In today‘s digital age, our mobile phone numbers have become more than just a way to make calls or send texts. They are a crucial part of our online identities, serving as a key verification method for many online accounts, including financial services like cryptocurrency exchanges.
For Coinbase users, keeping your phone number up-to-date is essential for maintaining account access and security. In this comprehensive guide, we‘ll dive into why phone numbers are so important, walk through the steps to change your number on Coinbase, and explore some tips and best practices for securing your account.
Why Your Phone Number is Critical for Coinbase Security
When you sign up for a Coinbase account, one of the first pieces of information you‘re asked to provide is your mobile phone number. This isn‘t just for convenience or marketing purposes – it‘s a critical part of Coinbase‘s security infrastructure.
Two-Factor Authentication (2FA)
Coinbase requires all users to enable two-factor authentication (2FA) in order to trade, deposit, or withdraw funds. 2FA adds an extra layer of security beyond your password alone. Even if a hacker manages to obtain your password, they would still need access to your phone to receive the one-time verification code and access your account.
By default, Coinbase uses SMS text messages for 2FA. Whenever you attempt to sign in or make certain changes to your account, Coinbase will send a unique, time-sensitive code to the phone number on file. You must enter this code to proceed. This ensures that even if your password is compromised, your account is still protected.
Account Recovery
In the event that you lose access to your account – whether you‘ve forgotten your password, lost your 2FA device, or otherwise been locked out – your phone number serves as a backup method to verify your identity and regain entry.
The account recovery process involves verifying your identity with a government-issued ID and receiving a verification code at the phone number associated with your account. Without an up-to-date phone number, recovering your account becomes much more difficult, if not impossible.
Combating SIM Swapping Attacks
However, using phone numbers for authentication is not without its risks. One growing threat is SIM swapping attacks, in which a hacker convinces your mobile carrier to transfer your phone number to a new SIM card in their possession. They can then receive your verification codes and gain access to your accounts.
According to the FBI, SIM swapping attacks have been on the rise in recent years, particularly targeting cryptocurrency investors. In 2021, the FBI received 1,611 SIM swapping complaints with adjusted losses of over $68 million (source).
To combat SIM swapping, Coinbase has implemented additional security measures such as ID verification and device authentication. However, keeping your phone number up-to-date remains a critical first line of defense.
How to Change Your Coinbase Phone Number (Step-by-Step)
Whether you‘ve gotten a new phone number or simply want to update the one on file for security purposes, changing your phone number on Coinbase is a straightforward process. The exact steps will depend on whether you still have access to your account or not.
Method 1: Changing Your Phone Number from Your Account Settings
If you still have access to your account and simply need to update your phone number, you can do so from your account settings on the Coinbase website or mobile app. Here‘s how:
On the Coinbase Website:
- Sign in to your Coinbase account at coinbase.com.
- Click your profile icon in the upper right corner and select "Settings" from the dropdown menu.
- On the Settings page, click "Security" in the left-hand sidebar.
- Scroll down to the "Phone Number" section and click the "Edit" button.
- Enter your new phone number in the field provided and click "Change Phone Number".
- You will receive an SMS text message with a 7-digit verification code at your new phone number. Enter this code in the prompt on the Coinbase website to verify your new number.
- Once verified, your new phone number will be saved to your account and will replace the old one for 2FA and account recovery purposes.
On the Coinbase Mobile App:
- Open the Coinbase app on your mobile device and tap the menu icon (three horizontal lines) in the upper left corner.
- Tap "Settings", then "Account" in the menu that appears.
- Tap "Phone Numbers" to view your current phone number(s) on file.
- Tap "Add Phone Number" and enter your new number in the field provided.
- You will receive an SMS text message with a 7-digit verification code at this new number. Enter the code in the app when prompted.
- Once the new number is verified, you can remove your old number by tapping the trash can icon next to it in the "Phone Numbers" menu.
And that‘s it! Your new phone number should now be set as your primary 2FA method and account recovery option. Be sure to double-check that the number was entered correctly to avoid any issues down the line.
Method 2: Resetting Your Phone Number via Account Recovery
But what if you‘ve already lost access to the phone number associated with your Coinbase account? In this case, you won‘t be able to sign in or receive 2FA codes, so changing your number from your account settings isn‘t an option.
Fortunately, Coinbase offers an account recovery process to help you regain access and set a new phone number, even if you‘re locked out of your account. Here‘s how to do it:
- Go to the Coinbase sign-in page and enter the email address associated with your account. Leave the password field blank and click "Forgot password?".
- On the next page, click "I no longer have access to my 2FA device" to start the account recovery process.
- Enter your new phone number in the field provided and click "Continue".
- To verify your identity, you‘ll need to submit photos of both sides of your government-issued photo ID. Coinbase accepts driver‘s licenses, passports, and national identity cards.
- Once your ID is uploaded, you‘ll receive a 7-digit verification code by SMS at the new phone number you provided. Enter this code in the prompt on the Coinbase website to verify your new number.
- If your ID and phone number are successfully verified, Coinbase will guide you through resetting your password and regaining access to your account.
The account recovery process typically takes 24-48 hours as Coinbase needs to manually review your information. In some cases, they may require additional documentation to verify your identity, such as a selfie or proof of address.
To ensure a smooth recovery process:
- Make sure the photos of your ID are clear, well-lit, and fully legible. Blurry or partial images may be rejected.
- Double-check that you‘ve entered your new phone number correctly before submitting the recovery request.
- Respond promptly to any follow-up requests from Coinbase for additional information or verification.
It‘s important to note that Coinbase has experienced significant delays in its customer support and account recovery processes in recent years, particularly during the COVID-19 pandemic. With more people working remotely and relying on online services, the demand for support has increased dramatically.
In an April 2021 blog post, Coinbase acknowledged these delays and committed to improving its customer support by expanding its team and implementing new tools and processes. However, some users have still reported wait times of several weeks or more for account recovery.
While Coinbase works to improve its support operations, it‘s more important than ever for users to take proactive steps to secure their accounts and maintain access to their account recovery information.
Tips for Securing Your Coinbase Account
Changing your phone number on Coinbase is an important step towards keeping your account secure, but it‘s not the only one. Here are some additional tips and best practices to help you protect your account and avoid getting locked out in the first place:
1. Enable a Secondary 2FA Method
While SMS-based 2FA is better than no 2FA at all, it‘s not the most secure option due to the risk of SIM swapping attacks. Coinbase offers several alternative 2FA methods that provide an extra layer of security:
- Google Authenticator: This is a free smartphone app that generates time-based one-time passwords (TOTP) for 2FA. It works offline and is not tied to your phone number, making it more secure than SMS.
- Hardware Security Keys: These are physical devices, like a Yubikey, that you plug into your computer or pair with your smartphone via Bluetooth or NFC. They provide a more secure, phishing-resistant form of 2FA.
You can enable these methods in addition to SMS 2FA for added security. Even if an attacker manages to port your phone number, they still wouldn‘t be able to access your account without your Google Authenticator codes or hardware key.
To set up Google Authenticator or a hardware key on Coinbase:
- Sign in to your Coinbase account and go to Settings > Security.
- Under the "Two-Factor Authentication" section, click "Enable Authenticator" or "Set up a Security Key".
- Follow the prompts to link your authenticator app or hardware key to your Coinbase account.
- Once enabled, you‘ll be prompted for a code from your authenticator app or to plug in/pair your security key whenever you sign in or make changes to your account.
It‘s a good idea to set up multiple 2FA methods so you have a backup in case you lose access to one. For example, you could use Google Authenticator as your primary method and keep SMS as a backup.
2. Use a Strong, Unique Password
Your Coinbase account is only as secure as your password. Make sure you‘re using a strong, unique password that you‘re not using on any other websites. A strong password should be at least 12 characters long and include a mix of upper and lowercase letters, numbers, and symbols.
To make generating and remembering strong passwords easier, consider using a password manager like LastPass, 1Password, or Dashlane. These tools can create complex passwords for you and store them securely, so you don‘t have to remember them yourself.
3. Keep Your Account Recovery Information Up-to-Date
In addition to your phone number, make sure your email address and other account recovery information are always up-to-date in your Coinbase account. If you lose access to your account, you‘ll need this information to verify your identity and regain entry.
It‘s a good idea to check your account recovery information periodically, even if you haven‘t changed anything. Coinbase also allows you to add a backup email address, which can be useful if you ever lose access to your primary email.
4. Be Wary of Phishing Attempts
Phishing is a common tactic used by attackers to trick you into giving up your login credentials or other sensitive information. They may send you an email or text message that appears to be from Coinbase, asking you to click a link and sign in to your account.
Always be suspicious of unsolicited messages, even if they seem to come from a trusted source. Rather than clicking any links, go directly to the Coinbase website by typing coinbase.com into your browser. If Coinbase really needs you to take action on your account, you‘ll see a notification when you sign in.
Some other tips to avoid phishing:
- Check the sender‘s email address carefully. Phishing emails often come from addresses that look similar to, but not exactly like, official Coinbase addresses.
- Look for poor grammar, spelling errors, or other red flags in the message content.
- Hover over any links before clicking them to see where they actually lead. Phishing links often have suspicious or unrelated URLs.
- Never give out your password, 2FA codes, or other sensitive information in response to an unsolicited message.
If you suspect that you‘ve received a phishing attempt, you can report it to Coinbase by forwarding the message to phishing@coinbase.com.
5. Monitor Your Account Activity Regularly
Even with strong security measures in place, it‘s important to monitor your Coinbase account regularly for any suspicious activity. Set up email and/or SMS notifications for account logins, trades, and withdrawals so you can be alerted to any unauthorized actions.
Review your account activity and transaction history periodically to make sure everything looks correct. If you see any transactions you don‘t recognize, report them to Coinbase immediately.
You can also monitor your account for suspicious activity using Coinbase‘s "Notifications" feature:
- Sign in to your Coinbase account and click on your profile icon in the upper right corner.
- Click "Notifications" in the dropdown menu.
- Here, you can customize which types of account activities trigger email and/or SMS notifications.
- You can also view your notification history to see a log of recent account activity.
Conclusion
Changing your phone number on Coinbase is a simple but crucial process for maintaining access to your account and keeping your funds secure. Whether you‘re updating your number proactively or attempting to regain access to a locked account, following the steps outlined in this guide will help ensure a smooth experience.
However, changing your phone number is just one piece of the larger account security puzzle. By enabling secondary 2FA methods, using strong unique passwords, keeping your account recovery information up-to-date, and regularly monitoring your account activity, you can significantly reduce the risk of unauthorized access and give yourself peace of mind.
Remember, your Coinbase account security is ultimately your responsibility. While Coinbase provides a range of tools and features to help protect your account, it‘s up to you to use them effectively and remain vigilant against potential threats.
If you do find yourself locked out of your account or suspect unauthorized activity, don‘t panic. Coinbase‘s account recovery process is designed to help you regain access as quickly and securely as possible. Just be sure to provide accurate information and respond promptly to any requests from Coinbase‘s support team.
By following the best practices outlined in this guide and staying proactive about your account security, you can enjoy the benefits of Coinbase‘s platform with confidence, knowing that your funds and personal information are well-protected.
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