Which authenticator method is recommended for securing my cryptocurrency transactions: SMS or app-based?

3 answers

• May 01, 2022 · 3 years ago
  When it comes to securing your cryptocurrency transactions, it is generally recommended to use app-based authentication over SMS. While SMS authentication can provide an additional layer of security, it is not as secure as app-based authentication. SMS messages can be intercepted or spoofed, making it easier for hackers to gain access to your accounts. On the other hand, app-based authentication uses a dedicated app on your smartphone to generate unique codes, which are much harder to intercept or spoof. This method provides a higher level of security and is widely used by cryptocurrency exchanges and platforms.
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• May 01, 2022 · 3 years ago
  If you want to ensure the highest level of security for your cryptocurrency transactions, it is best to choose app-based authentication. SMS authentication can be convenient, but it is not as secure as app-based authentication. With SMS authentication, the verification code is sent to your phone via text message, which can be intercepted or redirected by hackers. App-based authentication, on the other hand, generates a unique code within a dedicated app on your smartphone, making it much more difficult for hackers to gain access to your accounts. Therefore, it is recommended to use app-based authentication for better security.
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• May 01, 2022 · 3 years ago
  At BYDFi, we highly recommend using app-based authentication for securing your cryptocurrency transactions. SMS authentication can be vulnerable to SIM swapping attacks, where hackers can take control of your phone number and intercept the verification codes. App-based authentication, on the other hand, provides an extra layer of security by generating unique codes within the app itself. This method is more reliable and less prone to hacking. Therefore, we strongly advise our users to opt for app-based authentication to ensure the highest level of security for their transactions.
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