How to Use Google Authenticator to Protect Your Coinbase Account?
It's a fact that Bitcoin currency trading is all the rage right now. Digital currency exchange companies have made it possible for everyone to take part in cryptocurrency investments. College students and senior citizens alike all take trade cryptocurrencies despite not fully understanding the market and the dangers that lie within.
People new to the digital trading scene are too obsessed with maximizing their profits, which leaves gaps in their security. Making sure your investments yield the most revenue is great and vital to trading, but making sure you don't lose your capital to opportunistic hackers is equally, if not more important.
There's no foolproof way to protect yourself against hackers, of course, but there are steps you can take to maximize your chances. The purpose of this article is to help you with this, so let's get started.
Why your password alone is not enough
The most critical step in this whole venture is making sure your wallet is adequately protected. Many first-time cryptocurrency traders underestimate hackers and rely on a simple password to protect their e-wallets. Sure, the password is the base of all online security, but it alone is not enough to deter cyber thieves. Any password, no matter how long or complex it may be, can be cracked with the right tools and enough time.
For maximum security, we recommend you use Two-Factor Authentication. If you don't know what that is, Two-Factor Authentication ( or simply 2FA), is an alternative layer of online defense that requires you to enter more than just your password and username to log into your account. 2FA also needs you to type a code that only you have access to. It could be a QR code or a secret question to which only you know the answer to, for example. It depends on the code generation mechanic you use. This makes it much more difficult for hackers to gain access to sensitive information (like your Bitcoin wallet).
With 2FA you can better defend yourself and your hard-earned cryptocurrency by reducing the chances of ID theft online, suffering phishing email attacks or brute force hacking attacks. By adding an extra step in the login process, which requires more than just your username and password you're making the hackers' job so much harder, and anything that frustrates hackers is a good thing in my book.
Two-Factor Authentication is not a new thing, though many people still haven't heard of it. Online giants like MSN, Yahoo, and Google and other companies have all been using it as part of their services for nearly a decade now.
How to use Google Authenticator to keep my Coinbase account safe
Google's Authenticator app is an extremely useful tool for online defense. It puts the power of Two-Factor Authentication at your fingertips. Its main strength is that it can be downloaded on your phone, so it's always at your disposal. Being developed by a massively mainstream company like Google means two things. First, it's streamlined and easy to use. This is important since it can save you time at a critical moment. Second, it means that a lot of websites and companies have adopted it and integrated it into their services, including Coinbase.
How do I turn Google Authenticator on
Activating Google's Two-Factor Authentication tool is pretty simple as one would expect from such a mainstream company. All you have to do is download the app and install it on your smartphone. Once you enable 2FA, the Authenticator will ask you whether want to a temporary code via text message or email. You'll also have the option to use Google Authenticator to create it. Should you select the Google Authenticator option, you'll have to scan a QR code first, then and the Authenticator will randomly create the code. When that's done and the tool performs the necessary checks to if everything works properly you're good to go.
From then on all you have to do is launch the app to see the codes for every service you're using it on, including Coinbase. These codes are generated every 30 seconds or so, so you don't have to worry about anyone stealing them and using them to hack your account.