1.4.1 What is two-factor authentication (2FA)

Two-factor authentication (2FA) adds an extra layer of security to your login details. It is a security feature which utilises “something you know” paired with “something you have”. The first of these is a password and the second is a physical device, either a mobile phone, tablet, computer or a YubiKey. Two-factor authentication provides much stronger security compared to using only a username and password.

We currently offer three different options to access your account via 2FA:

Google Authenticator / Authy App: These options utilise your phone number to verify your account with a One-Time Password (OTP). OTP is valid only for a single use and cannot be used again for authentication.
Further details on Authy: when applying for your account, choose the ‘Authy’ option and enter your phone number without the country code (e.g. 07712343456). You will receive an SMS asking you to download the Authy app and register your account with them. Once this is done, every time you log in to your account you will need to provide the OTP security token displayed in the app. For more information, visit the Authy FAQ: https://www.authy.com/faq.

YubiKey: This is a one-time password (OTP) generator device in the form of a small USB stick.
When applying for your account choose the “YubiKey” option and enter your YubiKey token. You will need to provide the security token generated by your YubiKey every time you sign in to your CoinFLEX account. You can purchase a compatible YubiKey on Amazon. FIDO U2F Security Key is not a compatible key. For more information, visit the YubiKey FAQ: http://www.yubico.com/support/faq/

If you have any questions about the setup of 2FA , please view our two-factor authentication FAQ section of our Security page.