Topic: The most important thing all newbies NEED to know.. 2FA (Read 136 times)
We can consider 2FA as a second password, it's more like a PIN number because 2FA code is a string of number, we need 2FA code to access online accounts when we enabled it. This make our account safer because we need to pass 2 security layers to access account, one is the account password and the second is 2FA code, and 2FA code is not a fixed string of number, a new 2FA code will be generated after fixed seconds. Useful tips for newbie is that you must back up your 2FA recovery phrase by writing it down on paper, you can use it to reinstall your 2FA code when you lose your phone, don't store your 2FA recovery phrase on your computer or online devices because if you got hacked, hacker can stole your 2FA recovery phrase and have ability to access your account.
What is 2FA and why is it so important?
2FA means two factor authentication. Think of it as a second way to make sure that you are the one accessing your crypto not someone who shouldn't. I personally have never heard of someone getting hacked and losing their crypto while having 2FA. Most wallets and exchanges have a 2FA feature. If you have more than you care to lose on there or you plan to store it for a length of time, you should turn on 2FA. BUT something you must do is back up your 2FAs back up code or key. The problem that can arise is in order access your crypto, you'll need your phone. That's so a hacker somewhere else in the world can't take it even if they have your passwords because they would also need access to your phone. BUT if you lose your phone and you have no backup key, you lose your crypto. Except with exchanges, they can work with you but really you shouldn't store your crypto on exchanges either.
2FA means two factor authentication. Think of it as a second way to make sure that you are the one accessing your crypto not someone who shouldn't. I personally have never heard of someone getting hacked and losing their crypto while having 2FA. Most wallets and exchanges have a 2FA feature. If you have more than you care to lose on there or you plan to store it for a length of time, you should turn on 2FA. BUT something you must do is back up your 2FAs back up code or key. The problem that can arise is in order access your crypto, you'll need your phone. That's so a hacker somewhere else in the world can't take it even if they have your passwords because they would also need access to your phone. BUT if you lose your phone and you have no backup key, you lose your crypto. Except with exchanges, they can work with you but really you shouldn't store your crypto on exchanges either.
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