Lesson 12 – Enabling Two-Factor Authentication On Bittrex and Binance
About Bittrex and Binance
Bittrex and Binance are two of many “Cryptocurrency Exchanges.” I chose them for this lesson because they are popular, they list most of the “good” cryptocurrencies, and also because they are easy to learn and use.
Recall that cryptocurrencies have their own “Exchanges” just like the stock market has their own Exchange. Cryptocurrency Exchanges are simply places where you go to buy and sell cryptocurrencies.
So, before you can “buy and sell” cryptocurrencies, you must have an account with one or more of the “crypto” Exchanges. In the previous lesson, I showed you how to get an account with both Bittrex and Binance.
Since you will be transferring your Bitcoin to Bittrex and/or Binance to buy some of the other cryptocurrencies, your money will be on them. For that reason, you will want to secure your Bittrex and Binance accounts so that hackers cannot gain access and steal your money.
Securing your Bitrrex and Binance accounts involve enabling what is called Two-Factor-Authentication. It is the same process you learned when securing your Coinbase account.
For each and every Exchange you sign up with and use, you will want to secure that account and enable Two-Factor-Authentication on it.
You are going to find that the “Google Authenticator” app on your mobile device will contain many entries.
The Next Lesson (Lesson 13): Enhancing Your Bittrex Account (Optional) (Check your email tomorrow)