What is Two-Factor Authentication (2FA)?
Two-factor authentication (2FA) is a security measure requiring two different verification methods to access an account — typically combining something you know (password) with something you have (device/key).
WHY IT MATTERS
2FA is the minimum security standard for any crypto-related account. Exchanges, wallet apps, and DeFi frontends that support login should all use 2FA. A stolen password alone can't compromise a 2FA-protected account.
2FA methods ranked by security: hardware security keys (YubiKey, best) > authenticator apps (Google Authenticator, Authy, good) > SMS (vulnerable to SIM-swap attacks, avoid for crypto). Never use SMS 2FA for exchange accounts.
For developers building crypto applications, supporting hardware keys (FIDO2/WebAuthn) and TOTP authenticator apps should be mandatory. SMS should be a last resort or disabled entirely.