![]() If someone knows your email address and password, they will be able to access your personal information including your bank account. It prevents support tickets, reputational damage, and the loss of customers or investors. You protect your account from access by third parties, which is also in their interest. Every good website, app, exchange and wallet will encourage you to set up 2FA when registering an account. Google Authenticator is the most widely used 2FA mobile app in the cryptocurrency world. If you have 2FA enabled on a website or app they hacker won’t be able to access it easily.Ĭriminals are always looking for ways to access your account, but with the 2FA, you can make it very difficult for them! Hacks, scams, and data breaches happen almost daily, leaking your password. ![]() This form of extra security has become really important. It is an extra verification process to ensure privacy protection of your personal information upon entering your password.Īt your bank, you probably already use this in the form of an SMS or a device to safely secure your debit card information. Especially when you use cryptocurrency exchanges, but also on other websites and with banks. ‘Two-Factor authentication’ or ‘2 Factor Authentication’ (2FA), is a term you will see more often online. The Bulls And The Bears: Market Sentiment Explained.What is a DApp (Decentralized Application)?.
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