GlossaryBeginner
Two-Factor Authentication
A login security method requiring a password plus a second, separate verification step.
Two-factor authentication, or 2FA, requires a second piece of verification beyond just a password before allowing access to an account, such as a code from an app or a physical security key.
For crypto accounts and exchanges specifically, an authenticator app or hardware security key is generally considered a stronger form of 2FA than a code sent by text message, which can be vulnerable to SIM swap attacks — see Kaavon's "SIM Swap" glossary definition for how that specific attack works, and "Phishing" for another common way account credentials get compromised in the first place.
Examples
- Enabling 2FA on an exchange account adds a meaningful layer of protection beyond a password alone.
- An authenticator app generates time-based codes that aren't sent over a phone network.