THE BEGINNERS GUIDE ON HOW TO KNOW & SET UP 2FA ON BINANCE, LOCALBITCOINS & 500 TOP CRYPTO EXCHANGES
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MY BIGGEST MISTAKE
How to set up 2fa on Binance, LocalBitcoins & 500 world crypto exchanges, how realistic?
Well, that is the same question I would have asked myself if I were in your shoe.
Yet, one thing stands before the process. Although we have a great tool to use instantly, still, I will tell you what you need to know in a short while.
As we know, even after featuring the top secure exchanges, you want to use a great tool that will secure your accounts. And one of the great tools is Google Authenticator. But yet, there are others that are viable and versatile should you want to stretch out.
For an example, you can either go for a two-factor authentication using sms, email, or even a hardware like Yubikey. Sure, sms is a great option but you want to avoid sms authentication at all means if at all you have other options.
This post will take yo about 15 minutes to go through all the in-depth analysis. So, you may skip to the set up steps, else, let’s go on.
- 1 WHAT IS TWO-FACTOR AUTHENTICATION?
- 2 HOW TO SET UP 2FA ON BINANCE, LOCALBITCOINS & 500 WORLD CRYPTO EXCHANGES USING GOOGLE AUTHENTICATOR
- 2.1 HOW TO SET UP 2FACTOR AUTHENTICATION USING SMS?
- 2.2 HOW TO SET UP 2FACTOR AUTHENTICATION USING GOOGLE AUTHENTICATOR?
- 2.3 Common Places To Find 2FA Security Centers
- 2.4 HOW TO SET UP 2FA ON LOCALBITCOINS EXCHANGE USING GOOGLE AUTHENTICATOR
- 2.5 HOW TO TAKE A SCREENSHOT ON ANY DEVICE
- 2.6 HOW TO SET UP 2FA ON BINANCE EXCHANGE USING GOOGLE AUTHENTICATOR
- 2.7 HOW TO STORE YOUR PRIVATE KEYS
- 2.8 HOW DO I LOG IN WITH TWO-FACTOR AUTHENTICATION?
- 2.9 HOW DO I USE MY BACKUP CODE?
- 2.10 HOW DO I DISABLE TWO-FACTOR AUTHENTICATION?
- 2.11 LAYING IT DOWN
- 2.12 CONCLUSION
- 2.13 IT'S NOT TOO LATE.
WHAT IS TWO-FACTOR AUTHENTICATION?
2FA: this means two-factor authentication.
Two-factor authentication as the name implies is a two-layered security option that you set up on your accounts before a transaction can take place. That is to say, it makes sure that you really give a double approval of any transaction on your accounts before it can be processed.
More explanation on how it works.
2-FA is more secure because it requires two sources of verification: something you know (your password) and something you have (your phone). Gaining access to both is much harder for hackers to accomplish, that is why I am doing this for you (proof as we go on).
TYPES OF TWO FACTOR AUTHENTICATION METHODS
1. Hardware 2FA
3. Email, and
THE SAFEST TWO FACTOR AUTHENTICATION
The safest Authenticator tool is the hardware. About the hardware tool, a flexible hardware tool is Yubikey. But it is not by any means free. So, you want to move to the second in rank – the Google Authenticator or Authy.
The third is Email Authenticator and the last the sms.
Which 2FA Should You Avoid If Need Be?
If you are provided with great options to choose from, please avoid the sms authentication because it is the most vulnerable. Yet, it is advisable if only you don’t have a choice – I started with it myself.
HOW DOES IT WORK?
When you sign into your cryptocurrency account with two-factor authentication enabled, you’ll receive a prompt for an additional code. You can retrieve this code from an “Authenticator” app or from a text message (if you use it, however).
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HOW TO SET UP 2FA ON BINANCE, LOCALBITCOINS & 500 WORLD CRYPTO EXCHANGES USING GOOGLE AUTHENTICATOR
How can this be possible on 500 crypto exchanges? Simple.
To tackle all of them, we have to attack from a commonplace known as the security center. From there, we can easily see how to go about setting them up.
Let’s see a typical example.
On how to go about it, do not worry, I will enlist the sources. This is it.
Now, since I will be featuring just two tutorials, what you have to do is follow the steps below and activate it on any exchange of your choice. Don’t worry, should you not want to use Google Authenticator, I will also feature the SMS method as well – you’ve got to get involved!
HOW TO SET UP 2FACTOR AUTHENTICATION USING SMS?
All you need to do is follow the steps below.
Step 1. Go ahead and Log into your crypto exchange account on your phone.
Step 2. Look out for the settings icon on your account/dashboard.
Step 3. Click on the “Settings” tab.
Step 4. Then Tap “Two-Factor Authentication.”
Step 5. Toggle the feature to the “On” position. ( if available like on Robinhood)
Step 6. Tap on “SMS.”
Step 7. Confirm your telephone number, and you will receive a backup code. That is all.
HOW TO SET UP 2FACTOR AUTHENTICATION USING GOOGLE AUTHENTICATOR?
First of all, you will need to download your preferred authentication app. Here are a few:
Install the App, then go ahead and follow the steps below to set it up.
Step 1. Log into your crypto exchange account on your phone.
Step 2. Tap on your account icon in the top left or right corner. (Usually left)
Step 3. Tap the “Settings” tab.
Step 4.Tap “Two-Factor Authentication.”
Step 5. Toggle the feature to the “On” position. (If available)
Step 6. Tap the app you’d like to use.
Step 7. Copy the key that will be sent into your authentication app.
Step 8. Confirm the verification code generated by your authentication app by entering it into the crypto exchange when prompted. You’ll also receive a backup code.
Step 9. Copy your Back up code, screenshot and save in a reliable place.
Okay, that should definitely help you out on any other 498 crypto exchange we won’t feature.
Common Places To Find 2FA Security Centers
Just to stress out a little more, to know how to set up, and the roles of some of the exchanges, then you may need to check them out individually, but just to bring it closer, see below.
• On Blockchain.com crypto exchange, you will find it at the SECURITY CENTER.
• On Coinbase crypto exchange, you will find it under SETTINGS and down to security page
• On Bittrex crypto exchange, you will find it immediately you login to your account – your DASHBOARD.
• On Changelly crypto exchange, you will find it under your TOOLS area.
• On Cointal crypto exchange, you will find it at Security under settings.
Should you need more help on this, please check out the Top Security Exchanges with 2FA (if you’ve not seen). Else, let’s get on.
I just discovered another way hackers can use and upturn your online accounts.
You don’t have to be my reader to get that. Don’t worry, I will write about it later but for now, go ahead and open a Proton Email account – if you don’t have one. Check also Part 1 of Crypto Wallet Management.
If you don’t want to miss out, you can still join others below.
We will start with LocalBitcoins.
Localbitcoins is a universal peer to peer bitcoin exchange that gives everyone the opportunity to trade bitcoin.
Based in Finland, over the years, LocalBitcoins has grown to be a giant as single purpose – Bitcoin exchange worldwide.
The unique thing about LocalBitcoins is what they offer…
You can just imagine the ease of withdrawing BTC to FIAT and buying bitcoin using your local currency with other viable payment options.
It may seem as no string is attached using your local currency, but yet, it is a great opportunity to trade with so much peace without running to Google for conversions.
HOW TO SET UP 2FA ON LOCALBITCOINS EXCHANGE USING GOOGLE AUTHENTICATOR
Step 1. Install Google Authenticator tool on your mobile device.
Step 2. Go to LocalBitcoins.com/Sign Up and create an account.
After that, sign in (if you are already on).
Step 3. Click on the Human Image drop down Tab at the top right corner.
Step 4. From the drop down, click on Account Security : your account security status will show forth.
The red status means you’ve got to do something about it.
Step 5. On the next page, Tick on Enable two-factor authentication.
Step 6. Choose your mobile option. Mobile app or Paper Code. You may want Paper code, but for the purpose of this tutorial, I want to use Mobile app (a better recommendation).
Step 7. Tab on “Proceed to activation Button”.
Step 6. On the next screen option, your Back up code will be shown. Please write it out – a better alternative is to screenshot it. I will tell you where to keep it later on.
I will pause here.
I hate negligence because myself I have fallen for it with a cost. So, in order for you to avoid it, see what I want to do. I will show you how to do it from start till finish.
HOW TO TAKE A SCREENSHOT ON ANY DEVICE
Slide your three fingers at once on your screen to screenshot (if enabled on your phone), else, Press and hold both the Upper Volume and the Power button knobs at the same time. That will do the work.
Press and hold the Power button on the right side and click the Home button at the exact same time.
On PC, press and hold Home + ins prt sc keys on your keyboard. If it is HP Pavilion G6, the key is the 5th from the left hand side among the top keys.
1. Press Shift-Command-4.
2. Move the crosshair to where you want to start the screenshot, then drag to select an area. …
3. When you’ve selected the area you want, release your mouse or trackpad button. …
4. Find the screenshot as a .png file on your desktop.
On Mozilla Browser
Click on the Three dots on your top search bar. The next screen will show the options.
Go ahead and tab the Take a Screenshot button.
Select the space you want to capture (your Back up code as displayed on your crypto exchange account). If need be, use your mouse pad to extend the capture area. Next, click on Save. And that will be all you need to do.
Note: If you do not see same options, it may mean you are using an old version of Mozilla browser, so, you might consider using the latest version or other options below.
On Chrome Browser
If on Chrome, you may need to Install Screen Capture extension by Google. Steps below.
1. Go to the Chrome Web store and search for “screen capture” in the search box. …
2. Select the “Screen Capture (by Google)” extension and install it. …
3. After installation, click on the Screen Capture button on the Chrome toolbar and select Capture Whole Page or use the keyboard shortcut, Ctrl+Alt+H.
If you don’t get any of the aforementioned, see below.
If all the options on computers are not working for you, then consider the last resort. Use the JING tool. It will capture everything you need – it’s free.
Alright, that is all you need to do to avoid the negligence of screenshoting your Back up code.
Step 8. Launch the Google Authenticator app. Like mine, if you already have other accounts on it, Click on the plus sign.
But if not, click on Begin.
Step 9. Choose the Scan a Barcode option. Note, you might use the other option if that pleases you.
Use your mobile device and scan the QR CODE (Hash code) shown on your account. Make sure to center it for full capturing.
When Once the QR code has been scanned or the key has been approved, you will now see your LocalBitcoins account successfully added to the list of accounts inside your Google Authenticator app.
🙄 This is how it show on your app – Your [email protected]
Now, you will get an Authentication code if you actually centered it correctly. 😎
Step 11. Enter the code shown on your Google Authenticator. Note: if the code suddenly disappears, no need to worry, give it time to revolve again, and you will get a new code.
Step 12. Enter the code from your app and Click on Enable two-factor authentication on your LocalBitcoin account.
When you click on Enable, if successful, you will have the result below.
That is all.
How To Really Verify That Your Account Is 2fa Protected?
Step 1. Log out from your LocalBitcoins account.
Step 2. Try to Log in again. After you enter your username and password, you will see a prompt to enter your SIX digit codes.
Don’t look further. That is a confirmation that your account is 2fa Protected.
Now go to your app and copy the code. Paste them in the space provided and click on Verify.
Other Security Steps
If you want to add more security layer to your LocalBitcoins account, consider the ticking the following boxes on your security section.
Should you want to change other personal data options, go ahead and fine tune it the way you want.
How To Disable 2FA On Your LocalBitcoins Account
Step 1. Still in you security area, click on Back to Account security. The next screen will give you an option to disable it.
Step 2. Enter the code as shown on your Google 2FA app.
Step 3. After entering, go ahead and tab the Disable knob.
Note: you might have to wait for some time for it to be processed (the whole process of disabling it I mean).
Should you need more help on anything, do well to check out their Help Section.
The next is Binance crypto exchange.
Want to be inquisitive?
Binance like LocalBitcoins is a flexible universal exchange where you can find almost all the coins as listed on Coinmarketcap.
So, if you want to buy only Bitcoin, you can always use LocalBitcoins. But if other coin pairs, you want to work with Binance – a great place for crypto traders.
If you were afraid to trade on Binance because of the regulation issues they had with country of residence, it is worthy to note that Binance moved to one of the Top 35 Bitcoin/Blockchain Friendly Countries.
HOW TO SET UP 2FA ON BINANCE EXCHANGE USING GOOGLE AUTHENTICATOR
Step 2: Install it.
Step 3: Go to Binance crypto exchange and create an account. Observe below.
After that, log into your exchange account.
Step 4: Enter your Email ID, Password and click on Login.
Step 5: Go ahead and complete a small puzzle (as will be shown) by dragging a piece to the right-hand side to fix. (A mark that you are truly a human and not a bot).
Step 6: Once you are logged in, on your account dashboard, go over to the profile icon in the top right corner – click on it.
Step 7: Click on account.
From there you will see the 2FA status – enabled or not. You can also find the options sitting right on the accounts page in the right-hand panel.
Step 8: Choose your preferred authentication tool. I will work with Google Authenticator because it is the safest.
Step 9: Click on the ‘Enable’ Tab in front of Google Authentication then move to the next step as shown below.
Step 10: Having installed the app, go ahead and launch it. Click on Begin.
A prompt will show forth for you to Add an account. To add an account, you have two options. You can either use the Scanning a Barcode or Entering a provided key method.
I don’t know what may interest you, but I think using the Scanning a Barcode method will make your day.
Step 11. Click on Scan QR code. Now, you will now be able to see a QR code along with a key.
Step 12. Launch the Google Authenticator app. Like mine, if you already have other accounts on it, Click on the plus sign.
But if not, click on Begin. (so that you can add the exchange into it).
Step 13: Go ahead and Scan the QR code through the Google Authenticator app on your smartphone by selecting the option Scan a Barcode.
Step 14: When Once the QR code has been scanned or the key has been approved, you will now see your Binance account successfully added to the list of accounts inside your Google Authenticator app.
This is how the list will show – Binance.com (your email address) 😎
Note: You can also authenticate by entering the provided key.
Step 15: Enter the 6 digits code as shown on your Google Authenticator app. However, if it rotates completely, wait for it to begin revolving. Having entered it, go ahead and click on Next Step.
Step 16: If a 16 digit key shows up, know what you followed to steps correctly. Now, the exchange will ask you to write the 16-digit Key down on a piece of paper.
Go ahead and save this key somewhere safe because it will be the gateway to accessing your account should you lose your phone, need to reset the Google Authenticator, or even want to set it up on a new mobile device.
Believing that you have copied and Screenshot the 16 digits (a better recommendation soon). Click on the Next Step tab.
You will need to enter your Key in the space provided, and your Login password, and again your 2FA Code on the Google Authenticator app to finally Enable Google Authentication
Congratulations. 2FA is up and running on your Binance account.
Since you have successfully integrated a 2FA, when once you want to access your Binance crypto account, you will be asked to enter your 2FA code. And of course, you can find it on the Google Authenticator app on your phone.
All you need to do is copy them, paste and click on Submit.
To test out, see below.
Go to the website (Binance) again. Login with your password and enter the 2FA Code on the Google Authenticator, enter the code that is given there in the empty Google authentication space, and click on Submit.
Congratulation. You are done!
Safeguard your backup code.
Like I said earlier, you want to write it down on a paper, screenshot a copy to your Dropbox or a password manager.
This is what Lilszi had to say,
“You always get a backup code when you are setting up 2FA. If you don’t have it, switch it off, and set up again. You will see the code next to the QR code. It’s one of the steps when you are setting it up.
“Please save this Key on paper. This Key will allow you to recover your Google Authentication in case of phone loss.
Resetting your Google Authentication requires opening a support ticket and takes at least 7 days to process.”
I hope the above clarifies everything.
So, Keep in mind, if you ever lose your phone, you can use this backup code instead of the one that the crypto exchange will send to you via SMS.
HOW TO STORE YOUR PRIVATE KEYS
The first thing you want to do is copy it, then screenshot, and transfer it to your secure crypto vault. I recommend a cloud-like storage like Dropbox, your email, if it is 2fa protected, and ultimately a password manager – it is free – RoboForm or Lastpass
HOW DO I LOG IN WITH TWO-FACTOR AUTHENTICATION?
Once you enter your valid username and password, you’ll be prompted for an authentication code. Open your authenticator app and copy the code it provides. Enter it correctly in the crypto exchange app and they will log you in.
Your crypto exchange will send you a two-factor code via SMS once you enter your valid username and password. Enter it correctly and they will log you in.
HOW DO I USE MY BACKUP CODE?
If you lose your phone and need to use your backup code, you can simply enter it into the login screen after your username and password.
On some crypto exchanges, using your backup code will automatically disable two-factor. So, you’ll need to turn it back on to continue using it.
HOW DO I DISABLE TWO-FACTOR AUTHENTICATION?
Like I said, this can vary, in some exchange, to disable it, it may require a 24-hour review or even 7 days. But for some that may be easy (instantly), see what you have to do below.
You can disable two-factor by following these steps:
1. Log into your crypto exchange account (possibly on your phone).
2. Go ahead and Tap the Account Icon in the top left or right corner.
3. Tap the “Settings” tab.
4. Tap “Two-Factor Authentication.”
5. Toggle the feature to the “Off” position or Disable– switch it off.
LAYING IT DOWN
It is of earnest truth that setting up 2fa authentication set up sucks. So, I won’t be surprised if you actually procrastinate about it, after all, I was there.
See what sucks more. Compiling the tutorial took many hours. And the post itself should be a divided into 2 or 3.
But the truth?
You have to do this just once, and that is all. Just follow through.
How many hours did it take me to complete this tutorial?
Who cares if it took me 6 hours to research and compile it. What I care, and you should also is to take action and set it up. Yes, that will make my time invested in it worthwhile. : 😯
If you think that setting this up is like a Bruce Lee fight with the boss, use a hardware crypto wallet.
A recommended is using the hackers wallets.
After 15 hours in the Cryptocurrency Lab, this is THE BEST VERSION OF BITCOIN POST IN 2018 FOR CRYPTO NERDS.
If you procrastinate to set this up. Know that I totally understand. I was there. But, between your comfort zone and negligence, do not get screwed with your coins.
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Great, you have seen HOW TO set up 2fa on Binance, Localbitcoins & 500 crypto exchanges using google authenticator & sms. The question now is, when will you set yours up, and if already, what can you say about the importance of Two-factor authentication?
Give yourself a pat on the back if you REALLY understand this subject by commenting below.
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IT'S NOT TOO LATE.
Ref codes: Robinhood.com, Coinsutra.com