DESCRIPTION: Two-factor authentication (2FA) is an extra layer of security when you log into websites, online bank accounts, or other platforms. Most websites use only a username and password for login, but sometimes, even strong passwords aren't enough to keep your accounts safe.
Why is 2FA important?
Passwords have been the main way to prove your identity online, but they aren't foolproof. Here are some concerning facts about traditional passwords:
- 90% of passwords can be cracked in less than six hours.
- Two-thirds of people use the same password everywhere.
- Skilled cyber attackers can test billions of passwords every second.
Because passwords can be vulnerable, 2FA is crucial. Without strong, unique passwords for each online account, hackers could break in. 2FA may seem inconvenient, but it helps protect you from cybercriminals who aim to steal your identity, access your bank accounts, or get into your credit card accounts.
However, 2FA alone isn't enough. You should also create strong, unique passwords for each account and consider using a password manager to keep track of them.
Here's a reminder:
- Make your passwords at least 12 characters long and include uppercase and lowercase letters, numbers, and special characters (&, #, $, etc.).
- Avoid using dictionary words or personal information like your birthdate or name in your passwords.
For further check refer to https://community.deriv.com/t/the-importance-of-two-factor-authentication-2fa/50055 / https://community.deriv.com/t/setting-up-the-two-factor-authentication-2fa-for-your-account/50047