When you are trading on any cryptocurrency there is a need for security. For that, there is a need for Coinbase 2FA (Google authenticator, Microsoft authenticator) which is not available on all the platforms of cryptocurrency exchanges.
Since the introduction of the bitcoin and other cryptocurrencies, there is an opening for the traders to use an alternative currency which is fast, low fees and safe. For that, there are many exchanges which are being used. But even after that, there is a chance of it getting stolen which brings in the need for the security measures like 2FA.
Here are some of the reasons why there is a need for the Coinbase 2FA for the trade you are doing online.
When you are trading the currencies on the coinbase you need to have the safety features which save you from the hackers and unauthorized access. For that, you can have the help of the two- factor authentication.
In this, you will be connecting the coinbase account with your mobile number. So whenever there is any change in the account you will know about it. Even to log in your account the application will be sending a 6-digit code to that number. This is done to verify your identity when you are requesting to log in the account.
But the problem is that it does not give any physical evidence of the possession of the user. This can happen only when you have lost your phone. But you can avoid this problem by using the back-up keys and changing the 2FA codes.
Application To Use For Coinbase 2FA
There are many applications which provide you the two-factor authentication. But there are very few on which you should trust. If you have the high balance in your account then it is best for you to use the 2FA applications like Google Authenticator, Microsoft authenticator.
In this, you have to download the authenticator application on your mobile phone and the scan the QR code on the coinbase security settings. This will connect your coinbase account and authenticator to each other.
So from the next time whenever you login your account a 6-digit code will be generate. You have to enter that code which will make your account safe from the others. There is no middle man in this process which makes it even safer from the attacks.
The benefit of using the 2FA is that when there is any change in your account you will be getting the notification. So when you find any change in the settings of your account or someone is trying to change your password you will know about it.
If you found any of these suspicious activities you can auto-lock your account which will disable the signing in the page. You can do this by clicking on the one-time use link that will be provided at the bottom of the email you received.
It is always better to be cautious and disable the account for some time rather than getting your money stolen by someone.
Disable Signing In When you are getting the message regarding the suspicious activity you should disable your coinbase account as soon as possible. By disabling the account following things will happen:
- It will disable the ability to sign in your account.
- All the sessions which sign in will be sign out.
- Cancel all the transactions that are in the process.
While disabling your account you must be sure about it. As after that you will not be able to sign in on your own. For that, you will need a support team after the investigation.
This has given you the idea regarding the Coinbase 2FA. So implement it as soon as possible and make your account safe for the trade of the cryptocurrencies.