Application Programming Interface (API) keys can be generated on your Kraken account to allow external applications permission to perform actions on your account such as trades, access account funding, or track the data on your Kraken account.
This article assumes that you are aware of the security risks involved in generating API keys for your account.
Two-factor Authentication (2FA) is one way of reducing the risks of API keys.
How to set up Two-factor Authentication (2FA) for an API key
1. Log in to your Kraken account
2. Click on the "Security" tab. Scroll down and click the "On/Off" dial under “API keys”.
3. Click on the "SET IT UP"-button for your chosen Two-factor Authentication (2FA) method and follow the instructions below accordingly.
Method: Static Password
1. Select the functions that Two-factor Authentication will be required for. Then, enter a custom password in accordance with the "Password Rules" into the "Password" and "Confirm Password" fields and click "Save".
2. Congratulations, that's it! You have successfully set up 2FA using a Static Password for that API key.
Method: Authenticator App
1. Select the functions that Two-Factor Authentication will be required for. Then, click "Next" to continue. Only advanced users should change the settings by clicking "Change this setting".
2. Open the Authenticator app on your device and either scan the QR code provided, or manually enter the provided “Authenticator Secret Code”. Then, enter the numeric code that appears in the Authenticator app, and click “Save”.
3. Congratulations, that's it! You have successfully set up 2FA using an Authenticator app for that API key.