2FA is a must-have, not an option - Encryption User Guide

If you hold encrypted assets, then 2FA (two-factor authentication) is not just a line of defense, but the last lifeline. Why is this security mechanism so important? Because relying solely on a password cannot protect your account—hackers have too many ways to bypass it.

Why is the password not enough

To be honest, passwords are already a “thing of the past” in information security. Hackers can obtain your password through brute force, phishing attacks, or data leaks. The X account of Vitalik Buterin, one of the co-founders of Ethereum, was once hacked, with criminals stealing around $700,000 worth of assets from user wallets through malicious phishing links. What does this case illustrate? Even industry giants can fall into traps.

The 2FA mechanism is different – even if a Hacker knows your password, without the second layer of verification, they still cannot get in.

What is 2FA

The logic of two-factor authentication (2FA) is very simple: verifying your identity requires two things.

Layer One: Information only you know (password or key)

Second Layer: Operations that only you can perform (enter a one-time code, press the hardware key, scan your face or fingerprint)

Both layers must be passed for the account to be opened. This means that even if a Hacker has your password, they also need to control your phone, email, or hardware device at the same time - the possibility is almost zero.

Why Do Cryptocurrency Exchanges Require 2FA?

Large amounts of funds flowing in and out, currency transfers, API call permission changes… Every step of the exchange involves asset risk. Once an account is hacked, the loss is very real. Therefore, almost all legitimate exchanges require users to enable 2FA, especially when making withdrawal operations. This is not to trouble you, but to protect your money.

Comparison of Five 2FA Methods

SMS verification

The easiest solution. After entering the password, the verification code will be sent directly to your phone.

Advantages: No extra devices or applications are required, almost everyone can use it.

Disadvantages: Vulnerable to SIM card hijacking attacks; may not receive messages when the network is poor; SMS itself is not encrypted.

verification app (Google Authenticator, Authy, etc.)

Generate timestamp verification codes on your mobile phone without the need for a network connection.

Advantages: Offline work; one application can manage multiple accounts; harder to crack than SMS.

Disadvantages: Requires a phone and an application; if you don't have a backup before losing your phone, you will be locked out of your account.

hardware security key (YubiKey, Titan, etc.)

Physical USB device or key card, insert into the computer or connect to the phone for verification.

Advantages: Most secure; not susceptible to online attacks; strong battery life (can last for years)

Disadvantages: Requires purchase (usually $50-100); it's troublesome if lost.

Biometric (fingerprint, facial recognition)

Use your biometric features instead of input code.

Advantages: Fast and convenient; the best user experience; no need to remember codes.

Disadvantages: Requires trusted biometric hardware; Privacy risks (the platform stores your biometric data)

email verification

The verification code has been sent to your email.

Advantages: No additional applications or devices required; widely supported

Disadvantages: If the email is attacked, it's over; emails may be delayed; minimum security.

Which type should encrypted users choose

If you are only verifying your account on the exchange, there are usually multiple options when enabling 2FA. Our recommendation is:

Preferred Options: Authentication apps or hardware keys. Both solutions achieve the best balance between security and convenience. In particular, hardware keys, although expensive, are worth the investment for users managing large assets.

Secondly consider: SMS verification. If you're too lazy to download an app or buy hardware, SMS is at least much safer than not using 2FA.

Not recommended: Email verification as the primary 2FA method. It is the last resort.

How to Quickly Enable 2FA

1. Log in to your exchange account, go to security or account settings

2. Find the two-step verification option, usually under “account security” or “API management”

3. Select verification method (SMS, app, hardware key, etc.)

4. Scan the QR code or enter the key to bind the account to the verification tool you selected.

5. Enter the test code, ensure the configuration is correct

6. Save backup codes and store them properly (you can print them or keep them in a password manager). When you lose your primary verification tool, backup codes are your lifeline.

7. Verification Complete, from now on, verification will be required every time you log in or perform sensitive operations.

Do not make these mistakes after activation

• Do not take screenshots or photos to save the one-time code — Screenshots may be stolen by malware.

• Do not bind multiple accounts with the same phone number for SMS 2FA—if that phone number is compromised, everything is lost.

• Do not share your backup code—even platform customer service should not request it.

• Do not ignore app updates—updates for authentication apps often fix security vulnerabilities.

• Act immediately if you lose your verification device——Log in to your account immediately using the backup code and update your 2FA settings.

Last Words

The topic of 2FA may seem simple, but it is actually related to the security of your assets. In the world of encryption, there is no “undo” button—once a transfer is made, it cannot be retrieved. Behind almost every major theft case lies the luck of thinking “I didn't think I would be hacked.”

Don't wait until something happens to regret. Open your exchange account now and enable 2FA. It won't take more than 5 minutes, but it can help you avoid over 90% of account theft risks.

In this world of bait and traps filled with encryption, 2FA is the cheapest insurance you can hold in your hand.