What is the benefit of a passkey over using 2FA like Google Authenticator?
At the moment to log into (for example) Paypal I type a password then the code from Google Authenticator. If I understand correctly having a passkey installed on my phone eliminates the password. It would be like a website requiring only the code from Authenticator and no password.
This is certainly more convenient, but it seems that convenience is the only benefit. Indeed it lowers security since if my phone is lost and someone manages to get into it they would then have access to all my accounts protected by the passkey.
Have I understood this correctly? If so is convenience really considered worth the reduction in security? Or is it considered that a decent PIN on the phone should delay attackers long enough for me to cancel the passkey and therefore that any reduction in security is minimal?
