Two-factor authentication (2FA) is a security system that requires two distinct forms of identification in order to access something.
Two-factor authentication can be used to strengthen the security of an online account, a smartphone, or even a door. 2FA works by requiring two types of information from the user - a password or personal identification number (PIN), a code sent to the user's smartphone (called a message authentication code), or a fingerprint - before access is granted.
You can enable the feature from My Account->Account Details-> Two-Factor Authentication Preferences
On Login – set it up to add additional authentication on every login.
On Change Password – Set it up whenever you change your password.
On Change Phone – When you login from a new device.
You can choose where to receive a notification, so you’re constantly aware of any unauthorized activity on your account (SMS, E-mail)
While 2FA does improve security, it is not foolproof. Two-factor authentication goes a step further in verifying Identity from the user simply entering a PIN or CVV number from their credit card.
Hackers can also intercept text messages used in 2FA. Critics argue that text messages are not a true form of 2FA since they are something the user is sent, and the sending process is vulnerable. Instead, the critics argue that this process should be called two-step verification. Some companies, such as Google, use this term.
Still, even two-step verification is more secure than password protection alone. Even stronger is multi-factor authentication, which requires more than two factors before account access will be granted.