What are the best practices for storing and managing 2-step verification backup codes for cryptocurrency exchanges?

4 answers

• Jan 17, 2022 · 3 years ago
  As a cybersecurity expert, I would advise using a password manager to store your backup codes. Password managers offer encrypted storage and can generate strong, unique passwords for each exchange. This ensures that your backup codes are protected and easily accessible when needed.
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• Jan 17, 2022 · 3 years ago
  One best practice is to store your backup codes offline in a secure location, such as a hardware wallet or a physical safe. This reduces the risk of unauthorized access and protects your codes from potential online threats. Just make sure to keep them in a place where you can easily retrieve them if necessary.
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• Jan 17, 2022 · 3 years ago
  At BYDFi, we recommend using a combination of offline and online storage for backup codes. Keep a physical copy in a secure location and also store a digital copy in an encrypted file on a trusted cloud storage service. This provides redundancy and ensures access to your codes even in case of physical loss or damage.
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• Jan 17, 2022 · 3 years ago
  When it comes to managing backup codes, regularly review and update them. Delete any unused or outdated codes to minimize the risk of unauthorized access. Additionally, consider enabling multi-factor authentication (MFA) methods beyond just backup codes, such as hardware tokens or biometric authentication, for enhanced security.
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