How two factor authentication can improve the security of your online accounts

Written by Daily Fix - Published 12-Aug-2023, last updated 21-Jun-2024

Two-factor authentication (2FA) is an essential security measure that adds an extra layer of protection to systems and applications. It requires users to provide two different types of authentication factors before gaining access. The first authentication factor usually involves something the user knows, like a password or a PIN code. This verifies their identity through information only they should know.

The second authentication factor is something the user possesses, be it a physical device like a security token or a software-based authenticator app on their smartphone. This ensures that even if the password is compromised, unauthorised access is still prevented as the second factor acts as a verification mechanism.

What are the main types of two factor authentication?

Some of the most common types of 2FA are:

Text message: A code is sent to your phone via text message.
Biometrics: Your fingerprint, face, or voice is used to authenticate you.
Authenticator app: An app generates a code that you use to authenticate yourself. Authy is a well-known authenticator app.
Hardware token: A physical device that generates codes such as a YubiKey

What are some of the benefits of using 2FA?

Here are some of the pros of using 2FA:

Increased security: 2FA adds an extra layer of security to your accounts, making it much more difficult for hackers to gain access.
Reduced risk of account takeover: 2FA can help to prevent account takeovers, which are a common way for hackers to steal personal information or money.
Convenience: 2FA can be more convenient than traditional security methods, such as passwords, because you don't have to remember multiple passwords for different accounts.

What are some of the cons of using 2FA?

Some of the cons of using two factor authentication include:

2FA is not foolproof: 2FA is not foolproof, and there are still ways for hackers to bypass it.
Can be inconvenient: 2FA can add an extra step to the login process, which can be inconvenient for some users, especially if you don;t have your 2FA device with you and you need to log into one of your accounts!
Can be expensive: Some 2FA methods, such as hardware security tokens, can be expensive. But the expense can be worth it considering the extra security it provides.

Should you be using two-factor authentication?

Incorporating 2FA into systems and applications strengthens cybersecurity measures by minimising the risk of unauthorised access, protecting sensitive information from potential breaches and ensuring individuals' digital identities remain secure.

2FA significantly enhances security by mitigating common risks associated with single-factor authentication. If an attacker manages to acquire or guess the user's password, without possessing the second factor, they would still be unable to gain entry.

If you're not already using 2FA, then we would recommend that you start using it. It's a simple way to add an extra layer of security to your accounts and help protect yourself from hackers.