Bitcoin Casino Blog
What is 2FA and why is it so important? A quick guide on how to activate 2FA in Bitcasino
We all know how important internet security is these days.
The truth is that cybercriminals are getting even smarter, and if we don’t protect our personal information and financial data online, it’s a simple fact that we put ourselves at great risk of being hacked.
The good news is that security professionals out there are working hard on helping us improve our safety online, and one of their more recent innovations has been multi-factor authentication.
In a nutshell, this requires you to input two different elements when signing into a user account on a website. One of these “factors” will already be known to you (it might be a password or a PIN), and the other will be completely new – often, you will be presented with a text message that you need to enter.
Here at Bitcasino, we are determined to keep our players and their account information safe and secure when they play on our site. That’s why we provide a two-factor authentication (2FA) option for our players, using the industry-leading app that is Google Authenticator.
If you’d like to find out more, then don’t hesitate to read on.
Firstly, it’s important to note that 2FA is a sub-strand of multi-factor authentication, in which a user is only granted access to a website or account after successfully presenting two or more pieces of evidence – known as factors – that confirm their identity.
There are four main types of authenticating factors:
As you may have guessed, 2FA uses two layers of evidence to prove that you are who you say you are.
The most common application of 2FA is in the use of protecting users’ accounts, such as those that you set up at Bitcasino. In this way, you are guaranteed extra security, and it makes it almost impossible for hackers and fraudsters to access your personal and financial information.
Another example of 2FA is when you withdraw cash from an ATM. You need a live bank card and the correct PIN – without one or the other of these items, you will not be able to access your account.
Online, the most common form of 2FA is two layers of password entry. You may enter a user name and a password that are already known to you, and then the merchant may send you a secondary password via text message or email to enter as well. This is two-factor authentication in its most basic form.
The idea behind 2FA has been around for centuries: think of those numbered padlocks where the user needs the key and the correct combination to break the lock.
However, in this era of online fraud and identity theft, it has never been more important.
There are some alarming statistics regarding cybercrime, and the truth is that you shouldn’t think that you are invincible from becoming another victim.
In 2017, online fraud cost the world economy some $600bn – the sum of 0.8% of the global GDP! If ‘cybercrime’ was a country, this would make it the 13th highest ranked on the planet as far as Gross Domestic Product is concerned.
It is estimated that in 2018 cyber criminals raked in more than $1tn from their activities.
Those figures relate to funds that have been traced and tracked – think about all of the cybercrime that goes unpunished or untraced, and it is enough to make your head spin.
What two-factor authentication does is to help protect against ransomware attacks, which account for a large percentage of cybercrime revenue.
There really is no reason to take a chance – only sign up for websites and casinos where 2FA can be implemented at your request.
2FA makes your accounts significantly more secure.
You may have your bank card stolen, and while it is essentially useless without a pin, all your personal information that is printed on the card is at risk. We’ll save the debate on contactless cards for another day, but this simple example just goes to show how vulnerable your personal security is when you stick to traditional payment methods.
It’s the same with an online account – your user name and/or password may be compromised by hackers. Without this second string of 2FA authentication information, however, they cannot steal your identity or spend your money.
With cryptocurrencies like Bitcoin, however, your personal information stays secure and anonymous at every stage of the transaction. Bitcoin uses blockchain technology, a decentralised system, none of your information is held on a single server which could be hacked. Because each “block” in the blockchain is encrypted, this makes it virtually impossible to hack. What with the added level of 2FA security, your funds and personal information are totally secure.
Any guarantee of additional security is so important in the current digital landscape. It is an unfortunate fact that the techniques deployed by many cybercriminals are becoming increasingly sophisticated and harder to detect. As a consequence, digital attacks on individuals, businesses and even government-secured sites are becoming ever more prevalent.
From basic hacking to advanced data breaches, cybercrime is becoming even harder to defend against. That is why many businesses are integrating 2FA into their operations.
It’s a well-known fact that many of us use really rubbish passwords because they are so memorable! From names and dates of birth to numerical codes such as 1234 or 1111, we might be making our lives easier, but we are also putting a target on our backs to would-be digital fraudsters.
That’s why 2FA is so important in this ever-changing technological world.
It goes without saying that the main advantage of 2FA is security. Even if your online credentials are vulnerable, you still have your secondary layer – usually a mobile phone – secure in your presence.
Another advantage leads on from that, with many of us carrying our smartphones with us somewhere in the region of 24/7! If you are ever asked to action a 2FA request, then you will never be scrabbling around for your phone because it is likely to be about your person.
The main point about 2FA is that you can ensure that your funds are totally secure without having to change your lifestyle. What is more, as technology continues to become even more versatile, we will be able to use even more factors in our authentication, from GPS and speedometers to voice recognition software. This will help to make authentication even more personal to the user.
Here at Bitcasino, our mission is to protect you from potential hacking and data theft.
This is not just about the funds in your player account – it’s about your personal identity details and your financial information, which may include bank card/account data.
One minute, you can be playing your favourite blackjack games and then – whoosh – your world is turned upside down.
We don’t cut any corners when it comes to securing our players’ accounts, and only the best will do as far as internet security is concerned.
That’s why we have always used Google Authenticator.
This is a dedicated 2FA app from Google, and the difference here is that rather than receiving text messages sent to your phone that contain sensitive information, all of the authenticating data is kept within the app.
What happens is that you have a security code displayed in the app, but this is only there on a time limit, and soon your code will be changed for a new one. This is called a “One Time Password Algorithm”, and every time you log into the site, you will need to input your updated six-digit code.
Basically, it’s the perfect way to get a new security password without having to think of one at random by yourself. The fact that it’s forever changing, cutting hackers off at the pass, is a godsend.
Google Authenticator is available for both iOS and Android devices, so no matter how you choose to play your favourite slots and casino games, you can be doubly secure.
How do you set up Google Authenticator in conjunction with your Bitcasino account?
Firstly, you need to head to your dashboard. Here, you should go to the settings menu, and then navigate to security.
Now, scan the QR code using your smartphone, before opening up the Google Authenticator app on your device.
Click the + button, and you should now be able to add your Bitcasino account to your menu.
Once enabled, you will be asked to complete the two-factor authentication process each and every time you log in or wish to make a withdrawal, helping to keep you even more secure online.
Google Authenticator is even good for fighting against those who try to use the account recovery option to access your login credentials. By using the app, you will have a QR code or a reference number that is unique to you.
With Bitcasino, you can play with the confidence that comes with knowing that all of your personal information is kept safe by the latest in online security measures.
You should note that 2FA is optional – you don’t have to set it up if you don’t want to. However, we implore you to consider the options provided by Google Authenticator.
Together, we can make Bitcasino a highly secure online casino, where the emphasis is on fun and not fear. Happy gaming!Words: Sean McNulty