Kraken Exchange Setup

Connect your Kraken account to SignalBee in minutes. This guide walks you through creating and configuring API keys with the exact permissions needed for automated trading.

Good to know: Kraken uses a two-value authentication system (API Key + Private Key). Kraken calls the secret "Private Key" rather than "Secret Key" - they mean the same thing.

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Prerequisites

Before you begin, make sure you have:

• Verified Kraken account - Intermediate or Pro verification recommended for higher trading limits
• 2FA enabled on Kraken - Required for API key creation
• SignalBee account - Ready to connect an exchange
• Password manager - For storing your API credentials securely

Security Note: Kraken requires 2FA (two-factor authentication) to create API keys. If you haven't enabled 2FA yet, go to Security → 2FA Settings in your Kraken account settings.

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Understanding Kraken Verification Levels

Kraken offers tiered verification levels that affect your trading limits. API access is available at all levels:

Why Upgrade to Intermediate?

The Intermediate verification level provides significantly higher trading limits with reasonable documentation requirements:

• Higher daily/monthly limits - Suitable for most trading strategies
• Full feature access - All trading pairs and order types
• Reasonable requirements - Standard identity verification

Tip: If you're serious about automated trading, Intermediate verification is recommended. Starter limits may restrict your trading activity.

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Creating Your API Key

Follow these steps to create an API key on Kraken.

Step 1: Log In to Kraken

1. Go to www.kraken.com
2. Log in with your email/username and password
3. Complete 2FA verification (authenticator app or hardware key)

Step 2: Navigate to API Settings

1. Click the gear icon (Settings) in the top-right corner
2. Select API from the menu
3. You'll see a list of your existing API keys (if any)

Step 3: Create a New API Key

1. Click the Add Key or Generate New Key button
2. You'll see the API key configuration form

Step 4: Label Your API Key

1. Enter a descriptive Key Description: SignalBee Trading
2. A clear label helps you identify this key's purpose later

Tip: Use specific labels like "SignalBee-Spot" or "SignalBee-Main" if you plan to create multiple keys for different purposes.

Step 5: Set Permissions

Configure the permissions for your API key (see Configuring Permissions section for details):

1. Check the boxes for required permissions (Query Funds, Query Orders, Create & Modify Orders)
2. Leave unnecessary permissions unchecked
3. ❌ Do NOT enable Withdraw Funds - Never needed

Step 6: Complete 2FA Verification

Kraken requires 2FA to create API keys:

1. Authenticator App - Enter the 6-digit code from your authenticator
2. Click Generate Key to confirm

Step 7: Copy Your Keys IMMEDIATELY

After verification, Kraken displays your API credentials:

• API Key - Can be viewed later in your API Management page
• Private Key - ⚠️ Shown only ONCE - Copy it immediately!

Warning: If you close this page without copying your Private Key, you'll need to delete this API key and create a new one. There is no way to recover a Private Key.

Save both keys in your password manager now before proceeding.

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Configuring Permissions

Kraken uses a granular checkbox permission model. Each capability must be individually enabled. Configure these carefully to balance functionality and security.

Required Permissions

Optional Permissions

Never Enable These Permissions

Security Note: Even if your API key is somehow compromised, funds cannot be withdrawn without withdrawal permissions enabled. This is your most important security protection.

How to Edit Permissions

1. In API Management, find your SignalBee API key
2. Click the Edit or Modify button next to the key
3. Check or uncheck the permission boxes as shown above
4. Complete 2FA verification to save changes

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IP Whitelist Configuration

IP whitelisting restricts your API key to only work from specific IP addresses. This is optional but adds a strong security layer.

Why Use IP Whitelisting?

Even if your API key is somehow exposed, it won't work from unauthorized IP addresses.

SignalBee Server IP Addresses

Note: Contact support@signalbee.trade to request SignalBee's current production IP addresses for whitelisting. We maintain static IPs specifically for exchange API calls and will notify you before any infrastructure changes.

How to Configure IP Whitelisting

1. When creating or editing your API key, find the IP Address Whitelist section
2. Enter SignalBee's IP addresses (one per line or comma-separated)
3. Save your changes
4. Complete 2FA verification

If You Skip IP Whitelisting

If you choose not to use IP whitelisting:

1. Leave the IP whitelist field empty (allows access from any IP)
2. Understand this is less secure but still safe if withdrawals are disabled
3. Your other security measures (no withdrawal permission) still protect your funds

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Adding to SignalBee

Now connect your Kraken API key to SignalBee.

Step 1: Go to Exchanges Page

1. Log in to your SignalBee account
2. Navigate to Exchanges in the main menu

Step 2: Add New Exchange

1. Click the Add Exchange button
2. Select Kraken from the exchange list

Step 3: Enter Your Credentials

1. API Key - Paste your Kraken API key
2. Private Key - Paste your Kraken Private Key (note: Kraken uses "Private Key" terminology)
3. Label (optional) - Enter a name like "Kraken Main Account"

Step 4: Test the Connection

1. Click Save and Test Connection
2. Wait for SignalBee to verify your credentials
3. Look for the ✅ success message

Step 5: Verify Your Setup

After successful connection:

1. Your Kraken balances should appear in SignalBee
2. Check that your expected assets are listed
3. Balances confirm the Query Funds permission is working

Tip: If balances don't appear, verify that Query Funds permission is enabled in your Kraken API settings.

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Kraken-Specific Considerations

Ticker Format (Handled Automatically)

Kraken uses unusual ticker formats that differ from other exchanges. SignalBee handles this conversion automatically - you don't need to worry about it.

Important: Use standard formats in your signals (BTCUSD, ETHUSDT). SignalBee automatically converts to Kraken's format.

Currency Code Mapping

Kraken uses non-standard currency codes for some assets:

Tip: You don't need to remember these - SignalBee handles the conversion. Use standard codes like BTC, not XBT.

Minimum Order Sizes

Kraken enforces minimum order values. Orders below these minimums will be rejected:

Tip: Check Kraken's trading minimums for current minimum order sizes.

Trading Fees

Kraken's fees are slightly higher than some competitors:

Tip: Increase your trading volume to unlock lower fees. Kraken's fee schedule rewards high-volume traders.

API Rate Limits

• Kraken uses a counter-based rate limit system
• Each endpoint consumes a certain number of "rate limit units"
• SignalBee handles rate limiting automatically
• If you see rate limit errors, reduce your signal frequency or check for duplicate webhooks

Strong Regulatory Compliance

Kraken is known for strong regulatory compliance, making it a popular choice for:

• US-based traders
• EU-based traders
• Users who prioritize exchange legitimacy

This may require more thorough identity verification but provides greater peace of mind.

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Troubleshooting

Common Kraken-specific errors and solutions:

Connection Test Fails?

If your connection test fails in SignalBee:

1. Double-check both keys - Copy-paste errors are the most common issue (Kraken keys are long)
2. Wait a few minutes - New API keys may take 1-2 minutes to activate
3. Verify permissions - Ensure Query Funds and Create & Modify Orders are enabled
4. Check IP whitelist - Disable IP restriction temporarily to test
5. Try a different browser - Clear cache or use incognito mode

For persistent issues, see our Error Codes Reference or contact support@signalbee.trade.

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Security Best Practices

Follow this checklist to keep your Kraken account secure:

Kraken Account Security

• Enable 2FA with an authenticator app (Google Authenticator, Authy) - more secure than SMS
• Use a unique, strong password for Kraken (not reused from other sites)
• Enable Global Settings Lock on Kraken - prevents settings changes without additional verification
• Enable withdrawal address whitelist on Kraken - restricts withdrawals to pre-approved addresses only

API Key Security

• Create a dedicated API key just for SignalBee - don't reuse keys across services
• Never enable withdrawal permission - SignalBee never needs it
• Never enable Export Data permission - Not needed for trading
• Consider IP whitelisting for maximum security
• Never share your Private Key via email, chat, or screenshots
• Store keys in a password manager (1Password, Bitwarden, etc.)

Ongoing Security

• Review your API keys periodically in Kraken - delete any you don't recognize
• Rotate API keys every 90 days as a security habit
• Monitor trade history on Kraken for any unauthorized activity
• Keep your email secure - it's used for Kraken account recovery

Security Note: Even with all these precautions, the most important protection is never enabling withdrawal permissions. Without this permission, your funds cannot be moved off the exchange even if everything else is compromised.

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Related Resources

• API Key Best Practices - General API key security guidance
• Security Overview - How SignalBee protects your data
• Error Codes Reference - Common error messages explained