How does two-factor authentication work in the context of digital currency?

1 answers

• Lalit DasMar 15, 2024 · a year ago
  Two-factor authentication (2FA) is a security feature that adds an extra layer of protection to digital currency accounts. It works by requiring users to provide two different types of identification to verify their identity. The first factor is usually something the user knows, such as a password, and the second factor is something the user possesses, such as a mobile device. When logging in, the user enters their password and then receives a unique code on their mobile device. This code is typically valid for a short period of time and must be entered to complete the login process. By requiring both factors, 2FA significantly reduces the risk of unauthorized access, as even if a hacker manages to obtain the user's password, they would still need physical access to the user's mobile device to complete the login. This additional layer of security helps protect digital currency accounts from potential threats and enhances user confidence in the platform.
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