A study by Microsoft shows that Multi Factor Authentication can block over 99,9% of account compromise attacks. You can read the full article on Microsoft's website here.
We recommend using an authenticator app for increased security without the need of sending text messages.
Receiving codes via SMS is less secure than using an authentication app. A hacker could intercept a text message or hijack your phone number by convincing your carrier to transfer it to another device. Or if you sync text messages with your computer, a hacker could gain access to SMS codes by stealing your computer.
Once you have set up an authenticator app, you will have to verify your first login every 12 hours.