How to Cancel Kraken & Close Your Crypto Account (2026 Guide)

Updated February 2026 · Withdraw everything before closing

Step 1: Withdraw All Funds

• Crypto: Withdraw to your own wallet (hardware wallet recommended) or transfer to another exchange
• Fiat (USD/EUR): Withdraw to your linked bank account
• Staked assets: Unstake first — unstaking periods vary (ETH can take days)
• Open orders: Cancel all open/pending orders
• Margin positions: Close all margin positions and repay any borrowed funds

Step 2: Download Your Records

• Go to History → Export and download your full trade history
• You'll need this for tax reporting — the IRS requires records of all crypto transactions
• Download ledger exports, trade history, and any staking reward reports

Step 3: Request Account Closure

1. Log in to kraken.com
2. Go to Settings → Account
3. Scroll to the bottom and click Close Account or Deactivate Account
4. If the option isn't visible, contact support: open a ticket at support.kraken.com
5. Subject: "Request to close my account and delete my data"
6. Include your account username and a clear closure request

Kraken may take 5-10 business days to process account closure. They're required to retain certain records for regulatory compliance, so full data deletion may not be immediate.

Cancel Kraken Pro / Paid Features

Kraken Pro (the advanced trading interface) is free — it's just a different UI on the same account. There's nothing to cancel. However, if you're paying for:

• Kraken API access: No separate charge — included with your account
• Staking: Unstake your assets to stop earning (and being locked)
• Futures trading: Close all futures positions before account closure

Tax Implications

Closing your Kraken account does NOT eliminate your tax obligations. If you sold, traded, or earned staking rewards during the year, you owe taxes on those transactions regardless of whether the account is open.

• Kraken reports to the IRS (1099 forms for US users)
• Keep your trade export files for at least 7 years
• Consider using CoinTracker, Koinly, or TaxBit to calculate your crypto taxes

Alternative Exchanges

• Coinbase: Easier UI, more mainstream, but higher fees on basic platform
• Gemini: Strong security, regulated, ActiveTrader has low fees
• Self-custody (hardware wallet): Move crypto to a Ledger or Trezor — no exchange risk, no monthly fees