is possible for an experienced hacker to obtain this information. By using two-factor ID protection, it is necessary to successfully get hold of this second protection to gain access to a person’s account.

There are several different 2FAs out there, but we’re only going to cover two of them. First of all, the first two-factor identification method that is easy to implement is the one that requires you to receive a code on your mobile phone via an SMS. Without having the telephone number linked to an account at its disposal, it is therefore impossible to retrieve this code to connect.

The second 2FA alternative is Google’s Authenticator app. This is a code generator that shows different numbers every 30 seconds. To be able to connect to your account, you must enter this code.

Are there any drawbacks to implementing two-factor identification?

If we speak from a security point of view, there is obviously no disadvantage at first glance to strengthen the protection of his account. However, this can be problematic on two levels.

First of all, it is important to always have the possibility to recover a SIM card with its phone number if you lose it. Otherwise, it would therefore be impossible to access your crypto account. The same goes for the code of the Google Authenticator application which should be kept preciously safe somewhere in case you change your phone.

Secondly, it can be off-putting to always have to have your phone next to you to check your SMS or the Google Authenticator code. Nevertheless, it is a habit that one quickly picks up.

Conclusion on 2FA

In the end, the advantages of having a Two-Factor Authentication outweigh the disadvantages of not having this protection on your account. The cryptocurrency industry is still young and regulations in the sector are still in their infancy.

In our opinion, it is important for a crypto-investor to properly protect access to their accounts, whether on exchanges or on their storage portfolios. There is no third party that takes care of securing digital assets, it is something that must be generated individually by each person.

Florent Malice
Florent Malice
Malice is an Irish sports journalist and former amateur and part-time road bicycle racer, He wrote for The Sunday Times newspaper and others, and published a number of books.

Latest news

Embrace Wellness and Magic with The Pretty Hot Mess

Saratoga Springs, NY, 24th February 2024, ZEX PR WIRE, Welcome to The Pretty Hot Mess, where you’re not just...

InternationalReserve Unveils Key Strategies for Modern Investors to Navigate Evolving Financial Markets

Toronto, ON, Feb 23, 2024, ZEX PR WIRE, In response to the ever-evolving landscape of global finance, InternationalReserve today...

Those Needing An Emergency Plumber in Gloucester Can Rely on Plumbing Heroes This Spring and Summer

Gloucester, UK, 23rd February 2024, Plumbing Heroes, a 24/7 emergency plumbing and boiler repair call out business, wants to assure...

Breaking Borders: Seamless Online New Zealand Visa Applications Now Available in Germany, Ireland, Italy, Lithuania, and Poland

Wellington, New Zealand, 23rd February 2024, In a pioneering move towards global accessibility, New Zealand Visa Services has unveiled a...

Seamless Access to New Zealand: Revolutionizing Visa Applications Online

Wellington, New Zealand, 23rd February 2024, In a global landscape where travel is both a luxury and a necessity, accessibility...

Embrace Adventure: Discover New Zealand with Effortless Visa Solutions!

Wellington, New Zealand, 23rd February 2024, Embarking on a journey to the land of Kiwis and breathtaking landscapes has...

Must read

Hungama joins forces with BharatBox for an Unprecedented Digital Odyssey

BharatBox, in collaboration with The Sandbox announces the launch...

BharatBox & Mahabharata: A Metaverse Renaissance in Storytelling Brilliance

BharatBox, the India destination within The Sandbox, in collaboration...

Unlocking the Power of Belief: Ramsena Coin Introduces the First Hindu Cryptocurrency and Virtual Revolution.

Ramesena Coin, the world's biggest virtual connection of Hindutva,...

USD 19,500, the new key price of bitcoin to start an upward movement

Key facts: In the past, $19,500 has been a resistance...

Blockchain IDOs and Presales You Should Know About

There’s never a lack of new projects opportunities when...

You might also like
Recommended to you