Two Factor Authentication (2FA) is an additional layer of security where a user provides two different authentication factors to verify themselves. 2FA is often used to protect the user's credentials, information, and any resources within the system (such as Paxful’s platform). Only the user can access their specific 2FA alert, and these alerts are sent as an SMS to the user’s phone or Google Authenticator (GA)
This is a secondary layer of security to safehold your account. With an authenticator, you receive a code to your device, which you will need to input to log into your account (or complete any trades).
There are several different types of authenticators or 2FA methods you can use. The three options are:
- Google Authenticator (GA)
- Twilio Authy
Although you can enable 2FA via SMS, it is not always reliable because of a prevalent hacker tactic called “SIM swapping”. This is when hackers can get a hold of your SMS messages.