Hardware Security Keys

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What are Hardware Security Keys, and why should I use them?

Hardware Security Keys are physical devices that provide a strong, phishing-resistant form of authentication for your BTC Vault. Think of them as the actual keys to your digital vault. They’re small USB or NFC-enabled devices that add a crucial layer of security to your high-value funds.By req...

Why are Hardware Security Keys a better control? Can’t I just use Google Authenticator?

While apps like Google Authenticator offer good security for regular transactions, Hardware Security Keys provide superior protection for your BTC Vault.Unlike Google Authenticator, which is typically installed on your phone, Hardware Security keys are separate physical devices. This separation is c...

Why can’t I create a passkey on my phone, and why do I need to use an external Hardware Security Key instead?

As an app-only bank, we require external Hardware Security Keys for enhanced BTC Vault security. Storing a passkey on the same device as our app would create a single point of failure, potentially compromising your account’s security. By using an external Hardware Security Key, we ensure that ...

How should I store and use my Hardware Security Key?

Your Hardware Security Key should be treated like the key to a physical vault. We recommend storing it in a secure location separate from your phone, such as a home safe, rather than carrying it daily or attaching it to your keychain....

What is Multi-Factor Authentication (MFA) with Hardware Security Keys?

MFA with Hardware Security Keys secures your account by requiring a physical device, such as a YubiKey, connected to your phone via USB-C or tapped via NFC, in addition to your PIN or Biometrics....

How do I enable a Hardware Security Key?

Go to your account settings, choose “Security & Privacy,” select “Hardware Security Key,” and follow the instructions. Have your YubiKey ready....

What if I lose my Hardware Security Key?

When it comes to Hardware Security Keys, the industry usually recommends customers have two of these devices. One is considered the backup key, which should be kept in a safe place or with a trusted individual. The other plays a more active role, which you can use, for example, to make BTC Vault wit...

Can I add multiple Hardware Security Keys?

Yes, you can add more than one Hardware Security Key in the “Hardware Security Key” settings under the “Security & Privacy” menu. Hardware Security Keys are interchangeable, meaning you can use any of your enrolled keys to authenticate actions.You must use an existing key...

Is a Hardware Security Key mandatory?

It’s not mandatory, but it’s highly recommended for additional security. The more funds you have in your Xapo Bank account, the greater the need to set up Hardware Security Keys....

Is this similar to multisig, where I hold two keys (phone and signing device), and you hold a third?

Not exactly. Multisig technology is used to sign blockchain transactions. In that scenario, a transaction may require multiple signatures from different private keys before being broadcast to the blockchain. On the other hand, hardware security keys are part of a strong multi-factor authentication s...

When I tap the security key on my phone, I receive a notification to link and nothing else happens?

Your hardware security key may support multiple types of authentication. The notification you’re seeing is likely related to the OTP (One-Time Password) feature, which attempts to send an OTP code to your phone for display.However, Xapo Bank does not use the OTP feature that is enabled by defa...

Can I use my Ledger as a Hardware Security Key?

Yes! All Ledger devices (Nano X, Nano S Plus, Stax, and Flex) are supported for securing your BTC Vault withdrawals. Below are step-by-step instructions based on your platform and device typeBefore You StartInstall the Security Key app:Use the Ledger Live application to install the Security Key...

Can I use my Trezor as a Hardware Security Key?

Yes! Trezor devices (Safe 5 and Safe 3) are supported for securing your BTC Vault withdrawals. Below are step-by-step instructions for setting up your Trezor as a hardware security key.Before You StartPrepare Your Trezor Device:Install the latest firmware on your Trezor using the Trezor Suite applic...

Where can I get a physical hardware security key?

A hardware security key is a powerful solution to protect your Bitcoin Vault at Xapo Bank. It provides an extra layer of security for your wallet, ensuring that only you can access your funds without the physical key.You can easily purchase a physical security key online, directly from the manufactu...

When I tap the security key on my phone, I receive a notification “NFC tag detected” nothing else happens?

This can happen if your phone treats the hardware key as a generic NFC tag instead of triggering the intended action (e.g., FIDO2 authentication).How to Fix This IssueDon’t open the NFC tag notification. Instead:Open the app or service where you’re trying to use the key (e.g., the Xapo B...
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