How to use KaratBit: How to re-activate 2-Factor Authentication (2FA)

22 Comments

In this tutorial you will learn how to re-activate 2-Factor Authentication (2FA) in your Karatbit account.

As you may know, this summer (2019) Karatbit made activation of 2FA mandatory.

In fact, now, unless you activate your 2FA, you won’t be able to place ‘buy’ or ‘sell’ orders on Karatbit.

The purpose of 2FA is to protect your Karatbit account from being hacked.

If you haven’t logged in into your Karatbit account since this change was introduced, now when trying to login you will see this message in the red box (Screenshot 1 below).

 

“For security reasons, KaratBars Login system is disabled. To be able to access your account, please generate a new password using Forgot password?”

 

So, it means that now you can’t log in with your Karatbars credentials anymore (if you did use them in the past).

Now, to be able to login, you need to create a new separate password for your Karatbit account.

How to use Karatbit: How to renew Two-Factor Authentication on Karatbit

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To create a new password and re-activate 2FA, follow the steps below or watch the video.

 

 

How to create a new password

  1. Again, go to https://karatbit.com and click Login.

  2. Click on Forgot Password? (see Screenshot 1 above)

  3. Enter an Email you used to register with Karatbars (or the email you used to register with Karatbit) and then click Send Email

  4. If this email exists in the database, Karatbit will send you a Reset Password Notification email within a few minutes

  5. Open this email and you will see a blue Reset Password button.(Screenshot 2 below).

    • Note: Some email clients won’t generate a link correctly for the Reset Password button. To ensure you are clicking on the correct link, copy the url provided at the bottom of the email and paste it into the url field directly.

    • Also note, that every time Karatbit sends you an email it generates a Unique Security Token which you can view at the bottom of the email. Using this token you can check whether an email is coming from Karatbit versus scammers.

 
How to use Karatbit - How to renew Two-Factor Authentication on Karatbit

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5.  Then on the Reset Password page enter your Email again

6. Then enter your new Password. The password must have at least 1 uppercase letter, 1 lowercase letter, 1 digit, 1 symbol, and minimum of 7 letters. Then re-type password in Confirm Password field

7. Click Reset

8. Once you see “Your password reset has been successful” message, click on Login in the upper right corner again

9. Enter Email and Password again and click Log In

10. To repeat, for security purposes, Karatbit made 2-Factor- Authentication to be absolutely mandatory now.

    • Until you have 2-Factor Authentication activated, some features in your account will be disabled. You will see “You are not allowed to place orders. Please activate your 2FA” message (Screenshot 3 below).
How to use Karatbit - How to renew Two-Factor Authentication on Karatbit_4

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How to re-activate 2-Factor Authentication

1. To re-activate 2-Factor Authentication, click on the 2FA link on this message (Screenshot 3 above)

2. You will be taken to a page with instructions  how to activate  your 2-Factor Authentication. Below is the summary of the instructions (Screenshot 4 below):

    • Note: For security purposes, you will be able to withdraw funds and change your account settings 72 hours after activating 2FA.
How to activate 2-Factor-Authentication 1. To activate 2-Factor-Authentication, click on the 2FA link on this message. 2. You will be be taken to a page with instructions  how to activate  your 2-Factor-Authentication. Below is the summary of the instructions (Marked 2 below) 3. Also, note for security purposes, you will be able to withdraw funds and change your account settings 72 hours of activating 2FA.

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3. Basically, to activate your 2-Factor Authentication, download the Google Authenticator app on your smartphone and scan the provided QR code.

    1. To get Google Authenticator app, click on Android or iOS logo provided (under the QR code)

    2. Note: Please write down on a piece of paper and keep in safe place a code in the Code field. It’s vital for your 2FA recovery in case your phone refuses to work or you lose it.

    3. Once you download the app, open the app and scan the QR code provided on the page. To scan it, click on the red circular ‘+’ icon at the bottom right of the app and select Scan a barcode

    4. After scanning, your Google Authenticator will say “The secret is saved”. That means, your phone is paired with Karatbit platform now.

    5. In order to activate 2-Factor Authentication, in the Secret field, type in the password shown in your Google Authenticator app.

    6. For example, let’s say your Google Authenticator shows you this password: 4-7-9-3-8-4. Type 4-7-9-3-8-4 in the Secret field

    7. Click Activate. Once you see “Two Factor Authentication is already enabled” message that means your 2-Factor Authentication is activated. Congrats, now you are much safer from hackers!

Let me know if you need a hand at mivaniuk@shaw.ca 🙂

 




22 Comments

    • Margarita

      Hi Peter,

      There are many ways to do it.
      The amount of money you make is always going to be proportional to the value of what you do and the difficulty of replacing you.
      More real value to others = More money 🙂

      The most pleasant way to make money is to make a business out of your hobby.

      Do you love to workout? Create an online course for kids under 15 on the most effective workouts to build their self-confidence, for example.

      Are you a computer geek? Create an app that chooses a diet for an individual based on their interests and taste preferences.

      If you are asking this question in the context of Karatbars.

      First, open an account with Karatbars
      Second, complete these 5 steps

      While you do the above, prepare your mind to create the wealth of your dreams by reading these 2 books. Note: Your fertile mindset is the single most important ingredient to financial success

      1. Listen to Napoleon Hill’s The Law of Success Course in 16 Lessons
      2. Read Tony Robbins’ Money: Master the Game: 7 Simple Steps to Financial Freedom
      You can also listen to this book by using a narrator feature.

      All questions are welcome 🙂

      Reply

    • Margarita

      Hey,

      It’s all good.

      In this case, you will need to contact Karatbars to disable 2FA for you so that you can get into your account.

      Tomorrow is Monday, so call Karatbars at +1 224 829 00 47 if you are in Canada or US. And in European Union or UK use +49 (0) 711 128 970 00. Call them ASAP.

      1. Once 2FA is deactivated you will be able to log in into your account without having to enter 2FA code.

      2. After you log in, while staying on the same page, scroll down and you will see “You are not allowed to place orders. Please activate your 2FA” message.

      3. Then download Google Authenticator app on your phone again.

      Let me know how this goes for you 🙂

      Reply

  4. Camila

    Hi! I have already activated the 2FA but unfortunately I did not copy the code, just saved the QR. what can I do to have the code so I can save it, just in case someday my phone gets lost?

    Thanks!

    Reply

    • Margarita

      Hi Camila,

      In the future alternative ways to recover 2FA I’m sure will come up (if you lose your phone, etc). Subscribe to my newsletter (on the right) to get notified if this happens.

      However, there is no way to recover the backup code that I know of (the one you were given at registration).

      Anyways, it’s all good, think positively and all will turn out wonderful for you 🙂

      Reply

    • Margarita

      Hi Jesica,

      I apologize for a delay.

      At this time, Karatbars may take longer to answer than usual.

      Are you certain that the code you are entering is associated with this particular Karatbit account?

      If you are sure, to reset 2FA, contact support@karatbit.com and send 3 things listed below (if you haven’t done so already).

      1. Copy of your ID card (a second identification document can be required)
      2. A selfie with you holding your ID card
      3. Your Skype Username (if you don’t own a Skype account, please create one).

      ~~~~

      To speed up the process, also call Karatbars at +1 224 829 00 47 if you are in Canada or US.

      If you are in European Union or UK, call +49 (0) 711 128 970 00.

      Again, you may have to dial a dozen times before you can reach them. So, a little patience 🙂

      Enjoy your majestic day 🙂

      Reply

    • Margarita

      Hi,

      I see.

      You will have to ask Karatbit to deactivate 2FA for you, which will require the following 3 things:

      1. Copy of your ID card (a secondary identification document can be required)
      2. A selfie with you holding your ID card
      3. Your Skype Username (if you don’t own a Skype account, please create one).

      Send it all to support@karatbit.com.

      Above measures may sound a bit too much, however that’s all for security sake.

      ——–

      After your 2FA got deactivated, follow the steps below to re-activate 2FA.

      1. Once 2FA is deactivated you will be able to log in into your account without having to enter 2FA code.

      2. After you log in, while staying on the same page, scroll down and click on the link in “You are not allowed to place orders. Please activate your 2FA” message.

      3. You will be taken to a page with directions how to reactivate your 2FA.

      🙂

      Reply

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