Adding security to your wallet. The next thing you need to do is add some security to your wallet. One of the most popular and easiest things to do is adding something called 2 factor authentication (2FA). This acts as a secondary password that you display on your phone or mobile device. It works like this. When you enter your user name and password to access the Coinbase website, you also need to enter a pin code that is generated on your mobile phone by an app called “Authy”. This makes it much more difficult for someone to gain access to your account as it requires something you both know (Your password) and something you own (Your phone) You will need to download the app onto your smart phone or mobile device. iPhone users go here: https://itunes.apple.com/en/app/authy/id494168017?mt=8\ Android users go here: https://play.google.com/store/apps/details?id=com.authy.authy&hl=en Alternatively, search for “Authy” on the app store. Go ahead and download the app first onto your phone before doing this next step. Once you have downloaded the app, launch the app and proceed through the setup, remember to choose “SMS” when asked how you want to receive your verification code.
You should receive a 4 digit pin via SMS which you need to enter into your app. Once you do this the app is fully setup and ready to use with Coinbase. Continue to follow the steps below. Don’t forget once you have Authy installed you can use it on many different websites including the Altcoin brokers I will be talking about soon, it really is a handy app that adds an unrivalled amount of security to your passwords. Setting the 2FA for your Coinbase wallet is dead easy. On the top right of your wallets main screen, hover the mouse over your name and select settings in the drop down menu. The next screen lets you change an of your personal details if you do so wish to, however for now we just want to concentrate on the 2 – Step Verification section, so go ahead and click on “security”