How to use Google Authenticator (2FA) for security on crypto exchanges.https://www.coinbase.com/join/59822673ccf6e4018f44c969
This is basically another step you need to go through just after you sign up, and I wanted to make the video because it’s a bit of a headache really. The first time I saw this done, I just thought “oh no… what’s all this” but it’s not too bad actually once you get into it.
It's basically a way to bypass that old need to get a text message every time you log into your favourite sites - that's become a lot more common in recent years, and it can also be a bit of a hassle. So, along come this new generation of security tools, and I think they, or thing much like them, are here to stay.
As usual, they've gone to great lengths to make it simple for us all -
for instance, instead of having to type in a secret key, they just let you scan a QR code now, and it does it automatically. It's really touches like that which take the edge off these things, and make a lot less difficult than could otherwise be...
The app replaces SMS 2sv methods and creates another layer of security using the TOTP algorithm, which stands for Time-Based One Time Password... It shows a 6-digit code on your phone, which changes every 30 seconds. Enter the code that's on your screen at the time (when prompted by Coinbase) and it verifies that you are who you claim to be... The codes can't be used twice - hence the "One Time" in the name.
So, once you install this on the exchange, you'll no longer get any text messages from them (well, at least not security-related ones) It totally takes over that function. You can also use this app with lots of different exchanges - you can have different accounts, with different email addresses all stored on the one app on your phone, which make things a lot simpler.
Usually I trade on Etoro, which is a social trading website (and copy trading) but I’m branching out in my search for the smaller ‘altcoins’ which aren’t available there. This is the second video in a series showing how to start right from the beginning - buying digital assets, setting up the best security, transferring the assets to a secure wallet, and finally trading them for the Altcoins. It’s a bit of a process... The next video I make is going to be about actually buying the Bitcoin, and then, after that, I'll be introducing the Exodus wallet, which is the one I'm using at the moment, and then showing how to actually move your assets into it for safekeeping and monitoring.
Here's my beginners playlist for that site: