What is a Web3 wallet?
A Web3 wallet is a self-custodial digital wallet that allows you to securely store and manage your cryptocurrencies, such as Bitcoin, Ethereum, and other blockchain-based assets. It enables you to interact with decentralized applications (dapps) and perform transactions on the blockchain.
Are Web3 wallets secure?
Mobile Web3 wallets, while secure, have inherent risks due to the constraints of the mobile operating systems for iOS and Android. A mobile wallet is a software wallet and a "hot" wallet, which is less secure than hardware wallets or "cold" wallets. This means we are not able to keep the private key locked in a secure element at all times, and your mobile phone is connected to the internet.
Additionally the mobile wallet is a 1-of-1 key, as opposed to a multi-signature wallet, which means if someone were able to force you to unlock your phone and access your mobile wallet app, then you can lose all of your funds. We do not recommend any user store significant amounts of crypto on any mobile 1-of-1 wallet.
There are steps you can take to help mitigate some risks. Enable security features like biometrics (if available) and user generated passwords, keep your software up to date, and exercise caution when interacting with unknown or suspicious websites or applications.
For more information, please read ourKraken Wallet Security Architecture Blog Post.
How do I create a Kraken Wallet?
Visit our guide: Create a wallet on Kraken Wallet
If you wish to create multiple wallets, visit: Can I create or import multiple wallets?
How do I back up my Kraken Wallet?
Please visit our guide: Backing up your Kraken Wallet.
It is essential to back up your Kraken Wallet to prevent the risk of losing access to your funds. Most Web3 wallets will provide you with a Secret Recovery Phrase (also known as seed phrase) during the wallet creation process. The Secret Recovery Phrase consists of a series of words that can be used to restore your wallet in case it gets lost or damaged. Write down your secret recovery phrase and store it in a safe place.
IMPORTANT:
Your 12-word Secret Recovery Phrase (SRP) is like a master key for your wallet. It is crucial that you keep your SRP safe from others, while ensuring that you can access it.
● If you lose your SRP and can't access your Kraken Wallet, then there is no way to recover your wallet －your assets are gone forever.
● If anyone obtains your SRP, they will have complete and total access to your wallet. Kraken Wallet will never ask you for your SRP. If anyone asks you for your SRP, you should assume it's a scam.
● If you have misplaced/lost your SRP but still have access to your Kraken Wallet, please back up your wallet IMMEDIATELY. You can find your SRP by navigating to your Kraken Wallet settings and tapping Manage Wallets.
How do I ensure the security of my Kraken Wallet?
To ensure the security of your Web3 wallet follow these best practices:
- •Keep your Secret Recovery Phrase offline and secure.
- •Regularly update your wallet software to the latest version.
- •Be cautious of phishing attempts and only use official wallet websites or trusted sources.
- •Verify the authenticity of wallet application updates or extensions before installing them.
To mitigate the risk of malware or phishing attacks on Web3 wallets, it is vital to adhere to best security practices. Keep your software and antivirus programs up to date, be cautious of suspicious links or attachments, and educate yourself about the latest threats and prevention measures.
Remember, maintaining the security of your Web3 wallet is essential for safeguarding your valuable digital assets.
How do I access my Kraken Wallet from different devices?
To access your Kraken Wallet from different devices, you can use the same wallet application and import your wallet using the secret recovery phrase. Doing so, you can synchronize your wallet across multiple devices and access your funds wherever you go.
Can I import my current wallet to Kraken Wallet?
Yes! Importing your current wallet to Kraken Wallet is simple. Visit our guide: Import a wallet to Kraken Wallet
You may also refer to the following guides:
Can I use my Kraken Wallet for different cryptocurrencies?
Yes! Kraken Wallet is a multichain wallet with support for Bitcoin, Solana, Dogecoin, Ethereum and other EVM-compatible networks.
For details visit: Supported assets and networks
Important:
Do not send crypto on unsupported networks to your Kraken Wallet. Do not assume Kraken Wallet supports a given network without verifying first.
Can I store non-fungible tokens (NFTs) in my Kraken Wallet?
Yes! Kraken Wallet is a multichain wallet that supports the storage of non-fungible tokens (NFTs) on Solana, Ethereum and other EVM-compatible networks.
For details visit: Supported assets and networks
Important:
Do not send NFTs on unsupported networks to your Kraken Wallet. Do not assume Kraken Wallet supports a given network without verifying first.
I transferred assets to my Kraken Wallet, but they are not showing up. What could be the reason?
There are multiple potential reasons why your transferred funds are not showing up in your Kraken Wallet.
- •High network congestion can lead to delays in cryptocurrency transactions. If the network is busy, your transaction may take longer to confirm.
- •If you did not include sufficient transaction fees, miners may prioritize other transactions over yours, causing a delay or non-confirmation.
- •Verify that the wallet address you are sending or receiving to is accurate. Even a small typo can result in failed transactions or the loss of your funds.
- •Check the transaction status using a blockchain explorer to confirm whether it's confirmed, pending or failed. (A list of blockchain explorers is provided below)
- •If you tried sending assets from an unsupported network to your Kraken Wallet, they will not appear. You will need to import your wallet to another Web3 wallet provider that supports that specific network.
- •Try refreshing your wallet or contacting our Support team for further assistance.
Blockchain explorers:
- •Blockstream (Bitcoin)
- •Etherscan (Ethereum)
- •Polygonscan (Polygon)
- •Arbiscan (Arbitrum)
- •OP Mainnet Explorer (Optimism)
- •Solscan (Solana)
- •Basescan (Base)
- •Dogechain (Dogecoin)
Important:
Cryptocurrency transactions are not reversible. Once a transaction has been confirmed on the blockchain, there is nothing we can do.
Why am I experiencing slow transaction confirmation times with my Kraken Wallet?
Slow transaction confirmation times can occur due to network congestion or fluctuating network fees. During times of heavy network usage, transactions may take longer to get confirmed. You can try increasing the network fee associated with your transaction to prioritize its processing. Alternatively, you can wait for the network congestion to reduce, which should speed up transaction confirmations.
What are network fees?
When transacting with a wallet, such as sending crypto to a friend, you must pay a network fee (also known as transaction fees or gas fees). This fee is not controlled or received by your Kraken Wallet; rather, network fees can be thought of as the cost of using a particular blockchain, where the fee is paid to miners (e.g. Bitcoin) or validators (e.g. Ethereum). Network fees fluctuate based on supply and demand when lots of people want to transact at the same time, this results in higher network fees.
Keep in mind that setting a higher gas fee can increase the chances of your transaction being processed quickly but will also incur higher costs.
How can I change the network fee for transactions sent from my Kraken Wallet?
With Kraken Wallet you have the option to adjust the network fee when you perform a transaction. This includes send transactions, as well as any transactions you make when interacting with dapps.
To adjust the network fee, simply tap on the Network Fee and select from one of three predefined options.
- •For Bitcoin transactions, the 3 options are: Fast, Medium, or Slow.
- •For Ethereum and other EVM-compatible networks, the 3 options are: Urgent, Fast, and Normal.
Note: that for Solana and Dogecoin, Kraken Wallet calculates a default network fee for you.
I am receiving an error message when trying to sign a transaction with my Kraken Wallet. What does it mean?
Error messages when signing a transaction with a Kraken Wallet can vary depending on the specific issue encountered.
Common errors may be related to network connectivity, insufficient funds, or transaction parameters. Review the error message for more details and consider searching for the specific error online or reaching out to our support team for assistance in resolving the issue.
How can I add or remove assets on my home screen?
Open your Kraken Wallet app, then tap the Manage button on the right side of the Assets section.
Find the asset that you want to add or remove. If you own the asset, it should be available in the Manage assets list. You can also use the search bar at the top of the screen.
- •To add an asset, simply tap on the asset to select (include) it. Return to the home screen, and your selected asset should be displayed.
- •To remove an asset, simply tap on the asset to deselect (exclude) it. Return to the home screen, and the asset should no longer be displayed.Note: removing an asset does not impact your Balance total or mean that you lose ownership of the asset.
If you are unable to find a specific asset that you believe you own, check your Token reputation settings. For example, if you elected to toggle off "Not listed" tokens then try toggling it on and searching again. If the asset you are looking for is a NFT, then visit the NFTs section on your Kraken Wallet home screen.
Can I connect my Kraken Wallet to a hardware wallet?
At this time, the Kraken Wallet mobile app does not support hardware wallet connections.
How do I view my transaction activity?
To view your wallet's Recent activity, open your Kraken Wallet app and drag down the main sheet (it says Assets at the top) to reveal your 3 most recent transactions. Recent activity will display beneath the Send and Receive buttons on your home screen.
To view All activity, follow the same steps described above for 'Recent activity' and then tap the All activity button.
To view all activity for a specific asset, simply navigate to the Assets section on your home screen and tap on the desired asset. Then tap on the clock icon in the top right corner of your screen.
You can then scroll through the Activity sheet to see a summary view of your transactions. You may also tap on any transaction to see more details, and tap the View in explorer button to view your transaction on the relevant blockchain explorer.
I have a new phone, how do I migrate my wallet?
When updating the Kraken Wallet app to a new device it is extremely important, before deleting or removing the app from the old device, to have the Secret Recovery Phrase copied and recorded somewhere safe. Without this information, your Kraken Wallet will be lost and you will no longer be able to recover or import your wallet.
With the new device:
- 1.Download the Kraken Wallet app from the App Store (iOS) or Google Play (Android).
- 2.Import the wallet with your Secret Recovery Phrase. Visit our guide: Import a wallet to Kraken Wallet
- 3.If possible, ensure all the assets and details match the wallet on the old device.
It is recommended to not remove your Kraken Wallet app from the old device until the new device has access to the wallet. This may not always be possible.
Do not leave the Kraken Wallet app installed on old device no longer in use. It is recommended to completely wipe all data from this device to avoid compromising your wallet.
Does my mobile device support Kraken Wallet?
Kraken Wallet is available on the App Store for iPhones and the Google Play Store for Android devices.
The minimum operating system requirement for the Kraken Wallet app is iOS 14 and Android 9 (API Level 28).
Set up or disable push notifications
Enabling and disabling push notifications on Kraken Wallet is important for staying updated on transactions and account activity.
Enabling push notifications:
Apple iOS devices:
- 1.Open the Settings app on your iOS device.
- 2.Scroll down and find the name of your Kraken Wallet app.
- 3.Tap on the app name to access its settings.
- 4.Look for the Notifications or Notification Settings option and tap on it.
- 5.Toggle the switch to enable notifications for the wallet app.
- 6.You may also customize notification preferences, such as sound, badges, and alert style, as per your preferences.
Android devices:
- 1.Open the Settings app on your Android device.
- 2.Scroll down and select Apps or Application Manager, depending on your device's version.
- 3.Find and tap on the name of your Kraken wallet app.
- 4.Tap on App notifications or a similar option.
- 5.Toggle the switch to enable notifications for the wallet app.
- 6.You can further customize the notification settings, including sound and vibration preferences.
Disabling push notifications:
Apple iOS devices:
- 1.Open the Settings app on your iOS device.
- 2.Scroll down and find the name of your Kraken wallet app.
- 3.Tap on the app name to access its settings.
- 4.Look for the Notifications or Notification Settings option and tap on it.
- 5.Toggle the switch to disable notifications for the wallet app.
Android devices:
- 1.Open the Settings app on your Android device.
- 2.Scroll down and select Apps or Application Manager, depending on your device's version.
- 3.Find and tap on the name of your Kraken Wallet app.
- 4.Tap on App notifications or a similar option.
- 5.Toggle the switch to disable notifications for the wallet app.
How can I delete my wallet on Kraken Wallet?
When a wallet (or account) is created on the blockchain, it cannot be permanently deleted. So long as you have access to your Secret Recovery Phrase, your wallets (accounts) can always be recovered.
While it's not possible to permanently delete wallets (accounts), you may choose to remove a wallet from your Kraken Wallet app if you created or imported multiple wallets.
To do so:
- 1.Open your Kraken Wallet app and navigate to Settings.
- 2.Tap Manage wallets, and then tap the three dots by the wallet (e.g. "Wallet 02") that you wish to remove.
- 3.Tap the red Remove option.
If you wish to completely remove your wallets and Secret Recovery Phrase from Kraken Wallet, you may simply delete (uninstall) your Kraken Wallet mobile app.
IMPORTANT: If you delete (uninstall) your Kraken Wallet mobile app, the only way to access or recover your wallets is with your Secret Recovery Phrase.
Without your Secret Recovery Phrase, your assets will be lost forever.