Kraken exchange just took a significant stride forward in its mission to drive crypto adoption with the launch of Kraken Wallet, a self-custodial wallet designed for seamless onchain interaction. Simple, secure, and powerful, Kraken Wallet enables users to explore the decentralized world and manage digital assets effortlessly.
Your Easy-to-Use Onchain Gateway
Whether a Kraken client or not, anyone can utilize the multichain Kraken Wallet as their gateway to the decentralized financial system. Upholding privacy and security, Kraken Wallet offers self-custody of digital assets and data, delivering an onchain experience backed by Kraken’s renowned security and client service.
The intuitive user interface facilitates seamless exploration of the onchain realm without the hassle of network switching or manual creation of multiple seed phrases. Kraken Wallet serves as a comprehensive solution for self-custody needs, featuring:
- Comprehensive Portfolio Tracking: Monitor tokens, NFTs, and DeFi positions in one place.
- Multichain Support: Interact effortlessly with eight popular blockchains including Bitcoin, Ethereum, Solana, Optimism, Base, Arbitrum, Polygon and Dogecoin.
- WalletConnect Integration: Securely access thousands of dApps for enhanced functionality.
- 24/7/365 Support: Rely on Kraken’s award-winning customer experience team for assistance at any time.
Privacy is Paramount
Kraken Wallet prioritizes user privacy by collecting only the minimal data necessary for wallet functionality. User activity is routed through Kraken’s infrastructure to shield IP addresses, safeguarding identity and location information from external exposure.
Rest assured, Kraken Wallet does not store user sign-in details, email addresses, or KYC information, underscoring the company’s commitment to user privacy.
This privacy-centric approach is welcome news to users from countries and territories where crypto trading is monitored or banned.
Backed by Kraken’s Industry-Leading Security
Protecting user data and digital assets remains an utmost priority. Kraken Wallet was developed in collaboration with their security team, leveraging over 12 years of experience securing Kraken exchange assets.
The wallet features multiple layers of security, including biometrics from mobile devices and user-provided password encryption. Additionally, a full-scale security audit conducted by Trail of Bits ensures robust protection against potential vulnerabilities.
You can read more about Kraken’s approach to crypto wallet security on their blog: How Kraken Wallet addresses challenges in mobile crypto security. It’s a comprehensive overview of many security features and best practices used by their experience team of security professionals.
Open Source Development
Kraken Wallet sets a new standard as the first major-exchange wallet to be open-source at launch. Embracing transparency and decentralization, Kraken has made the wallet’s code available on GitHub, inviting third-party review and collaboration.
Open source development enhances security and fosters community engagement, aligning with the core principles of crypto. Kraken remains committed to supporting the open-source community and advancing decentralization through initiatives like Kraken Wallet.
Ensuring Security and Transparency
To ensure user security and transparency, Kraken Wallet incorporates multiple security controls:
- App Lock: Utilizes randomly generated strings stored in Keychain or Keystore, protected by biometric or passcode authentication.
- Password Encryption: User-provided passwords are manually entered when required, utilizing the Argon2 algorithm for key derivation.
- Database Encryption: Non-secret data stored in the database is encrypted with a random 64-byte key.
- Lockout Mechanism: Delays subsequent password attempts after incorrect entries, deterring brute-force attacks.
Networking Privacy
Kraken Wallet safeguards user privacy by proxying requests through an API gateway, preventing user data leaks to third-party services. The backend service acts as an API for querying public blockchain data, ensuring user anonymity.
External Security Audit
The security of Kraken Wallet underwent a comprehensive audit by Trail of Bits, a renowned security auditing firm. The publicly available audit report provides insights into the platform’s security measures, reinforcing Kraken’s commitment to user safety.
Find more exchanges with decentralized wallets
Prioritizing Security, Transparency, and User Control
Kraken Wallet strikes a balance between convenience and robust protection, offering users a secure solution for self-custody crypto assets. Built on interoperable foundations, the wallet sets the stage for ongoing innovation and enhancement, embodying Kraken’s dedication to advancing decentralization.
