A QR Code is a type of barcode used by centralized cryptocurrency exchanges (CEX) and other crypto-related services for security purposes that aid in various user account tasks, like login, API key creation, or 2-factor verification.

Many CEXs provide QR codes to represent a user’s public or private key.

The QR code can be scanned by digital cameras on mobile phones, similar to how barcodes are scanned at the grocery store.

Once the QR code is scanned, it can be used to set up 2-step verification using an authenticator app that normally runs on a mobile device.

Some CEXs also use QR codes as a means of confirming your identity for when you want to access your CEX wallet from a smartphone or tablet.