What is Two-Factor Authentication (2FA)
What is Two-Factor Authentication (2FA)?
Two-factor authentication (2FA) provides an extra layer of protection for your online accounts. When you log in to your online accounts, such as Facebook or Coins.ph, you would need to provide your username and password to access your account. Your password is something you know.
Related: 3 Reminders to Stay Safe Online
With two-factor authentication enabled, you would need to enter a code, either delivered to your mobile phone via SMS or generated through an authenticator app. Since the code is on your device, the 2FA code is something you have.
While an attacker might be able to remotely steal your password, it’s unlikely they’ll also be able to physically steal your phone. If an attacker can physically steal your phone, it’s unlikely they’d also be able to get your password. This makes your online accounts much better protected.
How to Enable 2FA on Coins.ph
Once you enable 2FA for your Coins.ph account, you will need to provide a 2FA code every time you log in or make a transaction (such as sending money). This helps us verify that you’re really the one logging in or making a transaction. Take note that you should NEVER share your 2FA code with anyone. (Read: 4 Tips to Send Money Safely Online)
Step 1: Download and install an authenticator app.
Go to the App Store or Google Play and download Google Authenticator or Authy.
Step 2: Log in to the Coins.ph Website
Step 3: Click on Settings at the upper right corner.
Step 4: Click on Enable 2FA.
Step 4: Request for a verification code. Once you receive it, enter the code then click Submit Code.
Step 5: Scan the Coins.ph QR code using your authenticator app to add it as a new entry. Then, enter the generated code. Click Enable 2FA.
That’s it – you have added another layer of security to your Coins.ph Wallet! When you log in or make a transaction, simply enter the 6-digit verification code from your authenticator app. Your authenticator app changes the code every 30 seconds (there is a timer on the lower-right side of the codes). See the full tutorial here
If you need help setting up 2FA for your account, you can send us an email at email@example.com or tap Send us a Message in your app. We will be happy to assist you!