Paypal now offers their users an extra layer of security by offering them two ways to generate a unique one-time-use password every 30 seconds, which you use along with your normal username and password to log into your account.This way, even if someone does get your login and password, they won't be able to log into your paypal account without the key generated by your hardware.It’s like a combination lock for your account – designed to let you in and keep others out – except that the combination always changes. It comes in 2 types, each with different advantages:
- Security key: This is a small device, the size of a credit card that you carry with you. It creates a unique security code that you use to log in to your account.
- Mobile phone security key: You can get temporary security codes on your mobile phone by text messages (also called SMS).
I purchased (for $5.00US) their credit card security key which can be purchased here. You will be asked to log into your PayPal account and then select which type of security key you would like.
To use the security key, simply log in to PayPal as you normally would with your username and password, and then you’ll be asked to enter a security code. Then you would just press the button on the card to generate a new code and you would then simply enter the code to finish logging in. Remember this code is *only* good for 30 seconds.
To use the mobile security key, simply log in to PayPal as you normally would with your username and password, and then you’ll see the Send SMS button on the next page. Click Send SMS and wait to get the text message with your code on your mobile phone and then enter it to finish logging in.