What are the advantages of using SMS-based two-factor authentication for cryptocurrency transactions?

3 answers

• MUNNAAug 22, 2022 · 3 years ago
  SMS-based two-factor authentication is considered advantageous for cryptocurrency transactions because it adds an extra layer of security. By requiring users to provide a code sent to their mobile phones, it ensures that only authorized individuals can access their accounts and perform transactions. This helps protect against unauthorized access and reduces the risk of account hacking or identity theft.
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• furqan anwarNov 02, 2024 · 9 months ago
  Using SMS-based two-factor authentication for cryptocurrency transactions offers the advantage of convenience. Unlike other forms of authentication, such as hardware tokens or biometric methods, SMS-based authentication only requires a mobile phone, which most people already have. This makes it easier for users to enable and use two-factor authentication, enhancing the security of their cryptocurrency transactions without adding complexity or additional devices.
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• Sergey MaslennikovMay 08, 2022 · 3 years ago
  At BYDFi, we believe that SMS-based two-factor authentication provides an additional layer of security for cryptocurrency transactions. It helps protect users' funds by requiring them to verify their identity using a code sent to their mobile phones. This adds an extra step to the login process, making it more difficult for unauthorized individuals to gain access to user accounts. Additionally, SMS-based authentication is easy to set up and use, making it a convenient option for users who want to enhance the security of their cryptocurrency transactions.
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