When using crypto currencies, it is crucial to consider security and protect ourselves online. Two-Factor Authentication (2FA) is a simple, yet powerful tool that makes our accounts safer by adding an extra layer of defence. You may already have used Two Factor Authentication when logging into your bank or sending a payment. Let’s explore the benefits of using 2FA and why it’s essential for our online safety.

How does it work?

Two Factor Authentication uses a second secret password that is valid only once and changes every 60 seconds. There are two methods to obtain this second password. The first is via an SMS/text message sent to your mobile. Although some banks continue to use this method, it is considered less secure. The second method, which Solidi uses, is via an App on your phone (or computer) that generates a new code every 60 seconds. When you log into Solidi you enter your email, password and a new token from your phone.

What are the benefits?

Extra Account Protection – Two Factor Authentication boosts the security of our accounts by asking for two proofs of identity instead of just one. This means we need something we know (our password) and something we have (the special code on our phone). It makes it much harder for hackers to get into our accounts, even if they know our password.

Keeping Passwords Safe – Passwords are often easy targets for hackers. But with 2FA, even if someone guesses or steals our password, they can’t get in without the second factor. It’s like having a secret code that changes all the time!

Guarding Against Phishing – Phishing scams try to trick us into giving away our login details. But with 2FA, it’s harder for scammers to get what they want. Even if we fall for their tricks and enter our password on a fake website, they still can’t get into our account without the second factor. Even if you supply the second factor, unlike your password, this can only be used once – within 60 seconds it updates.

How do I enable Two Factor Authentication?

Enabling Two Factor Authentication is easy – simply download the app for iPhone or Android and then enable 2FA on the Settings page of your Solidi account (or with this direct link).

Conclusion

Two-Factor Authentication is an essential tool for safeguarding our crypto. It makes our accounts stronger, protects us from phishing, and keeps our passwords safe. With apps like Google Authenticator, 2FA is accessible to everyone.

So, let’s start using 2FA today and make our online experiences safer and worry-free!