How to enable two-factor authentication

How to enable two-factor authentication

"Two-factor", 2FA, "two-stage" are the different names of the technology, the need for which is indisputable. It is used in messengers, email services, financial applications, and, of course, crypto wallets. As the crypto industry develops, multi-factor authentication is becoming industry's standard. Why is this feature important and how to enable it in your bitexbit account?

What is two-factor authentication

2FA is an additional level of security for your account, which uses a combination of two of three factors — knowledge, possession and inherence — to get access to an account. We use two-factor everywhere without thinking. For example:

  • bank card and PIN;
  • mobile phone and fingerprint reader or FaceID;
  • account password and one-time code or voice call.

Why it is important

Using only a password does not guarantee the safety of the client's data and funds. Finding the right combination is not a super difficult task if you use the same password on at least two websites, open links in email, or download programs from the public domain. Therefore, a user becomes a potential victim by downloading a movie from a file hosting service or a browser extension. Finding answers to security questions about the mother's maiden name or the name of a beloved pet is also not difficult in the era of social networks and a variety of poorly protected databases. Multifactor authentication is aimed at eliminating such risks, which implies the use of more than one "proof" to gain access.

How to enable the two-factor authentication on bitexbit

We use a combination of knowing a password of an account and possessing a mobile phone with an application that generates a one-time code. This does not require additional devices, and the confirmation code is constantly changing. It is implemented through the Google Authenticator app.

Algorithm for enabling 2FA

  1. Click the Login button on the website.
  2. Enter the login and password of your account.

    *You will receive a letter notifying you of entering your account to the email address specified in the account.
  3. Hover over the Profile button in the upper right corner and select Security from the drop-down list of functions.
  4. Click the Enable button opposite the Google Authenticator field.
  5. Download and install the Google Authenticator app from the App Store or Google Play. Click Next.
  6. Open the app on your smartphone and add a bitexbit account by manually entering a text key or by scanning the QR code generated in Step 2. The bitexbit account will appear in a new field in Google Authenticator. Click Next.
  7. Save the text key in a safe place: we recommend storing it in two forms — digital on a reliable device and text on paper. You will need this key to restore access if you lose control of your mobile device. Have you saved it? Is it in a secure place? Now click Next.
  8. Confirm the connection of two-factor authentication by entering the password of your account and the code generated by the Google Authenticator application in the corresponding fields. Click Submit.
  9. You will see a message Google Authenticator connected successfully. Two-factor authentication is enabled.
  10. Check the 2FA connection by logging out of your account and logging in again, but this time with a two-factor.
  11. To turn off 2FA, repeat steps 1–3, in step 4 click Disable and confirm the operation by entering your account password and code from Google Authenticator.
We strongly recommend using all possible security measures to guard your funds: at least use complex passwords, change them regularly, and enable two-factor authentication.

Last modified on 02.12.2020