BitMarket.eu now supports two-factor authentication

A long overdue security feature is now implemented on BitMarket.eu: two-factor authentication. This greatly enhances your account security, by letting you log in to your account only after entering time-based generated token, in addition to your account password. I encourage every user, especially everyone who use BitMarket.eu to store their Bitcoins to enable this feature. You can find it after loggin in, under Account section -> Security tab.

To use two-factor authentication, you must have a compatible smartphone which runs Google Authenticator, a free application from Google that implements open TOTP (time-based one time passwords) standard. More information about how to get this application can be found on Google support site. This app is compatible with Android, iOS and Blackberry platforms. Alternatively, you can use open source HTML5 implementation of Google Authenticator. It has been packaged using Adobe PhoneGap framework and can be downloaded here. HTML5 version supports Android, Windows Phone, webOS and Symbian.

Note that you will be asked for the token on every login, so you must your device with you every time you want to log in to your account. You will also be asked for the token if you want to disable two-factor authentication, and if you forget your password.

What happens if you lose your device? When enabling this feature, you will be presented with a one-time, unique, 16-character recovery code. Please write it down on paper and store it somewhere safe. In a event of losing your smartphone this recovery code will enable you to access your account.

If you have any questions, or suggestions regarding this feature, feel free to speak up.