Two-Factor Authentication (2FA) and Security
Two-factor authentication (2FA) is an effective security measure that enhances the security of your account by requiring two different methods of verification during login. It significantly reduces the risk of unauthorized access to your personal information or assets solely through a password.
How Does 2FA Work?
2FA is based on a combination of two different authentication methods:
- Something you know: Your username and password
- Something you have: A physical item, such as a smartphone, to which a one-time code is sent through an authentication app (e.g., Google Authenticator)
This means that even if your password falls into the wrong hands, logging in is not possible without the second method of authentication. Therefore, 2FA provides significant additional protection for your Coinmotion account.
Google Authenticator
Google Authenticator and similar applications generate continuously changing, short-term verification codes. When you enable 2FA, the service provides a QR code that you scan with the app. After this, the app generates a new six-digit code every 30 seconds for the second authentication during login. These codes are created offline, without an internet connection.
Because the codes are generated directly on your device, they are more secure than codes sent via SMS or E-Mail, which can be more susceptible to interception or fraud.
Practical Tips
- Keep backups of important QR codes or recovery keys in a secure place.
- Enable backups on multiple devices if the service allows it.
- Switch your 2FA app when changing devices in a timely manner. Do not wait for loss or breakage of the device.