Have you ever signed into an account and been asked to take a second step to verify your identity? That’s 2FA. That is why we are rolling out hardware security key support for 2FA when logging into Coinbase through your mobile device (support for desktop is already available).
We want to ensure that all our users can leverage secure 2FA methods to access their accounts on Coinbase. But at Coinbase, we believe this extra step helps us keep our customers and their funds secure, including by providing protection against account takeovers (ATOs), which are usually caused by phishing campaigns, SIM swaps, or support scams. This higher level of security is not the default for many traditional financial institutions and other technology platforms. Moreover, this security feature ( first launched on iPhone 5s) remains safeguarded even if the iOS kernel is hacked.At Coinbase, every customer is opted into two-factor authentication (2FA) automatically. For those unfamiliar, Secure Enclave is a coprocessor of the iPhone’s ARM CPU and takes care of all the cryptographic functionalities for authentication. Google is using Apple’s “Secure Enclave” feature found on the A-series chips to turn iOS devices as a secure key for two-factor authentication. So, How Does the Security Key Work on iOS? Do note that it doesn’t send the login prompt via the internet to ensure the login happens within a safe environment – away from the prying eyes. While the former is quite similar to a physical Lightning/USB-C key, the latter’s push-based method is generally found in the company’s Gmail or Search app.įurthermore, the phone security key must be near (within the Bluetooth range) the device that’s attempting to log in. Google’s built-in phone security key is different from Google Prompt (two-step verification), even though both sport the same UI. A bit more light on a new feature is always a better idea, especially when you are all set to brace it up, isn’t it?
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