Support Center | Kraken (2024)

FAQs

How can I contact Kraken? ›

Get account assistance at support.kraken.com.

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.”

support@email.kraken.com.

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.

Do you have a negative balance in any currency? This will prevent withdrawals from your account. Solution: deposit funds in the currency that has a negative balance or exchange other currencies to make up for the negative balance.

If you are unable to withdraw your cryptocurrency balances from Kraken, there may be several reasons for this. If you make any changes to your password, withdrawals to new withdrawal addresses will be held for up to 24 hours, for security purposes.

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.

Does Kraken make you wait to withdraw? ›

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.

What Makes Kraken a Good Choice. Kraken's top-notch security, low trading fees and solid range of available cryptos makes it a good choice for investors who are just experimenting with crypto as well as more experienced traders.

Overall, Kraken is an excellent choice for cryptocurrency trading and investing. Make sure you understand all costs and risks involved and take steps to secure your account with two-factor authentication. If you do, you should have a positive experience buying and selling cryptocurrency through Kraken.

Does Kraken report taxes to the US IRS? Kraken complies with all US IRS regulations. If you have received a Form 1099-MISC, Form 1099-NEC or Form 1099-INT then this information has been reported to the IRS.

You'll be required to enter this each time you use the device. When you first purchase and use a hardware wallet, a set of secret recovery phrases will be generated from within the device. These contain up to 24 random words and must be copied down physically (on paper or even on metal plates) in the correct order.

Most applications are processed in five days or fewer if we have received all the required documents. The processing of the application can begin only after all the required documents have been received. Please note that additional documentation may be requested during the application process.

Can I create multiple accounts? Yes, you can create multiple accounts, but if you just want to increase your deposit & withdrawal limits we can easily help you with this for your existing account. There's no need to open a second account to go above funding limits.

We provide 24/7 live customer support.

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

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).

Is Kraken going out of business? ›

Crypto exchange Kraken said Wednesday that it will stop operations in Japan next month, blaming a “weak crypto market globally.” The company will deregister from Japan's Financial Services Agency on Jan. 31, 2023.

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.

Sign in to your Kraken account and navigate to Funding. Scroll down to your Recent transactions. Here you will find your most recent deposit and withdrawals.

Bank of America makes it easy to wire money to your Kraken account from inside your online banking or in-person at a local Bank of America location. Below are the instructions detailing how to wire money with our MVB funding method.

Once you have added your bank account, scroll to the bottom of the page, and select the bank account from the drop-down menu. Enter the amount you wish to withdraw and click on Review Withdrawal.

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

The daily limit works on a 24-hour sliding window, while the monthly limit works on a 30-day sliding window. What that means is that you have to wait 24 hours for the daily limit to reset and 30 days for the monthly limit to reset. Example: Your daily deposit limit is 100,000 USD.

Is Kraken better than Coinbase? ›

While both Coinbase and Kraken are highly trusted cryptocurrency exchange platforms, Coinbase's benefits are more specific to U.S. traders, while Kraken is the best for international traders overall. It has some of the lowest fees in the industry and offers robust security for users.

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.

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.

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.

This is a common way that a Kraken account can be compromised. If someone has control of your email, they can make username requests and password resets, allowing full access to your account if you haven't enabled sign-in two-factor authentication or a Master Key to prevent unauthorized password resets.

About Kraken

The company allows users to trade international currencies and other digital currencies. It was founded in 2011 and is based in San Francisco, California.

Kraken takes every measure to prevent fraud and be fully compliant with KYC and AML regulations for trading of cryptocurrencies.

Is Kraken Regulated? Yes, Kraken is a regulated cryptocurrency exchange that is subject to regulatory oversight in the jurisdictions where it operates.

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.

Can the IRS see my crypto wallet? ›

Yes, the IRS can track cryptocurrency, including Bitcoin, Ether and a huge variety of other cryptocurrencies. The IRS does this by collecting KYC data from centralized exchanges.

Yes, the IRS can track crypto as the agency has ordered crypto exchanges and trading platforms to report tax forms such as 1099-B and 1099-K to them. Also, in recent years, several exchanges have received several subpoenas directing them to reveal some of the user accounts.

For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency.

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.

Final Verdict

While both Coinbase and Kraken are highly trusted cryptocurrency exchange platforms, Coinbase's benefits are more specific to U.S. traders, while Kraken is the best for international traders overall. It has some of the lowest fees in the industry and offers robust security for users.

Kraken is headquartered in San Francisco, 237 Kearny St #102, United States, and has 6 office locations.

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.

Overall, Kraken is an excellent choice for cryptocurrency trading and investing. Make sure you understand all costs and risks involved and take steps to secure your account with two-factor authentication. If you do, you should have a positive experience buying and selling cryptocurrency through Kraken.

Kraken Bank will be based in the state of Wyoming and aims to offer “a more seamless integration between crypto and the traditional financial system,” according to Kraken Bank's website. “We're the first (ever) crypto company to be awarded a U.S. state banking charter.

Yes, Kraken reports to the IRS. If you're a US resident and you earn more than $600 in income via Kraken (from staking rewards and so on), Kraken will issue you a 1099-MISC Form.

Does Kraken need SSN? ›

Valid SSN (Social Security Number) or ITIN (Individual Taxpayer Identification Number) US clients only.

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.

Kraken is a United States–based cryptocurrency exchange, founded in 2011. It was one of the first bitcoin exchanges to be listed on Bloomberg Terminal and is reportedly valued at US$10.8 billion, as of mid-2022.

Kraken ownership is housed under an organization (likely an LLLP) named Seattle Hockey Partners, and there are no public filings of ownership percentages for the franchise.

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.

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.