Bitcoin and Ethureum users can now breathe a sigh of relief as Gemini is set to enable the much awaited Authy Push security transaction feature on its channel today. The move seems to come as a safety precaution after numerous reports emerged on the mainstream media concerning malware attacks on various WordPress websites, in the recent weeks. Gemini, which has been using the Two Factor Authentication (2FA) for all account transactions since its launch, is a digital asset exchange platform based in New York. The company is legit and complies with the regulations of the New York State Department of Financial Services (NYSDFS).
In their earlier statements, Gemini developers indicated that the newest feature, allows individuals to receive Authy push notifications on every transaction while safeguarding all sensitive personal information. They go ahead to explain that, though the current authentication systems are good enough for daily activities on their platform, they aren't 100% secure from hackers, hence the need to come up with a coherent solution.
Further details on the company’s official website seek to clarify that 2FA on its own is not sufficient enough, as the time frame between transactions and session expiry in most consumer systems could be the main reason for the rising malware trends. This is because, at the beginning of each login session, users provide sensitive information such as passwords and short-time passcodes, something hackers could take advantage of to gain unauthenticated access to the system data. Consequently, phishing attacks indicate possible vulnerability to impersonation at the verge of the 2FA code expiry period.
According to the analysis, lack of proper security information from the customer side leads to approval of illegal actions that the use of Authy push notifications can help curb.
How Does Gemini Authy Push Work?
Customers have to install the application on their smartphones for primary verification purposes. Through this, only account owners can authenticate transactions on their Gemini accounts. The good news is that the App operates from a completely independent platform thus leaving zero chances for manipulation from any other system imposter.
All transactions are set to take effect only after the customer presses the “Approve” button, which also gives a chance to “decline” in case of any arising concerns such as minor data mistakes. The process can only take place on a mobile App. Therefore, there is no access to any browser, as the system will just recognize confirmation signals from users' mobile Apps.
However, customers will have to log into their Gemini accounts using primary browsers as the company doesn't own a mobile App at the moment. Through this, users enjoy all channel activities without the fear of hackers as their accounts get protection from the out of band feature.
Since the UI contains all the receiver details, customers get the opportunity to recognize theft attempts. Also, users stand to receive Authy push notifications on their mobiles even in cases of malware attacks, thus helping them take necessary measures and seek professional help on time.
The move is already receiving a positive reception from top Cryptocurrency investors and experts, who applaud Gemini for “being proactive” and “having their customers' interests at heart.” Gemini through their official website urges all their customers to consider using Authy Mobile App to enhance the security of all transactions.