- Bitfinex launches support for Universal 2nd Factor (U2F) Authentication
- The Users can also verify their credentials with Google Authenticator
- There are no processing fees for using Bitfinex Pay.
Bitfinex, a digital asset trading platform announced the support for Universal 2nd Factor (U2F) authentication on Bitfinex Pay. Bitfinex Pay is a payment technology that allows online merchants a means of receiving contactless and borderless digital token payments.
This move can increase the adoption of the Bitfinex Pay widget for online stores and merchants. The widget can be integrated into a website. Users can pay with Ethereum (ETH), Bitcoin (BTC), Lightning Network BTC(LN-BTC), and Tether tokens (USDt) via Ethereum or Tron. Payments made via Bitfinex Pay will be directly deposited into a merchant’s exchange wallet on Bitfinex.
Users who don’t have two-factor authentication (2FA) will be promoted to do so in Bitfinex Payment gateway. Now users will have an additional option to authenticate their digital token payments along with Google Authenticator.
U2F keys are physical USB devices from companies that allow users to bypass traditional-app and text message-based two-factor authentication schemes. The devices can be used across laptops and mobile devices and require a six-digit passcode to grant payment approval.
“As a trailblazer in digital payments, Bitfinex Pay has already become a popular payment tool and with the addition of U2F we are providing our users with further means of protecting themselves,” said Paolo Ardoino, CTO at Bitfinex. “These security keys make it almost impossible for a hacker to intercept both your password and two-factor code.”
Customers of a registered merchant can choose the “Pay with Bitfinex” option upon checkout. After payment is made using crypto accepted by the merchant, a customer will be redirected back to the merchant’s website. There are no processing fees for using Bitfinex Pay.