Crypto exchange Gemini has revealed a hardware security key functionality for its mobile application.
This gives additional security for customers and compatibility with devices such as YubiKey.
Due to WebAuthn compatibility on Gemini’s app, iOS and Android, the exchange added said in a statement:
“Gemini customers can now use USB and near-field communication, or NFC, security keys to securely sign into the Gemini Mobile App”.
Want to take your Gemini account #security to the next level with a hardware security key?🔐We are partnering with @Yubico and offering our users 50% off YubiKey 2-packs! Sign-in or create a Gemini account & place a trade to qualify. https://t.co/Gx7YUflQDI pic.twitter.com/GamzRoh5in — Gemini (@Gemini) July 14, 2020
It is anyway known that two-factor authentication, or 2FA, allows added security that is beyond a simple website password login.
If the feature is enabled, 2FA will require a code from a mobile device for website login just after a user inputs their password.
The provided code is a one-time use, time-based string of numbers. It comes either from a text message or even from a third-party application, depending on the settings set by the user.
Other formats also exist for 2FA such as requiring for a physical device plug-in for logins like Yubico’s YubiKey.
"Along with existing platform authenticators (e.g. TouchID and Windows Hello), YubiKeys provide a secure, cross-platform solution you can use to access your Gemini account via our Mobile App, as well as any other sites that support WebAuthn." – @Gemini https://t.co/At9ji4kXrI — Yubico | #YubiKey (@Yubico) July 14, 2020
Hardware keys in an essential tool for protection against hacking or SIM card swapping.
The statement further added on both the parties teaming up:
“Yubikeys provide a secure, cross-platform solution you can use to access your Gemini account via our Mobile App, as well as any other sites that support WebAuthn.”
Security has always been an issue of concern in the cryptocurrency space where hacks and data breaches are very rampant.