Two-factor authentication (2FA) is a second layer of account protection besides the password. When 2FA is on, you enter a one-time code to confirm your identity whenever you log in.
2FA is very convenient and reliable. If you lose your phone or someone steals your login and password, you’ll still access your Binomo account. We strongly recommend you set it up.
Here ↑ we have a dedicated video for you on how to set everything up. In case you prefer reading more, please keep on with the article.
! To set up 2FA, you should have a confirmed email address. It is the first layer of your security and how we can contact you in an emergency.
How to set up 2FA
2FA settings are in your Profile. You can reach it from traderoom on the platform's web version by clicking the Set up 2FA button or Manage 2FA if you use the app.
Then you need to complete several short steps:
— Install the authenticator app. We recommend Google Authenticator or Authy.
— Add your Binomo account to the app. You should scan our QR code via the app’s scanner or type a special code generated by the platform in the authenticator app.
— Verify the app. After scanning the QR code or typing the code in the authenticator app, you’ll get a one-time authentication code of 6 digits. Type it into the form on the platform.
— Get recovery codes. Copy and paste the codes somewhere or download them as a file. Recovery codes are the backup option for entering the account. If you can’t reach your authenticator app or your phone, they are the only option to pass logging in.
Recovery codes are one-time, so always keep them updated.
! Keep your recovery codes in a safe place. If you log out and won’t be able to use your authenticator app or phone for logging in, they are the only way to restore access to your account.
— Finish setting up 2FA. Enter one of the recovery codes you’ve saved previously.
Logging in with 2FA
You’ll be asked to enter the authentication code when logging in to the platform anew. The code is displayed in your authentication app. It is temporary and valid for a short time. So if you enter the code and it’s invalid, check your app — probably, the code’s already changed.
If you can’t use the authentication app, enter the recovery code instead. Remember that recovery codes are one-time, so regularly update them. Always keep the codes in a safe place not to lose them.
Turning 2FA off
! We don’t recommend turning 2FA off because it will significantly reduce your account protection and make your data and funds more vulnerable.
To turn 2FA off, click the Manage 2FA button in your Profile and press the Turn off button. To confirm the operation, you should enter the authentication code. If you decide to turn 2FA back on, you should relink your Binomo account to the authenticator app:
1. Delete the old code linked to your Binomo account from the authenticator app:
— Tap and hold the code in Google Authenticator, then delete it
— Tap on your account’s icon in Authy, swipe to the left, and press Delete
2. Add your Binomo account to the app again
3. Rescan the new QR code in your Binomo profile using the app’s scanner
2FA’s current status is reflected in your Profile by the small colored tumbler (green On or red Off).
Typical issues
— The QR code is invalid or incorrect. Check both the app’s and your device’s time and date settings; probably, they aren’t synchronized. To fix it, change the settings of the authenticator or device.
For example, in the Google Authenticator app for Android, you should go to the main menu, tap More => Settings => Time correction for codes => Sync now. The app will confirm the time synchronization, and you’ll try it again.
If you can’t scan the QR code when setting 2FA, you can use another option and type in the code produced by the platform in the authenticator app.
— The authentication code is invalid. The authentication app regularly updates codes; the code you are trying to enter is probably outdated. Check the app and try again. Alternatively, you can enter the recovery code.
Sometimes users enter codes generated for authentication on another platform. Ensure you are using codes for your Binomo account.
— The recovery code is invalid. The platform doesn’t accept codes with dashes instead of hyphens or uppercase letters instead of lowercase ones. The recovery code you input must be the same as the one you copy. Ensure the recovery code is correctly typed, and there are no extra symbols, and try again.
Another reason for the issue is that your entered code has already been used. Try entering another recovery code or authentication code. Remember that recovery codes are one-time, so regularly update them.
— My recovery codes were stolen. Urgently update them in your Profile and keep them somewhere safe.
! Remember to update your recovery codes regularly. If you lose them, you risk losing access to your account forever.