Two-factor Authentication (2FA) is an extra layer of security for your Kraken account that is designed to ensure that you're the only person who can access your account, and take actions such as depositing, withdrawing, or trading, even if someone knows your username and password.
The way it works is that any login to your account or actions such as depositing, withdrawing, or trading requires that an extra passcode is entered in addition to the username and password. This extra passcode is usually stored in an app on your phone and is renewed every 30 seconds. It is also possible to use a security key such as a Yubikey for 2FA.
The benefits of 2FA are that your account is protected from attackers since any attacker needs to have access to the 2FA device as well as the username and password to login to your account or take actions such as depositing, withdrawing, or trading.
For example, if you have your 2FA codes stored on your phone the attacker would need your phone in addition to your username and password.
Now that you know what 2FA is and what the benefits are, learn more about the 2FA options on Kraken how to set them up on your account:
|Method||Learn to set it up|
|Authenticator app||Click here|
|Static password||Click here|