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Implications of the Google Authenticator Update
Everyone is concerned about online security, convenience, and other features of cloud-enabled platforms. Cloud syncing can help you maintain security across multiple devices and platforms, but inadequate security provisions are risky and can make you more vulnerable to online attacks. The recent update to Google Authenticator requires extra caution, especially regarding the safety of your crypto assets and other online valuables.
The Value of Google Authenticator
Google Authenticator enhances online security as a two-factor authentication (2FA) application, creating a virtual shield around your online accounts. When attempting to log in to such accounts, the app sends a time-based one-time password (OTP) to your mobile device. Successful login requires the verification of the generated OTP.
Thus, Google Authenticator excels in the following areas:
1- Enhancing Online Security with Time-based Authentication
Google Authenticator significantly complicates attempts to breach online accounts. When you integrate any of your accounts with the app, every attempt to log in to these accounts would require your approval. As the app is installed on your mobile device, only you can authorize logins. Without entering the generated OTP, which Google sends exclusively to the device that has the app installed, login attempts will fail.
2- Offline and Independent Operation
Google Authenticator functions both online and offline. After activating the app on an account using a QR code or secret key provided by Google, the app automatically generates OTPs. Therefore, you don’t need to be connected to the internet all the time to use the app. The randomly generated code digits, valid for 30 to 60 seconds, make it challenging for hackers to breach your accounts via the app since they can only use online means to attempt it.
3- Extensive Usability
You can use Google Authenticator for multiple accounts. For example, if you are a data analyst on a freelance platform and a crypto trader, you can activate Google Authenticator on both platforms. The code generation engine that is part of the app on your mobile phone is separate for each platform, ensuring that the app doesn’t generate the same OTP for multiple accounts. This makes it very convenient to use Google Authenticator to boost the original security layout of these accounts.
The New Google Authenticator Update
The recent update to Google Authenticator introduces the ability to sync 2FA codes with your Google account. This feature facilitates access to your 2FA codes in case you ever lose the device with Google Authenticator. So, Google has devised a means for you to store a one-time code securely, enabling authentication without relying solely on the device with the running authenticator app.
Purpose and Pros of the Update
The update aims to enhance the security of your account and provide more convenient authentication options. With the update, you gain greater control over your online accounts, eliminating the difficulties inherent in moving about with the device with Google Authenticator just so you can approve account logins whenever you need to.
So, the update strengthens the extra layer of security provided by Google Authenticator’s linkage to your online accounts. It improves the authorization process while simultaneously protecting accounts from unauthorized access.
Google initially excluded this feature due to concerns about possible breaches of user accounts. Hackers who gain access to your Google account could potentially obtain authentication rights over all accounts linked to the app. As such, it is a matter of increasing convenience and the quality of security, but also reducing the efforts that hackers would need to breach your online accounts.
Laying out the Downsides to the Update
The main drawback of the new update is the increased potential risk of unauthorized access to accounts linked to Authenticator. Without enabling the update, you can only approve access to these accounts from a single device. However, with the update with syncs 2FA security across as many devices as have your Google account running, you are more vulnerable to hackers.
If a hacker gains access to your Google account, they automatically gain access to every account linked to Google Authenticator. With the one-time code stored in your Google account, they can gain access to everything else.
This poses a threat to users with crypto assets, especially those who secure their crypto accounts with Google Authenticator and turn on cloud sync. For them, hackers no longer need to target accounts individually; they can focus on hacking the Google account and use the one-time 2FA code to authorize attempts to steal assets.
User Reactions and Considerations
Regarding the update, some users have provided positive feedback. They no longer need to carry a mobile device solely for Google Authenticator or write down secret codes. Instead, they can easily authorize account access from any of their devices, provided they can access their Google account.
However, other users are concerned about the implications, especially the perceived increased ease with which hackers can breach their crypto accounts. While the increased risk is currently hypothetical, the average user is apprehensive. Previously, hackers would need to breach multiple crypto accounts individually, but now they potentially gain access to all of them by compromising a user’s Google account.
Disclaimer
It is important to note that the Google Authenticator update is optional. You are not required to install it. This is a relief in and of itself. However, your decision will impact how you use the app going forward.
Enabling the update offers greater convenience for authorizing access to linked accounts but also exposes you to the potential risk of losing your cryptos if your Google account is successfully breached.
Kyrrex's Recommendations
The most practical choice is to keep your authenticator app as it is and not enable the new update. This way, although you will miss out on the improved convenience of account login authorization, you will also avoid the increased risk of losing all your assets. Enabling the feature makes the risk of losing your crypto assets from hacker activity more likely.
Thus, we recommend that you choose security over convenience. The risk of losing all your crypto assets to one successful breach is too great.
More more useful articles keep tuned via Kyrrex Blog.
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Kyrrex Teams up With Vireye to Enhance the Gaming Experience
Kyrrex is happy to announce the next joint project with Vireye. This collaboration aims to redefine the gaming economy by integrating cutting-edge crypto technologies and modern play-to-earn concepts. Kyrrex will facilitate the first withdrawal of tokens within HamstaParty, a casual competitive game designed to elevate the overall experience. The synergy between Kyrrex's secure and efficient crypto platform and Vireye's vision for a dynamic ecosystem creates an unprecedented opportunity for gamers.
HamstaParty is available on iOS and Android.
Unique Experience for Everyone
HamstaParty is a fun journey into the vibrant Hamsta World. This game offers a diverse range of activities suitable for all ages. Set in a bustling hamster town, players can customize their adorable characters with unique skins, adding a personalized touch to their experience.
Each HamstaParty match is a quick and engaging burst of excitement, lasting under 90 seconds. The game's simplicity and intuitive design, coupled with a fresh approach to prize distribution, ensure that every player has an equal chance to win. Vireye is rapidly expanding the number of mini-games. The current roster includes HamsterRunner and HamstaDodger, with two additional games, Hamsta Jumper and Hamsta Grounds, set for release by early 2024.
Try 'Fun and Earn' with Kyrrex
HamstaParty's mission revolves around the concept of 'Fun and Earn.' Initially, players enjoy a well-spent time, victories in collecting Golden Beans, and unique character customization. Over time, this evolves into a compelling source of earnings. At the core of HamstaParty is its unique currency ecosystem, featuring Beans and Golden Beans:
- Beans. The primary in-game currency for playing mini-games and purchasing common skins and accessories.
- Golden Beans. The exclusive currency offers special features such as entry to Hard mode contests and acquisition of high-tier limited items.
Developers create an infrastructure that allows players to exchange Golden Beans for partner project tokens. Now is the opportune moment to become an Early Bird and join the game as it gradually builds its audience. Players can play and earn Golden Beans through various in-game activities, turning it into an exciting play-to-earn venture.
Obtaining Golden Beans is possible through daily bonuses, winning duels, competitions, community participation, testing, and completing special tasks. The first withdrawal of Golden Beans to partner tokens is imminent, facilitated by Kyrrex, with the drop costing $5,000, open to all participants. Negotiations are underway to enable the future exchange of Golden Beans for KRRX tokens without restrictions.
Stay tuned for more information about HamstaParty! Follow Kyrrex on social media to get the latest news about its projects! Join Discord.
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Kyrrex's Partner Bidsbee Launching Its Services
Crypto trading has always been a privilege for experienced traders with high-risk appetites, however, the times have changed, and new services come into existence that serve both professional traders and provide access to the world of crypto trading for newbies.
Bidsbee, Our Partner Platform for Social Crypto Trading, Is Going Live
Bidsbee, our partner platform for trading crypto, is one of such services, and it has gone live. The Bidsbee founders and investors believe that all the benefits of crypto trading shall be accessible to anybody independently of their knowledge and experience. To make it happen, the platform offers such benefits as:
- An opportunity to manage all CEX accounts in a single place.
- Complementing the basic CEX functionality by adding an extensive range of instruments and enabling expert traders to benefit in any market conditions.
- Allowing beginners to leverage the expertise of professionals by copying their trades.
- Accurate and consistent statistical data and alerts for a more systematic approach to trading.
Along with extensive functionality and easiness of use, Bidsbee offers all willing to learn more about crypto trading an extensive section of educational materials and guides. With it, the team aims to popularize crypto trading and speed up the mass adoption of crypto.
Trading in a Non-custodial Environment
Bidsbee doesn’t store users’ funds, nor does it require them to pass a KYC process. The platform applies the strongest security measures to ensure that all users’ API keys are safe, and funds are secured.
Thus, traders can focus on their trading activities and earning while Bidsbee takes care of the safest environment for doing so.
Crypto Trading Made Accessible to Anybody
With Bidsbee, trading stops being an area for selected ones. The platform launches the Copy Trading functionality for those who prefer relying on the expertise of professionals, and those who want to test their strategy or try themselves in trading without losing funds, trading with a virtual balance is available.
Bidsbee Functionality
1. Copy Trading
The Copy Trading functionality is developed for beginners and those traders who cannot monitor the market constantly but instead, prefer to rely on the expertise of their colleagues.
To start copying the selected trader’s orders, one shall perform the following steps.
- Create an account on Bidsbee.
- Connect the accounts on CEXes to Bidsbee by using API keys.
- Select a trader whom one wants to copy, and subscribe to.
Once done, the orders of the selected trader will be copied to the subscriber’s account. It is possible to unsubscribe from a trader at any time, and new orders won’t be copied.
The Copy Trading functionality delivers benefits not only to beginners but also to professional traders. Those can open a Public Trader account and let others subscribe to them thus getting additional income.
2. Crypto Terminal
Aiming at providing the top opportunities for traders with any experience and knowledge level, Bidsbee offers an ultimate Crypto Trading Terminal created by traders for traders. A comprehensive set of trading instruments, the widest range of order types, and the use of elaborate trading algorithms promise to bring crypto trading to a qualitatively new level.
3. Crypto Signals
Leveraging all the opportunities that the crypto market offers is impossible without reliable and consistent signals. Traders can choose and set up the crypto signals as per their needs and receive them directly in Telegram.
4.Trading Bots
Those who prefer to automate their trading activities can explore an extensive set of trading bots. Pick one or several bots, purchase them, set them up, and make them trade for you.
Disclaimer
Crypto trading is a highly risky activity. This is why, even though Bidsbee offers all the possible tools to benefit from crypto trading, it doesn’t guarantee you a profit or the absence of losses. The team recommends you to do your own research before placing any order, and use only those funds for trading that you can afford to lose.
New Opportunities for All Types of Traders
Bidsbee aims at making crypto trading accessible to anyone without any limitations and offering top functionality to enable traders to benefit in any market conditions. Future product development is led by this goal. The team is ready to face the challenges and work on adding new functionalities and developing and improving the existing ones to make trading transparent and profitable.
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Kyrrex Surprises MotoGP Fans With a Massive Giveaway
As a cryptocurrency platform passionate about the high-speed world of sports, Kyrrex has reached a significant presence in MotoGP. We stand up for speed, strategy, and success, much like the elite athletes we sponsor.
Our ambassadors consistently deliver outstanding results promoting our brand. Their latest triumphs in the MotoGP and Moto2 championships in Thailand, Australia, and Indonesia have showcased the Kyrrex logo for millions of people.
In light of our representatives' accomplishments, Kyrrex is proud to unveil a grand giveaway that will bring our users closer to the MotoGP experience. Every new user who joins Kyrrex and verifies his account to make the first deposit gets a chance to receive:
🎁 10 Valencia MotoGP Grand Prix tickets;
🎁 10 t-shirts autographed by Jorge Martin or Aleix Espargaro;
🎁 Additional cash bonuses;
🎁 For one ultimate fan, an exclusive one-day MotoGP paddock pass.
Begin your journey by registering on the Kyrrex EU platform through our app or website. Next, verify your account to ensure a safe and secure trading experience. Finally, activate your trading by depositing a minimum of 20 EUR, confirming your giveaway entry.
This thrilling competition is already underway and will conclude on November 15th, with the winners' announcement planned for November 17th. Follow our social media channels for details.
This giveaway is just one of many surprises and projects in collaboration with our MotoGP ambassadors. Keep your engines running and stay tuned for more info!
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