Binance 2FA authentication SMS: Do I have to activate the API?

[Witte Haai]

Hi everyone,

I regestered an account on Binance, and choose tot receive 2FA authentication per SMS. But I also saw the option to activate the API code. I know I need that, to install Google Authenticator at a new phone.

My question: Do I also need it with 2FA authentication per SMS?

Kind regards from Holland. 

[Seetheummerallyeah]

I think you are getting confused at something, as you do not need to create an API key to use 2FA with Google Authentication. In fact I recommend NOT using SMS 2FA as it is possible for hackers to spoof your SMS #. Google Authenticator is the best way to secure your account on Binance.

[hacker1001101001]

There are two different security features in Binance for Google Authentication and SMS Authentication.

For Google Authenticatior:

You need to copy a key generated on the Binance itself and an another key from the Google Authenticatior.

And paste it back there and you are done with it. Next time you login it will ask for an Google Authenticatior verification.


For SMS Authentication:

You just have to put in your phone number there and you will instantly receive a verification code via SMS.

Next time you log in it will ask for SMS verification.

Note: You can keep both of them ON for extra security.

[DdmrDdmr]

<...>

Binance APIs are a mechanism through which you or a third party software (such as a Trading bot) can interact on your behalf with your Binance account. This can be either in read mode or in read/trade mode. If that is not your intention, never retrieve API data to your account, since it may fall into the wrong hands and compromise whatever crypto you have stored there. The API feature has nothing to do with Google Authenticator.

If you are going to use 2FA to protect your personal access to the Binance site, take a look at Authy too, since it provides some advantages such as online encrypted backups (which some may also see a a disadvantage). See for example 2FA - Important Precautions with Google Authenticator.

[khaled0111]

As DdmrDdmr explained, you don't need to create an API key to be able to loggin to your Binance account. You have to enable 2fa via SMS or Google Auth or both of them for extra security.

You need the API key when you need to interact with data on your account in real time via a third party app (website, bot...).
If you chose to create the API code, then enabling 2fa becomes a must.

[jademaxsuy]

Some sites had 2FA feature and the option by using sms does not require any application needed for you to run it. It is just that 2FA featured in that site is already good to go. Do read the instruction again and see where you went wrong. I doubt that you did not get it right for it has made more complex on your part doing 2FA.