There are a huge number of methods for hacking and circumventing password authentication, so two-factor authentication is essential to your account security.
What is 2FA?
2FA or two-factor authentication is when you protect your account with two factors or locks, creating an additional layer of security. In this context, a factor is split into three different categories:
- Users knowledge (e.g., password)
- Something the user owns (e.g., phone)
- Biometric traits (e.g., fingerprint)
To be properly protected by 2FA, your account must require at least 2 locks before granting access. Binance offers various 2FA verification methods:
- Security Key (e.g., YubiKey)
- Binance Authenticator
- Google Authenticator
- Mobile phone (SMS)
How to set up SMS and Google authenticators on Binance
When creating an account, you provide your mobile phone number. Whenever you want to log in, the service sends you an SMS message with a verification code that expires after a certain period of time. You have to input that number in order to log in.
Convenient & easy to use
Mobile phone numbers can be spoofed
It doesn’t require an additional application
Requires cellular reception
Setting up SMS Authentication
1. Navigate to your account page and click enable on the SMS Authentication option.
2. You will now need to enter your mobile phone number and click [Send SMS].
3. Once you have received the SMS, input your SMS Authentication Code into the field and click Submit.
After setting up Google Authentication, you are assigned a backup key (secret key). The App then generates one-time passwords (OTP) at regular intervals, using the secret key as a seed. Those one-time passwords are required to log in.
Losing your device means losing access to your account (unless you have a backup key)
It doesn’t require cellular reception or wifi
Requires installing additional applications
Setting up Google Authentication
1. To begin, click enable on your account page.
2. Next, you will need to download the Google Authentication App. Links are readily available on this screen. Once the application has been installed, proceed to the next step.
3. Scan QR Code. Open the Google Authenticator App on your mobile device and click “Scan a barcode” or “Enter a provided key” if you are unable to use your device’s camera.
Once you have scanned the QR code on the Google Authenticator App, you can proceed to the next step.
4. Backup Key. Please write down this backup key on a piece of paper and keep it safe. It can be used in the future to reset your Google Authenticator if you lose your mobile device.
5. Enable Google Authentication. Confirm your password and Google authenticator code and click on [Enable Google Authentication].