Two-factor authentication: what, why, and how


The examples presented in this article are only to be regarded as a technical demonstration when used with the trading system. Accordingly, these examples should not in any way be construed as a recommendation for any type of trading strategy and they do not constitute any form of advice as to the advisability of investing by the use of any trading strategy. Any Investor who uses a trading strategy must build a trading strategy on the basis of independent testing and according to their specific requirements and needs.

Today, tech is everywhere. New apps, gadgets, and sites are popping up left and right. It’s exciting, it’s fast paced, it’s the future, and it’s, for the most part, super sexy.

But sometimes, the least sexy stuff is the most important. And nothing is less sexy than cybersecurity.

When it really comes down to it, though, our privacy and safety depends on this largely invisible, underlying tech. Without reliable security, it’s all-too-easy for criminals to access potentially damaging information.

And while a straightforward username password combination used to be a “reliable” security measure, these days it doesn’t cut it. That’s why more companies are switching over to  “Multi-Factor Authentication”, or “Two-Factor Authentication” to protect their user’s sensitive data.

What is multi-factor authentication?

As a phrase, “multi-factor authentication” sounds like it’d be highly technical. But pick it apart, and it’s more or less exactly what the individual words imply — you’ll authenticate your identity using not one, but multiple different factors.

Typically, it’s a two-step process referenced to as 2FA, with step one as the usual username-password combo, and step two as a security question, text message, or another difficult-to-replicate-or-guess security measure. Oftentimes, it requires access to another physical item, like a cell phone (see: text message). This kind of multi-device requirement makes it especially hard for bad actors to get their hands on your account.

The Capitalise Platform is 2FA strong.

We do understand that 2FA can be a bit of a headache. (Like when your phone is charging in the other room and you actually have to get up from your desk to sign into your account.) So, we’re not going to force you to use it. That being said, we do offer it — and we do highly recommend opting into it.

Our 2FA process is pretty standard. It’s just a few simple steps.

  1. Login the Capitalise Platform, navigate to the “hamburger menu” (top left) and select “2FA Settings”
  2. There you will see a QR code, which will change every 30 seconds.
  3. Download the 2FA app on your phone (for Android here and for iOS users here) click the + sign for adding a new account.
  4. Scan the QR code.
  5. Enter the code provided by the 2FA app along with your account password.
  6. Boom! You’re ready to go. Now, you’ll have an added layer of security every time that you sign into Capitalise.

Note that you’ll have to go through step five everytime you sign into the Capitalise Platform. However, you’ll have the option to verify your computer for seven days, in which case, you’ll only have to sign in via 2FA one time per week.

As experienced technologists, we understand exactly how important security is for the success and safety of our users. That’s why we’re fully committed to providing you with the best technology has to offer and we’re giving our all to keeping your sensitive information out of the wrong hands.

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