A Security Key is a small physical device used for additional security next to your password and is considered to be one of the most secure methods of 2FA. Most Security Keys are very simple and you only need to touch or tap a button while it is plugged into the USB port of your device.

At this moment only sign-in 2FA can be secured with both FIDO2 and Yubico OTP protocols. We expect to support FIDO2 for all 2FA functions in the near future.

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: 2FA for each of these account actions needs to be setup separately.

1. Sign in to your Kraken account and select your name in the upper-right corner of the page.
   • Select Settings and then click Security.
2. Decide which function you want to set up 2FA for.
   • Select the OFF/ON toggle under the desired function (Sign-in, Master key, Funding, Trading) or select Change method if you currently have 2FA set up and you would like to change it.
3. Select Authenticator app.

4. Open the authenticator app on your device and either scan the QR code provided or manually enter the setup key.
   
   2FA that uses the authenticator app method can be backed up by storing the setup key.

5. Enter the numeric code that appears in your authenticator app and click the Confirm button.
6. If you set up sign-in 2FA, you will see "2FA app" appear under authentication method.
   • If you set up funding 2FA, trading 2FA, or Master Key 2FA, the "On/Off" dial will be toggled to the on position to the right.
   • In all cases, 2FA app will be shown as the method.
7. Congratulations, you have secured your Kraken account!

Make sure your Security Key is compatible with Yubico OTP or FIDO2.

1. Sign in to your Kraken account and select your name in the upper-right corner of the page.
2. Select Settings and click on Security. 
3. Decide which function you want to set up with a Security key.
   • Select the OFF/ON toggle under the desired function (Sign-in, Master key, Funding) or select Change method if you currently have 2FA set up and you would like to change it.
4. Select Security Key.

5. Select the Security Key menu and click on the Set up key button.

6. Insert your Security key into your device.
   Some Security keys will instead require you to hold it against your device.

7. Click Allow on the following screen.

8. Touch your security token.

9. Congratulations, you have secured your Kraken account!

Each function can have 2FA enabled using different methods. For example, you may choose to use the Hardware Security Key method for the sign-in function because Hardware Security Keys are the most convenient and secure to use in daily life.

Then for your Master Key function, you may choose to use the authenticator app method because it is less convenient to use and not needed as frequently. The Master Key is only needed in the rare case when you've lost your sign-in 2FA, have to change your password or need to remove the GSL immediately.

Having sign-in 2FA and the Master Key on the same device cancels out the security that these functions guarantee when kept separate. The 2FA method used for the Master Key should be different from the one used for your sign-in 2FA, otherwise it defeats the purpose of the Master Key.

If you use separate devices you could use an authenticator app for both functions as each app will generate a different code.

Method	Security level
hardware Security Key	most secure
authenticator app	moderately secure
static password	least secure (not recommended)

Looking for SMS-based 2FA? This is not considered a secure 2FA method, find out why.

• Simplicity
  All you need to do with a Security Key is plug it into, or hold it against your device and touch or tap a button. No need to copy a passcode from an authenticator app or worry about your device's battery running out.
• Security
  OTP’s generated by a Security Key are significantly longer than those from an authenticator app (44 characters versus 8 or less characters). FIDO2 adds additional security on top of this, because the protocol will only respond to a challenge from the website that you registered it on, and will therefore prevent phishing.
• Harder to lose
  We see a lot of tickets at Kraken Support because someone lost their phone. In our experience, it is less likely to lose a device specifically used for 2FA than a phone that is carried around all the time.
• Privacy
  Even if you lose your Security Key, it has no identifiable information about what it is used for or who it belongs to. In contrast, an authenticator app mentions the website name and some identifiable account information because the passcode needs to be manually read by a human.