What is the use of Two-Factor Authentication?
A Two-Factor Authentication is a security protocol that adds an extra verification step using a smartphone. It is used to heighten the safety of an account.
What are the two verification steps?
The first verification step is the standard username and password. While most online payment systems stop at that, MegaTransfer employs Two-Factor Authentication. The second verification step requires the user to input a single-use six-digit code by scanning a QR barcode using a Google Authenticator app in their smartphone. Users can utilize multiple devices.
Why is the Two-Factor Authentication Important?
MegaTransfer recognizes the increasing cases of digital fraud. A hacker can get hold of usernames, passwords, and other private data which they can use to take advantage of the user’s account. Because of this, MegaTransfer recommends the use of Two-Factor Authentication. Having information that can only be acquired at the moment of login makes it much virtually impossible for intruders to get into a user’s account. So even if they have the username and password, it is worthless in accessing the user’s account without the verification code.