2fa security

SHARE
← Back to articles
SHARE

Why 2FA Security Is Vital For Your Wirex Account

September 19, 2017 11:52 am Published by

For as long as we can remember, we’ve used passwords to access everything. We have passwords for our social media accounts, our emails, our online banking. It can be hard remembering all of these different passwords. And whether we like to admit it or not, sometimes our passwords are not the most complex.

We often forget all the sensitive information stored in our emails. If ever compromised, our privacy and data can be exposed, making our online identity very vulnerable. Unfortunately, even the amateur of hackers are getting better at breaking passwords.

Many scammers attempt to steal cryptocurrencies one way or another, such as phishing scams where emails or websites pretend to be sent from a company, sending the user to a fake account, where the password is stolen and used to access the real account. Crypto stolen.

Bitcoin wallet security is crucial. Securing your financials is our top priority so we have taken the extra precaution of adding 2FA to all Wirex accounts.

From today, you will need to enable 2FA on your Wirex app in order to make BTC transfers to anyone. This is to ensure no one else is spending your BTC.

How will 2FA protect you?

Two-Factor Authentication (2FA) helps add maximum security to the way you access your account. It requires both your password and your phone to log in and make transactions.

When you log in with two-factor authentication enabled, you will need to enter your password and a unique code generated on your mobile. This adds a second layer of protection on your account. Even if someone knows your password, they won’t be able to access your account without also having your phone.

2 Steps is a tiny effort for peace of mind and top security

We understand it can get a little annoying when asked to prove yourself with two-factor authentication every time – but it’s better safe than sorry.

It takes less than 5 minutes to set up and 2 minutes to complete the login process.

Read our FAQ on how to set up 2FA on your Wirex account

Extra security tips

It is crucial to have your own security measures in place to secure yourself from potential losses. Here are some basic personal checks to reduce the chances of your account being compromised:

  • Managing your devices – Control the devices that can access your Wirex account. Protect your account by monitoring your login activity with the devices you own to ensure it is you. Manage your devices in your account settings.
  • Securing your email account with 2FA – Emails are often the gateway to other online activity. Protect this sensitive information by setting up 2FA on your emails.
  • Using unique passwords for all online accounts – A strong password should be at least 8 characters and contain a mix of letters, numbers and symbols in upper and lower case. Avoid using your name, username or something easily identifiable. Remember to use different passwords for logging into different sites and change your passwords regularly.
  • Using a secure internet connection – If you are using a home wireless network, make sure this has been set up securely. If you are using a third-party network, ensure you only use a trusted and secure wireless network connection.
  • Operating system/web browser – An up-to-date operating system/web browser will help protect you against security threats such as malware.
  • Beware of malware – Spyware is a form of online snooping. An up-to-date anti-virus/anti-spyware/anti-malware can monitor online threats and protect your details while browsing online.

Whether you have two-factor authentication activated on your account or not, if your phone is missing or you believe your account may have been compromised, contact our support team as soon as possible to have your Wirex account temporarily blocked.

What Can Cryptocurrency Technology Give Us?

Blockchain has become the word du jour – but if you think it relates to a marathon run of Tetris, think again. Blockchain is the tech that underpins cryptocurrencies, and very clever it is too – so clever in fact, that utilising it to its full potential could change the way we manage society in the future…. View Article

The Benefits of Transparency: How Bitcoin & Blockchains Could Change The World

Like most people, you probably have a lot of unanswered (or unanswerable) questions about the financial system. How do we set the price of gold if we don’t know how big the supply is? What’s the point of saving money for the future when inflation will devalue it with each passing year? Why are we… View Article

Why Do Banks Exist? Do We Still Need Them?

Banks are one of the most polarising topics around. Like any business, banks exist to make money- and they’re good at it. The fact they do this using our hard earned money is a sore point. Most people view traditional banks as faintly villainous and we’re quick to blame them for economic issues. Despite this… View Article

Bitcoin Vs The Dotcom Bubble

There has been a lot of debate lately about how Bitcoin compares to the dotcom bubble. Both involve new technology and rapidly increasing prices, so it’s no surprise comparisons are being drawn. Let’s take a look at exactly what bubbles are, and the similarities and differences between Bitcoin and the dotcom bubble. What is a… View Article

Hi! New to Bitcoin? Get The Wirex Bitcoin Confidence eBook