Support Center | Kraken (2024)

FAQs

How do I withdraw money from Kraken? ›

Sign in to your Kraken account and click the Withdraw button. You can also navigate to the Withdraw page by clicking on Transfer on the left hand side of your home page. Ensure you are on the Withdraw tab in the new page. You can confirm that you are on the Withdraw tab by checking the tabs under the Transfer header.

Our dedicated support specialists are here to help you 24/7. “Kraken's support team is the best in the industry. Issues that take weeks to solve on other exchanges are usually solved within 24 hours by your support team.”

Get account assistance at support.kraken.com.

support@email.kraken.com.

Certain instant purchases, such as first time ACH Online Banking, debit or credit card or digital wallet purchases, will trigger a withdrawal hold for up to 72 hours. Withdrawal holds may also be triggered by deposits from certain banks as well as security reasons.

ACH deposits via Plaid are available instantly for trading, but will be subject to a seven day withdrawal hold. The seven day hold will apply after each deposit and is applicable to any assets in cash or cryptocurrencies equivalent to the deposited amount.

MVB Bank funding method supports domestic USD deposits and withdrawals via Fedwire. To use MVB Bank your Kraken account must be associated with a US (except Texas) address. Before you deposit or withdraw with MVB bank, please review our article for additional requirements.

Withdrawal hold

Kraken supports the following currencies: USD, EUR, CAD, AUD, GBP, CHF and JPY.

Kraken is available internationally and to most U.S. residents. However, the exchange is not currently available to residents in the states of New York or Washington.

Why is Kraken holding my funds? ›

Withdrawal hold

For enhanced security, debit and credit card purchases using USD may experience the 72 hour lock discussed above on all purchases, not just your first purchase. If you make any changes to your password, withdrawals to new withdrawal addresses will be held for up to 24 hours, for security purposes.

Kraken remains one of the very few leading regulated exchanges that has never been breached. Nevertheless, it's recommended that users never hold all their funds on any single crypto exchange.

Navigate in your browser to https://www.kraken.com/sign-in and click on Help. Click on Recover my username. Enter the email address that is associated with your Kraken account. Then click the Recover username button.

If you would like to cancel the use of your Account, you may do so by calling 1-888-824-8817 or emailing contact@crypto.com.

Kraken remains one of the very few leading regulated exchanges that has never been breached. Nevertheless, it's recommended that users never hold all their funds on any single crypto exchange. With DeFi protocols, a user's assets are held in smart contracts written and deployed by a protocol's development team.

Crypto exchange Kraken agreed to shut down its U.S. cryptocurrency staking service and pay $30 million in penalties to settle U.S. Securities and Exchange Commission charges that it failed to register the program, the agency said on Thursday, in a move that could cause headaches for platforms with similar offerings.

Holding period. If you've recently purchased crypto via card, ACH or Open Banking, your crypto may be subject to a holding period. During a holding period, you cannot withdraw from your cash (GBP, EUR, or USD) account, send funds to your DeFi Wallet, or send to an external wallet.

How to find the status of your deposit or withdrawal. Sign in to your Kraken account on Kraken.com. Click on Transactions on the left hand side of your screen. Click on a transaction in the list to see its status.

Binance: Access. Kraken is available to all U.S. residents, except those living in Washington and New York.

Does Kraken use Zelle? ›

Sign into your Chase online banking account. From the Pay & transfer menu, select Wire Money. At this time, our USD banking providers do not accept Zelle or ACH transfers. Only wire transfers are accepted.

Finding your Public Account ID on the Kraken app

To find your Public Account ID on the Kraken app, go to the App settings tab, click on Account details and your account number will appear.

While Kraken and Coinbase both present a large selection of assets with interest-earning perks and mobile trading options, Kraken may be the better choice for traders in search of lower fees or features like margin and futures trading.

Kraken gives users access to 180+ digital assets they can buy, sell and store in their account. You make money as the price of your crypto holdings rise, which you can then sell for a profit.

What tax forms does Kraken provide? Kraken currently only provides a US Form 1099-MISC, a 1099-INT and 1099-NEC which is filed with the US Internal Revenue Service (IRS) and a copy is provided to you (if you are eligible).

Yes, Kraken is available in the United States but restricts all its services to residents living in Washington state and New York. Although it is accessible in the US, users do not have access to staking services or derivatives trading.

Is Kraken under investigation? ›

Kraken is under investigation by the U.S. Securities and Exchange Commission (SEC) as to whether rules were broken in certain offerings to U.S. investors, Bloomberg reported Wednesday.

Trading fees are charged when your order is executed (matched with another client's order). Orders that are cancelled before being executed (also known as "untouched" orders) do not incur any fees. If you are trading using leverage (an optional, advanced feature), additional margin opening and rollover fees will apply.

There is a $10 minimum per transaction. Six maximum transactions per 24 hours. $10,000 maximum spending within a time-based seven day rolling period. A maximum of three bank accounts can be connected at any given time.

Kraken operates as a global bitcoin exchange company. The company allows users to trade international currencies and other digital currencies. It was founded in 2011 and is based in San Francisco, California.

While the investments made through the bank will not be insured by the Federal Deposit Insurance Corporation (FDIC), Kraken says all assets will be available as cash or the least risky, most liquid cash equivalents.

Kraken is an exchange, not a wallet service. We provide clients the ability to deposit funds to our corporate wallet for safekeeping while the funds are being exchanged or used for trading or staking*, but we do not provide a personal wallet service.

SAFE & SOUND

Security has always been Kraken's top priority. Kraken Bank is built on a foundation of best-in-class digital security practices. We're willing to bet we're more secure than your current bank.

To delete any of your saved bank account details:

Select the Withdraw button and choose the applicable withdrawal currency. Select the applicable method from the drop-down menu. Click on the Manage button. Click on the red X button next to the bank account you wish to remove.

A Master Key is an additional password that allows you to: Prevent an unwanted password reset, even if your email account is compromised (If enabled, the Master Key is required to reset your Kraken sign-In password).

How do I get my crypto back from a scammer? ›

Cryptocurrency payments typically are not reversible. Once you pay with cryptocurrency, you can only get your money back if the person you paid sends it back. But contact the company you used to send the money and tell them it was a fraudulent transaction.

Getting professional recommendations from an accountant or a lawyer is the best way to find a crypto financial advisor. They can also browse the internet and explore credible websites like The National Association of Personal Financial Advisors (NAPFA).

We provide 24/7 live customer support.

It's our priority to help you make the most of your Crypto.com experience.

Reasons why you should NOT leave your funds on Kraken

Like said earlier, bitcoin and cryptocurrency exchanges have always been a very hot target for hackers, as hackers could potentially get away with millions and billions of dollars worth of coins if they ever successfully cracked Kraken's system.

In February 2023, the Securities and Exchange Commission (SEC) categorized Kraken's staking service as an illegal sale of securities.

Withdraw cash

Select Withdraw. Choose the currency you'd like to withdraw and input the amount. In the Withdraw To section, select an existing withdrawal address or click Enter a new bank account. To add a new bank account, select your preferred funding method.

Yes, Kraken is safe to use. It has been operating since 2011 and has built a reputation for security and transparency. Kraken employs a number of security measures to protect user funds, including two-factor authentication, encryption, and cold storage for the majority of its cryptocurrency holdings.

Broker exchanges

You simply deposit your cryptocurrency into a crypto exchange/broker of your choice and request a withdrawal in one of the available fiat currencies. It is a simple, easy and secure process; however, it takes around 4-6 days to get the money in your bank account.

How do I convert crypto to cash on Kraken? ›

There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees. A network fee is necessary in order to have your transaction processed by the decentralized cryptocurrency network.