Kraken.com Review 2020 – Scam or Not?

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Kraken is leading cryptocurrency exchange since 2011, the platform provides options to buy and sell bitcoin and altcoins against USD and other fiat currencies, as well as margin trading options for both spot and futures market up to 50x. Enhanced security features ensure your funds are safe 24/7 while their fee schedule enables smart trading at low costs. Kraken is one of the few exchanges which offers margin trading with bitcoin for US residents, however their focus is not limited to this region only and supports customers worldwide.

Review Contents

Kraken is one of the largest and oldest Bitcoin exchange in terms volume and liquidity. After trying to help MtGox recover from the hacking attack, Jesse Powell, a serial entrepreneur decided to offer the world the first professional BTC exchange – that’s how Kraken was born. The company was founded in San Francisco on 28th of July, 2011 and remains based in California.

You can follow updates related to Kraken’s services on their own blog, this is where they provide an overview of new features and services. On the social media channels, like Facebook, Twitter and Linkedin Kraken frequently engage with their followers and share stories from the industry.  Jesse Powell, CEO of Kraken presents and explains services and concept himself in video messages and often engages with the public. In Kraken’s podcast, Jesse talks with various guests about interesting topics beyond blockchain and cryptocurrencies. 

The platform is an excellent choice for European users, but after a number of acquisitions in the last couple of years, their focus has shifted from Europe to Worldwide market. Since 2017 they support USD deposits and they have introduced futures trading in early 2019.

Kraken.com has all the content on its website in English – even more, you can choose between US and British English to best suit your needs. Furthermore, the site is available in eight other languages, including Spanish, French, Italian, Portuguese, Russian, Turkish, Chinese and Japanese (even though Japan is currently not on the supported countries list). 

Kraken logo

Verification

The verification process is straightforward, but Kraken can be a bit strict when it comes to the higher tier verifications. There are four tiers. Tier 1 take only a few minutes and performed automatically if everything is submitted corretly. It can take longer if the application requires manual review. Tier 2 abd 3 verification usually takes a couple of days to complete. Tier 4 (corporate verification) take currently more than 5 days due to increased demand.

Kraken doesn’t allow deposits, withdrawals or trading without verification. Here’s how the user’s limits increase with tiers:

Tier 1 (Starter) – Deposits and withdrawals are available in digital currency only. Trading, on the other hand, can be performed with digital as well as fiat currencies. Tier 1 verification requires:

  • Full name
  • Date of birth
  • Country of residence and physical address
  • Phone number verification

Tier 2 (Intermediate) – Deposits, withdrawals, and trading in digital currency are available. Margin trading is also available for verified accounts. Intermediate verification requires:

  • Valid government ID
  • Recent proof of residence
  • Occupation
  • Social Security Number (for US clients)

Tier 3 (Pro) – fiat currency deposits and withdrawals are available, and the funding limits, API call limites are way higher than in the intermediate verification. Tier 3 verification also allows margin trading. The verification requires a KYC to be filled out and signed.

Tier 4 (Pro Corporate) – Corporate account verification requires contacting support and providing company specific documents to support the application.

Deposit and withdrawal limits are sorted per tiers:

Tier 1 (Starter) – Fiat deposits and withdrawals are not possible. Deposits in digital currencies don’t have a limit, while withdrawals are limited to $5000 per day and $150,000 per month. Verification for Tier 1 requires some basic personal information without providing any supporting documentation.

Tier 2 (Intermediate) -Deposits and withdrawals in FIAT currency are both limited to $100,000 per day and $500,000 per month. Cryptocurrency withdrawals are limited to $500,000 per day and $15M per month. The verification requirement for Tier 2 is a government-issued passport and a proof of address..

Tier 3 (Pro) – Fiat deposits and withdrawals are limited to $10M daily and $100M monthly. Withdrawals in digital currencies are limited to $10M per day and $300M per month. There is no deposit limit for Pro users. Tier 3 verification requires and additional KYC questionnaire to be filled out and signed.

Kraken dashboard

Kraken accepts the following fiat currencies:

  • US dollar (USD)
  • Canadian dollar (CAD)
  • GB Pound (GBP)
  • Euro (EUR)
  • Japanese Yen (JPY)

And users can trade these cryptocurrencies:

Augur (REP), Basic Attention Token (BAT), Bitcoin (XBT), Bitcoin Cash (BCH), Cardano (ADA), Chainlink (LINK), Cosmos (ATOM), Dash (DASH), Dai (DAI), Dogecoin (XDG), EOS (EOS), Ethereum (ETH), Ethereum Classic (ETC), Gnosis (GNO), ICON (ICX), Litecoin (LTC), Watermelon (MLN), Monero (XMR), Nano (NANO), OmiseGO (OMG), PAX Gold (PAXG), QTUM (QTUM), Ripple (XRP), Siacoin (SC), Stellar Lumens (XLM), Tether (Omni Layer) (USDT), Tezos (XTZ), Waves (WAVES), Zcash (ZEC).

Possible trading pairs and fee schedule for each pair can be found here.

Kraken Fees Analysis

When it comes to fees, Kraken has reduced its prices drastically in order to stay ahead of the competition and currently is one of the cheapest trading platforms. The exchange charges the following fiat withdrawal fees:

EUR SEPA Withdrawal – EEA countries only €0.09

GBP SWIFT Wire Transfer – 0.125% with £35 minimum fee

USD SWIFT Withdrawal – all other countries 0.125% with $35 minimum fee

USD FedWire – available in the United States, $5 flat fee

CAD EFT – Canada only, 0.25%

JPY SWIFT – worldwide, 0.125% with $35 minimum fee

Cryptocurrency withdrawal fees and minimum amounts are different between each coin. Here are some examples, always refer to Kraken’s updated fee schedule for the current withdrawal fees.

  • Bitcoin ฿0.0005
  • Ether Ξ0.005
  • Ether Classic ξ0.00500
  • Ripple Ʀ0.02000
  • Litecoin Ł0.02000
  • Dogecoin Ð2.00
  • Stellar STR 0.00002
  • Zcash ⓩ0.00010
  • Augur (REP) Ɍ0.01000

When it comes to deposits, Kraken charges flat fees for the majority of transfers. ACH  and Fedwire cost 5 USD, SWIFT deposits cost 35 USD / EUR and SEPA transfers are free if sent through Fidor bank. Most of the deposits performed in cryptocurrency are free, except for the smaller, less liquid coins. You can find the updated fee schedule for crypto deposits here. For some coins, Kraken also charges a small address setup fee. 

Trading Fees

Trading fees are charged for both maker and taker, and they start at 0.16% for the maker and 0.26% for the taker. As the trading volume increases, fees percentage steadily drops all the way to 0.00% for the maker and 0.10% for the taker.

Futures fees are charged between -0.020% (instant rebate for makers) and 0.075% for takers.

For margin trading, Kraken charges an opening fee of 0.01%-0.02% and a rollover fee of 0.01%-0.02% after every 4 hours until the leveraged position is open in the trading platform.

Trading

Kraken offers less than ten different cryptocurrencies for trading, but it is possible to make direct trades between all available pairs. Together with five fiat currencies, the exchange gives enough trading options for everyone.

For those who are looking to have maximum control over their trades, Kraken remains the best choice.

Kraken trading platform

Margin trading is not available on all of the currency pairs, but only on the following most liquid altcoins:

Augur, Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Monero, Ripple, Tether. 

You can trade these coins with margin against the USD and EUR or against Bitcoin and Ethereum. The amount of leverage depends on the coin, which varies between 2x and 5x (Bitcoin and Ethereum).

The exchange recently introduced futures trading where you can trade on leverage up to 50x. Futures trading is available for verified users only outside of the US. Perpetual futures are available for Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin and quoted in USD.

Users can use various order types to manage risk like limit orders, advanced orders with predefined triggers, leveraged positions, margin trading as well as short selling.

XBT is Kraken’s short for Bitcoin, used instead BTC.

Ease of Use

Kraken software is highly rated for both professional and beginning cryptocurrency trading. The interface offers simple, intermediate and advanced templates, helping beginners to get their bearings and at the same time allowing expert traders to use all the advanced options they need.

The trading platform has an official iOS application and an Android application which include all the features you need for trading. Note that you need to connect your API key to the app, so familiarize yourself with the setup instructions before installing the app. Kraken Futures plafrom is currently running in a different applicaion for mobile devices, you can find the app in the Google Play store here or join the beta testing of the iOS app here

You can also use trade.kraken.com directly from your mobile as the platform is fully mobile-optimized already.

Kraken Pro Mobile App

Support

Kraken offers 24/7 support, with instant email and chat responses. The support used to be low rated as it sometimes took a couple of days to react, so some people were forced to act like this guy couple of years ago to post on Reddit to get heard. Other than that, no serious complaints were posted.

Since then Kraken opened its own Reddit thread where they try to respond to user queries public where applicable.

Kraken also runs a unique call back system. You can leave them a message over a ticket on the platform and they call you back on your previously registered phone number. They do not have a direct hotline to avoid scam. The hours of operations are between Monday to Friday, from 12:00 to 24:00 UTC time. Note however that the phone support is not able to help in case of issues with verification, login or trading, can only provide general updates and help related to crypto deposits.

Kraken.com Security Check

Kraken is probably one of the most secure online cryptocurrency exchanges in the world. In the aftermath of the Mt. Gox collapse, Kraken was the first company to create a cryptographically verified proof of reserves which shows that the exchange holds 100% of customer funds, as it should. They hold the majority of funds offline in cold storage. Their servers are held in secure facilities with armed guards, retina scanners, and top-notch video surveillance.

Kraken screenshot

The company has two-factor authentication, PGP encryption for email communication and global setting lock, which prevents any account changes in a particular time period.

So far Kraken hasn’t been hacked, but there were cases where careless users got their accounts hacked due to lack of 2fa security.

But even if their security is top notch, it happened to a lot of traders that kraken has capacity problems when there is a  lot of volatility in the market. That is problem when you want to react quickly to a market change or you want to buy/sell but the exchange is not responding.

Kraken account

Supported Payment Methods

  • Wire Transfer
  • Cryptocurrency

Supported Countries

Kraken offers its services to more than 180 countries worldwide on 4 continents, including Europe, America, Asia, and Australia. There are only a handful of countries that are currently not supported. 

Kraken does not provide services to residents in the following countries:

  • Afghanistan
  • Cuba
  • Guinea-Bissau
  • Iran
  • Iraq
  • Japan
  • North Korea
  • Tajikistan
  • Washington and New York states in the US

FAQ – Frequently asked questions about Kraken


Can you buy bitcoin on Kraken?|Yes, you can buy bitcoin directly on Kraken using bank wire transfers. In order to buy bitcoin on Kraken you need to verify your account first and then you can deposit into your account and place an order for buying bitcoin. Note that bitcoin is represented with XBT symbol on Kraken.
Is Kraken better than Coinbase?|In terms of fees Kraken definitely beats Coinbase. Coinbase charges a flat fee of $1.99 +3.99% for transactions with credit card. In contrast, Kraken only charges 0.26% trading fee for buying bitcoin. Although the fees are better on Kraken you might need to consider other aspects as well: Coinbase is more suitable for beginner users and also allows credit card purchases which are currently not an option on Kraken.
Can a US citizen use Kraken?|Yes, most US citizens can use Kraken as the company has complied with local regulations. Kraken, however, does not provide services to residents of Washington (WA) and New York (NY) states. Additionally, residents of New Hampshire (NH) and Texas (TX) states are not allowed to deposit, hold, trade EUR denominated trading pairs.
Has Kraken been hacked?|No, Kraken hasn’t been hacked so far. Although some individual users reported that their accounts have been compromised due to the lack of 2FA security, in general, the exchange did not suffer any major security breach. Still, Jesse Powell, the CEO of Kraken often warns the public to avoid storing crypto on exchanges.
Who owns Kraken?|Kraken is owned by Payward Inc., a San Fransico based startup, founded by Jesse Powell. Payward Inc. is private company, registered in the United States, California and was founded in 2011. Before founding Kraken, Jesse Powell ran other online businesses in the gaming industry, he is also passionate about art.
Is Kraken good for trading bitcoin?|Yes, Kraken is an exchange where you can trade bitcoin and several other cryptocurrencies. Their fees are reasonably low and you can also try margin trading at Kraken. Currently there are more than 30+ different trading pairs are availabe on Kraken exchange.
How do I withdraw USD from Kraken?|You can withdraw money from Kraken using bank wire transfer only. There are a couple of options you can choose from if you want to withdraw USD from Kraken depending on your geographic location. US clients can opt for ACH and FedWire, while the rest of the world can use SWIFT transfers. The fees vary between 5 USD to 35 USD depending on the amount and the processing time. Note that all first-time deposits go through a temporary 72-hour lockdown period and you can only withdraw funds after that. In order to withdraw funds from Kraken, go to withdraw in your account and select the option you need.
Does Kraken require an ID?|Not necessarily. When registering at Kraken, you need to provide them an email, your full name, date of birth, phone number and physical address, however, for the starter account this information is not verified by documents. You can start using the platform with cryptocurrency deposits right after registration. Although the crypto deposits are unlimited, without an ID verification, you can only withdraw 5000 USD worth of cryptocurrency on a daily basis, and 150 000 USD during a month. There is no option to use Kraken with fiat currency without submitting ID.
How can I get verified on Kraken?|There are two levels of verification available now on Kraken. For the intermediate verification, you need to provide a valid government-issued ID card (like passport, driving license, national identity card) and a proof of residence document aged less than 3 months (this can be a bank statement or utility bill). US clients also need to provide an SSN or an ITIN. In certain countries, you will be also asked to provide a confirmation photo of you holding your ID card. For the highest level of verification, on the pro level beyond the above-listed documents, you will be asked to fill out a KYC questionnaire.
How long does Kraken withdrawals take?|Withdrawal time on Kraken depends on the type of funding method you have chosen. Generally speaking, you should receive your withdrawal within 5 business days. The quickest options are FedWire transfers and SEPA transfers which usually take 0-3 days, while SWIFT transactions can take up to 5 business days to be processed.
Can I short bitcoin on Kraken?|Yes, you can short bitcoin on Kraken, so it is possible to sell bitcoin on Kraken without actually owning it. In the case of an XBT/EUR short position, Kraken sells XBT from their margin pool for EUR on the market. In order to settle this short position, you need to have sufficient XBT on your acount to cover the volume of the order opening.
How do you trade with leverage on Kraken?|You can trade with leverage on Kraken using intermediate and advanced order forms. Note that currently not all supported coins can be traded on margin, only a selected number of cryptocurrencies, including Augur, Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Monero, Ripple and Tether. Margin trading is available against the USD, EUR and XBT and in some cases against ETH. To be able to open a leveraged position, you must hold enough balance on your account to satisfy the margin requirement. Don’t forget that during margin trading you also have to pay the margin rollover fee for open positions beyond the usual trading fees.
What are the fees on Kraken?|Kraken applies a maker-taker fee model, where with the increase in volume the fees are decreasing. The standard maker-taker fee is 0.16%-0.26% up to 50000 USD monthly trading volume. For margin trades, Kraken charges a margin opening fee and a margin rollover fee after every 4 hours when the trade is open. Depending on the chosen payment method, Kraken also charges deposit fees for some type of SWIFT and ACH transfers.
Can you use a credit card to buy bitcoin on Kraken?|No, credit cards are not among the supported methods on Kraken for buying bitcoin. The reason for Kraken not allowing credit card purchases is Kraken does not want to risk any fraudulent deposits coming from unauthorized credit card usage. You can still buy bitcoin using bank wire transfers at Kraken.
[/faq]

Kraken Review Conclusion

The Kraken is a real industry leader, and one of the best bitcoin exchanges today.

Pros

  • Low fees
  • Excellent liquidity in both USD and EUR markets
  • Margin and futures trading supported
  • Only exchange platform selected to support investigation into Mt. Gox’s stolen Bitcoins

Cons

  • Sometimes has uptime problems when market gets hot
  • Verifications take time
  • No credit card deposits or withdrawals

If you’re looking for a safe exchange with low fees (especially if you’re in Europe), then Kraken is an obvious choice. Post your experience with Kraken exchange in the comments, we would love to hear from you.

Go to kraken.com
Share your Experiences about Kraken.com:

166 User-Reviews for Kraken.com
  1. Samuel, 17. April 2018

    Hello Everyone , when it comes to hacks such as bit coin mining, payPal hack , western union flips and others i will only prescribe Crypto Investor for any one because i am a living testimony for his works i just received $50,000.00 USD from his payPal hack . guys mail him now if your looking to get quick cash (cryptoinvestors80@gmail.com) trust me after this you will also have a testimony to share.

  2. WENDY LEE, 15. April 2018

    I had Withdrawal problem from this crypto exchanges,it has caused me a lot of lost, i lost 40 bitcoin first and lost cryptocurrency worth $168000 worth again with bittrex and bitconnect, i was thinking ill probably have to sell my two cars to cut the lose, but an analyst who got into cryptocurrency earlier than I did referred me to riotchargeback,at,tuta.io. while I was sure bent that my money was completely lost, to my almost surprise and shock,I got my bitcoin (money back) . He only charge 10% after recovery ,for me that’s fair enough ,didn’t have to sell my car or anything for that matter.You can thank me later, its really worth a try.best of luck folks.

  3. michael, 12. April 2018

    the support is pretty bad , i cannot trade most times because of some stupid bugs they have.

    waiting in the support queue for 30 mins but i am number 1 in queue position .
    now they dont allow me tgo withdraw some coins

    this trading plattform is a joke

  4. Judi, 6. April 2018

    I was not a careless user. I had a 2f authenticator. My account was hacked for 18,000. Not much to some but all of my life savings.
    I keep being told that it is my email that was hacked. Ok- if my email was hacked ( had a deep scan done and no issues) but even if it was, I had a 2F authenticator. My authenticator is on my cell phone. Someone may have hacked my email, changed my password but how could they have withdrawn funds without the 2f authentictor?
    Waiting for investigation but slow response for such a serious crime.

  5. Jesse, 28. March 2018

    dont put money on that exchange its about to be shut down by the governement. they scam and steal your money, trading platform is full of bugs that will cost you all you have, they dont repair becaus its convienient to steal even more, dont use this

  6. wildcadie, 28. March 2018

    It a scam, dont trade there you will lose your money due to errors in the software. also they are under investigation by the governement and chances they got shut down is big.
    dont put money there

  7. cechetta, 27. March 2018

    total SCAM stay away from kraken

    Open letter to the CEO of kraken Jesse Powel

    WARNING: before reading below letter first read and agree on the disclaimer below this letter! By replying or reacting on this letter you admit that you agreed on the disclaimer.
    Don’t get kraked.
    Jesspow your responsibility is tremendous not only to the customers of kraken but the whole BTC community (and people that got goxed) as you playing with the future of BTC and our money. Knowing and confirmed by yourself that kraken trading platform is full of bugs and errors even beyond repair you still take people’s money and think you going to get away with this, think again.
    You can say that is the costumers own fault, BUT…. There is a side effect!
    The many pending lawsuits against kraken (in silence because of obligated arbitrary procedure) will start to see the light and trigger more alarm bels on the governments side, the risk of being shut down by them is real and plausible. But on the Kraken Titanic, the band keeps playing, refuse to settle the many cases blaming the costumers, and stay open for business even with malfunctioning software bugs.
    You just simply cannot run business earn huge amounts of money without any responsibility or obligations no matter what your disclaimers saying, juridical kraken disclaimer is one sided and UNREASONABLE for customers, it can be annulled before court.
    I lost 25000$ and all claims by now reached to over millions of dollars, not because of bad trades but because of kraken malfunctioning trading platform that should be shut down instantly it is simply not working and you knew it back then and you know it now, but did not inform the users. I tried to settle this but did not get any answers from you nor your “helpdesk” which is not very helpfully at all. I am not the only one in this case and claims reach millions of dollars by now. The plaintiffs filled @ https://www.consumerfinance.gov/complaint/getting-started the government reached unknown limits and kraken is under investigation by them.
    Saying it is the customers fault to trade on kraken in the first place is bad management, you should advertise this on your website, people don’t trade here we only take your money without any responsibility our trading platform is not working and full of error and bugs but we don’t give a ***, we only want your money. Acts like this are the downfall of bitcoin and is why governments want regulations.
    After mtgox BTC was getting tremendous hits and people are turning their back to BTC never to return, soon BTC will be an elite club of big rich owners but there will be no more people that want anything to do with BTC., forget about wide adoption, BTC maybe will survive but It will be on a darkside in illegality run by an elite of criminals and eventually restrictions and regulations will kill it, it will tumble into obscurity and illegality. Some already think BTC is too big to fail, well think again.
    Soon we will see BTC tumble to 2800 $ which is still to high. So it is not bitcoin that failed it are the greedy arrogant people and badly managed exchanges, malfunctioning trading platforms hacks and thefts that killed it.
    One day I was a believer (and I still am in BTC) but it are the malicious exchanges and the people who run them that are responsible for its downfall. So we got goxed, kraked and darksided,
    BTC is on life support and kraken will give it its final blow. I hope everyone get out safely and can go on with normal life without bitcoin. Withdraw your money from these exchanges as they soon all will be shut down by the governments and with good reasons, not because of BTC but because they steal your money..

    Disclaimer: because of a malfunction in my brain I can and shall not be held responsible for what I wrote.

  8. zippy, 14. March 2018

    My experience with Kraken has always been poor at best, Customer service seems to purposely redirect your questions and gives you wrong answers regarding your questions, and just simply closes support tickets without confirming your issue is satisfied. I asked very specific questions they declined to answer and blamed system lag. However my questions cannot be explained with system lag, and their system always seems to “lag” right before a major crash, so trying to prevent being unable to log into my account to sell or buy at important times, the logical thing to do is to set a stop loss, which brings me to the next problems.

    lately I am suspecting that Kraken is using stop losses against its customers and Kraken is in fact primarily trading on their own site with bots as to manipulate your trades against you.

    When I asked if they bot trade on their own platform, the support ticket was simply closed with the explanation: “I do not understand your question.”

    Especially when it comes to stop losses, It never fails that when your stop loss is triggered it will be at the lowest possible sell point, although there were plenty of orders within a few dollars of your set stop loss sell point. Then seemingly like magic the price bumps up 1% higher and won’t budge until you set another stop loss then yes, The orders around it will disappear then they will eat your stop loss again, and all the orders around it return. Must be that system lag, right.

    This is the only exchange I have run into this kind of behavior. I have had stop losses come within cents and not been triggered, however on kraken BTC Price can come withing $100-$200, then all closely priced orders orders disappear, the market depth indicator gets paper thin for a nanosecond, th stop loss is triggered $100 below the set point, then the price bumps right back up and all the orders around the stop loss return with the market depth indicator recovering to similar levels as it was before. Only Kraken would know where the stop loss is placed so this isn’t trader manipulation. Its exchange fraud.

    I have recorded this and sent it in to the FBI, and the S.E.C.

    Both have informed me that they are aware of predatory manipulative behavior in trading like this and they both have active investigations regarding Kraken.

    PS: I forgot to include that this “System Lag” has been blamed since they started the exchange. seems like a pretty handy excuse to me, our system lags, you lose money, we earn money, you cant do anything about it.

  9. Marylyn Adelaide, 8. March 2018

    Total scammers… I have a lot of proof. They tell you a lot of beautiful things until you deposit, then everything change and you lose your money. For example they told me they will give me the commission fees back until i deposit, then i lost all my money only for commissions, nothing about markets. The commissions was more than my total balance only in one trade.
    Then i claim for my commissions back as they promised me and nothing… i have been scammed and i have proofs. Luckily for me came across Geminihacks (dot (com) they helped me recovery everything I lost within 3days, if you’ve lost money to these scammers do contact Geminihacks (dot) (com) they are the best.

  10. Blink, 7. March 2018

    Kraken has denied me access to my account for almost 2 months now. First it was randomly locked and i was told i needed to provide verification in order to have it unlocked. I provided the requested information and have been ignored for the last 5 weeks. I’ve filed complaints with the BBB and FTC. The BBB has come back with no responses from the company. It appears they have stolen approximately $6k worth of crypto. I am now in the process of seeking legal council on the matter. Please let this be a very real warning to anyone considering doing business with them.

  11. emma, 5. March 2018

    BEWARE! Do not use kraken.
    1 Slow to fund accounts with crypto purchases.
    2 Unfriendly staff.
    3 High fees.
    4 Software shuts down at critical times.
    5 Policies geared to make money at your expense not help you make money.

    You’ll lose money faster than you can make it on kraken.

  12. Tom, 1. March 2018

    support is crap, kraken is crap, stay away for the sake of your nerves and remaining years of life.

  13. Alvin C. McDuffie, 27. February 2018

    hello, I want to introduce y’all to an exchange service that pays you fast when you sell bitcoins and any other crypto to them and they pay directly to your bank account at now extra charges

  14. Ali, 15. February 2018

    Kraken is a selfish company. I don’t recommend at all. I lost tons of money because of them. Even I can not access my account over 2 months, they do not respond emails. hopefully they are going to end up in the court soon.

  15. Bill Farmer, 4. February 2018

    Kraken is a scam. They are only out to steal your personal information. They will assist you with account verification only to the point of the “ID verification photo” step, then they will tell you that the photo is “too blurry”, and no matter how many high-res photos you send, they will always say that the photo is “too blurry”. When you ask for further assistance, they will completely ignore you. They are identity thieves.

  16. Paul M., 28. January 2018

    I’d give kraken 0 stars if possible. This is about as close as you can get to. Crypto scam. I deposited money over a month ago and it has not shown up in my account. I’ve now sent three emails that have been ignored. Do not deposit money with this exchange. You have been warned

  17. Red, 28. January 2018

    Kraken seems to have stabilized recently. I would recommend this service again. Though I’m uncomfortable with giving them my social for tier 3… Just really worries me.

  18. Sherry J Mendez, 26. January 2018

    Credible exchange platform to trade bitcoins at furcoins no sign up, no charges, no fees but prompt service delivery and satisfaction

  19. Burned once, 24. January 2018

    Trued signing up under 5 different emails with 5 different names and none of the account verification codes are accepted. This exchange is BS. Stay away. Would never trust them with a dime.

  20. James, 24. January 2018

    January 23 2018. Kraken continues to be a dysfunctional website. Their AccouVerification Codes to sign up don’t work; the “cancellation of account” feature doesn’t work; and getting a response from their so called support is like praying to a sky God for a miracle.

  21. Sean harmon, 22. January 2018

    RE: http://www.Kraken.com , aka Payward at 548 Market Suite #39656, San Fran., 94104-5401, Jesse Powell, CEO.

    Kraken is a BitCoin type currency exchange.

    Kraken has failed to respond to my query as to why they are refusing to release my cash as their site failed to wire my cash wire withdraw. Our bank has confirmed the failure and I have met all Kraken background checks as required.Their behavior is increasingly defensive and sketchy.

    Is it a massive internet embezzlement crime or just a bunch of web geeks who are screwing up programming code?

    Alarmingly, they are continuing to accept funds and trades—they just are not releasing my earnings! They have failed to reply to 5 inquiries over ~ 1 week too. Something is not right.

    They are in violation of their stated policies— this possible internet deception my involve millions of dollars beyond mine.

    Sean Harmon

  22. MM, 22. January 2018

    Absolute Rubbish. Skip this exchange. I am verified in tier 2. Despite that, I can not withdraw small amount of BTC or LTC or any other currency. Basically you can deposit and trade, but you are not allowed to withdraw or send to your another address.

    I get following message:
    This action is not available for tier level 2
    Your current funding tier level (2) is insufficient for this functionality. Please further verify your account to increase your tier level and funding limits.

    Tier 2 facilities are as follows:

    Daily limits Monthly limits Verify Status

    Deposit (fiat) $2,000.00 $10,000.00 Verified
    Deposit (crypto) No limit No limit
    Withdraw (fiat) $2,000.00 $10,000.00
    Withdraw (crypto) $5,000.00 $50,000.00

    So, you can see from above, PLEASE AVOID THESE SCAMMERS !!!

  23. John, 19. January 2018

    one of the worst exchanges I have ever dealt with , the support takes to ever (if they answer at all) to answer. so many glitches for example, U have to confirm the withdrawal, order etc several times to pass through their servers , same goes to cancelling the order . they have stupid verification system that might take forever to get U verified , otherwise U’ll get your hands tied with their limited bloody withdrawals on a daily and monthly basis. the biggest mistake I made in the crypto world was resorting to kraken at some point , it just hindered my progress and made left struggling just to get the hell out of their for good.

  24. Nathalie, 18. January 2018

    I made a 1000 euros transfer on january 3rd, however I forgot to write the reference and I didn’t receive this funding on my account.
    After two weeks and at least ten emails, I have no answer today.
    Unacceptable.

  25. NOT IMPRESSED, 18. January 2018

    KRAKEN is a FULL ON SCAMI am down $27000 due to negligence and Sorry not not Sorry from them!

  26. Alejandra83, 14. January 2018

    Hi to everybody.
    My experience with Kraken is horrible, i don’t recommend at all use that page for trading. That was my experience: I make an account the 26th of December. When you make a new account you have to wait until someone of the support verify your account. At the day of today ( 14th January ), i still waiting for my verification. I been writing at least 4 emails without answer, nobody helps me, nobody matter my situation. And the problem is that i want to trade and buy criptos but i can’t. And the price of it dont stop growing, with the prejudice that that supposes to me. In summary I DONT RECOMMEND KRAKEN FOR TRADING. Better other pages for trading as Plus 500, eTORO or Coinbase.

  27. Janssen, 13. January 2018

    Don’t open an account on kraken.com. Their site is down for more that 2 days now.

  28. Pietro, 10. January 2018

    I sent a deposit on 28 December and i’m still waiting his accreditation. I wrote a lot of mail and only one reply on 7 January “we are working hard for a better service”. Kraken this is a shit service. Time is money. I’m loosing a lot of money. I could’t buy ETH when his price was still low. Kraken website shows always the 502 error and it is impossible to do trading. Bad service Bad support.

  29. Marc Habib, 9. January 2018

    Kraken is pure crap. Bugs all the time, takes ages to do anything. Each page takes 30 seconds to load, it’s like being back in the 90s.

  30. Alejandro Alvarez, 9. January 2018

    I have been attempting to contact support for the past 2 weeks regarding an issue with my account and I have not received any answer. By mistake I pressed a wrong link that locked access to my account. I have even sent proof of identity confirming that I am the owner of the account, however I remain unable to access my account and every time I seek out to support I don’t get any answer.

  31. roman, 7. January 2018

    Better find something else, they always have problems with everything. And they try to cheat users as much as they can, for example if you have BTC funds on Kraken, when BTG fork occurs, you will not receive any BTG, all users BTGs are kept by Kraken, they will not send them to users. They made a statement, that they will not support BTG after actual fork. So in conclusion, I do not recommend this platform at all. My rate 1/5.

  32. Ramon Marrero, 6. January 2018

    I still problem to get funded. I submit the,required paper work like billing receipt, licence and bank statement and they reject all because need to be submitted in specific formal and quality. I take picture with my camera but they do not accept the quality that came out from my Samsung note mobile. Also I convert the document required in PDF and they do not accept either. Is a nightare to get funded. Also try to call them or write to them is also a nightmare. Is better to spent a day in a bank than getting assistance from them. I have about three months trying to go to the paperwork submittal. It is a nightmare and depressed task.

  33. Daniël, 6. January 2018

    I am an old skool Kraken user. Or better said I was.
    Because I am in the Eurozone I got SEPA payouts very fast. Sometimes even the same day and that even from a DE IBAN to an NL IBAN.
    When the site started to lag and I got numerous Cloudflare errors, I started to worry.
    I am a small trader and I hardly manage(d) to trade on Kraken, because of the minimum trade amount.
    Fortunately I managed to get as much of my coins away from there.
    And even though they are cheering on their Twitter timeline, just check the replies to their cheer tweets, I am now avoiding Kraken like the plague.
    There are many open source platforms they could have migrated to, but they hang too much to their own systrm.
    They USED to be good, reliable and fast. They aren’t anymore

    Their slogan is “Sailing the high seas of success”

    They can better change it tp “sailing the rough seas of getting nowhere.

  34. Bjorn, 4. January 2018

    Well, a liability at best, seldom works, actually It has really never “worked” since 6months ago and when I read ppl are having problem like a year back. When it works, withdraw takes like 20min of persistan trying to reload the page, pretty much same with all “feutures” IF it would work it would be a decent site that enables you to trade EUR/BTC. I will never use this site again.

  35. CryptoKing, 4. January 2018

    DO NOT USE KRAKEN! Seriously. Just don’t.
    My account was temporarily suspended for too many login attempts after THEIR servers were overloaded. Now my funds that I transferred there are stuck – I can’t get a response. Notice how on their website they don’t list an address, a phone number or anything.
    If they fix this issue I’ll fix this review but bits beenover a week and my ticket has been escalated and still nothing.
    This is something that would take them literally 30 seconds to fix.

  36. Alvaro, 3. January 2018

    My account has been blocked for several days and I do not have an answer from kraken, I’m losing money, and they do not give me a solution to activate my nose to do so they can respond now.

  37. Chris Daniels, 3. January 2018

    Kraken Stole $25,000 USD for over 3 months. They claimed they sent it back to me but never did. I asked them to look into and it took over 3 months, with dozens of messages. They kept pointing fingers at my bank and finally the found out they “supposedly sent it to the wrong bank account”. I had to threaten them with legal action and lost over $90000 gain. Bitcoin was 4000 when i sent them the money, by the time they settled it into my account, bitcoin was over $15000. Kraken is a piece of crap. Never do business with this shady exchange. Better of with Gemini.

  38. Rick, 2. January 2018

    Very bad! I deposit money but no response, support isn’t working and I am afraid I won’t get my money back. Shame on you Kraken!!!

  39. luca, 29. December 2017

    I confirm that Kraken is in great difficulty and the platform is unusable as well as unreliable, causing waste of time and money. Requests to support have no answer or if they are answered are mockery

  40. Jodan, 29. December 2017

    Awful Awful Awful Awful Awful. I use Yobit.net. I hate coinbase but even that is better than Kraken. Bittrex may be the best but new user registration is temporarily closed.
    I don’t care what exchange you use, just don’t use Kraken! They say they receive your deposit, but it’ll never be available. They are thieves, thieves, thieves!
    If you are a Kraken Admin and want to give me my $ back I may consider retracting this post. But not if I have to wait much longer. F***ing thieves.

  41. Brady, 28. December 2017

    It is garbage. Nothing on the page works, I have not been able to do anything from my account in months. You either get a 502 error or the “Feature Disabled” error for anything you try to do. Cannot even access the verification tab to verify my accounts. And again this is several months of trying. I recommend looking for other exchanges that are actually reliable. I had high hopes, but they fell very short very quickly.

  42. Maxime, 27. December 2017

    I sold my etherium in April 2017 with Kraken and I never received my money. Kraken support tells me that he has changed provider and his unable to give me my money because he can not trace the transaction. SCAM Avoid KRAKEN !!!

  43. 0 Stars for Krackup, 27. December 2017

    Even this site is a scam I tried to leave and negative report and they refused it 6 times.
    They really a the very worst, don’t use their site.

  44. Scam\Kraken, 27. December 2017

    ABOUT KRAKEN- Fraudsters, coin theives, experts at disappearing funds, account freezers, identity theft specialists, and incapable of verifying any human-being ever.

    ABOUT YOU- You will give them high resolution images of both sides of your license and a photo of your full face, a copy of you bank statement and utility bill, your social security number, bank account numbers, email, telephone and address. Then after waiting to be verified for 4-6 weeks you’ll realize there is no telephone number, no address nor legitimate customer support. Just BOTS telling you to wait of send more personal information at all. You will not be verified EVER and will never trade, yet they have more information than on you tha you Mama and a recent full face photo everything needed to recreate your identity and steal every dime you ever owned. You will then file a complaint with the F B I online’s fraud ftc complaint assistant. And then you’ll go pay $200 a year for identity theft protection. Or if you were unlucky enough to have gotten in you’ll be joining the many thousands who have lost every thing they put into their accounts.

  45. /, 23. December 2017

    Absolutely terrible, took me 2 weeks to deposit money which will be put on hold for a week, then I needed additional verification steps to continue while I was already verified to Tier 2 or ask for a refund. I asked for a refund and I still haven’t gotten my refund! Give me my money back Kraken!
    In my experience this is an extended scam, they’re playing the waiting game and see how long it takes for you to give up on your money.

  46. David, 22. December 2017

    it’s been 2 months that I’m waiting for the verification tier2 and tier3. ridiculous.

    I am told to be patient with customer service. I feel more like being silly or stealing my personal information. Yet Kraken is used by many. I’m disappointed.
    Web page laggg also.

  47. eliot, 15. December 2017

    I’ve been trying to withdraw my bitcoins from this company. There is always a problem. I feel this is a company will take more than you make. The fees and the time and the lack of support will let you know that you’re better off somewhere else. I’ve been writing them for a few months now and only get a computerized email response. They wont let me take my bitcoins out. I’m very frustrated and want to go to the offices and see how to fix this.

  48. rpboer, 14. December 2017

    Letter type is unreadable (font color), slow interface. Order do not pass through fast enough. Login is terrible. Layout and logic is far far beyond user friendly. wish I could leave bit login in is a disaster !!! 2 stars max

  49. a Von, 14. December 2017

    I’ve been trying to submit an order for 36 hours now… All have failed. What the actual fuck?

  50. alexander, 14. December 2017

    I am a newbee but wanted to try and I sent 1 bitcoin to Kraken. To try out I first sent 0.1 Bitcoin, this went without a flaw. Then when I wanted to send the other 0.9 Bitcoin I accidentally pressed the wrong button and got a BitcoinCash address instead of the Bitcoin address I needed to use. So I sent Kraken support an email to apologise for my mistake and to ask them to recover my funds. The answer I got was:

    “It isn’t about finding your funds. The funds are held in a wallet that we control. But since you sent assets to the wrong address, there now involves a great deal of work to recover these funds. Kraken doesn’t have the time and resources to devote to every mistake made by our clients. Trust me, there are many of these cases.That being the case, we are not able to assist you with this recovery.”

    So they make it possible for their clients to make these kind of mistakes but they are not willing to recover any funds. When I made the mistake it was a $ 3500,- mistake. Now it is a $ 12,000 mistake and they don’t have the ‘resources’ to do anything??? They can use (part) of my funds to hire someone to do nothing else and still make a healthy return! AND THERE ARE A LOT OF THESE AS YOU CAN READ.

    In short: STAY CLEAR OF THESE SCAMMERS! On their deposit page they warn you for this so they will just keep your money!