Please note that this is an outdated version of this article. You can find the updated article here.
What is Two-Factor Authentication (2FA)?
Two-Factor Authentication (2FA) or 2-Step Verification, adds an additional layer of security to your account. 2FA means that when you login, you’ll be prompted for your email, password, and 2FA one-time code from a second device – usually a mobile phone.
This authentication method can be easily summed up as a combination of something you have (your phone) and something you know (your password).
2FA codes are uniquely generated for your account. They are meant for one-time use and expire after roughly 30 seconds. It is highly unlikely that you will use the same code to access an account more than once.
Why is it important to enable Two-Factor Authentication (2FA)?
Email address and password pairs are often exposed due to numerous data breaches; an issue compounded by the fact that people often reuse these pairs across multiple accounts and services. 2FA can help reduce the risk of exposure even if your password is stolen or your email account is compromised.
For your security, Poloniex strongly recommends enabling 2FA on your account. Without 2FA, your funds and some private data are only as safe as your login information (email and password pair). You can enable 2FA here: https://poloniex.com/2fa
Once you have enabled 2FA on your Poloniex account, please print the backup key and store it in a safe place.