Australia FAQ

Last updated: Dec 10, 2025

Why use Kraken?

Kraken is one of the oldest, most secure cryptocurrency exchanges in the world. We were founded in 2011 in the US and now serve over ten million clients globally, including tens of thousands of Aussies.

In Australia, we maintain local operations as a registered Digital Currency Exchange Provider (DCE) with AUSTRAC (‘Bit Trade Pty Ltd.’, ABN 42 163 237 634 & ACN 163 237 634, source). Bit Trade was Australia's first successful crypto exchange and was acquired by Kraken in 2020.

If you’d like to learn more about our new one-stop destination for advanced crypto traders, try our Kraken Pro platform. Otherwise, see below for our top Australian frequently asked questions, including how to verify and how to fund your account and why your AUD deposit may be delayed.

Welcome aboard the mighty Kraken! If you'd like to sign up for an individual account, follow these step-by-step instructions to get started or click the Create individual account button below. Remember to have handy a valid Australian Government Issued ID (passport, drivers licence or photo card) and Proof of Address documentation (bank statement, mobile phone or utility bill from the last three months) to complete our verification process. All Australian clients are required to complete verification to fund their account and trade. 

Australian clients can deposit and withdraw Aussie Dollars instantly and for free with PayID and Osko bank transfers. We recommend using your unique PayID email address to deposit AUD into your account. The minimum deposit amount is $5 AUD and your bank account must be registered under the same name as your Kraken account. For more information on our fees, minimums and funding instructions, visit our AUD bank transfers with Osko and PayID article. To learn how to make a deposit or withdrawal, follow the guides linked below:

Your deposit could be delayed for several reasons including (but not limited to):

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    New payee hold: certain banks hold first-time payments to new payment addresses for up to 1-2 days as a security measure. Your bank may also hold the first larger deposit (e.g., they let through $500, but then hold $5,000) for a similar timeframe. After your first PayID deposit, future deposits are typically much faster, often taking only a few minutes.

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    Fraud prevention: Your/our banks’ transaction monitoring systems may place a hold on your deposit if it appears to be fraudulent (only in rare instances)

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    Multiple payments: Sending multiple PayID/OSKO payments of the same amount on the same day (or from multiple bank accounts) as well as depositing AUD from multiple bank accounts per account, may result in delays due to bank security checks and our fraud control measures, respectively.

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    Your bank may not support OSKO, so your deposit defaults to the standard EFT rails (1-2 days deposit time).

In most instances, delayed deposits will resolve and reflect in your account within 1-2 days. Please reach out to our 24/7 support team for a quick and efficient resolution on outstanding deposits.

Instead of depositing Aussie Dollars instantly and for free, you can:

For purchases made by credit or debit card, and Apple or Google Pay, an additional fee of 3.75% + 25c is applicable (on top of our regular fee structure).*Only available on the Kraken app and The Buy Crypto widget

Australian clients can apply to increase their verification level to Pro to raise their funding and trading limits. See here for more information, including the benefits of Pro verification.

Australian clients can instantly buy and sell over 200 different crypto. For an up-to-date list of available cryptocurrencies see this article, with the notable exceptions of Dash, Monero and Zcash.

We offer 13 Aussie Dollar trading pairs, including:

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    BTC/AUD

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    ETH/AUD

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    USDT/AUD

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    USDC/AUD

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    XRP/AUD

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    LTC/AUD

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    ADA/AUD

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    BCH/AUD

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    XTZ/AUD

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    LINK/AUD

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    AUD/USD

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    EUR/AUD

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    AUD/JPY

To learn more about currency pairs on Kraken, visit Currency pairs available for trading on Kraken.

Our fees vary depending on whether you use the Kraken App or Kraken Pro. For a comprehensive breakdown of fees, visit our fee structure article.For purchases made by credit or debit card, and Apple or Google Pay, an additional fee of 3.75% + 25c is applicable.

Yes, Kraken Derivatives are available via the Kraken Pro interface, however, it is only available to Australian persons who are wholesale clients as defined in Section 761G of the Australian Corporations Act (Cth). If you are a wholesale client, please sign in to your Kraken account to access Derivatives. If you have not verified your wholesale client status, please do so here.

Yes, see here for an overview of our world-class OTC service and to get in contact.

Yes, we have both REST and WebSockets APIs available to trade with.

Yes, to buy crypto using your SMSF you must first open a business account with pro limits. See here for a handy guide to get started.

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    For the Kraken App, go to App settings (3rd menu option & scroll down) and set Currency to AUD

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    For the Kraken Pro App, go to Account (4th menu option & scroll down) and set Default currency to AUD

Kraken has robust internal controls to monitor and restrict fraudulent activities on our platform. However, it is also important for each of us to be aware of scams and how they operate. If something sounds too good to be true, it probably is. You can find provided additional information about common scams and how to identify them in our support guide and the ACCC guide.

For all Australian media enquiries, visit our Press Room.

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