Bitcoin Forum

With all the problems most of the few major exchanges are experiences why kraken isn't getting much traction?
From what I've read they are legit and well funded UK based exchange, so should be all good.
Or I'm missing something here?

They need to promoted, not allot of people hear of them.  Also its Trust,  Bitstamp, BTC-e, OkCoin, BTCChina, Huobi, and  the Ponzi scheme Mt.Gox, are had been promoted or are old, ones of the first to come out.

I just join them and its seems some good exchange hope soon they will do some marketing and have some good value in this field

Uhm not quite..

They are US based but have found a bank in Germany(Fidor Bank) that will do all of their banking transactions of fiat currency.
Due to licensing issues in the US, most of their customers are in europe and that's why the XBT/EUR volume is bigger than XBT/USD.

I also love this exchange. They run it very professional and deposit/withdrawals work with SEPA(european banking system) which makes it quite reliable and fast.
They have some nice advanced trading options and leveraged trading is prepared in the system and will be enabled when the volume is big enough.

They once stated that they do not advertise on purpose so they can grow steadily without growing pains that come with advertising and new customers.

new customers are growing pains?  How else do they expect to grow?  Doesnt seem like a very good business model.

On other exchanges we have seen that they had/have a very hard time to cope with a sudden increase of new customers, all demanding personal service, having problems, server load, etc. From what I heard and have seen, their customer base is still growing fast already.. Kraken wants to prevent 'growing pains' and deliver good service and that's why they don't advertise yet.

I find that a very acceptable business model: service first and then grow together with the available resources.

They are not UK-based. They are a US company. Also, it doesn't serve (most) US-based customers, which is a lot of traders. That said, they are great and I love them. Also note that most of the volume is on the BTC/EUR market.

And they need to get a real address in the US, not the same drop box place Tradehill used.

bad marketing the sole reason for this...

Honestly... I can't take them seriously because of their name.

The current addresses for the two companies are not the same.  Do you have any proof that one of them had have the same dropbox address as that is currently in use by either of the two?

I am asking solidify my strong suspicion that tradehill and kraken are basically being run by the same people (scammers).  Tradehill still owes me a significant amount of btc that could worth 6 figures at the current prices.
 

Month ago i had bitstamp.net and kraken.com as option to withdraw. i choose kraken.com because one dude from my country (SLO) said, they process withdraw in 24 hrs, although price is smaller than bitstamp, i withdrawed 5 times now, every time the money was in less than 24 hours in bank.

that's really good! From which country they send the wires?

Germany.

Kraken API does not seem to give a way to withdrawal BTC...

Also for some reason "XBT" angers me

Safety reasons. Why would you want to withdraw with the API? BTC-e is also unable to withdraw with the API.

XBT = iso notation. All exchanges should use this IMHO.

If you are using the exchange for business (ie Bitcoin ATM, bitcoin OTC services etc...)

Kraken is good.
https://www.fybse.se/ (https://www.fybse.se/) is really good too. If you live in Sweden the money is in your account the next day! You can make international withdrawals too

Interestingly enough, when creating an API key, there is a checkbox to (dis)allow withdrawal of funds using that key. So at some stage in the development, API-withdrawals were planned (and maybe they still are).

Yeah I just signed up and noticed this...but does not seem to be any mention of it in the API docs.

Send them an email explaining the reason why you want it enabled? Your reason stated above seems valid and maybe they already implemented it..

Testing them since some weeks and I'm enjoying interfaces, clear services/explanations/FAQ about services and fees, quick deposit/withdraws.

They just need to be promoted but I guess their only "problem" is they are far more attractive for EU residants (using SEPA/euros) than US $ guys.

K, Done...i'll post back on what their customer support is like.

Obviously there is also the problem with the order book being extremely slim.  20BTC will take the price from $670 to $820...that's pretty crazy.  But obviously as they get more customers that will improve.

Slowish, but effective is my experience.

USD markets are like that on Kraken. Kraken is currently mostly used by Europeans.

Doesn't seem to be in the standard.

From Wikipedia (http://en.wikipedia.org/wiki/ISO_4217#Unofficial_currency_codes):
Also xe.com (http://www.xe.com/iso4217.php#X) doesn't list it in ISO 4217:2008.


It's just mimicking ISO, from what I can tell it's just a way to appear fancier in the financial world but BTC has been well established since long.
Also BTC sounds better.

Despite me asking Kraken do not provide a clear list of countries they are allowed to legally operate in

It is a currency that is not associated with a country(like XAG/XAU) and therefore uses an X as prefix.

It can be found on XE under the same name:
http://www.xe.com/currency/xbt-bitcoin

Not in the standard but following the standard, which is good.

ORLY, the 2008 version doesn't list something that was released in 2009?! Wow!

Anyways, XBT is the only currency symbol that even remotely could potentially be accepted by ISO (or rather the bank that overlooks this list).

I tried to sign up today, I thought I would check them out as another place to do a little day trading.  I tried to verify to their "tier 1" which is basically only crypto deposits/withdrawals and they sent me an email saying I have to verify to "tier 3" including sending a whole bunch of documentation.  Fuck them.

Also what's this "Pre-verified"...i completed the first two tiers of verification and shows as "Pre-verified", but I still can deposit or withdrawal....

their market is no deep, they might need to make arb bot to other exchanges to create volume or use their fund to make up orderbook, or even make fake one, or even make fake volume, pretty sure many big exchanges did these at some points

 ;D ;D ;D
You totally got him :)

Pre-verified means that your account is verified, but that the particular verification-tier isn't available for your country/state yet. You'll be upgraded to normal verified status when that changes.

Because they switched to the new Bitcoin-Central (https://bitcoin-central.net):

- 100% cold storage (lessons learned from operating an exchange since 2010)

- partner with a licensed payment Insitution (no asset-free risk: euros are deposited to a payment account belonging to you, not to the exchange)

- account verification completed in two days (if documents are OK, from a week or so when the initial queue had to be dealt with by our new banking partner)

- bank wires sent from France the next day.

You are welcome to contact me at support at bitcoin-central.net if questions.

Pierre

And once again no list is provided of what countries are covered

What is the point of verification if it achieves nothing, in fact all you are doing is uploading enough private documents for them to commit identity fraud, and what do you get in return? nothing

How hard is it for Kraken to provide a list of support countries?

good, we need more exchanges
when was this one started? daily volume?

Cash withdrawal came! Problem can be considered solved!




Withdrawal ACD4BSP-EEOLZW-U6ZJAJ
Type       Wire Transfer
Date       04-30-14 23:17:49 +0400

UK-Based?

Think they are a USA registered MSB, Based in San Fransisco and a German Banking partner?

http://www.youtube.com/watch?v=gCQXSqmugtE

Does they need IDs and other Documents?