PIX is an instant payment system created by the Central Bank of Brazil. It allows people and businesses to send and receive cash 24/7.
Who can use PIX?
To use PIX, you must have the following:
•
A verified Kraken account registered to an address in Brazil
•
a Brazilian Tax ID (CPF) which matches the name on your Kraken account,
•
a bank account or wallet app linked to your CPF which supports PIX payments.
Can I deposit BRL directly into my Kraken account?
You can deposit Brazilian Real (BRL) to Kraken via PIX. However, BRL cannot be held in your Kraken account. Once deposited, your BRL will be automatically converted to US Dollars (USD). Learn how to deposit here.
Currently, BRL deposits are only available via Kraken web (kraken.com/c).
Can I withdraw BRL from Kraken?
Withdrawals in BRL are not available at the moment, but they’re coming soon!
What’s the difference between a PIX code and PIX key?
PIX code: is the number or QR code that shows who will receive the money in a PIX transaction. You use it to send money from your bank to your Kraken account using PIX.
PIX key: is the unique identifier that represents your bank account in Brazil. You use it when you want to withdraw money.
What is a CPF?
CPF is a unique 11 digit number issued by the Brazilian Inland Revenue Service representing your registration with the Cadastro de Pessoas Físicas in Brazil.
What taxes & fees are included in a PIX transaction?
Each PIX transaction is assesed a fee of 0.5% of the transaction value. This is inclusive of IOF tax (0.3%) as well as a 0.2% transaction fee.
Can I hold BRL in my account?
No, any BRL deposited will be automatically converted into USD.
How is the exchange rate determined?
Kraken’s payment providers utilize a network of foreign exchange brokers to provide a real time exchange rate from BRL to USD each time a transaction is initiated. The exact exchange rate, inclusive of taxes and fees, is displayed prior to completing your payment.
