Two-factor Authentication:
Significance 2FA adds an extra layer of security to your exchange platform. Cyber-criminals indulge in various social engineering activities and can hack your users’ IDs and passwords with the help of the internet. However, 2FA prevents cyber-criminals from accessing your users’ accounts, thus providing appropriate measures to safeguard their accounts.
A traditional example of 2FA
Two-factor authentication has been in practice for a long time. For example, a bank locker – if you want to operate your bank locker, one key is held with you and another is with the bank. Both the keys (with you and your bank) are required for you to access the valuables in your account.
Working of Two-factor authentication
The working is not that complicated, as it may sound. User ID and password will remain the same while signing in to the best white label crypto exchange or a customized crypto exchange, but only an extra step is required to safeguard the funds. It may be in the form of OTP (One Time Password) that is sent onto your mobile phones or an app like a Google authenticator that verifies the authenticity of a user. This additional information needs to be inserted after your users enter their required credentials into the exchange login.
Thereby, the users should make sure to never share their email password, mobile password or any other piece of code with anyone, as it would enable the cyber-criminals to get a hold on your users’ accounts.
If you are planning to build your crypto exchange, we can provide you with a highly-secure platform integrated with market-leading security features. Whether you need to white label exchange or want to build a custom crypto exchange from scratch, we deliver a secure solution that aligns with your business requirements.
Schedule a free demo of our white label crypto exchange or connect with our subject matters experts to share your requirements for a custom exchange or get expert advice on anything related to crypto exchange.
To read in detail, visit our blog " Integration of 2FA into a White Label Crypto Exchange "
Comments
Post a Comment