In Australia, Beaufort Fiduciaries Pty Ltd (ACN 162 139 871, AFSL No. 545124) provides wholesale clients with access to derivatives where the underlying assets are digital assets. Derivatives are complex, regulated financial products that are difficult to understand and may not be suitable for inexperienced investors. For eligibility, terms and conditions click here. Krak Pay is offered by Bit Trade Australia Pty Ltd (ACN 163 237 634), Authorised Representative of Flexewallet Pty Ltd (AFSL 448066). This information is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you and read the relevant disclosure documents before making any decision.

What is an Authenticator App?

Last updated: August 8, 2025
Important:

We offer authenticator apps as a security feature but highly recommend upgrading your Sign-in 2FA to Passkeys which utilise FIDO2 security protocols making them a much more secure option. See Risks of using an Authenticator App.

 

An authenticator app is usually installed on a smartphone and generates a 6-8 digit code every 30 seconds. The code can be used for signing in, trading, depositing or withdrawing funds from your account or as a Master Key.

Note:

 

  • •

    For security reasons, 2FA for each of these account actions needs to be set up separately.

  • •

    Sign-in 2FA and Master Key should always be kept separate.

See also:

The codes are generated from a secret key that is shared between the service you are using (like Kraken) and your device, as well as the current time.The secret key provided at the time of download is all that is needed for backup.

Note: Authenticator apps are not tied in any way to your SIM card or phone number. This protects your account from SIM swapping.

There are a variety of authenticator apps that you can download for your smartphone.
A popular example is Google Authenticator, which can be found in Google Play and the iOS App Store.

  • Enable remote locking and erasing of your smartphone in case you ever lose it.
  • Disable account synchronization features to prevent your 2FA codes being accessible on the cloud. 
    • While convenient this feature increases your vulnerability to risks, especially if your email account is ever compromised. 
  • Bookmark www.kraken.com to avoid navigating to our site from search engines.

This reduces your chances of entering details into phishing websites impersonating Kraken. Authenticator apps are not phishing-resistant, unlike Passkeys.

Additional reading:

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