Action Required | Gemini Users Face Mandatory Passkey Requirement Amid Confusion
Edited By
Fatima Elmansour
A wave of concern is sweeping through the Gemini user community as the exchange mandates passkey setups by May 24, 2025. This sudden move has left many scratching their heads and worried about account access, with some users questioning the necessity and security implications of these changes.
What’s Happening?
In an email notification, Gemini instructed users to set up a passkey for their accounts. If users fail to comply, they risk losing access altogether. One user expressed frustration, stating, "I'm not willing to involve a phone beyond SMS 2FA." This echoes a broader sentiment among many who are uneasy about the shifting security landscape.
Concerns Surrounding Security
Users have raised alarms over the safety of their information and have shown a skepticism about the need for a passkey when many already use two-factor authentication (2FA) methods like Authy.
One comment pointed out, "Do you still need a passkey if you already have 2FA?" This confirms a significant confusion surrounding the communication from Gemini.
Another user, frustrated with their experience, said, "Two different browsers, including a virgin install of Chrome. I’m out, just sold my Gemini holdings."
User Sentiment and Reactions
The general tone appears critically negative. Many users feel overwhelmed by the urgency and complexity of the changes.
"The way I read the bolded portion of the email was if you don’t have a passkey or 2FA you will not be able to access your account after May 24."
Quotes Highlighting Frustrations
"This is complex wording and phrasing."
"Great partner, Gemini."
"Gemini ranks the worst with Coinbase."
Key Points to Note
🕒 Deadline approaching: Users must set up a passkey by May 24, 2025, or risk being locked out of their accounts.
📱 U2F and 2FA confusion: Many question if their existing security measures are sufficient.
🚨 Security fears: Concerns grow about personal data safety and the credibility of the passkey requirement.
The ongoing situation at Gemini has left many users feeling less secure. As the deadline looms, the pressing question is: how will this impact user retention for the exchange?
Stay tuned for updates as more information becomes available.
For more details on digital asset security and exchanges, visit CoinTelegraph and Decrypt.
Future Implications for Gemini Users
As the deadline for setting up passkeys looms closer, there’s a strong chance that user retention for Gemini will take a hit. Experts estimate around 20% of users may abandon the platform due to confusion and security concerns. This could lead to decreasing trading volumes and heightened scrutiny from regulators. If Gemini fails to clarify its intentions and address security apprehensions, it risks losing trust at a critical time when competition within the crypto exchange landscape is fierce. With alternatives readily available, users might be more inclined to switch to platforms that harmonize security updates without excessive demands.
The Historical Echo in Tech Transitions
This situation mirrors the 1990s when major phone companies attempted to transition customers from landlines to cell phones. Just as some customers were resistant and puzzled by the complexity of new technologies, so too are today's Gemini users grappling with the new passkey requirements. Many were set in their ways, feeling overwhelmed by sudden changes rather than embracing the efficiency mobile tech promised. In much the same way, today’s cryptocurrency users may resist shifts that they perceive as complicated, signaling a broader reluctance to adapt to new security measures without clear guidance.