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Author Topic: Whether by adding 2fa can make my bitcoin wallet safe  (Read 1066 times)
ivanst776
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June 18, 2017, 09:18:43 PM
Last edit: June 18, 2017, 09:28:53 PM by ivanst776
 #21

I just found out bitcoin and I chose to use online wallet but there is a fear feel that makes me often check did my bitcoin is still safe. I have read some articles there saying for me to use 2fa as additional security. is that true?

Which wallet are you referring to? There are many wallets that have but others don't have the 2FA implemented.

As far as I know the desktop wallets do not have any 2FA implemented, at least not the electrum.

But the web wallets they have the 2FA as you login there as an account, email and password.
sweetdesirez
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June 18, 2017, 09:44:49 PM
 #22

Two factor authorisation has its pros and cons. Basically it is a second layer of confirmation that it is a trusted device from where you are accessing the wallet. But if there is a change in the hardware of the device, there is also chance of being locked out of the system by yourself.
ivanst776
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June 18, 2017, 09:52:36 PM
 #23

Two factor authorisation has its pros and cons. Basically it is a second layer of confirmation that it is a trusted device from where you are accessing the wallet. But if there is a change in the hardware of the device, there is also chance of being locked out of the system by yourself.

There are some good alternatives to not "lock" yourself in this situation, I use Authy and it allows to run the app in multiple devices.

So in case you lose access or in other cases you can't open the app and get the 2FA code then you have the right to open the app from another device (if you allowed it before).

You can reset the password of the Authy if you have access to the phone number that's why some website don't recommend Authy and suggest Google Authenticator.
setupbounds
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June 19, 2017, 06:20:20 PM
 #24

I just found out bitcoin and I chose to use online wallet but there is a fear feel that makes me often check did my bitcoin is still safe. I have read some articles there saying for me to use 2fa as additional security. is that true?
Yes, it adds a second layer of security to your wallet but it cannot be taken for face value. The two factor authorisation system itself is not hack proof and someone may get access to it too. If you are using a online wallet, this validated the computer or device which you are using.
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