Gemini crypto exchange is boosting the security of its network following the integration of hardware security key support functions. This move is meant to make the Winklevoss run digital currency exchange more secure, given the history of hacks in the crypto industry. The new support function for hardware keys on the Gemini exchange will allow users to leverage added security from providers like Yubikey.
According to a statement on July 13, Gemini app users on both Android and iOS now have the ability to authenticate their login via Web Authentication (WebAuthn). This is a security interface that uses public-key cryptography to validate multiple users of internet apps. The statement reads:
“Gemini customers can now use USB and near-field communication, or NFC, security keys to sign into the Gemini Mobile App securely.”
The Two-Factor Authentication (2FA) Value
Gemini’s support for hardware security keys underscores the value of two-factor authentication. This initiative will prevent sim-swap attacks and possible hacks, as per Gemini’s prospectus. Only the hardware key owner can access their account even if their login credentials have been compromised.
Gemini has been working on this milestone in collaboration with Yubico’s Yubikey, a security provider whose services can now be integrated with the Gemini exchange.
“Yubikeys provide a secure, cross-platform solution you can use to access your Gemini account via our Mobile App, as well as any other sites that support WebAuthn.”
Gemini has since noted that users looking to take advantage of the new security features fully should register at least two hardware keys, one that is supported within their mobile devices and a cross-platform service such as Yubikey.