Multi-factor authentication (MFA) is an advanced security measure that adds an extra layer of protection to your online accounts. Instead of relying solely on a password to access your account, MFA requires you to provide additional verification factors, such as a code sent to your phone or a fingerprint scan, to prove your identity.
Why is MFA Important?
MFA is a crucial tool in enhancing online security and protecting your personal information. By requiring at least one more form of verification, MFA significantly reduces the risk of unauthorised access to your accounts. This extra layer of security helps prevent hacking, identity theft, and other cyber threats. In other words, MFA helps protect your account from an unauthorised person who may already have your password.
How Does MFA Work?
MFA works by requiring users to provide two or more verification factors when logging into an account. These factors typically fall into three categories:
Something you know: A password, PIN, or security question.
Something you have: A verification code sent to your email or a physical security key.
Something you are: A biometric verification such as a fingerprint or facial recognition.
When you enable MFA, you'll first enter your password and then provide another form of verification based on one of the above factors. Only once both forms of authentication are verified will you be granted access to your account.
What MFA options are available?
After creating an account, you'll be asked to set up one authentication method as the default one. You can add more methods if you prefer, but for your default method, pick one that seems more convenient for you.
1. Authenticator app. Whether you are using an Android or iOS device, every phone has access to Google Authenticator, Microsoft Authenticator and Authy on their respective app stores. After setting up your authenticator app to associate with your Easy Crypto account, all you need is your phone to find your one-time passcode, which resets every minute.
2. Email magic link. If you frequently have access to your email account, it's a good idea to set up an email magic link as your default authentication method. After setting it up, you'll be asked to check your inbox for an email from us, containing a unique link that only you can access.
3. Email one-time password (OTP). This is similar to the email magic link above. Instead of a link, you'll receive an OTP. The benefit of this is that you can quickly access the codes from your phone without opening your email account, if you have email notifications on and can preview the contents of the email we send.
The backup codes
Every authentication method offers you to save a few single-use codes in case you're locked out of your email, phone, or any device that helps you secure your Easy Crypto account. It's highly recommended that you save these codes through a password manager.
How to enable your default MFA
To enable MFA on your accounts, follow these steps:
Log in to your account settings and start at Set up multi-factor authentication
Select a default authentication method
Follow the on-screen instructions to set up the additional verification methods you prefer.
Test the setup to ensure everything is working properly.
By enabling multi-factor authentication, you take a significant step toward safeguarding your online accounts and personal information. The process is straightforward, and the added security is well worth the effort.
If you have any questions please get in touch with the team at [email protected]