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.

How does two-factor authentication (2FA) for funding (withdrawals) work?

Last updated: 16 October 2026

Funding 2FA helps protect your account from unauthorized withdrawals. If an attacker or scammer gets into your account, they can’t withdraw your funds without your Funding 2FA.

Funding 2FA requires a code for:

  • •

    Withdrawing any type of funds from your Kraken account

  • •

    Transfers to your Futures wallet (not from it)

Funding 2FA doesn’t stop someone adding a cryptocurrency withdrawal address. Enable the Global Settings Lock (GSL) for that.

Should I set up Funding 2FA?

Funding 2FA is recommended for all clients who hold assets in their account and will particularly suit those who store funds and rarely move them or those with high-value balances.

Making use of our entire suite of security features is always recommended.

How do I set up Funding 2FA?

Set up Sign-in 2FA before you enable Funding 2FA. It’s the minimum security every account should have.

Note: If the GSL is on, deactivate it before you add Funding 2FA.

  1. 1

    Sign in to your Kraken account.

  2. 2

    Go to your Security settings.

  3. 3

    Under Advanced Settings, next to Funding 2FA, select Enable.

  4. 4

    Choose a method:

    Hardware Security Key: a YubiKey using Yubico OTP. This is the most secure option. See Hardware Security Key.

    Authenticator app: only if you don’t have a Hardware Security Key. If your app syncs codes to a Google, Apple or Microsoft account, anyone who compromises that account can access your codes. See Authenticator app and Risks of using an authenticator app.

Kraken may ask you to confirm with your Sign-in 2FA or Master Key. This is Step-up 2FA, used to approve changes to your 2FA methods.

Protect Funding 2FA

Set up a Master Key before you enable the GSL. You can’t add or change a Master Key while the GSL is on.

After enabling Funding 2FA, enable the GSL. While the GSL is on, Funding 2FA can’t be added, removed or updated until you deactivate the GSL. Go to your Security settings and, under Advanced Settings, select Activate next to Global Settings Lock. Choose a removal waiting period from 1 to 30 days. The default is 3 days, and Kraken Support can’t shorten it.

How do I edit or remove Funding 2FA?

If the GSL is on, deactivate it first. You can’t add, remove or update Funding 2FA while the GSL is on.

Go to your Security settings. Under Advanced Settings, select the three-dot menu next to your Funding 2FA method, then choose Edit description or Remove. You may be prompted with Step-up 2FA before you remove it.

Additional reading