security 2FA, OTP, and Authenticator, most used security in crypto world.

[Calvinpriva 17296]

When we talk about cybersecurity, we have to know that there are many types of security that we can use to protect the things we store online, including cryptocurrencies. There are so many wallets and exchanges that use different security for the safety of their customer's, here I will talk about the three most well-known security types, as well as their importance and difference.

 

Security that I will talk about:

• 2FA - Two-Factor Authentication
• OTP- One Time Password
• Authenticator

 

 

1. 2FA - Two-Factor Authentication.
This is the type of security that is known more than all other types of security, I can also say that this type of security is the most used by many cryptocurrency wallets and even regular wallets for fiat. This type of security will help to protect your coins in the wallet by sending you an additional password that you will need to fill in when logging in to your wallet after entering your email and password for your account. This security uses email, so after putting your email and password, you will not be able to access your wallet first but you will need to complete 2FA. You will be given special numbers that you will need to fill in and you will be allowed to enter your wallet. This is useful because no one will be able to access your account even if they have a password for your account, unless they know your email and password as well.

 

2. OTP- One Time Password.
This is not that different from 2FA, but I can say it is better than 2FA. This type of security uses a phone number to send you a pin that allows you to sign in to your account. When you want to log in to your account OTP will send verification, when you want to send or withdraw the money you will be sent a verification number as well. This is great because it works well without having to rely on the internet, and those numbers that enable you to log in to your app are used directly sent to your mobile phone number. So using this security will be difficult for hackers to hack your account and steal money unless they steal your phone which has the number that has been connected to OTP.

 

3. Authenticator.
This type is one of the most powerful security and is used with a lot of wallets and some other software as well. The function of this security is to verify that you are the user of a particular account, whenever you want to access a wallet that uses this security. This security uses a mobile app to display code that you will need to fill in the wallet you use after entering your email and password. All you have to do to use this security is to go to the settings of the wallet you are using "if it uses this security" and connect your account to the mobile authenticator app by downloading the app and entering the code that the wallet will give you as your identity.

 

There are so many types of security in wallets, but I have defined these three as they are the most common and maybe someone wanted to know the differences.

 

So we found out that:

• 2FA - Two-Factor - Aunthentication uses email to protect your wallet.
• OTP- One Time Password - uses a phone number to protect your wallet.
• Authenticator - uses a mobile app to protect your wallet.

 

There are some wallets that use all three security at once, we can discuss those wallets in other articles.
 

[Whited35 15285]

5 hours ago, Calvinpriva said:

So we found out that:

• 2FA - Two-Factor - Aunthentication uses email to protect your wallet.
• OTP- One Time Password - uses a phone number to protect your wallet.
• Authenticator - uses a mobile app to protect your wallet.

@Calvinpriva what an excellent post ! Well, adding extra layers of security to our account is the most recommended because once attackers get an access to our account through phishing or routing attack,  they can easily take control over our money. Good thing is, you presented everything so nicely so that newcomers or crypto enthusiasts can find it useful. 

[Calvinpriva 17296]

9 hours ago, Whited35 said:

@Calvinpriva what an excellent post ! Well, adding extra layers of security to our account is the most recommended because once attackers get an access to our account through phishing or routing attack,  they can easily take control over our money. Good thing is, you presented everything so nicely so that newcomers or crypto enthusiasts can find it useful. 

Thank you brother @Whited35 yes, I have tried my best to explain this in a very simple language so that beginners can learn something. Though there are many other security, but i think this are the most used with many wallets and exchanges.

[malik6314193 5449]

19 hours ago, Calvinpriva said:

• 2FA - Two-Factor - Aunthentication uses email to protect your wallet.
• OTP- One Time Password - uses a phone number to protect your wallet.
• Authenticator - uses a mobile app to protect your wallet.

I will rank it as first OTP second 2FA and third Authenticator .

The reason is that OTP is easy fast and more secure way because hackers are unable to hack your phone and other thing is that we can assess it any time but in authenticator you have to know a secret key. If you lost it you will loss all your assets. 

[Whited35 15285]

22 hours ago, Calvinpriva said:

Thank you brother @Whited35 yes, I have tried my best to explain this in a very simple language so that beginners can learn something. Though there are many other security, but i think this are the most used with many wallets and exchanges.

@Calvinpriva Yes, there are so many other protective security layers. In case of online wallets or exchange sites, these 2FA security layers save from some biggest enemies.Nowadays, bio-metric security layers are looking great as it needs specific users to unlock the features on specific wallets or online exchange sites. 

Latest most of the smartphones or touch screen features enabled PC have this sort of verification procedures. 

[Ridam 7455]

Even if it's a social media account or our exchange account, we must enable 2-step verification. Personally I'm using Authenticator and it's a Google Authenticator which is very easy to use and provides the best security along side.  Also we don't need to provide Mobile number like in OTP security options so I feel comfortable, easy and secured with Google Authenticator. It works even offline which is really great deal.

@Calvinpriva This is the most read topics for all the members as security is the most important in virtual world.

[Cryptic 0]

For me the best way to secure yourself from scammer is to use this kind of security in any account you made on internet like social media, online wallet, emails and etc because any information even a little like your name can use by a hacker and scammer to hack bypass you wallet. By the way, thanks for this kind of topic, since not everyone knows about this security features.

[Oxygen99 1930]

Security is good because that is what we will use to keep our various accounts safe in this cryptoworld since we have lots of scammers and hackers who are looking for who to cheat and with this topic i think we can see the power of making use of strong security to keep account safe. The listed security systems are all good for us but for me i prefer making use of the 2FA because it is stronger from my own point of view.

[wassim19 645]

These three characteristics are considered the best in safety because they protect your account from hacking, and I think that the best of them is the 2FA feature which is the best due to the degree of protection that beer is characterized by.

[Calvinpriva 17296]

4 hours ago, Whited35 said:

@Calvinpriva Yes, there are so many other protective security layers. In case of online wallets or exchange sites, these 2FA security layers save from some biggest enemies.Nowadays, bio-metric security layers are looking great as it needs specific users to unlock the features on specific wallets or online exchange sites. 

Latest most of the smartphones or touch screen features enabled PC have this sort of verification procedures. 

Sure @Whited35 bio-metric security is better because by this it no one will access your wallet but only you. I have seen this security used by a lot of mobile companies, Computers, and some other stuff. Is there any wallet or exchange which uses bio-metric security? 😯

 

4 hours ago, Ridam said:

Even if it's a social media account or our exchange account, we must enable 2-step verification. Personally I'm using Authenticator and it's a Google Authenticator which is very easy to use and provides the best security along side.  Also we don't need to provide Mobile number like in OTP security options so I feel comfortable, easy and secured with Google Authenticator. It works even offline which is really great deal.

Yes @Ridam  authenticator is good security because it can be used even offline and there will be no need for providing a mobile number in Authenticator security just as you said.

 

4 hours ago, Ridam said:

@Calvinpriva This is the most read topics for all the members as security is the most important in virtual world.

Thanks! Yes, security is the most important thing so we should be careful.

[Whited35 15285]

2 hours ago, Calvinpriva said:

Sure @Whited35 bio-metric security is better because by this it no one will access your wallet but only you. I have seen this security used by a lot of mobile companies, Computers, and some other stuff. Is there any wallet or exchange which uses bio-metric security? 

 

@Calvinpriva Yes, you might check this cool non-custodial app with bio-metric verification enabled if you are android phone user with necessary adjustments. Give a try here https://play.google.com/store/apps/details?id=com.zengo.wallet&hl=en_US&gl=US and let me know your experiences 😉

[Calvinpriva 17296]

15 minutes ago, Whited35 said:

@Calvinpriva Yes, you might check this cool non-custodial app with bio-metric verification enabled if you are android phone user with necessary adjustments. Give a try here https://play.google.com/store/apps/details?id=com.zengo.wallet&hl=en_US&gl=US and let me know your experiences 😉

Yes brother @Whited35 i must check this, i'll tell you. I never thought there is a wallet that has this security, i hope this wallet will be good because i already like it for just having bio-metric security.

31 minutes ago, eliottalderosn said:

@Calvinpriva

I like 2FA more than OTP just because sometime we might lose our phones or it gets stolen somehow so we don't want to give everything in it just for anyone who gets his hands on it to steal all the credentials in it.

even though mobile phones have passwords but we always see new ways to open them without having to know the password.

2FA is better because it is considered as a 2 levels of security; if you manage to bypass the first one then there is another one you need to pass through. Unless you put a similar password to the first one then you feel safe

Well said @eliottalderosn 2FA is good because you can login anywhere with your email and confirm your account, but it's hard with OTP. If you lost your mobile it will be very hard for you to access your account because you must receive OTP in your mobile number.

[Whited35 15285]

28 minutes ago, Calvinpriva said:

Yes brother @Whited35 i must check this, i'll tell you. I never thought there is a wallet that has this security, i hope this wallet will be good because i already like it for just having bio-metric security.

@Calvinpriva I think it was the first crypto wallet with this sort of feature enabled. I used it in the past but after having couple of hardware wallets, I moved all the funds from this wallet to the hardware wallet Trezor T. Anyway, it is the perfect wallet as devs are regulary fixing the bugs and providing the timely updated versions. 

[Syedbesharat 5423]

I used 2FA and Authentication both are good and easy. But after having problems with 2FA I shifted at authentication. Which is more convenient for me. It all depends on you to choose which is best for you. Where people prefer OTP best for them. All it matters is having tight security at account. 

[Oxygen99 1930]

12 hours ago, Syedbesharat said:

All it matters is having tight security at account. 

Yes my friend they are all good security system and the only problem is understanding because some people have problems when they come set the security 2FA which is why they mostly prefer OTP, for everyone reading this just make sure you keep your account stronger by activating any of this security.

[Jaafar Fahad Hassan 114]

2 hours ago, Oxygen99 said:

Yes my friend they are all good security system and the only problem is understanding because some people have problems when they come set the security 2FA which is why they mostly prefer OTP, for everyone reading this just make sure you keep your account stronger by activating any of this security.

I don't know of the 2FA ,am only familiar with one time password (OTP) ,keeping our account strong should be everyone's priority if we don't want to fall victim of scammers

Edited October 27, 2020 by Jaafar Fahad Hassan
Mixed words

[Projectcrypto 4382]

17 hours ago, Whited35 said:

I used it in the past but after having couple of hardware wallets, I moved all the funds from this wallet to the hardware wallet Trezor T.

Hardware wallets are actually good and stronger than what some people say about it and that is why i also choose to make use of it because since i started using it no sign of hacking of something that has happened to my wallet and that makes me feel good.

[Honny143 13612]

@Calvinpriva  I remember once we exchange little bit information about this 2fa and authenticator on other topic, but now you made this wonderful topic and in this tooic you gives totally information about these 3 security systems, 

If we want protect our accounts from hackers then surely enable these security system, regarding the wallet are exchange offering us any one of these service.because different exchange offers different security system.

[Oxygen99 1930]

2 hours ago, Jaafar Fahad Hassan said:

I don't know of the 2FA ,am only familiar with one time password (OTP) ,keeping our account strong should be everyone's priority if we don't want to fall victim of scammers

They are both good security system that enable users to keep there accounts stronger so that hackers won't be oppotuned to steal from them and since that is the case then we should try by all means to protect ours as well.

[tienda 8776]

Good job @Calvinpriva thanks! This is important for our cryptocurrencies protection. I think three points are very important for use, if we can use all them will be better, but any of those point you use will be useful for our security. We shouldn't be ignorant about our protection!

[Whited35 15285]

5 hours ago, Projectcrypto said:

Hardware wallets are actually good and stronger than what some people say about it and that is why i also choose to make use of it because since i started using it no sign of hacking of something that has happened to my wallet and that makes me feel good.

@Projectcrypto But still, you should be very careful while connecting your hardware wallets to the online clients for different purposes like exchanging coins, withdrawing to the other wallets etc. Malware infected online platforms can cause to steal funds from your wallets.

[Oxygen99 1930]

19 hours ago, overkill11 said:

There are some sites that offer maybe two of them at the same time

That would be really nice my friend because they will make ones account to be more stronger which will not allow hacker to threat you since the security system are well standard and through that they earn good reputation from many people.

[Calvinpriva 17296]

21 hours ago, Honny143 said:

@Calvinpriva  I remember once we exchange little bit information about this 2fa and authenticator on other topic, but now you made this wonderful topic and in this tooic you gives totally information about these 3 security systems, 

If we want protect our accounts from hackers then surely enable these security system, regarding the wallet are exchange offering us any one of these service.because different exchange offers different security system.

Yes dear @Honny143 it's good to enable one of these securities because they are very important in wallets and exchanges that we are using. I like 2FA because even if you lost your phone, you can login to your email ID in other device and confirm your account.

 

Thanks @tienda of course, these three securities are very important because they protect our wallets and other online things. Yes, if we can use both of them in one wallet it would be better. I use Gate exchange to store some of my coins, i think it's the top exchange leads in security.

[Projectcrypto 4382]

19 hours ago, Whited35 said:

@Projectcrypto But still, you should be very careful while connecting your hardware wallets to the online clients for different purposes like exchanging coins, withdrawing to the other wallets etc. Malware infected online platforms can cause to steal funds from your wallets.

Thank you for that reminder mate because i have heard a friend complaining of that type of situation and since the scammers are wicked they took everything from him leaving him with nothing in his wallet for that reason we indeed need to be extra careful to avoid lose since no one will be there to compensate us if we lose.

[Jaafar Fahad Hassan 114]

53 minutes ago, Projectcrypto said:

Thank you for that reminder mate because i have heard a friend complaining of that type of situation and since the scammers are wicked they took everything from him leaving him with nothing in his wallet for that reason we indeed need to be extra careful to avoid lose since no one will be there to compensate us if we lose.

You should urge your friend to try and apply the above listed security ways we can secure our accounts , which is posted by @Calvinpriva, they are very important ways, he can apply two of the secure ways at same time, not only your friend, anybody associated with cryptocurrency which is an online asset need to be extra careful