This feature is only available on the Kraken app interface.
Kraken Pay is an efficient and cost-free way to transfer funds directly between accounts on Kraken. With Kraken Pay, you can use 300+ crypto assets to pay your friend for last night’s pizza or send money to your family overseas.
Take a look at our instructions and FAQs below to get started with Kraken Pay.
Creating your Kraktag
Your Kraktag is the unique identifier you’ll use for sending and receiving funds through Kraken Pay. Think of it like a username that others can easily recognize. You can pick your own custom Kraktag or let Kraken generate one for you. Follow the instructions below to claim your very own Kraktag!
How to create your Kraktag
- 1.Open Kraken Pay:Launch the Kraken mobile app and tap Pay in the bottom right corner. If this is your first time using Kraken Pay, you’ll be prompted to create a Kraktag.
- 2.Choose your Kraktag:Type in the Kraktag you’d like to use, or let us make one for you. Once you’re satisfied with your Kraktag, tap the Continue button.
Note: You’ll have the option to update your Kraktag (Up to two times) if you change your mind.
- 3.Authenticate with X (If needed):If you’ve chosen a Kraktag that matches a high-profile X account, you will see an option to “Authenticate with X”. To authenticate with X, your Kraktag must match your X handle. (@YourHandle)Tap Continue with X to begin the process. A pop-up window will appear, prompting you to sign in and authorize Kraken to verify your username via X. Once authenticated, you’ll see a “Successfully Authenticated” message.
- 4.Share or close:If you want, tap Share to let your followers and friends know you’re on Kraken Pay! Otherwise, you may close the window to return to the main Kraken Pay screen.
How to send funds with Kraken Pay
You can send funds with Kraken Pay through the buttons labeled Pay or Send.
Through Pay
- 1.Tap Pay in the bottom-right of the app homepage.
- 2.Select the recipient you want to send funds to. You can also share your Kraktag with your Recipient.
Note: List of recipients are existing Kraken users. If a recipient is not available, they have to sign up with Kraken and create a Kraktag to be available. Click here for information on Recipient without a Kraken account.
- 3.If you have previous transfers with the selected recipient, you can select the relevant transfer to send again. If you’d like to send a different amount, tap the purple Send button as shown below.
- 4.Review the transfer details, tap Send again, and your recipient will immediately receive their funds!
Through Send
- 1.Open the Kraken App.
- 2.Tap the Send button on the app homepage.
- 3.Tap Let’s go.
- 4.If it’s your first time using Kraken Pay, you will need to create a unique Kraktag to help any potential new senders find you. (You may change your Kraktag later on).
- 5.Enter the amount of funds to send and tap Continue (the currency shown will be your default currency or you can select a different currency). You can send more than your current holdings, by choosing an alternative asset later on to fund with.
- 6.Select or search for your intended recipient across Kraken users. Select the Kraktag or email that you want to send to. If a recipient is not available, they have to sign up with Kraken and create a Kraktag to be available. Click here for information on Recipient without a Kraken account.Alternatively, a recipient with no Kraken account can be directly sent a payment link through which they can set up their account and receive funds.
- 7.Review the transfer details and add a note if required, then tap Send and your recipient will instantly receive their funds!
Through the Action button
- 1.Open the Kraken App.
- 2.Tap the Purple Action Button in the middle of the Navigation bar.
- 3.Tap Send in the pop-up menu.
- 4.If it’s your first time using Kraken Pay, you will need to create a unique Kraktag to help any potential new senders find you. (You may change your Kraktag up to 2 times later on.)
- 5.Enter the amount of funds in your default currency to send and tap Continue (or you can select a different currency). You can send more than your current holdings, by choosing an alternative asset later on to fund with.
- 6.Select or search for your intended recipient across Kraken users. Select the Kraktag or email that you want to send to. If a recipient is not available, they have to sign up with Kraken and create a Kraktag to be available. Click here for information on Recipient without a Kraken account.Note: List of recipients are existing Kraken users.Alternatively, a recipient with no Kraken account can be directly sent a payment link through which they can set up their account and receive funds.
- 7.Review the transfer details and add a note if required, then tap Send and your recipient will instantly receive their funds!
Through the Asset Detail Page
- 1.Open the Kraken App.
- 2.Tap the Purple Action Button in the middle of the Navigation bar.
- 3.Tap the Send Button at the bottom of the page.
- 4.If it’s your first time using Kraken Pay, you will need to create a unique Kraktag to help any potential new senders find you. (You may change your Kraktag up to 2 times later on.)
- 5.Enter the amount of funds in your default currency to send and tap Continue (or you can select a different currency). You can send more than your current holdings, by choosing an alternative asset later on to fund with.
- 6.Select or search for your intended recipient across Kraken users. Select the Kraktag or email that you want to send to. If a recipient is not available, they have to sign up with Kraken and create a Kraktag to be available. Click here for information on Recipient without a Kraken account.Note: List of recipients are existing Kraken users.Alternatively, a recipient with no Kraken account can be directly sent a payment link through which they can set up their account and receive funds.
- 7.Review the transfer details and add a note if required, then tap Send and your recipient will instantly receive their funds!
How to receive funds with Kraken Pay
Recipient with a Kraken account
If you already have a verified Kraken account, then you’re a few simple steps away from receiving payment:
- 1.Share your payment details:If the sender has a Kraken account, they can send funds using your Kraktag, your registered email address, or your phone number. If the sender doesn’t have a Kraken account—or even if they do—you can share a paylink instead. That paylink will guide them through signing up (if needed) and completing the payment.
- 2.Open the Kraken App:Once the sender initiates the payment, you’ll see the incoming transaction under the Pay tab.
- 3.Review the payment details:Select the pending transaction to view the amount, any note from the sender, and the payment details.
- 4.Accept the payment:Tap the Accept payment button. Your funds will appear in your Kraken account instantly!
Recipient without a Kraken account
No Kraken account? No problem! Follow the steps below to quickly create one and receive your funds:
- 1.Open the link you received:Tap the link in the text message or notification. You’ll be taken to a Kraken webpage or prompted to download the Kraken App.
- 2.Download the Kraken App:Install our free app from the App Store or Google Play Store, then launch it to begin the signup process.
- 3.Create your new Kraken account:Select Create account and enter the email address you’d like to use. You’ll receive a confirmation email, click the link inside to verify and activate your account.
- 4.Verify your account:After your account is activated, tap on the “Get verified” button at the top of the Kraken App Home page. Then complete the verification process.
- 5.Claim your funds:After you verify your Kraken account, tap on the “Pay” button in the bottom right corner. You will see an incoming payment, tap the payment, and then tap the Accept payment button.
FAQ:
What are the transfer limits for Kraken Pay?
The limits for Kraken Pay depend on the verification level of your account and whether you have two-factor authentication (2FA) enabled:
- •Intermediate: 10,000 USD per 30-day rolling period.
- •Pro and 2FA enabled: 100,000 USD per 30-day rolling period.
- •Intermediate / Pro and 2FA disabled: 100 USD per 30-day rolling period.
Keep in mind:
Keep in mind: Kraken Pay contributes to your account's overall 30-day withdrawal limit.
Are there any fees for using Kraken Pay?
Using Kraken Pay is free, there's no charge to send or receive funds. However, if you don’t already hold the currency you’re sending (you only have Bitcoin, but you want to send USD), our system will automatically convert your assets to the desired currency and a conversion fee will apply. If you already hold the exact currency you’re sending, there is no fee at all.
What happens if I send funds to the wrong Kraktag, email, or phone number?
Our system helps minimize mistakes when sending to an existing Kraken account via Kraktag or an email/phone number already on file. However, if you use a Paylink, the recipient may not yet have a Kraken account—and because that link can be opened by anyone with access to the SMS or email, we cannot verify that it’s reaching the intended person.
Regardless of which method you choose, if you accidentally send funds to the wrong recipient, or in the context of fraudulent activity, please note that completed transactions cannot be reversed. Always double-check the recipient’s Kraktag, email, or phone number before initiating a transfer.
Both your account and the recipient’s account (if they have one) must also meet our requirements to successfully receive funds.
Note:
Paylinks expire after 14 days if they are not fulfilled.
What happens if I request funds from the wrong Kraktag, email, or phone number?
You may cancel a payment request before it is fulfilled by tapping it on the main Pay screen, then tapping Cancel payment.
Note:
Paylinks expire after 14 days if they are not fulfilled.
Am I eligible for Kraken Pay?
To check your eligibility:
- •Update the Kraken App to the latest version.
- •Open the Kraken App and accept the updated terms of service.
- •Ensure your Kraken account is verified to the Intermediate level or above.
- •Ensure you are in a permitted location (i.e. you can navigate through Kraken Pay).
Are Kraken Pay transfers reversible?
No, both crypto and fiat Kraken Pay transfers are not reversible. If a payment is fulfilled, Kraken is unable to undo the transfer or recover the funds. Once a transfer is completed, the funds are immediately available in the recipient's account.
Please ensure that you have verified the recipient's Kraktag, email or phone number, and that you have confirmed the transfer details before initiating a Kraken Pay. If you have any doubts or concerns, it may be worthwhile to start with a small test transfer.
How can I update my Kraktag?
To edit your Kraktag:
- 1.Tap Pay in the bottom left corner, and then tap on your profile image in the top left corner.
- 2.You’ll then be on your profile page, tap Edit under your profile photo.
- 3.From here, you may edit your Kraktag by tapping the pencil icon next to your current Kraktag.
Note: You may change your Kraktag a maximum of two times after creation. If you change your Kraktag you will have to wait 60 days before you can update it again.
Are any Kraktags reserved?
Yes. To help protect high-profile handles and reduce fraud, we reserve certain Kraktags if the matching X account is above a set follower threshold. If you own one of these X handles and wish to claim the corresponding Kraktag, you’ll need to authenticate via X.
We also reserve other specific Kraktags for impersonation and fraud prevention.
What are the geographical restrictions for Kraken Pay?
Kraken Pay allows clients to instantly and freely send cash or crypto to other Kraken clients, but availability varies by location. Some regions may have access restricted entirely, while others may only support cash or crypto transfers but not both. Assets that are restricted in your region will not appear as a transfer option. For further details, please refer to this support article.
Kraken Pay is not available in Australia, Germany and prohibited regions.
In the US, Kraken Pay is only available in the following states and territories: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, GU, HI, ID, IL, IA, KS, KY, LA, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, UT, VA, WV, WI, WY, VI, and VT.
I can’t find the recipient I want to send to, why?
A recipient will only appear as an option for Kraken Pay once they’ve enabled Kraken Pay on their account. If your desired recipient is not appearing when you search for them, it means they are not eligible or have not enabled Kraken Pay yet.
Do I need to turn off my Global Settings Lock (GSL) in order to enable Transfers?
Yes, if you have the Global Settings Lock (GSL) turned on, it will need to be disabled in order to enable Kraken Pay.