Bitcoin Forum

I was just looking for exchanges to buy.

Now I figured https://www.kraken.com/ , but this exchange has 24h volume of just 2.5BTC.

Is this website a scam??

Sincerely,
Supreme Leader of Democratic People's Republic Korea
Kim Jong Un

Yarrr matey that kraken took me favourite booty laden ship to the watery depths of davy jones locker.
See ya at tortuga perhaps...

Yaarrrrr's sincerely

Captain swashbucklin'

No. It's not a scam.

They're just late to the party and getting their name out there. I would use them if they did USD transactions, but I can understand why they don't at the moment.

Our grand overlords here in the States have made it damned difficult.

YOLO
You Only Launch Once

most likely not, they're just wasting time and money. too late to the party

Not a scam.. just new, not many users, not many orders on the books, not many trades.  It's hard building a market from scratch.. it's sort of like building a social network from scratch.. who wants to come to a party nobody is at?  We're in discussions with some market makers now who can help with the liquidity problem.  We didn't expect to have much traction without a market, which is why we haven't put much in to marketing the service yet, but launching without the market has given us a good opportunity to make sure everything is working as it should in production before we take on a ton of users.

Official announcement thread here:  https://bitcointalk.org/index.php?topic=290799.0

I've been using it and so far so good.

always use the most famous trading site and stand out of the new 1

No, MTgox= scam

The most used is not always the best.

Furthermore Kraken.com is associated with Fidor bank so security is not an issue.

any more movement here? i'd like to see more exchanges grow!

No not a scam, been using it quite a bit and it has been working out great for me so far.
XBT/EUR and LTC/EUR seem to have most orders, already made some profit there.

Oh forgot to add that verification was handled extremely fast in comparison to Mt. Gox & Bitstamp

not, I have main admin on my twitter, we chat.

Kraken.com has been working great for me so far: low fees, quick SEPA deposits & withdrawals.
Verification takes a while though, so do this sooner rather than later...

It's been fine for me so far. I like the website and functionality so hope it sticks around.

Since there are folks in this thread who have successfully withdrawn Euros with a SEPA transfer, I hope you don't mind me asking a question here since I can't post anywhere else for now.  How long did it take from the transaction showing as 'success' under 'Recent Withdrawals' to the money showing up in your bank account.  I've been waiting 3 days since it changed from 'sent' to 'success' and I'm starting to worry that something has gone horribly wrong somewhere.  I do have a support ticket, but as I understand it they are swamped with support requests so it might be a few days yet before they can respond to it.  Sorry to hijack a thread but I can't post in any other forums yet and this is starting to stress me out a fair bit.  Not because of the delay, but because it says 'success' and the money isn't in my account.

Give it a little more time, your transaction will either complete, or you'll get a response to your problem ticket and it'll get handled. Like any gold rush, these guys probably weren't expecting the support/transaction demand, late to the game or not.

BTC

Has anyone recently signed up and verified past the scanned documents level?  I'm wondering how long it took.  It's only been 24 hours but I sort of thought it was be a 10 minute process for someone to just look at the scans and check that the info matched.

Is there a posibility to trade with other cybercurrencies that BTC on Kraken.com?

Hope its not

Thanks, I'm hoping this is the case.  I was just hoping that someone might know what the 'Success' status actually means as I'm not sure if it means the transfer has been initiated or if it is supposed to mean the transfer has been carried out as this doesn't appear to be the case.  As you say though I'm sure my support ticket will be dealt with eventually, I'm just trying to see what I can find out in the mean time ^^;

I think it's a real site and it has relationship with a bank (not sure),There are complaints of problems in SEPA currently. I suggest you search for the site topic on here and do some investigations first before using it.

heard nothing bad about it until now. they are new. lets give them a chance (but dont store coins or money there)

I sent 50 LTC to Kraken 48 hours ago. The transaction is showing as on hold in my account and they don't reply to my ticket.

I deposit today 5 BTC and after I can not login. All pass, login + 2 factor OTP is right. WTF?  


UPDATE: after some hours I can login. I do not understand,what it was..

I'm using kraken without any complaints for a few weeks now

I wired €, spent them on different coins as well as some ripples and nothing bad happened so far. No problem with transfers to another wallet either
They're safe

kraken was trading in litecoins before mtgox did, those are getting pricy

Since a few days with Kraken.com so far so good.
Today withdraw of Bitcoin is after a few hours still pending - I mean not pending in the network. It is still pending to payout by Kraken.com

Little bit concerned about that - keep you informed.

Mtgox is the most infamous exchange lol.
Stay away from it.

dont think it is by all the reviews from users above.

I would be careful.  Very, very careful.
They might be well intentioned, but I see absolutely nothing at all on their site about who's behind it.  I mean the legal, verifiable stuff.  Things like trading licenses, where they're incorporated etc.

I doubt they have intent to scam, but I would worry about the realistic prospects of them being shutdown by $gov or $deity and you never seeing your money again.
Many of us thought Bitcoinica was legit too, and it had about as much info on the site as Kraken.  At this moment in time, I expect them to share a similar fate.

If I'm wrong and this stuff is there and posted in accordance with the law then I'll post a retraction, but seriously as much as I want to like these guys they really don't look legit to me.

Jesus, kraken is not a scam, don't be so paranoic ;)

Be careful, Be careful!!!

Here's what just happened to me.  I found this thread by searching google about kraken "acceptable states".


I applied over a week and a half ago to Kraken, got the welcome and confirmation email and didn't read them (never do that).

So then I proceeded to go through the steps quickly to level 1, 2, and 3 verification.  I gave them SSN, addresses, copy of DL, scan of Utility bill, etc...  then, I receive an email back from simply "Pam", no last name etc, stating that some of the information didn't match with what I typed in.  True enough, autocomplete had filled in a wrong address, so I corrected it with Pam, who was cheerful and ready to help.  It took about a week of emailing back and forth, more discussion about my real address in the States etc.  AFTER about a week I get the email again from "Pam" stating congrats I'm verified!  Level 3 Whoopy!  So I say thanks for the help.

Then-
next day I write an email that I'm wiring my first transfer from my US account  amount $8000 approximately.

No response-  not really a problem right?

I wait Friday, Sat, Sunday, Monday, ... then-  I get a response from "Pam" this is what it essentiallly says-  "Unfortunately we don't give more than level 1 Verification (only deposit of virtual currency allowed) to anyone from (your state).  I said that (somewhere buried in) the confirmation email you got.  Do you remember reading that?"

What?  First, my bad for not reading that- it indeed is there- but WHY THE HELL GO THROUGH 8 DAYS OF EMAILING DOCUMENTS AND ID which are CLEARLY from that state???

No response yet.


I'll tell you why-  I hadn't sent the wire yet, but they counted on that I had.  My money would be G, O, N, E.

Folks, she spent a week with me discussing my license, my address in (forbidden state), my DOB, my SSN, etc..  They KNEW I was from that state.  Unfortunately for me I hadn't read the confirmation email. Lesson learned.  The only explanation other than flat-out lameheadedness on "Pam"'s part is this-  they waited several days for me to initiate a wire.  Why?

Hi btc_shell - I assure you that we were not trying to take your money. If you had sent us a bank deposit, it would simply have been returned to you. What you did was to get "pre-verified" for tier 3, so you are ready to go once we offer this level of service in your state. I understand that this isn't what you wanted to do, but other people do want to do this.

I spoke to our verification team about reminding users in states we cannot yet service for bank funding that we can only offer them tier 1 services at the present time and that they are only getting pre-verified. Our verification support staff process very many applications each week, so they are usually just focused on the steps needed to get you through the process. But I've asked them to be more aware of the bigger picture and to point things out to users that they might not be aware of.

When you first create your Kraken account, we send you an email with the subject "Account for Kraken confirmed" that explains what services we can currently offer in your area. Also, when you first log into your account, a message appears that asks you to check your email for an important message we've sent you. So we do make an effort to let our users know right away if we can't offer all our services in their area. But we understand that it's pretty easy to overlook this email, so we'll consider other ways to notify users about any account limits in their area.

Kraken is legit and has been serving the community for a long time now.

most likely not! but you'll never know exactly before trying

Used it a couple of times, all went well.

Use a chinese site, are better ;)

It is not a scam. This company is quite new in the market - it's late in the game, and liquidity and user trust takes a lot of time to build.

It's a new exchange but I would trust it more than any other exchange at the moment but they haven't got the most options available.

Kraken is going to become one of the big players if you ask me.  They just need more volume.

It is not scam for sure, they are just new. I am using their service and no problem happened ever.

To know that site legit or not you can follow these methods given below:
You can read user reviews, problems, their quires, responses and rating about the site in http://webutation.net   

You can also do a whois search in the site WhoisXY.com (http://www.whoisxy.com/)  and know the owner, technical, administrative contact details etc.. you can use the phone number or email id which you get in whois search and try to contact the person and clarify your doubts.

If the site has SSL certificate it is good site for transactions. SSL certificate enabled site looks like https://paypal.com.

A site with SSL simply means the data is encrypted when it is transfered to and from the server.
It doesn't really tell you much if the site is scam or not IMO.

Kraken is scam. They have defrauded me 2436 EUR total. I made 2 transfers over 2 months ago. The receiving bank returned the transfers back due they don't like Bitcoin. After several support tickets and emails, after a month ago i got this response below from Kraken. A month passed, waited weeks and emailed them about the status, and there is no response. Last week i wrote every day, still no response. I believe my money has been defrauded by Kraken. My email wording was very polite and friendly. They simply do not response. I have taken another support ticket, also no response. I don't know what to do else.

Sophia clearly confirms the receipt of both transfer by Fidor bank a month ago. But no funds in my account and NO RESPONSE from Kraken any more.

This is scam. I'll update here if this issue gets resolved.


> ACBER**        03-05-14 12:32:48 +0200        Wire Transfer        EUR 1,147.08
> ACBW5**        02-25-14 10:29:46 +0200        Wire Transfer        EUR 1,289.71
> ----------------------------------------------
>
> Sophia, Apr 14 12:43
>
> Hello,
>
> Apologies for the delay; however, we were awaiting a response from Fidor
Bank.  Fidor Bank has acknowledged that the withdrawals were returned, and
I have requested that they credit your Kraken account with the returned
withdrawals immediately.  I will confirm with you once I
receive an update from the bank.  Thanks so much for your patience as we
work to resolve this issue.
>
> Best,
>
> Sophia
> Kraken Support

I am surprised that fidor returned the funds
Always thought they are btc friendly

Sad to hear that you had such an incident with them, I can tell you that I didn't get a single issue with Kraken so far, but you should be carefull with the amount of money you are transfering from and to your bank unless you have a "professional/commercent license" (name is different in each country), my advise in future to never transfer 1800€+ during a one month periode as your bank has a legal obligation to verify and sent the origin of the transaction to money control organism of your country

Kraken is one of the best exchanges out there in all seriousness

It was Halkbank in TR that rejected and returned those transfers, Fidor received them back as Sophia from Kraken support is saying.

1st transfer of 1147 EUR was made in last week of February, and 2nd was made in 1st week of March (1289 EUR).

I was also thinking like this but since my replies to this support ticket are all ignored since over a month, i have written this issue here to tell about it.
They could at least say like, "please wait we're still awaiting response from Fidor bank" etc, but no response, and i feel and know my money is lost. Who has it ? Fidor ? Kraken ? Halkbank ?

Thank you everyone for your replies.

So the yesterday's baby has become a big brother today. Good :)

If its a small exchange, why bother with it?

Theres many other options like localbitcoins.com or bitstamp, btc-e.

Also btc-e has recently change to accepting debit cards to credit payments.


P.S: Please feed your country and rape less girls.

Please do not stray the topic.

This topic is about Kraken is scam or not.

I had to lose 2436 EUR to find out.

YES. KRAKEN IS SPAM AND FRAUDULENT.

If you don't believe, maybe you too will lose your cash with Kraken.

MtGox was the unsinkable Titanic, right ?

I paid 2436 EUR to tell this truth.

I think this is the problem for Kraken. They request a lot of information and documents and bitcoin users are adverse to that because then they have to give up their anonimity.

Which is 2436€ in less than 2 weeks. while you did the transfer in different calender month, there wasn't a one month period between the two transfers

Just read the 3 pages, as so far I`m getting the notion of everyone stating its a scam.

Some stating its going to be big some day?

My conclusion, would be sticking with bitstamp. And why bother on other exchanges in the 1st place if they only done 2.4 btc in volume.

Update:

Just right now i got a response (remember this is after more than a month delay).

I'm truthful and fair person, so here is the response. I think you all feel that Kraken looks solid.

Still didn't get my funds back though.

=================
Hello,

I'm not actually handling your case, but I can see that it is still unresolved. I'm going to alert the agent who is aware of your case to respond to you as soon as possible with an update. I truly apologize for the long delay here, and I assure you that this delay is not by our choice. We'll get back to you as soon as we can with an update.

Best,

Ulf
Kraken Support

Indeed, it is pretty much the opposite.
Months before mtgox officially went down, people have already suspected mtgox was in big trouble due to the terrible delay in fiat withdrawals and have kept telling others to stay away from mtgox.

Thanks for your alert, and luckily I haven't used Kraken myself.
Sorry to hear your experience, and I hope you can get your money back.

Ok they are at least not cutting all communication with you. And I doubt a business that is doing 100K+ € of business a day will risk bad reputation for 2K€, just keep bothering them so they speed up the process and solve your problem asap

Last response from May 14th:


Yet another week passed, still have no funds returned. I will keep updating, so that you get a real life feedback on this case to decide for yourselves.

thanks for the information, I myself use Kraken for small amounts (I don't own much) but so far it's been all good for me no issues what so ever, but keep a not to my self that in case of such an issue it can become problematic

WOW !!!

I had emailed them again couple hours ago, and now they have DISABLED my account! I can not log in anymore.


Now they come up with this crap nonsense. This is what they came up with as an excuse after 2.5 months delay ? Until then my account was fine and we were waitng for Fidor to release the funds ? Suddenly my account got irregular ? A moron has more fantasy than these idiot's IQ level. "Several weeks" statement is another stupid argument that is fishy. They want to create more time delay to desperately push away my case.

KRAKEN IS FRAUD! They lie from their fuc*ing teeth. They lied and dragged this for 2.5 months.
They couldn't take my 'annoying' questions about the whereabouts of my funds.

They destroyed and erased evidence (transaction ID, amount, dates) by disabling my account. Filthy rats. This is unlawful and criminal behavior.

So, their solution, like any regular stinking dirty thief would do, they lie, steal my money, and lock my account to erase evidence and access to it. In hope that i will shut up and go away.

I have been defrauded and seen they are a scam.

KRAKEN IS SCAM.

BTW, anybody saying, that they did well with Kraken so far, it does nothing to the matter. My case overrules any past normal interaction. I'm mad. I hate it that this happened to me. That i had to fall victim to such idiots. What i did, i made a wire transfer to a bank in another country that hates bitcoins, which i couln't know, which were returned back to Fidor bank, following a long period of lies that my funds are held with Fidor bank, now Kraken claiming they find "irregularities" in my account to have an excuse to destroy evidence of their crime. The only irregularity is in Kraken's confusion, not knowing how to cover it's lies in a universe made of truth.

noone using because too low volume, im using btc-e but bitstamp is not bad either

They better have too low volume, the best would be ZERO volume.

Yes agreed, use btc-e, bitstamp, as long as it's not KRAKEN. But if you want to risk your funds to get stolen, go ahead.

I have also used kraken without any issue's. but the poster above was correct their volume is just too low for it to be effect for my style trading. Your problems are the first I have seen with Kraken and i will be watching to see the results. Please keep us updated.

Steve

No funds returned yet, account still locked. Yet another week passed.

They asked for:
 -  An alternative ID (for example, a passport).
 -  A photo of you holding the original ID used for your initial tier 3

Although it's a ridiculous request and unequal treatment, i have sent to them right after their request.
Again nothing changed and no response.

Current status: They defrauded me 2436 EUR, locked my account, asked for extra ID verification.

Kraken is operating against the European Convention on Human Rights, Protocol to the Convention for the Protection of Human Rights and Fundamental Freedoms, ARTICLE 1, Protection of property:
"Every natural or legal person is entitled to the peaceful enjoyment of his possessions. No one shall be deprived of his possessions except in the public interest and subject to the conditions provided for by law and by the general principles of international law."

I don't care if you say i take a long shot, it's not. My property is withheld without any logical reason for far too long. And suspiciously enough, they lock my account and don't answer on time and delay for several months.

There is nothing unlawful of me sending my funds via wire transfer service of Kraken to a bank, which then returns it (due they don't accept bitcoin related transfers), and after 2.5 months, Kraken decides to lock my account and still withholds my funds. CRIMINAL KRAKEN! KRAKEN IS FRAUD! Their license to operate should be canceled. I did not steal their money. They did it to me. I was urgently needing my funds to do payments, but no, they damage me. Why, because i thought Kraken was trustworthy. All this waste of time, all the emails written, all the stress all these extra requests of them, do you think this is worth my time and my life to waste with ? NO.

KRAKEN = CRIME

I use to use Kraken - never had a problem with them. They are a bit slow though.

Have you done any legal action or at least report the police after the 2.5 months wait?

I don think they are , i see that blockchain offer kraken on deposit .

Why would they be? I use kraken frequently and even though it has a low volume it has been doing everything it is supposed to pretty swift and secure for me.

That comment by bitcoindigi was made in Sept.
At that time, Kraken was very new and a very small exchange. Most people didn't really have much trust in it, and hence we have this thread. ;)

I'm located in Turkey. There is no way to complain through institutions. I would fly over to Germany if it will get necessary.
Only way to get noticed was through this topic in this forum, which i found after i searched the web for "Kraken scam".

After 1 month total silence from Kraken support, they started answering to me again, right after my initial post here.

So i guess this topic makes a difference. Maybe some repliers that say they had no problems with Kraken are trolls ? Who knows.
I'm sorry if i hurt anybody, because you're not a troll and express your genuine opinion. Since Kraken seemingly reads this post, too.

I wait for their next action to find out more about their true intentions. All their moves so far show, they're not innocent. Fact is that i'm still disconnected from my cash since 3.5 months:
- 1st month was lost until local bank here returned funds (return confirmed on 14th April 2014 by Kraken support).
- The next 2 months are lost while Kraken singing the same song: "waiting for Fidor Bank to refund back to my Kraken account".
- The last 2 weeks are after Kraken disabling my account.
Total 3.5 months passed, since 1st wire transfer leaving Kraken in 25th February 2014.

I also start to use this volume is very less and they have some restrictions just because of this peoples not going to this way hope in near future they will develop as good exchange

They don't seem to be a scam but I could be wrong.

This exchange hasn't started and is already my favorite one. Only one thing missing to make this the most epic exchange. A free BTC chat.

I see. I haven't tried Kraken, so I couldn't say if it is working for others.
I hope you can get your money back in the end. Good luck.

I used kraken for the first time today and it went flawlessly.

Finally, I got refunded today. Kraken came up clean and is definitively legit.

Good move, Kraken!

Its legit but the name "kraken" makes me think that when i get there smth evil will happen.  :o

Kraken is legit, and probably one of the best exchanges available. The kraken api is extensive, and the new order has a lot of options in advanced method.

Yes, Kraken asks a lot of information, but that's ok, they need to do that.
Kraken has also been auditted by a 3th party from this forum, everything cleared out.

24-hour volume at the moment is not 2 bitcoin, 24 hour volume is 1287 btc.

So why should it be a scam if the volume is only 2,5BTC in 24h??? I don't understand`?

Probably because it indicates almost no one was using it back then...
When no one is using a service or a product, it is reasonable to think that there must be some problems with it...

Well, 9 months ago in Sept 2013, the 24-hour volume was just 2.5 bitcoin and it is now ~1250 btc (500 times increase for just 9 months).
It is indeed quite interesting to see how much it has grown. :)

I still find the site confusing.

I don't find them as a scam site, also with putting limits, that's a good thing to say they are not here to scam.

Why you feel its confusing site I check them many time and its good site just need some time for understanding and settling all things

Where does it have a list of their most popular trading pairs?

I don't even know what XBT/XDG/XRP/XVN stand for unless I real "Help".

Trust me, I have mad respect for Kraken. But not impressed with some of this layout.

Bullshit.

kraken.com is the biggest EUR market, one of the most well-known, but it has awful API !

Kraken is really good imo, volume could be a little higher tho.

It is now a considerably big exchange, but at the moment the thread was created, it was a very new exchange. (There were just 3 tweets on its twitter page at that time.)

It isn't a scam site. Its better than bitstamp  ;D

Kraken is scam!  I wait my withdraw 2,5 month!


Withdrawal ACBXIHS-SV3RA5-TB3RHJ
Type       Wire Transfer
Date       05-14-14 09:38:31 +0400
Description       VTB 24 (JSC)
Transaction ID       ——
Status       Sent
Amount       €1,340.00
Fee       €40.00

Just write to them and they will solve problem if exists. So far all people in slovenian forum is withdrawing without problems so don't believe that they are scammers and you shouldn't be saying false things.

Of course, I wrote to them many times!
You know what the answer was? "Well, what you want, the banking system so inert, wait a little more" One to one, as Mt Gox year earlier.

And yet:

Bank transfers can not disappear just like that! They are returned to the sender bank after 21 days if payment was in "undefined."
During this time, my money back to you three times already.

I registered but never used it, its a pain in the ass to get verified and gave up. FUck them.

The funny thing is that I was a complete verification of identity (Public Account ID AA70 N84G TCTV IANA ). And paid 40 Euros for "Express transfer of funds." Now 2.5 months waiting for him and listen to stupid excuses technical support, that the banking system is running slow.

In the previous page, there was another user "zgums" who has been waiting for 3.5 months and eventually got his money back.
Don't give up, and good luck. :)

Either a scam or not a sh..y job on kraken's side

I returned to kraken after a year or so. Haven't experienced any problems with them previously. I transferred euros through SEPA to kraken, converted it to BTC, but kraken does not allow to transfer BTC out. The account is verified, no counterclaims or any other reason to withhold the transfer. I wrote to support a couple of times - no response whatsoever. Is it mt.gox history repeating or they are just doing a sloppy job? the amount is not big, but it so annoying when you have to wait for days to transfer bitcoins. International wire transfers are faster these days.

why you resumed this, it is known that right now the situation is vastly different, kraken is a super legit exchange among the big one, and i've done plenty exchanging there without any issue at all

Hi - sorry that you have not yet had a response from support. Support is under heavy load for the past few weeks and response times are slow. If you DM me with your support ticket number I can escalate the ticket for you.

No, it's not. I used this service for small amount transactions before.

I has experience to use kraken exchange service, they are not scam, but is little bit hard to get verified account, you need to verified your account to start trading.

WEIRD Thing just happend!!

My very relevant and "nuanced" input on this topic just got deleted (2 posts) over night on this forum.

Really bad!

Depending on what you see as a SCAM I believe the posts were important and relevant.
As Kraken.com is so so so very slow to the point that in some cases (like mine) I believe you can make a case that it just does not work ( as speed is needed when dealing with CryptoCoin value moving so fast).

When they had told me this upfront clearly on their website (that all communication would go with the speed of horse and carriage) I would not have used it.

Also it feels very dodgy that even on this forum they had my negative feedback removed and/or this forum felt it had to be removed.

My problem has not yet even been solved with EUR 5000 hanging in the Kraken.com system (and nobody telling me what will happen) and me waiting for "verification" since 30 april.

I had some contact through someone of Kraken who was also a member on this forum (who actually did react fast). He promised to escalate my ticket, but lets see what happens. Have not seen the results of that yet.

Will keep you all posted (will start my own website on this if I have to, to do that).

Why does Kraken use a Japanese bank if they are based in San Francisco?

A couple of weeks ago, I wire transferred money to their Japanese bank.  Still have not heard anything from Kraken.  I submitted a ticket on their Support page a few days ago.  Still have not received a reply.

Do other people get this incredibly slow service from Kraken?  Has Kraken taken anyone's money from wire transfer and never credited the sender's account?

Dear Dargo from Kraken:

I wire transferred money to Kraken on May 24st.  I did not hear from your site, so I posted a support request on June 1st.

I still did not hear from your site, so I posted another support request on June 6th.

I still did not hear from your site, so I posted another support request today.

Yesterday, I sent a direct message with my support ticket number to you.  I have not heard back from you so I'm posting this.

What is going on with Kraken?  Does Kraken ignore all of its customers?  Is it going to steal my money?

Where was Kraken founded originally anyways?
Not in the US from what I read before they were out from somewhere else. And definitely not in San Francisco Bay area.
That is for certain. :-\

I posted the following on Kraken's sub-reddit (https://www.reddit.com/r/Kraken/comments/6g2okx/sent_wire_transfer_on_may_24_but_no_response/) on June 9:


Kraken removed my posting.

Is Kraken turning into another Mt. Gox?

Why you guys don't read other people having problems with it and keep on using their service then you post here.

What's the point?

They want your money not you.

Kraken only responds quickly when they want to get all your personal information. You can't fund your account with US dollars unless you are tier 4 verified. To get tire 4 verified you have to send you SSN, copies of passport or driver salience, and signature, account number for wire transfer. They keep emailing you to complete giving all those information till you finished everything. Then your account won't be able to get funded. It will tell you "insufficient documentation" although you are already tier 4 verified. No one ever will respond to your email because "we have changed our rule for response. We no longer respond through email". Maybe they will let you to fund your account right before the market is high enough to crash. Maybe they will never because all they want is your personal data!!!! Their strategy could be that even if they can't make money from running the exchange, at least they get your data, which will be a lot more valuable. This is truly a trap, although it might be a legally registered company. Their goal is to generate data by fooling people who are eager to own/trade cryptocurrencies. Don't be the next victim.

Hello kim why you want war?You use btc?