Google authenticator backup codes crypto exchanges
Trezor Model T hardware wallets also have 2FA support (FIDO U2F and FIDO2).ĭon't forget to back up your 2FA recovery codes!.Ledger: Ledger hardware wallets can be used as a 2FA mechanism by installing the FIDO U2F (Universal Second Factor) app, installable from Ledger Live.: Recommends Authy, also supports Google Authenticator and other time-based, one-time code generators.Coinbase: Google Authenticator, Duo apps (but not Authy), hardware keys, SMS.These can change at any time, but a quick review of the list will give you an idea of the variety that you will see accepted: Two well-known organizations that collaborate on multi-factor authentication standards are the World Wide Web Consortium (W3C) and the FIDO Alliance.Įxamples of 2FA standards that are accepted by various crypto exchanges and devices are shown below. Industry alliances offer standards that developers can use in implementing products. Either of those strategies is defensible however, do not rely on a small, unknown company, or use ad-laden 2FA apps, given the wide availability of high-quality solutions provided by well-known suppliers.Įach device or website that offers 2FA determines which types of 2FA mechanisms will work with their product. Some people prefer to trust well-known open-source software projects, because that code is fully transparent and can be analyzed by anyone.
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Some people trust large, well-known software companies like Google or Microsoft.
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When deciding which 2FA apps to use, keep in mind that (like any software) applications that you use for authentication should come from a trusted source, like an official app store, and from a trusted manufacturer. It is common for services with 2FA to allow users some choice in which type they prefer to use from a few different options. Because this type of 2FA code can only be used one time and they expire quickly, they are not easily stolen or abused. Once installed, these apps are associated with your unique device, and can generate "one-time" codes that work with a wide variety of sites and devices that implement authentication via 2-factor authentication. There are many authenticator apps available through app stores from manufacturers like Authy, Google, Microsoft, and LastPass. But if you carefully choose and protect a varied combination of identifying factors, you can make it highly unlikely that anyone could break into your accounts by pretending to be you.Īs a crypto asset holder, you should get into the habit of checking your account settings for any software or hardware that you use for crypto access or secret storage, and make careful choices from the 2FA options that are available to you. Even fingerprints, facial recognition, and voiceprints can be impersonated. Cellphones can be stolen, and SMS messages can be hijacked or spoofed. However, the strength of 2FA varies: passwords could be weak or sloppily-stored. With multiple-factor authentication, you are protected by the combined strength of all types of required factors. Put another way, if you identified yourself to an account using a few "things that you know," it is possible that someone who gained access to a trove of information about you could successfully answer many questions of that type. Using multiple different authentication factors increases security because if one of your authentication factors (like a password) is accidentally disclosed, an attacker would have to perform a completely different kind of attack in order to gain access to a second type of your authentication (like a dynamic authentication code). Why is it important to authenticate using multiple factors? While 2FA is the most widespread, crypto exchanges usually prefer three or more factors for highest security.
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MFA could incorporate two, three, or more factors of authentication. 2FA is a subset of multi-factor authentication (MFA). So 2-factor authentication is a way of identifying yourself to a device or service where you must provide 2 different factors of authentication - for example, a password, and a number from a special app that generates one-time codes (aka a "Time-based, One-Time Password," or "TOTP").Ģ-factor authentication is often referred to simply as 2FA.
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Something that you are (like your biometrics: fingerprint, face or voice recognition, etc.).Something that you have (like a cellphone, authenticator app, Yubikey, smartcard, etc.).Something that you know (like a PIN code, password, or answer to secret question).A "factor" is a type of evidence, typically falling into one of three categories: Authentication is the method by which you prove that you are who you say you are. First, let's review what the term "2-factor authentication" means.