Two-factor Authentication — also known as 2FA — is an extra layer of security used to make sure that people trying to gain access to an online account are who they say they are, i.e, the original owners of the account. First, a user will enter their username/email and a password. Then, instead of immediately gaining access, they will be required to provide another piece of information. Bitfxt Exchange has an option for its users to add a 2FA as an extra layer of security to their accounts. This ensures you can sleep with both eyes closed knowing that your funds are safe and secure. In this post, we will explain why 2FA is important and how to enable 2FA on your Bitfxt account.
2FA is essential to web security because it immediately neutralizes the risks associated with compromised passwords. If a password is hacked, guessed, or even phished, that's no longer enough to give an intruder access. Without approval at the second factor, a password alone is useless. In addition, if your phone is lost, the chances of someone else having your second-factor information is highly unlikely. If a site you use only requires a password to get in and doesn’t offer an option for 2FA, there’s a good chance that it will be eventually hacked. That doesn’t mean that all 2FA are the same. Several types of two-factor authentication are in use today; some may be stronger or more complex than others, but all offer better protection than passwords alone.
The first thing you need to do is to download Google Authenticator
Launch the app and click on BEGIN SETUP.
Select “Scan barcode” if you want to sign up automatically using your camera or Select “Manual entry” to manually input your accounts authentication key.
Visit Bitfxt.com and log in to your account
Click on the Menu and Select My Profile
Scan the Barcode if you chose this method or Copy the Authentication Key if you chose the Manual entry
For Manual entry, Paste the Authentication Key in your Google authenticator app
Fill in your account name in the space provided, e.g My Bitfxt Account
Activate your setup. This should take you to a new window where you will be given a 6 digit code. (The code is time-based thus, changes every 30 seconds so, be quick in copy/pasting the code)
Copy this code and Paste in your Bitfxt account
Click on Enable Security
Congratulations, your Two-Factor Authentication has been activated. Your account is now hack-proof so go ahead and trade freely with Bitfxt.
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