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2 Step Factor Authentication (2FA)

04 verificacion 2FA

When you start in the Cryptocurrency ecosystem, you are likely to have seen these acronyms within the security sections of your account in a Crypto trading platform “2FA”, and you most certainly did not know what it was about at the beginning of your experience with Crypto trading.

And it is that currently many platforms seek to offer their users a wide variety of protection methods that help the client to keep their account more secure than it would be with standard security systems.

This is where the 2-step or 2-factor authentication system comes into action, which has become very popular in recent years within platforms that require a higher level of security than the one established by default.

 

What is two-factor authentication (2FA)?

2FA is an extra security functionality that consists of additional authentication to the access credentials of an account on any platform or website, this is used in most websites where you can store information that tends to be delicate or sensitive. It basically consists of creating a second security layer to protect the information or stored records.

Specifically, this system allows users to include within their accounts one more step to access the platform, where the information required for this extra step is totally different from the standard access data, such as username, email or password.

This second access credential can be requested in different ways, where some are more secure than others but at the same time more uncomfortable to use, within the most common we can find access codes that are sent by email or via SMS, are very common in information exchange or data update processes, we can also find biometric authentication that has been particularly widespread in most mobile devices such as smartphones or the use of more specialized tools such as authentication hardware such as YubiKey authentication software like Google Authenticator, which focus on creating security codes periodically and later the platform will request one of these codes where both must match.

   

Why is it so important to activate a 2FA?

Despite the fact that many platforms are secure and have never even been exploited by hackers or another malicious agent, there are ways that these people can gain access to the account of a user or multiple users with the simple fact of implementing social engineering techniques such as “Phishing” where instead of trying to extract the access information of the users directly from the platform, they do it by directly attacking the user.

Whether it is taking your access data through scam emails or cloned web pages, 2FA is important to protect your account in case it is violated by some error of yours as a user or simply if it is used by someone who you have not given permission to use it.

The two-factor authentication system can really sound a bit annoying, since we have to be aware of entering another piece of information that we don’t really know, since it is generated on another device and is constantly changing, but this process can mean that our account is totally secure or not.

A common simile of this security method are the alarms that are installed in businesses or homes, where everyone has a key to open the doors (username and password) and then they must enter a code to deactivate the alarm (2FA) because otherwise there would be a problem with the authorities.

Unfortunately, for many reasons, the conventional credentials to access a website are no longer a secure way to keep access to our account private, here are some of the reasons why we must activate the second authentication factor in any of the web platforms we use:

  • The user always uses the same password or access data on different platforms.
  • Users do not have the culture of verifying the authenticity of an email or web page, for this reason they tend to trust the first option suggested by the browser.
  • Passwords are relatively easy to guess these days.
  • Users tend to share passwords or login credentials for unimportant websites, but they happen to be the same credentials for highly-important websites.

 

Conclusion

The use and activation of the 2FA security system is really important on platforms where the user stores or manages very important information and must protect it in the best possible way. At Ccoins we always recommend making use of this fundamental tool for the web security of our data.

Of course, at Ccoins we not only have a 2FA system in our security section, but you can also use different software or hardware to access your account through the second authentication factor.

In general, 2FA devices have an account recovery system in case you lose your device or format it, but in such a case that you cannot recover your 2FA, you should contact the Ccoins support team and request the deactivation of the recovery system. security, however first you must carry out a proof of life process where you must verify your identity through biometric data.

Really, all devices and applications for protection by second authentication factor are currently very secure, however, we recommend that our users be guided by the application that is most comfortable for them.

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