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.

Verification explained

Last updated: December 31, 2025

We're currently facing delays in processing new accounts. Please avoid submitting multiple verification requests. 

Kraken

Your verification status determines what features, products, and funding limits are available on your Kraken account. For a majority of accounts, getting verified once will be more than sufficient. Although, higher funding limits would cater more to high-volume traders, or clients who need to make larger deposits and withdrawals.

Business accounts are available if you would like to trade for business purposes or on behalf of a business entity.

Which verification path is right for me?

A verified account allows you to access all essential account functions. Once you are verified, you can buy and sell crypto, deposit cash and crypto, margin trade, access our OTC desk, and much more. This path is best for a vast majority of clients.

You can see your verification status on the Kraken Pro interface, under Settings > Account > Account details.

A personal account with higher limits is the highest verification level available and includes the following benefits:

For more information on personal accounts with higher limits, check our article here.

Note: You do not need a personal account with higher limits to use Kraken Pro web or app.

Business account verification is required for businesses and institutions. Business accounts may also be useful for clients that require higher API key limits, for building integrations with their account.

Check out all there is to know about Business accounts here.

Features

Verified

Higher limits

Important for

Cash deposit and withdrawal limits

Less than $100,000 per month

More than $100,000 per month

All accounts types

Buy and sell crypto instantly

✅

✅

All accounts types

Staking & Rewards*

✅

✅

All accounts types

Generate API Keys

Up to 16 keys

Up to 25 keys

Advanced integrations

Margin trading**

✅

✅

Active trading

OTC Desk access

✅

✅

High-volume trading

Trade Derivatives***

✅

✅

All accounts types

*An overview of eligibility criteria (including geographic restrictions) for staking can be found here. Opt-In Rewards requires you to be verified and fulfill eligibility criteria (including geographic restrictions).

**Availability of margin trading services is subject to certain limitations and eligibility criteria.

***Depending on your country of residence, your account may not be eligible to trade on Kraken Derivatives. See our support articles on eligibility and restrictions for Derivatives.

Frequently asked questions

Yes, you can upgrade your account at any time by following the guide located here.

View our Document requirements article for a detailed list. In general, a valid government issued ID is required, as well as a proof of address statement. Occasionally, further documentation may be required.

We always strive to provide a swift verification process, typically, verifications take less than 30 minutes. If your application requires manual review, the verification process may take longer.

For more details regarding verification processing times, please refer to our article here.

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