Orca Crypto
Menu
Start Here
Learn
Chains
Exchanges
Markets
Tools
Safety
Glossary
More
Our tokens Book a session
Security term

Two factor authentication

A second proof of identity beyond your password.

Loading live prices
All terms
All termsAddressBlockBlock timeBlockchainConfirmationGasGweiHashMempoolNodePrivate keyPublic keySeed phraseTransactionWalletAll time high (ATH)Bear marketBull marketBundlerCandlestickCapitulationChart patternsCliffDollar cost averaging (DCA)Funding rateLeverageLimit orderLiquidationLiquidityMarket capMarket orderOrder bookPerp (perpetual futures)Position sizingPresaleRisk managementSlippageSniperSpreadStealth launchStop lossSupport and resistanceTrendUnlockVestingVolatilityVolumeWhaleAMMBonding curveBridgeBurnCEXDAODeFiDepegDEXFarmingFlash loanGovernance tokenGraduationImpermanent lossLiquidity poolLP (liquidity provider)LP tokenOraclePerpetual (perp)PointsRestakingRWAStablecoinTVLWrapped tokenYield farmingAirdropAlphaAnonApe (to ape in)Ape inBagholderBagsChadCope / copiumCrypto Twitter (CT)DegenDevDiamond handsDiscordExit liquidityFloor priceFOMOFUDGMHODLJeetKOLLARPLoreMaxiMeme coinMoonNFTNGMINo coinerNormiePaper handsPFPRaidRektSerShillSnapshotTelegram (TG)TradFiWAGMIWenAddress poisoningCold storageCustodyDue diligence (DYOR)Dusting attackExit scamFront runningHardware walletHoneypotHot walletMEVMultisigPhishingPump and dumpRug pullSandwich attackSelf custodySIM swapToken approvalTwo factor authenticationWallet drainerWash tradingAccount abstractionAppchainBlock explorerCirculating and total supplyConsensusData availabilityEVMFaucetFinalityForkFully diluted valuation (FDV)Gas warHalvingLayer 1Layer 2Layer 3MainnetMiningName serviceOptimistic rollupProof of stakeProof of workRollupShardingSidechainSlashingSmart contractStakingTestnetToken standardTokenomicsValidatorZero knowledge proofZK rollupArweave and the permawebComposabilityCross chain messagingdAppDecentralized identity (DID)DePINGameFi and play to earnIndexerInteroperabilityIPFSOnchain and offchainSession keysSmart accountSocialFiSoulbound tokenSybil resistanceToken gatingWeb2 vs Web3Web3
By the Orca Crypto teamUpdated 2026-09-03How we check this3 min readDefinition
Definition

A second proof of identity beyond your password.

Two factor authentication adds something you have to something you know. The strength varies enormously: hardware keys are excellent, authenticator apps are good, SMS is weak.

Every exchange account should have it enabled, and it should not be SMS if any alternative exists.

In practice

A YubiKey or similar hardware key is the strongest option and defeats both phishing and SIM swaps.

What people get wrong

That SMS two factor is good enough. A phone number can be taken over by a SIM swap, which defeats it entirely, and that attack is common precisely because so many people rely on text codes. An authenticator app or a hardware key is a different class of protection.

Common questions

Which type of two factor authentication should I use?
A hardware security key first, an authenticator app second, SMS last and only where nothing else is offered. The gap between SMS and the other two is large.
What happens if I lose my authenticator?
You fall back on recovery codes, which is why you save them when you set it up and keep them somewhere other than the phone. Without them, account recovery is slow at best.

Where this comes up on the site

The guides that actually use this word, rather than a list of everything we have written.

Where to go next

More security terms

Back to the full encyclopedia

Want this explained out loud?

Some of these land faster in conversation than in writing. Sessions are one to one and you can ask anything, including the things that feel too obvious to ask.

Share this page

Was this page useful?