What is two-factor authentication (2FA)?

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Quick Answer

2FA is a safety tool requiring two identification forms to access resources and data. At SpectroCoin, fully verified users can choose from four 2FA options, while users with an active crypto debit card can choose from two options.

Two-factor authentication system, or “2FA” for short, is a safety tool used to increase customer security in various online services by implementing two methods of identification – usually, a knowledge factor (password) and a possession factor (smartphone or ID card).

With 2FA, users can only complete a transaction by verifying their identity through both layers of authentication. This minimizes the risk of money loss in case of stolen or hacked passwords, e.g., if somebody steals your login details, they would still be unable to withdraw money from your account as the second identification factor – a code generated only at the time of a transaction and sent to your email or smartphone – would remain unknown to the thief.

2FA at SpectroCoin

At SpectroCoin, fully verified users can choose from four 2FA options: SMS, Email, Google Authenticator, and SpectroCoin app, while users who have an active crypto debit card can choose from SMS or SpectroCoin app options. Moreover, 2FA can also be used to log in to the account. This option can be enabled/disabled like so:

  1. Log in, click on the profile icon on the upper right corner of the screen, and select “Profile”.
  2. On the left side of the screen, click “Security”.
  3. Scroll down a bit, and in “Login permissions”, click the option you would like to enable/disable and follow the instructions.

Please note: 2FA cannot be fully disabled. It can be enabled/disabled for logins but not for transaction verifications or things related to the crypto debit card, like a PIN code change.

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