Bitcoin Forum

Dear all,

I am new to trading and sent a deposit to Kraken. Now, I see it is in status pending and support request does not seem to reac tto my queries.

Is it that their support is just slow or should I start worrying ?

Thanks,

https://np.reddit.com/r/BitcoinMarkets/comments/7eboh7/suggestion_remove_kraken_from_the_header_ticker/dq4egbk/

Straight from the owner and operator. Basically it's temporarily broken under the weight of new users. Next month it's getting addressed. Hang tight.

When it's your first deposit they make some verifications to avoid frauds but after this, all other deposits are credited faster as it is supposed to be. And regarding your ticket, I don't know when you sent it but these days it takes about 3 days to get a reply from them. I know that they are currently busy with the major changes coming in 2 weeks and they are looking to hire over 20 persons to increase the team

it's been "temporarily broken" for about a year now. i left kraken a long time ago. the "victim of our own success" line is bullshit. they got complacent, knowing full well that their trade engine/API was one of the worst in the industry. they decided to add more and more shitcoins instead of dealing with it, putting further strain on their half-dead, constantly-mismatching engine infrastructure.

now the shadiest exchange of all, bitfinex, is adding BTCEUR markets, kicking kraken while they're down.

I'm doing research on trading platform, could you please go a little bit more into details of what is wrong with Kraken's trade engine? Are there any technical reports from other users on that matter?

Seems like being not the best choice then. What's your advice then?  Thanks

Bitstamp.

The trading engine works flawlessly even in times of high volatility. The platform is really reliable and
the API also works great. They spent a lot of time on development and refrained from adding
lots of altcoins like most other exchanges did. Their trading engine is even used as a full stack solution
for the Bitcoin-related services by forex brokers like Swissquote.

The only real reason to use Kraken is if you are completely dependent on one of the more
exotic altcoins that they offer.

I'm struggling to understand if it is a good thing or not.

Thank you all for feedback !

Here is mine in the meantime:

Kraken have replied finally with a ticke tnumber. A piece of advise : if you wire money to theim, make sure that the bank account name matches 100% exactly as the name of identification in the site.

The money has been returned after a few days and now busy creating a corporate account.

They seem busy indeed but definitely honest. After my post I also made lot of reviews. It seems to be among only ones passing financial audits. Which is better assurance for your money.

I think it is possible to argue both positions.

Many altcoin additions to an exchange can be a good thing, because:
-they attract more users
-they offer more profit opportunities due to more available trading pairs
-they increase the profits of the exchange, because of more trades, which equates to more income in trading fees

However, many altcoin additions to an exchange can also be a bad thing, because:
-they often lack real trading volume and therefore are prone to market manipulation
-they clutter the user interface, which makes for a less pleasant trading experience
-they cause unnecessary server load, which decreases the reliability of the platform
for traders of the high volume currency pairs like BTC as well

To sum up, I´m strongly inclined to say that the approach of an exchange like Bitstamp
is superior to the approach by Kraken, Binance and Bittrex that add nearly every shitcoin
under the sun.

We had a major upgrade to our trading engine in early January that has things running much smoother. If you haven't used Kraken in a while we'd suggest stopping by and checking out our new trading interface at trade.kraken.com (http://trade.kraken.com).

If you need anything else please drop by our Bitcointalk thread (https://bitcointalk.org/index.php?topic=290799.0).