Two-factor authentication is a ‘must-have’ security measure for securing all financial services in the 21st-century. Besides the standard password, 2FA involves entering a one-time code each time you log into your account or attempt to withdraw funds.
Therefore, if by chance, malicious attackers have access to your username and password, it will not be possible for them to access your account and use your funds without a one-time code.
Core advantages of two-factor authentication are as follows:
You do not need additional facilities for work because authentication is performed via a mobile device, which is usually within reach.
The confirmation code is always new and more secure than a single password.