What is two-factor authentication (2FA) and how do I activate it?

In addition to the conventional login method, using an email address and a password, online accounts can be further secured by so-called two-factor authentication (2FA).

If two-factor authentication (2FA) is activated, a numerical code valid for a limited period of time is also requested during login in addition to the login data. This numerical code is generated via an app (e.g. Google Authenticator).

Tip: The additional query of this numerical code during login increases the security of your Bitpanda account, which is why we recommend to always activate two-factor authentication (2FA).

Publishers

Note: All mentioned 2FA-apps are from external providers. These examples are provided as a convenience and for informational purposes only. They do not constitute an endorsement or a recommendation by Bitpanda of any of the products, services or opinions of these third parties.

There are several 2FA-apps, but the most common are:

  • Google Authenticator (Android und iOS)
  • Authy (Android und iOS)
  • Authenticator+ (Windows Phone)

Activating two-factor authentication (2FA)

To activate two-factor authentication (2FA) on your Bitpanda Account, please follow these steps:

DesktopMobile App (Android)
  1. Download your preferred 2FA-app to your smartphone
  2. Log in to your Bitpanda Account
  3. Click on your User Icon and choose Security
  4. At two-factor authentication (2FA) click on Set up
  5. Enter your password and click on Continue
  6. Secure the displayed 2FA recovery code so that only you have access to it and click on Continue. This code is necessary to reset two-factor authentication (2FA) if you lose your smartphone for example
  7. Enter the 2FA recovery code you just saved into the field and click Continue
  8. Now scan the displayed QR-Code with your 2FA-app. A new entry appears in your 2FA-app, consisting of the name "Bitpanda" and a six-digit numerical code
  9. To complete the setup, click on Continue, enter the six-digit numerical code displayed in the 2FA-app on the Bitpanda website in the field and click Enable two-factor authentication. Note that the numerical code in the 2FA app changes every 30 seconds for security reasons. Therefore, always enter the current numerical code

Note: Secure the 2FA recovery code before clicking Enable two-factor authentication as it will not be displayed again.

Tip: You can also print out and store the QR-code safely. If you lose your smartphone or uninstall the 2FA-app, you can restore your 2FA entry in the 2FA-app yourself.

Login with activated two-factor authentication (2FA)

The six-digit numerical code displayed in your 2FA-app is requested at login as a second step after entering your password, email address and reCAPTCHA.

To log in, please follow these steps:

DesktopMobile App (Android)
  1. Log in to your Bitpanda account as usual with your email address and password and solve the reCAPTCHA if necessary
  2. You will now be asked to enter your two-factor authentication (2FA). Open your 2FA-app on your smartphone and enter the displayed six-digit numeric code in the corresponding field on the Bitpanda website
  3. If the numerical code is correct you will be logged in automatically. But you can also click on Confirm

Troubleshooting

  • Time expired
    Note that the numerical code in the 2FA app changes every 30 seconds for security reasons. Therefore, always enter the current numerical code
  • Time synchronization
    If your Bitpanda 2FA-entry doesn't work, you could try to get it fixed by navigating into the app-settings and synchronising the time
  • Smartphone lost/broken or no access to the app
    If the smartphone or app is no longer available, the 2FA entry needs to be reset. If you have saved the 2FA recovery code during setup, you can do the reset on your own
  • If your 2FA recovery code has been lost, we need to reset your 2FA for you
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