Bitcoin platforms around the world are constantly monitoring their security implementations, and they are forced to adapt where necessary. The traditional “username and password” combination is far from secure, and most services will allow you to set up two-factor authentication as an additional layer of security. BitQuick, on the other hand, has integrated Clef 2FA into their platform, which also removes the “password” part from the equation.
Clef 2FA – Eliminating Passwords
When it comes to using any online service, the more traditional way of accessing your account occurs through entering a username and password. Even though you can generate fairly secure passwords these days – by using tools such as LastPass – it is not the most secure solution to protect customer data.
This security issue has mostly to do with a few factors that are not in control of the user who owns the account. For example, if the platform you are trying to access has the user passwords stored in plain text – which happens more often than you might think – it is not difficult for hackers to obtain your credentials.
But there are other scenarios as well in which a password is not the best solution from a security point of view. Should your device ever get infected with a keylogger, your usernames and passwords will also be transmitted to malicious individuals. Granted, when using 2FA, that code will also be logged, but these codes are only valid once in most cases.
Clef has come up with a simple and elegant way to combine two-factor authentication with enough security measures to bypass the need for a password altogether. Similar to how Bitcoin technology works, Clef makes use of public and private key-cryptography to let users access their accounts.
Rather than relying on keyboard input, users can authenticate by using their mobile device – in most cases,a smartphone – which is recognized by the Clef implementation. In doing so, Clef provides a solution that is resistant against brute-force, keylogging, loss of your mobile device and even theft of your laptop or computer.
BitQuick Integrates Clef
BitQuick is one of the many Bitcoin platforms which lets you buy Bitcoin in just 3 hours, from the time of creating your account to holding your first BTC. Quite a few trades are executed on the BitQuick platform on a daily basis, with over 10,000 customers served to date. A total of over 12,000 BTC has been changing hands through the BitQuick platform, which uses the BitFinex BTC/USD price to match orders.
Purchasing Bitcoin through the BitQuick platform is possible through SEPA or cash deposits, and will be matched with sell orders which are held in escrow. Do keep in mind there will be a low 2% fee per transaction though. However, if you are selling BTC through the BitQuick platform, there is a 0% fee per transaction.
The integration with Clef allows users to protect their BitQuick orders, creating a two-factor authentication on top of your Bitcoin trading orders. Users will need to set up Clef on their mobile device in order to use the “Have Clef?” function on the BitQuick website. Clicking that button will let you login with your smartphone by aiming your device’s camera at the computer screen.
What makes the Clef integration even more interesting is the fact that you can still modify your sell order once it has been created.Simply follow the same authentication procedure with the Clef application, and you will not have to remember any passwords or pin codes any longer.
Source: BitQuick Blog
Images courtesy of BitQuick & Clef