Follow our handy guide to set up 2-Factor Authentication for your Coinsquare account.
Coinsquare takes client security very seriously, and we value client awareness and engagement with our security standards. In addition to the numerous behind-the-scenes security protocols Coinsquare has in place, we recommend that you set up and enable 2-Factor authentication for your account immediately.
Enabling 2FA using an authenticator app
Setting up two-factor authentication for your Coinsquare account is quick and straightforward. All you need is your phone (or desktop) and an authenticator app which generates a one-time code for you to use every time you sign in. Coinsquare recommends using either Authy, Google Authenticator or Microsoft Authenticator, which are available for both iOS and Android devices.
What is 2FA?
If you are unsure what 2FA is, you are not alone. “2FA”, which stands for 2-Factor Authentication, is exactly what it sounds like: customers are required to provide two factors of authentication when verifying their identity to access an account. Typically, most platforms will only ask for one-factor authentication, usually in the form of a password. Coinsquare’s second authentication factor (in addition to a secure password) is a security token generated by an authenticator app. Some other examples of authentication factors (which are usually used in 2FA systems) include biometric factors – like fingerprints, facial and voice recognition, time factors such as a restricted login window, or location factors such as logins limited to specific devices or IP addresses.
Coinsquare’s recommended 2FA apps require users to download a trusted authenticator app, which, once activated for your Coinsquare account, will provide you with a 6-digit code that will update every 30-60 seconds. By using a 6-digit code in addition to your password, two-factor authentication is achieved for additional security.
Setting up 2FA on your Coinsquare account
- See here for instructions on how to set up 2FA with Google Authenticator
- See here for instructions on how to set up 2FA with Authy
- See here for instructions on how to set up 2FA with Microsoft Authenticator
Once you’ve set up 2FA on your account, make sure to always leave it enabled for continued security. Additionally, you can also use a password generator. A password generator is a tool that automatically creates a password for you, based on criteria that you set for it. Usually, you can set up a minimum length (e.g. 12 characters), and you can include uppercase, lowercase, numbers and symbols. Once you have your criteria, the generator should generate a complex password for you to use. If remembering this password seems overwhelming, you can use a password manager (like LastPass) that will remember your complex passwords for you, and make them available on your other devices.