I am not feeling secure this way that’s why I used store all of my coin to hardware wallet. And if sometimes I need to exchange some of them then I took some coin from them.
Topic: Someone could create a two way factor digital wallet? (Read 339 times)
You can trezor hardware wallet for storing as it asks you to confirm every transaction by clicking it, but I don't see any other decentralized way to use 2FA.
I also believe it is the only decentralized way. I like the idea that every time you do a transfer on your digital wallet to another digital wallet a two way factor should be indicated thus it will notify the owner if there is any transactions to be made so as to secure more the digital wallet being held. I wish that this is already applied on some digital wallets and if there is any please comment on the thread and i will checked on it. This will minimize hackers to hack digital wallet.
You can do this in the exchange wallet. For some peoples, they prefer using exchange wallet because it is more secure.
But actually, there are some exchanges have been hacked. So, there is not really very secure wallet.
anyway, i think you cannot use 2fa on your personal wallet.
I always use my sim number for verification as an opening input in my wallet. I think its very safe to utilize as a private key.
Such idea is really creative and it is badly needed in this market of crypto currency. Now there are no such wallets in the market giving such type of advantages’ in the wallet but we can hope that in future we will have wallets like this.
There are other wallets which can give the feature that you are looking for here; for example Trezor. A tow way factor will in fact complicate things further and may make the exchange vulnerable.
I agree with you. Bitcoin has faced fluctuations this whole year. There has been many ups and downs. The long bear market entered by July and the price was recovering till the last week Monday when the price faced a momentum again. I think this year has been full of challenge for cryptocurrencies.
Yes two factor authentication is a very good process to keep our wallet secure. As far as I know trezor; coinbase and ledger had this type of facility. You can look upon on them.
Yes; there is 2 way factor in Internet wallet which will help you to secure your account and it will help to prevent hacking. So how to do it? You can use your phone number to verify it every-time you make a transaction. You can also use your email to verify it so that it ask for confirmation every-time a transaction is made. Or you can use third-party softwares to make your account safe.
good advice, and I have taken the preventive action.
but hackers always have other ways to steal our assets, pishing sites are one of their ways. so, not only using two way factors, but we also have to avoid every HYIP site.
but hackers always have other ways to steal our assets, pishing sites are one of their ways. so, not only using two way factors, but we also have to avoid every HYIP site.
I honestly appreciate your idea very much but I would like to advise you that it is better not to experiment with you wallet cause it can be bit risky this things store your coins but of course if you are sure about your decision then it is absolutely alright
I don't trust mobile 2fa anymore because there has been some cases where people impersonating a bitcoin owner stole their sim from the telecommunication company and used the 2FA code to hack their wallet. Rather I would like to have an app that provides 2FA codes for the wallet to make transaction like Steam's 2FA.
There are wallets with 2FA but according to recent studies hardware wallets are not safe because of some cases of sim hijacking happening all around the world. And after reading those articles and incidents; I feel like Email verification is much safer the mobile 2FA.
From my perspective i think it’s a great and innovative idea and i also fell bitcoin will must think about this and work on it.
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There are actually many average level of digital wallets out there which allows you to create two factor authentication. And to prioritize your coin’s extra protection this two factor authentication is very much essential to have
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There are actually many average level of digital wallets out there which allows you to create two factor authentication. And to prioritize your coin’s extra protection this two factor authentication is very much essential to have
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I think that you can create the digital wallet and protect the btc but i have heard that the best way is to use a hard wallet which i am also going to use soon after I buy btc when the price is better than now
It is possible to create two way factor authentication with Electrum as here a remote server functions on co-sign transactions and it also add an extra level of protection in the event of user’s computer while it is being compromised.
Certainly it is necessary for the security of the wallets. The moment a transaction happens it only notifies the receiver of the transaction. If the transaction notifies both the parties of the transaction by the digital wallet then the sending wallet will alert the user of the transaction.
This is really good and innovative idea to make the transaction more secured. If any digital wallet has two way factor; it will notify if any transactions to be made and then the transactions need to be confirmed by clicking on the device itself. This system will minimize the digital wallet to be hacked by hacker. Though; at the end you need to be cautious about the security as well.
As you are looking for a more secured transaction you may go with hardware wallets like trezor and ledger nano. For web wallets Blockchain.info is the most reliable one; it has numerous coat of authentication. It will just require your email and phone number.
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