Good day,
I was thinking about this, doesn't 2 factor authorization actually in many ways make you less secure?
A simple line of reasoning is that access to your funds becomes dependent on access to your cell phone.
This also makes you dependent on your cell phone provider. This also creates a situation where if security is not proper, trusted or up to date on the cell phone (old software, tracking, hacking, etc.), well then your means of payment could be compromised, your phone could get wet or break and you are left effectively fundless until you can sort out your cell phone problems, for example replace it at the store (which usually takes funds by the way...) You can't change the settings on your funds access because that requires 2 factor authorization too. This also obviously means if someone takes your phone away from you physically or from a distance , especially someone working with the cell phone provider, could effectively shut you off from your funds forever if they so choose, especially when you move in and out of exchanges and online wallets. (If a safe internet existed where you could basically never get hacked because no data is collected so you can't get identified and found, then 2 factor authorizations apparent benefit would also be redundant.) As I currently understand it is actually fundamentally flawed in that sense and can be used a tool for eventual control over people by control over their access to their funds. In my opinion, this should be examined.
Just buy a small simple pre pay smartphone only for using 2FA,thats how i do it,no crap can be instaled because i dont use it to browse the internet.
That makes sense for avoiding linking your identity with your wallet or account, however I'm not sure that completely solves all potential problems. I would probably have gotten a non smart phone in case things are already installed on it too, is there a reason you would go for a smart phone? What happens if that phone gets damaged. Also, is it true they deactivate pre pay phones after a period on non activity, so you would have to make sure to actively maintain the phone... what I mean by this is in an extreme case, if you go into a coma for 2 years and come back to find out your pre pay phone was your only access to your funds it could send you right back into the coma...
Having a little fun, but I think its an interesting discussion thanks for the advice.
