A Yubikey is a hardware authentication device that can be used for Two-factor Authentication (2FA) on your Kraken account. Yubikeys are used for Two-factor Authentication (2FA) by inserting the device into the USB port of your computer and then tapping or touching the button on the device to produce a one-time passcode.
If you just want to learn how to set up Two-factor Authentication (2FA) using a Yubikey, click here.
What does a Yubikey do?
A Yubikey emits one-time passcodes when tapped or touched. A Yubikey can be used to enable Two-Factor Authentication (2FA) for login, deposits & withdrawals, and as a Master Key on a Kraken account.
Where can I get a Yubikey?
You can purchase a Yubikey on Yubico's website, the producer of Yubikeys. Note that Kraken does not have support for U2F, so the YubiKey Fido U2F Security Key cannot be used to secure your account.
Why should I use a Yubikey instead of other 2FA options?
There are a few reasons why a Yubikey may be preferable over other 2FA options:
Security: Having a physical device that is only used for Two-factor Authentication (2FA) may result in users guarding it more closely. As such, accounts of Yubikey users may be less likely to be compromised. Also, considering that a Yubikey is not a very commonly used security mechanism, an attacker may not realise that it is of any value.
Simplicity: All you need to do on a Yubikey is simply plug it into your computer’s USB port and touch or tap a button. No need to rely on an app, worry about your device's battery running out, or software crashing.
Human Error: We see a lot of lost phone tickets at the Kraken support desk. In our experience, a client is less likely to lose a device specifically used for Two-factor Authentication, than a device like your phone, that you carry around all the time.