Coinbase allows google authenticator but does it allow authy? Gemini allows authy but does not allow google authenticator? Is this true? I did read you could still use authy on coinbase even though coinbase say they no longer allow it?
Ideally, both applications should support it. Coinbase may tell they are not supporting Authy, but according to
this, they stated they are using TOTP based 2FA. Which Authy does also support TOTP[1]. Though, take it as a grain of salt since I didn't practically testing it directly. You better try to test on both applications about it.
[1]
https://www.twilio.com/authy/features/totpHowever, the big issue is if you lose your phone or something happens to your phone, then you will have lot of issues restoring your account?
Indeed, if you lost the 2FA token/key, you have to recover your accounts with a help of respective platforms.
So each time you set up google authenticator with a site, there is always a secret key or something you need to write down correct? So there is always a secret key for each site that you use it with? But is there a secret key for your google authenticator itself?
Correct. The backup key or secret key from the platform is the thing you should write down/backup. So, if you lost it, you are able to recover the 2FA token on a new authenticator.
So with authy, how does that work? I downloaded authy on my iphone and first thing I see when I open it, it ask for my cell phone. So I type my cell phone in to get an sms message right? But I also hear with authy, that when you first set it up on your iphone, you need to create a password and you need to make sure you remember this password? Thus you write it down? But there is also a secret key that you need to write down correct... in case something happens to your iphone? Or is it a secret key for each site you use authy with such as gemini etc.
I need to setup two factor authorization for both my coinbase and gemini accounts and want to know which authenticator I should use for each of these. I want to also make sure I have a backup code for it.
AFAIK, the password on Authy is required to encrypt locally your data as does to backup the data on their server. So, you have to remember it. But it will be better if you also manually back up the secret recovery of 2FA from the platform you are using.
My question is
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One thing that is essential and necessary is to backup the 2FA recovery/secret code from Gemini or Coinbase. That is the safest thing that you should do first.
IIRC, I was once using Authy and as far as I can remember even if you registered the QR code from the same platform, even if you have already done that in the past and if you are doing it again(setting up a new 2FA), the Authy will not replace the older data, instead, it will create a brand new token/code even with a same title/description/name in the Authy.