MFA stands for multi-factor authentication, a security method that mandates users to provide multiple verification forms. For instance, when logging into Newton, combining a password with an authenticator app or a security key adds an extra layer of protection. This practice is crucial for safeguarding accounts, particularly on cryptocurrency exchanges and trading platforms, thwarting theft and unauthorized access.
What is an authenticator app?
An authenticator app is usually a smartphone application that generates time-sensitive, one-time codes, often referred to as Time-based One-Time Passwords (TOTPs) or simply authentication codes. These codes change every 30 seconds or so and are used in addition to your regular password.
This two-step process significantly enhances the security of your accounts because even if someone manages to steal your password, they would still need access to your authenticator app to generate the correct codes. This adds an extra layer of protection against unauthorized access to your accounts.
Popular authenticator apps include Google Authenticator, Microsoft Authenticator, Authy, and LastPass Authenticator.
How to set up an authenticator app
What is a security key?
A security key, often referred to as a hardware security key or a physical security key, is a specialized physical device used for authentication and security purposes.
A security key is designed to enhance the security of online accounts by providing an additional layer of protection beyond just a password. It's important to note that while security keys offer strong security, they can also be less convenient than other forms of MFA due to the need to physically possess the key — although this is often considered to be one of the safest methods.
Popular brands of security keys include YubiKey, Google Titan Security Key, and Thetis FIDO U2F Security Key.
How to set up a security key
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