How to start using Two-Factor Authentication

First things first, 2FA is not as complex as anyone would think. It is one of the many ways of authorization. The underlying concept behind 2FA or two-factor authentication is to provide an extra layer of security.

Why We Need 2FA or Two-Factor Authentication?

In the old days of the internet, you would only use a “username” and “password” to log into your account, for instance, your email ID. However, when the biggest websites like LinkedIn, Twitter, and Yahoo could not protect themselves from leaked login credentials of their users, they needed a solution to overcome this problem. So, they came up with 2FA or two-factor authentication.

So what is exactly 2FA or two-factor authentication?

In simple words, when two different methods of authentication are used to verify credentials, it is known as 2FA or two-factor authentication.

Typical 2FA example

Many email service providers provide the option to the users to activate 2FA. If you have activated 2FA, you would not only have to provide your “username” and “password”, but also verify it by entering a code sent on your mobile phone, like with Google Authenticator.

Other factors that may be also deployed in 2FA include:

- QR codes or barcode readers

- Biometrics

- The use of physical keys

- Secret questions

- Email verification

- Enter a TAN or PIN code

So is everyone in on the big secret of 2FA?

Well, despite the fact that Google introduced the two-factor authentication to mainstream in 2010, followed soon by Facebook, not many in the US or other parts of the world rely on it. Even interestingly, some surveys also reveal the fact that many do not even know what 2FA is or what it stands for.

Where Does 2FA Come into Play for Blockchain?

There can be many future uses of 2FA in the blockchain. However, currently, people have stored millions of dollars worth of funds in their online crypto wallets. But, most of them do not feel secure. We have heard so many stories of cryptocurrency funds stolen from the users’ accounts.

Thus, when it comes to protecting your hard-earned crypto funds, it is better to be safe than sorry.

Some of the ways to 2FA authenticate your Cryptocurrency Wallets Online

Here are some ways (provided your wallet supports them) to authenticate your cryptocurrency wallet online.

SMS Authentication

In case you do not have or do not want to use a smartphone, you can still get two-factor authentication enabled by receiving OTP codes on your cell phone via SMS.

Step 1:

Link your mobile number to your wallet.

Step 2:

Select the Enable Two Step, by pressing the Enable button.

Step 3:

You would get two options, either authenticate with SMS or Google Authenticator. You would obviously select the SMS option and click on the “use your mobile number” option instead.

Google Authenticator

Here are the steps you need to follow for adding two-factor authentication to your crypto wallet.

Step 1:

Go to the Google App Store to download the application.

Step 2:

Choose the “Enable Two Step” and press Enable.

Step 3:

Now, press the “Use Google Authenticator”.

Step 4:

You will get the Google Authenticator option by default. Now, you would get the QR code for scanning with Google Authenticator App.

For Android device users, you need to open the Google Authenticator on your device and tap the 3 dots in the upper right corner. Now, add an account and scan the barcode.

For iOS device users, open the Google Authenticator on your device, and then tap on the “+” sign in the upper right corner and now scan the barcode.

Step 5:

The next step is scanning the QR code using your mobile device. After completion, you would be able to see your Wallet ID listed in your app having 6 numbers. These 6 numbers change randomly every 30 seconds. You can now use this 2FA code for logging in.

Step 6:

Once you enter the code and press Enable 2FA, it should work.