Is there a 2 way factor for bitcoin and ERC20 digital wallet?

[Loye]

it is very good idea for security. bitcoin or other digital coin wallet make secure by using two way factor. it will be confirm you by text in your mobile phone. i think it will be safe us from fraud.

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[Haten1975]

you are right if digital wallet are use two way factor its good sign for digital currency. it will prevent the fraud. it is more effective for wallet security. i think they should use it.

[SlaveKing]

I think its better to try some how to put together the Google two Factor recognition to that. I tried it before it’s not that much difficult. I think google 2fa is the best.

[Jackolantern]

I think that you should check this but as for me it sounds not very realistic. I think that you should choose one way of using btc and the digital wallet isn't the best one. to my mind, it is better to use the hard one

[Froby]

we know bitcoin is the decentralized system and as per as i know two factor verification is applied in the centralized system. i think there are no two factor verification is applied.

[RehitUpon]

No there is no two way factor verification. two way factor is not secure for their site, it can not protect your wallet.

[WolfRisk]

Digital  wallet is very important part of crypto world. Because it's able to give the space to store your coin and tokens.

[Phlaser]

Google Authenticator isn't such a wonderful app as it lacks backup. In a situation where I lost my Secret Keys to all the platform on the GA, it implies that I may not able to access those platforms anymore. But with Authy (which is my favorite), with the back in feature,.you can always get back all 2FAs of your platforms as long as you remember your backup password rather than storing long lists of secret keys.

The Google Authenticator is an excellent two way factor. It is safe and secure and is user friendly at the same time.

[Candepoccus85]

Digital wallet are increasing day by day but all of them are not promising so be careful and find out the promising for being safe with your wallet.

[guybrushthreepwood]

You could just keep your eth tokens on an exchange that has 2fa settings if there are no other options available. Not ideal long term but if the exchange is a reputable one and they have 2f then I can't see why not, especially if you plan on trading them or selling them frequently.

A phone number could be which will be registered to that digital wallet and every time you will do transfer the process should ask a code that is being sent from your phone number in order to proceed.

Using a phone number and SMS as your 2FA is inherently insecure as thieves can quite easily get your phone number transferred to another SIN, rendering the entire 2FA meaningless. You are much safer using something like Google Authenticator.

Quite easily? It's not easy at all. For a starters you need to know many personal details about the user. Name, address, phone number most likely and then be clever enough to social engineer the company into sending out the new sim to you. It's doable and has been done before but it's not widespread for obvious reasons. Using a mobile phone verification is certainly better than nothing at all. The hackers would still need to know your password and pins etc as well.   

As far as I know, there is no 2 factor for Ledger wallets

The 2fa is the buttons on the physical device. Nobody can take your coins without you being present to put in the pin and confirm it physically.

[MarbleAlligator]

You can find many different ideas based on this but I think you can use Google authenticator because it will fulfill your requirement.

[Cybora9]

Based on this situation you can try Google authenticator it will solve the two factor authorizations and it is little bit slow but great to use.

[hugeblack]

I do not think your proposal will enhance protection, but on the contrary, it is easy to access your SIM service using SIM Swapping.[1]
This quote will give you more information

SIM swapping is a process of leading a telecoms provider like, say, T-Mobile transferring the target’s phone number to a SIM card held by the attacker. Once they receive the phone number, hackers can use it to reset the victims’ passwords and break into their accounts, including accounts on cryptocurrency exchanges.

For this reason, many platforms and wallets consider this type of protection to be low and ask you to enhance it in ways such as Google authentication.
Blochain.info web wallet can use your SMS message as a warning and protection if someone can access your account.
I'm not interested in ERC20, so I do not know about its wallets.

[1] SIM Swapping: How Hackers Stole Millions Worth of Crypto Via Victim’s Telecoms Operator

[samiraetn]

Bitcoin transfer with phn is useful and helpful method .There are some digital wallet for bitcoin we can store bitcoin assets with this wallet.

[diceoption.com]

Most wallets have 2fa

[Rojer1928]

if I think about bitcoin and ERC is one why it can be called one because bitcoin is stored in this wallet and you can try several ways to integrate the two Google Identification Factors for it, I tried it before, but I think this is possible. Google 2fa is the best.

[btcmaster999]

The two way factor authentication does not hold a major role in case of software wallets. The hackers can easily track your number and be able to steal your coins. It is better to use a hardware wallet like Ledger, Trezor etc for maximizing the security.

[BlackAngel999]

Use the Google Authenticator for the two factor authentication. Although it is a bit of a hassle of the connection of the internet gets slow, but it works.

[CryptoRaymond]

You can try something to integrate two factor detection. I have tried that before and I think this is somehow possible.I think Google 2fa will be the best one.

[cryptoVinc5599]

Phone numbers are not a safe option for verification as it can be hacked by the hackers and might cause us more damage. Google Authenticator will be a much safer option.