The standard security procedure of punching in your username and password is not secure enough to protect sensitive personal and financial data from increasingly sophisticated criminals.
There are a number of intricate methods to secure your assets and information, like using hardware or external devices, but the Two-Factor Authentication (2FA) is regarded as a simple and basic approach.
What is 2FA?
An essential and easy way to add an extra layer of security to your online transactions is through a two-step verification process. This second step can be completed in numerous ways like using an external device to authenticate a transaction or typing in a One-Time-Password (OTP) received on your personal mobile number.
This process essentially makes it difficult for criminals to commit fraudulent acts as another piece of personal information is required to authenticate the transaction within a time-limit.
What About Securing Your NOIZ Wallet?
Consider the NOIZ wallet — a key element in the NOIZ ecosystem. It has many functions:
- Advertisers can login to their portal and use tokens to create new advertisements
- Publishers can use their wallet to accept advertising requests or invite advertisers to their publishing platforms
- Consumers can use their wallet to login and accept data request from advertisers or publishers in exchange of tokens
It is, therefore, crucial to keep your wallet safe. ERC 20 wallets, which are compatible with the NOIZ wallet, often use Two-Factor Authentication. After you log in with your password, there is a secondary method of authentication such as an SMS, email or Google Authenticator verification.
Google Authenticator is one of the most secure 2FA systems and a recognised method to keep your wallet or exchange safe. If you decide to use the Google authentication method, you should always keep a backup of the QR code and the 16-digit key that is provided to you. You can either conceal the above items on your electronic device(s) or print it out to keep it safe. In case you lose or change your device, you can simply scan the saved QR code or enter the 16-digit key on your new device.
Alternatively, email verification might be a good choice for those who are concerned about losing their designated devices or do not want to disclose their phone numbers. For email 2FA, it is recommended that you make a separate email account for your wallet and not share that email ID with anyone. Once a 2FA code has been used and is not required anymore, you should delete that particular email.
It is not recommended to use SMS as a 2FA. The SMS may get delayed or fail to deliver — causing you to be locked out of your wallet. This can disrupt any exchange you want to make, and you will need to seek help.
Although 2FA is an extra-step, it is an easy method to add an additional layer of security to protect your private identity and financial data!
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