Two-Factor Authentication (2FA)
Additional account security layer — code from app or SMS alongside password.
2FA (Two-Factor Authentication) is a security method requiring a second form of verification alongside a password — something you HAVE (phone) in addition to something you KNOW (password).
Types of 2FA:
•Authenticator App (recommended) — Google Authenticator, Authy generate time-limited 6-digit codes every 30 seconds
•SMS 2FA — less secure, vulnerable to SIM swap attack
•Hardware key — YubiKey, most secure solution
•Email 2FA — weaker than authenticator app
SIM swap attack: attacker convinces mobile operator to transfer your number to their SIM card → gets SMS codes → accesses account.
Recommendation: 1. Enable 2FA on ALL crypto exchanges immediately 2. Use Authenticator App, not SMS 3. Save backup codes in a safe place 4. DON'T install Authenticator on the same phone as the exchange
Without 2FA, account hacking is a matter of when, not if.