What is two-factor authentication and why should I use it?

Updated 3 months ago by Kevin Linser

Your Selma account can be secured using two-factor authentication. It is an extra layer of security for your Selma investment account, which ensures that you are the only person who can access your account, even if someone knows your password.

How does it work?

When you activate two-factor authentication, your account can only be accessed with the help of a device you trust, your mobile phone. When you want to sign in to your Selma account, you’ll need to provide two pieces of information:  your password and a six-digit verification code that is shown on your phone – either via an SMS or using an authenticator app.

    How do you activate two-factor authentication?

    1. In your Selma Account, go to Menu > Settings. Scroll to Two-Factor Authentication > Set up.
    2. Verify your password before you continue

    3. Enter your mobile phone number
    4. Set up two-factor authentication by verifying your phone number using the confirmation code that was sent to you via SMS.
    5. Two-factor authentication is activated.

    Using an authenticator app

    You can use an authenticator app instead of SMS messages as the second verification step. This is optional but recommended. You can then use an authentication app, like Google Authenticator and then log in regardless of whether the text message reaches you or not.

    You can use any app that is able to generate compatible Time-based One-time Password Algorithm (TOTP) based codes.

    How to set it up

    1. First, you need to install one of the supported apps:

    2. Next, in Selma’s two-factor authentication settings, click on “Enable authenticator app”

    3. Follow the on-screen instructions: scan the QR code using your authenticator app and insert the code from the app to the field in Selma.

    4. Click confirm, and you’re all done!


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