Why 2 Factor Authentication is a good idea
As is the case with all security measures, there is a trade off with convenience, but PowerTrade strongly recommends at least securing your account with 2FA. On the off chance that your email account becomes compromised and a bad actor attempts to log in to your account, 2FA protection will likely prevent them from accessing your PowerTrade account and funds.
In-app actions protected by 2FA
Once you've set up 2FA on your account, certain sensitive actions in the app will require you to enter a One-Time Password (OTP) to complete. These actions are
- Submitting a withdrawal request
- Adding a new approved withdrawal address
- Submitting a trade order
How do I set up 2FA
To access the 2FA setup screen for the first time, tap on your profile icon on the top right of the app's main screen followed by "Security" followed by "2-Factor Authentication". Then tap on the "Setup" button.
This will bring you to this screen which lets you choose between automatically provisioning 2FA using the Google Authenticator app (recommended for beginners) or adding 2FA manually using the app of your choice.
If you already have Google Authenticator or another preferred default 2FA authentication app installed on your device and would like to automatically provision 2FA using this app, tap on the Open App button. Your phone will prompt you to allow PowerTrade to open the app. Tap Open.
A new 2FA token will now be added to your authenticator app. Take note of the 6 digit code and go back to the PowerTrade app. Enter the code to finish setting up your 2FA authentication.
If you would like to use a different authenticator app from the default one on your current device, tap the Add Manually link to get your Secret Key. You can tap the secret key to copy it to your device's clipboard. Tap the Next button once you have copied the key.
Add a new entry on your authenticator app and paste or type the secret key into the app when prompted. Then copy the newly generated 6 digit OTP and paste that back into the PowerTrade app.
Resetting/removing 2FA from your account
We strongly recommend against removing 2FA for convenience, but sometimes it may be necessary to temporarily remove 2FA from your account. One common reason for this is to migrate your 2FA token to a new device.
If you already have 2FA set up on your account but would like to remove or reset it, please submit a request to PowerTrade Support on our Help Center.