Binance Introduces Customizable Two-Factor Authentication

Binance introduces customizable 2FA and passkey recommendations.

The cryptocurrency exchange Binance has implemented a customizable two-factor authentication (2FA) feature and provided recommendations on using passkeys to secure accounts. This was announced in a blog post by the platform.

The new system allows users to choose when additional verification is required—whether during account login, fund withdrawals, trading, or other operations.

How Customizable 2FA Works

To enable the feature, navigate to the “Account” → “Security” → “Two-Factor Authentication Method” section. Users can set confirmation requirements for various scenarios:

• system login;
• asset operations, including withdrawals, P2P trading, and payments via Binance Pay;
• account settings changes.

Each action can have its own level of protection based on usage frequency and risks.

“This means you can build a security system that suits you personally. For instance, choose a passkey for quick login but require multiple verification methods before withdrawing funds,” the Binance blog states.

Binance recommends using passkeys as the primary 2FA method.

What is a Passkey?

This authentication method is based on public key cryptography: the private key remains secure on the device, making it resistant to phishing and SIM swapping. Such attacks can compromise traditional 2FA methods like SMS or email.

Passkeys also synchronize between devices, allowing quick biometric logins without passwords or one-time codes. Thus, their use in 2FA settings provides both enhanced security and convenient access.

To activate a passkey:

1. Open the account security settings.
2. Find the Passkey section.
3. Follow the instructions to link the device.
4. Confirm the setup via biometrics.

Back in August, Binance and other exchanges launched a network to combat crypto crimes in real-time.