Lets talk about getting an account on an exchange and what you will be asked to do for security reasons.

You will first be asked to get verified to make sure they know who you are (some exchanges allow for more anonymity than others).

After you are verfified by sending a photo of your drivers license (both sides) and perhaps your social insurance number and maybe a full electronic copy of your last bank statement you will be given an account.

2 factor authentication basically means that you will have to go through two steps each time you log in so that someone who may break into our online account or break into your house can’t easily get into your account.

This may simply be a call back on your cell phone with a number that you punch into your online account.

It could also be the Google authenticator which can be a 10 minute procedure to set up where you fill out a form and scan the QR code and then install an app on your cell phone that you must press every time you want to log onto your account.

This Google app on your phone will generate a new number each time and that is the number you enter to prove that you are authenticated.

I don’t know how much resources it uses to be sitting on your cellphone maybe running all day and nite.

(under construction Dec 19, 2021)