What are the best practices for generating and storing an authenticator key (totp) for digital currency transactions?

3 answers

• Dec 26, 2021 · 3 years ago
  One of the best practices for generating and storing an authenticator key (TOTP) for digital currency transactions is to use a reliable and secure password manager. Password managers can generate strong and unique passwords for each account, including the authenticator key. They also provide a secure storage for these passwords, protecting them from unauthorized access. Additionally, enabling two-factor authentication (2FA) for your digital currency accounts adds an extra layer of security, making it harder for attackers to gain access to your authenticator key.
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• Dec 26, 2021 · 3 years ago
  When it comes to generating and storing an authenticator key (TOTP) for digital currency transactions, it's important to avoid using easily guessable or common passwords. Instead, opt for a combination of uppercase and lowercase letters, numbers, and special characters. Additionally, consider using a hardware-based authenticator device, such as a YubiKey, for added security. These devices store the authenticator key securely and provide an extra layer of protection against phishing attacks and malware.
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• Dec 26, 2021 · 3 years ago
  At BYDFi, we recommend using a combination of strong and unique passwords, along with two-factor authentication (2FA), to generate and store an authenticator key (TOTP) for digital currency transactions. It's crucial to choose a password that is not easily guessable and to avoid reusing passwords across different accounts. Additionally, regularly updating your passwords and keeping them stored in a secure password manager can help protect your authenticator key from unauthorized access.
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