Guide
Two-Factor Authentication (2FA): Why It Matters and How to Set It Up
Bottom line: a second lock on your account
Two-factor authentication (2FA) requires a second confirmation — usually a one-time code — in addition to your password. Even if your password leaks, that extra step blocks most account takeovers.
Essential for crypto
Your exchange account is tied to your money. Always enable 2FA. Not doing so is like locking only one of two locks on your door.
Methods, safest first
| Method | How it works | Safety |
|---|---|---|
| Authenticator app (TOTP) | App generates a code every 30s | High (recommended) |
| SMS | Code sent to your phone number | Medium (SIM-swap risk) |
| Code sent to email | Low–medium |
Use an authenticator app
Apps like Google Authenticator are safer than SMS. Keep your backup codes somewhere safe in case you change phones.
Setup (general steps)
- Open your exchange's security settings
- Choose 2FA and scan the QR with your authenticator app
- Enter the code to enable it
- Store the backup codes safely (treat them like a key)
Sources
- Authenticator basics: https://www.ledger.com/academy/
Not financial advice
This article is for information only and is not investment advice. Crypto assets are volatile and carry risks including hacking. Do your own research and only use money you can afford to lose.
This article is informational only and is not financial, investment, or trading advice. Prices are reference snapshots and may be outdated. Always do your own research.
