Reviewed guide | 2026-10-09
Why Australians should retire SMS codes for stronger exchange sign-in protection
Passkeys and authenticator apps are stronger than SMS codes for protecting exchange logins. How Australians can add them across their accounts, keep backups and avoid lockouts when changing devices.
Multiple exchanges | Australia | AUD | fees, access and account safety
SMS codes are convenient, but they depend on your phone number, and phone numbers can be ported or hijacked through a carrier with surprisingly little effort. Most large exchanges now support authenticator apps, and many also support passkeys, which tie your login to a device and cannot be phished in the same way as a password. Moving to these stronger methods is not difficult, but doing it carelessly can leave you locked out. This guide covers a calm way to upgrade the protection on your exchange accounts and keep a reliable backup.
Understand what each method protects
An authenticator app generates short-lived codes on your phone without needing your mobile number, which removes the SIM-swap risk. A passkey goes further: it is stored on your device or in your password manager and only works on the genuine site, so a fake login page cannot capture it. Many people use both, with a passkey for everyday sign-in and an authenticator for confirming sensitive actions. Check each platform's help centre to see which options it currently supports.
Add the new method before removing the old one
Sign in on a trusted device, open the security settings and follow the platform's own steps to add an authenticator or passkey. Test a full sign-out and sign-in with the new method before you disable SMS. If you remove the old method first and something goes wrong, you may face a lengthy recovery process. Do one exchange at a time so you can keep track of what has changed and where.
Keep backups somewhere sensible
Write down any backup or recovery codes on paper and store them away from your phone, ideally somewhere you would not lose in a house move. If your passkeys sync through a password manager or a cloud account, make sure that account has strong protection of its own. Losing access to the account that holds your passkeys can be as disruptive as losing the phone itself, so treat it with the same care.
Plan ahead for changing phones
Before upgrading or replacing your phone, list every exchange account that relies on it for codes or passkeys. Move each one to the new device while the old one still works, and confirm you can sign in on each. Only then wipe the old handset. A short written list of accounts and the method each uses makes this process far less stressful and helps you notice any account you had forgotten.
Risk boundary: Australia Crypto Guide
Digital assets are volatile and derivatives can amplify losses. This website has no login, wallet connection, deposit form or customer-support chat. A referral link only records attribution; it does not guarantee access, pricing, rewards, approval or investment results. Availability can differ by residence, legal entity and product, so no regional access is assumed from language or branding alone.
Scenario checkpoint
- Add an authenticator app or passkey and test a full sign-in before switching SMS codes off.
- Write recovery codes on paper and store them away from the phone that generates the codes.
- Protect the password manager or cloud account that syncs your passkeys with its own strong login.
- Keep a written list of exchange accounts and the sign-in method each one uses on your phone.
Digital assets are volatile and derivatives can amplify losses. This website has no login, wallet connection, deposit form or customer-support chat.