Ideas about multi-factor authentication requirements for obtaining your private keys/phrases

I think multi-factor authentication is a pretty useful tool, especially effective in layers. For obtaining your private keys and restore phrases, I believe integrating multi-factor authentication into Brave Wallet/Browser would be a very efficient safeguard against losing access, and deterrent of potential abuse by unauthorized parties.

My suggestion is to have brave wallet linked with 2 separate email accounts, and those accounts linked with this community. Additionally, some 2fa with a text sms, Google authenticator, even pre-ajswered questions (i.e. who was your first grade teacher) would go a long way in securing any assets held within brave wallets. I understand that devices get lost and stolen, and I believe that a “more is better” approach is the key to making sure the ability to restore is possible when unfortunate circumstances befall us.

If it’s important, it’s best to be safe. I’d like to hear what this community thinks is the best approach to wallet security and restoration ability.

Thanks

A few of the philosophies of crypto are privacy, anonymity, and security. The problem is it is quite difficult to hit all 3 birds with one stone. Your suggestion is a sound measure of security and is pretty much a standard across other financial instruments. However, you sacrifice anonymity by linking your wallet address with an email address. Who then is in charge of storing your email and protecting it from potential breaches? The current method is great for anonymity but subpar for security.

I think the best way to use these wallets is to connect them to a hardware device like a trezor or ledger. That essentially serves as the second layer of protection as your private keys never leave the hardware device. Most users may not have a hardware device, so the next best thing they can do is limit the amount of crypto they store in these web wallets.

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That is a great idea. The only problem I see with that is access itself, as the cost of those devices could be used for more crypto! A free, or less expensive hardware solution might increase the awareness of hardware wallets, increasing the use of devices for key storage.

I memorize my phrases and never have anything physical. I also have a backup created with my own encryption. It’s specifically tailored to my existence and I couldn’t forget it if I wanted to. So far, it has stumped everybody except my mother, who got 2 words.

My sister taught me something about crypto, after I taught her about how it works.

She said knowledge is something no one can ever take away from you. They can throw you in jail or a refrigerator, threaten and torture you unmercifully.

The only way they get your cryptocurrency is if you tell them the key phrases. That’s why I only have them in my head and use my own encryption for it’s backup.