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At Airbitz, we have always wanted to add 2-factor authentication to our wallet but have always been unsatisfied by the complicated process required to enable it, utilize it, and back it up. Most apps utilize a second application such as Google Authenticator and have to transfer a seed from app to Google Authenticator to set it up. Then on each login, they have to launch Google Authenticator, copy a 6 digit PIN, paste it into their app, plus their login & password. Ick! With the importance of digital security, we felt it was paramount to have 2FA as a feature for our wallet. But in the spirit of Airbitz, we’d only launch it when we could make it dirt simple.
We’re confident our implementation will make digital security so simple that more people will be able to own, secure, and utilize Bitcoin and help drive significantly higher adoption of Bitcoin, not with bitcoin banks or hosted wallets, but with true wallets that provide financial autonomy and privacy.
We’ve accomplished this simplicity by basically merging the functionality of Google Authenticator into Airbitz. Instead of copy and pasting a 6 digit PIN every time you want to login, Airbitz will simply generate a one time use token within the app, and send it with each server interaction. This effectively ties your account to your current device.
Should the user lose their device, they can still attempt a login using another device and request a 2FA reset. The reset will require 7 days, during which, a notification will be sent to the device of the user to prevent a fraudulent reset. Once you see how easy and secure two factor can be, you’ll probably want to use two factor authentication with all of your online services.
Below is our press release announcing this great new functionality.
Airbitz Launches The World’s First “One-Touch 2-Factor Authentication”
San Diego Startup Brings Bitcoin Ease of Security to New Levels
SAN DIEGO, CA — March 19, 2015 — 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.
About Airbitz
Airbitz was founded in January 2014. We aim to bring bitcoin to the next billion users through amazingly simple yet feature rich applications focused on ease of use and ease of security. Our focus is to deliver software, services, and products with an amazing user experience, both visually and functionally, simplifying this advanced technology and delivering it to the masses while still retaining Bitcoin’s core principles of decentralization and privacy. For more information, visit airbitz.co and follow us at twitter.com/airbitz
