Always use max security options that they offer you. Use google authenticator or some other similar method. These security options aren't there for no reason. These protect you from someone that wants to hijack your account and steal your funds. If your assets are important to you, which I believe they are, then use maximum security possible.
Yes of course because wallet is the store of our coin which need to secured because there's possibility it can be hacked. So its better to secure our wallet and have a strong combination of password that cannot be easy to guess like combination of letters and numbers, then make a password that don't have connected to you.