Before discussing what a 2FA or two-factor authentication is, let us first take into account why it is crucial to do all the things you can to make sure that your online account is secure including securing your passwords. With so much of your life happening on laptops and mobile devices, it is not a surprise that digital accounts have started to become an excellent magnet for various criminals.
There have been malicious attacks against companies, governments, as well as individuals. But unfortunately, there are no indications that data breaches, hacks, as well as other types of cybercrime are decreasing. Fortunately, it is quite easy for companies to add another level of protection to user accounts through 2FA or two factor authentication.
Rise in Cybercrime Rates Demand Stronger Security and Passwords
In recent years, there has been a substantial rise in the number of websites that are losing the confidential data of their clients. And with data security breaches become more sophisticated, firms are finding that their old security systems are no match for the complex attacks and threats these days. In some instances, it’s just because of a simple human error. And it is not only user trust that could be damaged. All kinds of organizations including startups, non-profits, small businesses, and global companies could face severe reputation and financial loss.
For the clients, the effects of a targeted identity theft or hack could be very devastating. Stolen information are utilized to get fake credit cards and are then used for shopping sprees, which could damage the credit rating of the victim. It will just take one night to drain cryptocurrency accounts and even an entire bank. Apps and online applications require tighter security. And if possible, consumers must have a habit of protecting themselves with something that is way stronger than just a simple password and that’s where two factor authentication comes in.
Passwords and Its Bad History
Passwords have become vulnerable. Even if there are several alternatives out there, user names as well as passwords continue to be the most commonly used type of user authentication. Generally speaking, passwords must be something that only you know and should be hard for someone else to guess. And even though passwords are better than having no protection, they are not foolproof.
First of all, humans have terrible memories and tend to have several accounts. Some consumers try their best to make it harder for online attackers by coming up with more complicated passwords as well as passphrases. However, with the many different data breaches happening, a lot of people end up giving up and falling back to using common and weak passwords across different accounts.
2FA is The Best Option
Two factor authentication is an additional layer of security used to ensure that those who are trying to get access to an online account are exactly who they say they are. First of all, a user will key in their username and then their password. After that, they still won’t get access to the information they need, because they need to provide another important information. The second factor can come from categories like something you know, something you have or something you are.