What is Two-factor authentication (2FA)?
Two-factor authentication asks for a second proof beyond your password, usually an authenticator-app code, so a stolen password alone is not enough.
What does Two-factor authentication (2FA) mean in practice?
Passwords get reused, phished and leaked. A second factor means an attacker also needs something you physically hold. An authenticator app generates a short code that changes every thirty seconds or so, derived from a secret shared once when you scan a QR code.
Authenticator apps are stronger than codes sent by text message, which can be intercepted through a SIM swap. For an account connected to a live exchange, turning 2FA on is the single highest-value protection available.
A worked example
Illustrative only: someone obtains your password from an unrelated breach. At sign-in they are asked for the six-digit code from your authenticator app, which they do not have, so the attempt fails.
How to read or test it
Set it up on the account first and on the exchange second, using an authenticator app rather than text messages if you have the choice. When the setup screen offers backup codes, store them offline and separately from your password manager. Test the whole recovery path once while you are calm: confirm you can sign in on a second device. A second factor you cannot recover is a lockout waiting to happen. Keep the recovery steps written down somewhere safe, and update them whenever you change phones.
How AKQX handles Two-factor authentication (2FA)
AKQX supports 2FA with an authenticator app set up by scanning a QR code. Your account also lists every signed-in device and lets you sign any of them out.
See Security and API key safety for the feature page.
A common mistake
Saving the authenticator backup codes in the same place as the password.
Educational only. This entry explains a term. It is not investment advice and does not recommend any trade, setting or strategy, and example numbers are illustrative, not results.
Related terms
Test the idea instead of taking it on trust
A free account includes 10 backtests a month and 1 paper algo, with no card and no broker connection.