TL;DR – Make sure you have 2FA setup. Secondly, use Authy instead of Google Authenticator as it’s safer. Lastly, if you’re using Google Authenticator already, then switch to Authy.
When I bought my first bitcoins and altcoins, I immediately setup 2FA (2 Factor Authentication) to protect my Luno and other accounts that I use that have some form of value to me. Most of these sites say “we support Google Authenticator” and off I went to install the app and used that to add that additional layer of protection. Great! Well, not so fast…
Google Authenticator only supports a single device. If I lost my phone, and I never screenshotted/saved/backed-up the backup key that most of these services give you when setting up 2FA, I’d be royally screwed (sidenote, I had no idea where I saved these backup keys!). With Authy though, they support multiple devices as well as cloud backup (encrypted!). If I lost my phone, I could log in to Authy and I’d still have access to all my accounts wherever I’d setup 2FA.
But the app says they only support Google Authenticator – how can I use Authy then?
2FA is just a QR code or long string of characters. If the website or app says they support Google Authenticator, that means it also supports Authy!
If any website or service you use offers 2FA, set it up!
If you’ve setup 2FA with Google Authenticator and want to switch (like I did), it’s really easy. Login to the apps and sites, disable 2FA (using Google Authenticator) and then setup 2FA again using Authy. Took me 5-10 minutes to change over all my accounts and now I feel a lot safer knowing that my phone isn’t the only device that holds all the keys to my castle.
Need more convincing? Read Authy’s blogpost on their comparison to Google Authenticator.