In the age of hacking, CurrencyFair security offers three great features for maintaining confidence in your accounts security.
- Login History
- Two Factor Authentication
- SSL Encryption. Premium website and data transfer encryption from end to end.
These guys store your login history for you. If you feel there is something wrong you can check back through the login history to see if someone else other than yourself has accessed your account, the time the account was accessed and from what IP address. This is a great basic CurrencyFair security feature.
To access this feature click My Account on the top right of your Dashboard and select Login History.
Two Factor Authentication
What is Two Factor Authentication? This describes a feature that on authentication or logon to a service, like CurrencyFair’s website, you login with something you know, your username and password, and something you have, like a SMS code. I find this feature extremely important as most web browsers these days offer to save your username and password for you. Imagine you were accessing your CurrencyFair account on a public computer in a foreign country? Very dangerous.
To configure this CurrencyFair security option, click on the My Account drop down menu and select My Profile.
Under the section for Your Security Detail, Click the Enable button and follow the wizard to complete your two factor authentication configuration. The wizard is quite simple to use and each step is explained well along the way.
With CurrencyFair you have a choice of two options of ‘something you have’ .
- Unique SMS Code
- Google Authenticator iPhone and Android App
You can configure it so that in order to gain access to your CurrencyFair account that you must enter a unique code sent to your Mobile Phone by SMS. If you have an iPhone or Android phone you could use the Google Authenticator app. This generates a new unique code every 60 seconds. When prompted on logon, open the app and enter the code.
You have the choice to disable this feature on the computer you successfully authenticated on. Only do this if you trust your computer and location.
I use the iPhone Google Authenticator app as it is quick and easy to use instead of having to wait for an SMS. I really do have to emphasis how great the feature is and how you should use it. Once configured you can feel that little bit more secure.
You will notice that any of CurrencyFair’s web pages are secured with a premium SSL certificate meaning that all data transferred from your desktop or laptop to CurrencyFair is encrypted. The certificate proves they are who they say they are. This also indicates that they take security very seriously. As they should do when handling other people’s money.