Airbitz today announced the launch of "One-Touch 2-Factor Authentication" to their mobile Bitcoin wallet for iPhone and Android devices.
2-Factor Authentication (2FA) is a key security feature for online accounts that has been largely neglected due to the difficulty and tedious nature of its operation. 2FA refers to the two factors required to authenticate with an online service. One factor is typically something a user knows, such as a login and password. A second factor is something a user has such as a mobile device with an app such as Google Authenticator or Authy. This second factor prevents unauthorized access to an account by an attacker that has the correct login and password, but does not have the user’s device. The importance of 2FA was reinforced by the recent purchase of the 2-Factor app company, Authy, by Twilio.
However, utilizing the second factor is tedious and requires copying or typing in a 6 to 7 digit code from a 2FA application, into the app or website the user is logging into.
Available immediately on the Google Play and Apple App Store, the latest version of Airbitz allows users to enable 2FA at the tap of a button without any need to repeatedly type in a 6 digit code on login, or backup a 2FA seed. This will effectively link their device to their Airbitz account and not allow any new devices to authenticate. A user can add additional devices by scanning a QR code on the original device that enabled 2-Factor. Should a user lose their device, they can request to disable 2FA by using their login and password via the Airbitz app on a new device. The request will require a 7 day waiting period, during which, the user’s previously logged in device will be sent push notifications to warn them in case of fraud.
Airbitz has accomplished this while still retaining their core focus of Bitcoin autonomy and privacy. No email address, phone number, or other personal info is required to utilize Airbitz One-Touch 2-Factor Authentication, and users still retain 100% control of their Bitcoin with no 3rd party able to move their funds.
The Airbitz relentless pursuit of “Ease of Security” has brought innovations such as this to the Bitcoin ecosystem while still providing the true financial autonomy, privacy, and decentralization that has and will continue to be key to the success of Bitcoin and cryptocurrencies.