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. Or perhaps you’re more interested in trading NFTs? Learn more about our best-in-class NFT marketplace. 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.
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 Intermediate verification process. All Australian clients are required to complete Intermediate verification to fund their account and trade.
If you are a business, Self-Managed Super Fund (SMSF) or other structure follow this guide to sign up for a business account with Pro limits or click the Create business account button below.
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):
- 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.
- 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)
- Multiple payments: Sending multiple PayID/OSKO payments of the same size and during the same day might cause delays as banks may hold the funds for a security check.
- 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:
- use your credit or debit card*
- use Apple or Google Pay*
- use Etana Custody to fund your account using SWIFT rails**
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
**You can also use Etana Custody to fund your account with USD
We offer 13 Aussie Dollar trading pairs, including:
To learn more about currency pairs on Kraken, visit Currency pairs available for trading on Kraken.
Australian clients can trade with margin on hundreds of global pairs, as well as these four AUD pairs:
See here for a complete list of global pairs and here for applicable fees.
The availability of margin trading services is subject to certain limitations and eligibility criteria.
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.
- For the Kraken App, go to App settings (3rd menu option & scroll down) and set Currency to AUD
- For the Kraken Pro App, go to Account (4th menu option & scroll down) and set Default currency to AUD