Two-factor authentication is an easy and effective way to increase security for our customers. The idea is simple. When you log-in to your PeerStreet account you will receive a code via text message or from an authentication app (like Google Authenticator for iPhone or Android), and you will be asked to enter that code prior to gaining access.
The steps to turn on two-factor authentication are easy: log-in to your PeerStreet account as you always have, go to “My Account” in the top right corner, under “Security” you’ll see “Two-Factor Authentication.” Click the “Edit” button to the right. Once inside your two-factor authentication page, enter your cell phone number or scan the barcode for the authentication app. From there you will be sent a verification code and you can turn on two-factor authentication. You’ll know it has been processed because a green “on” button will appear next to the title of your screen along with telling you what authentication method you have chosen.
PeerStreet employs high security controls to protect your data, but as the web gets more complicated, there are many ways a password can be cracked, stolen or otherwise hacked. For example, if your PeerStreet password is used anywhere else on the internet (which ideally it would not be), it’s possible that it may become compromised. With two-factor authentication you are significantly better protected in any of these scenarios.
We value your business and your protection is paramount. While it is currently not compulsory to do so, we are strongly encouraging investors to opt-in.
As an interesting side note, this feature was first developed as part of our annual PeerStreet Hackathon. Our product and engineering teams ran with it and we’re all very happy to see it launch today.