The service is called NameSafe. Yes, it is a service that you need to pay Name.com for $19.95 per year. The security device will cost you $5 one time fee. Once you receive your security device (or credential as they call it), you need to register your device Serial ID and follow the instruction. You will be done in under 10 minutes.
What do you expect with this NameSafe service?
- Better security protecting your domain names.
- Self-learning fraud detection.
- You can use this device (credential) to any VIP Network members. Though you have to check the cost to use this service with other VIP Network. See here who's in VIP Network Members.
- And Security Security Security!
I think Name.com is pioneer in domain name industry to provide a two-factor authentication. I know some registrars that provides additional service where you need to call their support hotline for you to make changes of DNS, Contact Information or other domain-related changes you need. This will take some time to complete, depending on how quickly the customer service response to your call. What if you leave outside USA? Then you have to pay internaltional phone bills unless you have VOIP service in place. Definitely Namesafe service is your alternative ways to protect your domain name porfolio.
I used the same technology (two-factor authentication) managing my Paypal account but I don't have to spend $19.95 per year for using this service. I only pay for the device $5 one time fee.
I use NeedName.com Enom Technology Partner (ETP) and Moscom.com (GoDaddy) for my domains. I need to call them and find out if I can get additional layer of security for my domain portfolio. Wish me luck.