STAY AWAY from Kraken.com
Everyone who is into cryptocurrencies has at least heard about Kraken.com which is an exchange for cryptocurrencies. It is owned and operated by Payward Inc. which is based in San Francisco. Kraken is one of the most leading exchanges in the crypto space.
Although it being such a huge exchange and backed up by many investors, their customer service is a huge problem.
I tried to go to their website and...
After a personal friend of mine told me about his problems with kraken.com, I decided to check some reviews of people myself.
Here are some reviews I got online. Think twice before getting a trading account here. TWICE!
They have a history of delaying withdrawals. Their customer support is not responsive and how would you make a transaction if the site is down always?
Otherwise, the website is just fine, the prices are decent and the fees are quite low, you don't have any minimal deposit. Looks pretty legit otherwise but If I were you, I would STAY AWAY from Kraken.com.
I found one more user on steemit who has had a similar problem and has made a detailed post about his problem. Check it out : HERE
Instead, I would take my business to Binance.com where the website has a 100% uptime, the customer care is amazing and I have encountered ZERO problems till date.
They have an amazing trading interface which is SUPER easy to use. And a mobile app which keeps you update on the go.
SIGN UP ON BINANCE.COM here: Sign up Binance.com
Read my article on How to keep your bitcoins in a paper wallet: Here
Thanks for reading and keep your money safe!
Hi, are you staying in India ?
Why do you use this site to buy ?
I am. I got this site because it dint take much to get verified and other websites took a lot of time. Shifted to Binance as soon as I heard about it.
Binance dosent need any verification?
I register today but couldn't understand how to buy any currency,could you guide me pls
Sure man, Are you on discord? Or ping me on steemit chat, I'd be happy to help you out.
I'll ping you
kraken had a major problem a view days ago - and they returned with all the features. Let's give them some credits here!
But I don't really think that is enough compensation for what they did.
Kraken except Euro too and they are working to fix there problems. There sill is a future with kraken.
I already moved it to Binance.
It has no euros!
Doesnt bother me, I live in India and I use BTC for my transactions related to crypto.
Good for you!
Resteemed your post
Thanks a lot! Really appreciate it!
Haha. I'm that friend.
Yes you are haha
thanks for warning, resteem
Thank you for sharing! Really appreciated.
Good read. I am planning to get in to cryptocurrency trading. This is a good thing to know.
Let me know if I can help you out in anyway :)
Welcome to the community!
I will. Thanks!
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Nah them all with that damn ID verification, suckers, decentralized their ass!
If you find a DEX that allows USD -> BTC and back, let me know.
Binance is a very good option haha, check out the end of a post to sign up. :)
About a month ago I wrote about my terrible experience with Kraken. We all know the software is broken and you can’t place an order without trying 10 times. In my case i set up some “timed” limit sell orders. In other words the limited sell order is dropped into the market at a future time specified by me.
When the order is dropped into the market, it should be executed, if possible, at the best bid price, provided my limit is below the market price.
In three cases on the same day, each order was executed at the “limit”, not at the bid price. The limits set were 100s of dollars below the market.
I got no comprehension from the foreign girl working in support. Don’t think she even knows what a bid-ask is.
Of course, there is no compensation. This is Crypto world. It’s like the wild west.
I mentioned about a very bad experience my friend had. He coudnt even enter the website because it was down and he lost a lot of money while he was trying to sell off his LTC when the price was high. I am going to stay away from it. Thank you for sharing your experience as well.