Enabling Two-Factor Authentication (2FA) for Trading improves account security by requiring a 2FA code when making any trades on your Kraken account. Doing so ensures that the current positions you hold on your account are unchangeable without access to the 2FA that is set up for trading.
The benefit of enabling 2FA for trading is to ensure that you alone can initiate trades on your account. The downside to adding this security feature is that it may slow down your ability to act quickly and perform a trade right away.
The following screenshots are examples of what you would see when 2FA for Trading is enabled and you attempt to perform these actions:
1. Creating a new Order:
2. Canceling an Open Order:
Should I set up Trading 2FA?
When considering whether or not to set up 2FA for trading on your account, consider how often you are making trades on your account. If you use your Kraken account mostly for holding assets or you seldomly trade, we recommend that you utilize the Trading 2FA feature to secure your account.
If you are frequently trading, the constant 2FA requirement may create delays in how quickly orders are created. In this case, we recommend utilizing a combination of the other security features we offer, including 2FA for Logins, 2FA for Deposits and Withdrawals, the Master Key, and/or the Global Settings Lock to secure your account.
How do I set up Trading 2FA?
You can set up a Trading 2FA by logging in to your Kraken account and clicking on the “Security” tab. Next, click the "On/Off" dial under “Trading” and choose the 2FA method you want to use.
Follow the guides below, depending on the method you choose, for how to set it up:
Note: If you have not already set up a Login 2FA on your account, you will be prompted to do so first before setting up 2FA for Trading.
Important Security Reminder: After enabling 2FA for Trading, proceed to lock your account settings using the Global Settings Lock so that the Trading 2FA cannot be removed or altered in the event of a compromise.