Enabling Two-Factor Authentication (2FA) for Deposits and Withdrawals improves account security by requiring a 2FA code when generating a new cryptocurrency deposit address, or withdrawing any type of funds from a Kraken account.
The benefit of enabling 2FA for deposits and withdrawals is to prevent attackers from moving funds in or out of your account even in the event of a compromise.
The following screenshots are examples of what you would see when 2FA for Deposits and Withdrawals is enabled and you attempt to perform these actions:
1. Adding a cryptocurrency deposit address:
2. Requesting a withdrawal:
Should I set up Deposits and Withdrawals 2FA?
Adding 2FA for deposits and withdrawals is an excellent choice for high value accounts and clients who prefer top-notch security for their accounts. Clients who hold funds in their account at Kraken, but do not frequently transfer funds to or out of their account are also encouraged to enable this feature.
How do I set up Deposits and Withdrawals 2FA?
You can set up a Deposits and Withdrawals 2FA by logging in to your Kraken account and clicking on the “Security” tab. Next, click the "On/Off" dial under “Deposits & Withdrawals” 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 Deposits and Withdrawals.
Important Security Reminder: After enabling 2FA for Deposits and withdrawals, proceed to lock your account settings using the Global Settings Lock so that the Deposits and Withdrawals 2FA cannot be removed or altered in the event of a compromise.