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How Do I Setup Two Factor Authorization on My Bitstamp Account?

Adam Goldkamp is the editor / author responsible for this content.
Dec 9, 2022

Two-factor authentication (2FA) is a security process requiring two different identification forms from an individual to access a system. The most common type of 2FA is when the user provides something they know, such as a password, and something they have, such as a code generated by an app on their phone. Bitstamp offers two-factor authentication for users as an added security measure. Read on to learn how to set up two-factor authorization on your Bitstamp account.

Setting Up Two-Factor Authorization

Here is the procedure to follow:

  1. To enable 2FA on your account, you will need to download and install an authenticator app on your phone. It's recommended to use either the Google Authenticator or the Authy app.

  2. Once you have installed the app, open it and scan the QR code displayed on the Bitstamp website under the "2-Factor Authentication" section. After scanning the code, you will be given a six-digit code. Enter this code in the "2FA Code" field on the website and click "Enable 2FA".

  3. You will now be required to provide your six-digit code from the authenticator app every time you log in or confirm a withdrawal.

  4. It's also recommended that you add a backup code to your account. This is a 16-digit code that can be used to access your account if you lose your phone or if it's stolen.

  5. To generate a backup code, click on the "generate" link next to the "Backup Code" field on the website.

Once you have generated the code, be sure to store it in a safe place. Do not store it on your computer or phone. Contact the support team if you have any questions about setting up two-factor authentication.

Which Are the Benefits of Two-Factor Authentication?

The main benefit of two-factor authentication is that it adds an extra layer of security to your account. With 2FA enabled, even if someone knows your password, they will not be able to access your account unless they also have your six-digit code from the authenticator app.

Another benefit of using an authenticator app is that the codes are generated randomly and are only valid for a limited amount of time. Even if someone could intercept the code, it would be useless to them after it expires. Contact customer support if you run into any issues.

How Do I Fix 2FA Issues When They Arise?

If you are having trouble with your 2FA code not working, you should first check the time on your phone to make sure it is correct. The codes generated by the authenticator app are only valid for a limited amount of time, so if your clock is off by even a few minutes, the code will not work.

If your clock is set correctly and you are still having trouble, try generating a new code from the app and entering that. If you are still having issues, contact the support team for assistance.

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Adam has been tirelessly trying to help customers find the best tips and tricks to get through phone trees and writing many guides for prickly customer service problems. He's been featured in the Wall Street Journal, Inside Edition and Bloomberg.

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How Do I Set up Two-Factor Authorization On My Bitstamp Account
Setting Up the Two-Factor Authorization On My Bitstamp Account

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