Two-Factor Authentication (2FA)
A second verification step beyond your password, usually a rotating code or a hardware key.
✦ Key Insight
It is the highest-value security setting on any custodial account, and the difference between a leaked password being an inconvenience or a total loss.
✕ Common Misconceptions
Failing to save the setup backup codes, which can lock you out permanently if the device is lost. Also relying on SMS — see SIM-swap attack.
Detailed Explanation
In Practice
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Wallet
Software or hardware that stores your private keys and lets you sign transactions.
Token
An asset created by a smart contract on an existing blockchain rather than being that blockchain's native currency.
Blockchain
A shared, append-only record of transactions maintained by many independent computers at once.
Transaction
A blockchain transaction is a signed or authorized instruction that changes blockchain state or transfers value when accepted by the network.