What are the best practices for setting up 2FA on my bitcoin wallet?

3 answers

• Dec 17, 2021 · 3 years ago
  One of the best practices for setting up 2FA on your bitcoin wallet is to use a hardware wallet that supports 2FA. Hardware wallets provide an extra layer of security by keeping your private keys offline and requiring physical confirmation for transactions. This significantly reduces the risk of your funds being compromised. Additionally, make sure to enable 2FA on your hardware wallet using a strong and unique password. This will further enhance the security of your bitcoin wallet.
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• Dec 17, 2021 · 3 years ago
  When setting up 2FA on your bitcoin wallet, it is important to choose a reputable and trusted 2FA provider. Look for providers that have a proven track record of security and reliability. Avoid using SMS-based 2FA as it can be vulnerable to SIM swapping attacks. Instead, opt for app-based 2FA solutions like Google Authenticator or Authy. These apps generate time-based one-time passwords (TOTPs) that are more secure and not susceptible to SIM swapping attacks.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we recommend using a hardware wallet with built-in 2FA support for setting up 2FA on your bitcoin wallet. Hardware wallets like Ledger and Trezor offer excellent security features and are compatible with popular bitcoin wallet software. To set up 2FA on your hardware wallet, follow the instructions provided by the manufacturer. Remember to keep your recovery seed phrase in a safe place and never share it with anyone. By using a hardware wallet with 2FA, you can ensure the highest level of security for your bitcoin wallet.
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