Two-Factor Authentication (2FA)
2FA is a security system that requires two completely separate, distinct forms of identification in order to gain access to something.
The first factor is always your password.
The second factor is usually one of these:
Biometrics ID
Retina ID
Code sent to your smartphone
Authenticator App - like Google Authenticator.
How Does 2FA Work?
2FA works by adding a secondary (additional) layer of security to your online accounts. Rather than simply having to type in your username and password (which could be stolen) you are required to add an additional log-in credential in order for you to gain access. Only once you have used both forms of authentication successfully will you be able to access something.
If you are using a crypto wallet or exchange you MUST activate your two-factor security. Most crypto wallets and exchanges will usually insist you have factor 2 in order to use the platform.
An example of 2FA you already use in day-to-day life is your bank card (1 factor) and your pin (2nd factor).
What Are The Most Common Factor-Two Authentications?
- Google Authenticator (Android and Apple)
- Authenticator Apps
- Email Authentication
- SMS (text code) Authentication