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.

Using a Static Password for two-factor authentication (2FA)

Last updated: March 31, 2025

A static password can be used as a Two-Factor Authentication (2FA) method on your Kraken account for Trading and as a Master Key, to provide another layer of account security. A static password cannot be used for sign-in 2FA or Funding.

A static password is less secure than using a Hardware Security Key or an Authenticator App, since the password does not change with each use. If you're able to, we strongly recommend you set up 2FA using a Hardware Security Key (best) or Authenticator App (second best) instead of a static password.

How to set up a static password for 2FA

  1. 1

    Go to the Security page of your account by signing in to your Kraken account. Then, click your name in the upper-right corner of the page and select Security.

  2. 2

    Decide which function you want to set 2FA up for by clicking Change method or toggle the OFF/ON dial under the desired function (Trading, or Master Key).

  3. 3

    Select button for Password.

    Security_Trading2FAPassword_062322.png
  4. 4

    Enter the password that you have created in both boxes. It is important that this password is not used anywhere else and that it follows our password guidelines. Then, click the Confirm button.

  5. 5

    Congratulations, you have secured your Kraken account!

    The On/Off switch will be toggled to the on position (to the right) for the function you have setup and

    "Password" will be shown as the method. 

Security Tip: Static passwords are required to follow our password guidelines and should be long and complex. We recommend using a reputable password manager for generating and storing passwords.

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