On February 11th, 2014, CEX.IO Bitcoin Exchange implemented a phone verification feature with the Two-Factor Authentication. The decision to introduce this system aims to strengthen CEX.IO security system in general and increase safety of each member of CEX.IO continuously growing user base.
CEX.IO team believes that 2FA would significantly reduce online fraud occurrence, because users’ accounts will be secured not only with provided passwords, but also with additional pieces of information, which only users are informed about.
In order to pass 2FA, users are free to choose from two applications — Google Authenticator and Authy. Moreover, CEX.IO made a step towards unification of all users enabling 2FA not only for smartphone owners, but also for those, who use simple cell phones. Thus, people can either use up-to-date 2FA software or simply get a text or an audio message containing respective authorisation code.
Jeffrey Smith, CEX.IO Chief Information Officer, comments:
Users’ security and privacy are of the highest concern for us, especially since our platform deals with financial operations. Therefore, we instantly take measures on raising safeguard level at CEX.IO by means of introducing new security features, such as the Two-Factor Authentication, and informing our users about the ways of keeping their accounts safe from unauthorised access.
CEX.IO is a Bitcoin Exchange, which has shared credentials with GHash.IO mining pool. This scheme allows users to trade Bitcoin mining power (GigaHashes per second) and mine Bitcoins simultaneously. Alternative crypto currencies, such as Litecoins and Namecoins also stand for trading at CEX.IO.