BE AWARE OF KRAKEN (review)

[malkotoniki]

Hi guys, just wanted to share my experience thus far with the so-called exchange Kraken.

For those who have tried it, they already know what my main observations are - this exchange SUCKS.
For those who have not tried it yet, please take into consideration this post before doing so.

Deposits: Interestingly, deposits on the Kraken exchange are extremely easy to execute, it is almost like the whole platform is functioning solely to maintain the deposit option.

Trading: Here things get bad... Kraken is extremely laggy and buggy platform. It uses the cryptowat.ch charting platform and executing orders from the latter platform is quite burdensome. Most of the time your orders are loading until you receive message of a particular 'error'.

Withdrawals: Withdrawing from kraken is truly slow and inadequate, so in case you need to withdraw a particular coin from this exchange - equip yourself with some patience and nerves, because you will need them... Most of the time the Funding and Withdraws page is not loading at all. Not only that but the whole platform seems to be extremely laggy when one tries to withdraw his funds. Additionally, even in case you manage to get to the withdraw page of the particular currency you are aiming to transfer, you need to insert a wallet address and approve it from your email, which then turns you again to the extremely burdensome procedure of getting to the withdrawal page. Withdrawal fees are inadequate [0.001 BTC to withdraw (e.g. 0.0005 BTC to withdraw from binance)].

Conclusions: Depositing is extremely easy and simple. Trading is doable, but quite laggy and inefficient. Withdrawals are a real nightmare, which can be handled only via vicious patience to refresh the page 10-15 times until getting to the actual withdrawing page.

Overall, if there is another exchange platform you can use, go for it... Kraken is really bad. Maybe it used to be better before, but nowadays it cannot handle the stream of users, traders, orders, etc. Additionally, withdraw fees for Bitcoin are inadequate.

[MISS_nSTASSY]

You see, everyone around is talking about decentralized exchanges, but nobody wants to join them because of small liqudity of tokens
I think one of dex can replace even such a big ex as kraken. Maybe this is the way they tells you to deposit all to dex

[Welckomtome]

Sorry, but is there any useful information here?
All that is written here is freely available and very easy to find, I went in the hope of learning something new, it did not work

[Docbee]

Sorry, but is there any useful information here?
All that is written here is freely available and very easy to find, I went in the hope of learning something new, it did not work

For me what he posted here am still surprised because i could remember in an ico i participated in people were shouting about kraken as if it is like bittrex i don't know if they have features like auto sell which i have only seen and used on bittrex exchange. I think i need to open an account on their website to see myself if their is something special about this exchange or what happened to you wa just a coincidence.

[iblistenan]

i never use kraken though i use cryptopia, idex, etherdelta binance and mercatox. one trading platform cant be perfect thats why there a lot of them in internet. as long its save i think we good to go and use it.

[braves182]

I just wanted  create the account on days and i think i will have to do it, because some coins i need to buy - there are just on this exchange. I have a lot of patience, because i used one day Novaexchange- it was really HELL! i hope Kraken is not so bad. Kraken fees are equal to Bittrex fees, so no worries for me. After i make a account i will write here my review about this exchange.

[Kraken-Septimus]

We had a major trading engine upgrade in early January and trading has been running very smoothly ever since. If you haven't tried Kraken in a while please drop by! Also, check out our new trading interface at trade.kraken.com.

If you need anything else please drop by our Bitcointalk thread!

[CryptoAlphaStar]

I also hope that Kraken is much better now after the update. It was close to unusable before that. I had money stuck there for weeks before their server could execute a simple order.
Are they Ukrainian or US exchange?

[AravinthP]

thank you dude..appreciate your concern and review.

[Kraken-Septimus]

I also hope that Kraken is much better now after the update. It was close to unusable before that. I had money stuck there for weeks before their server could execute a simple order.
Are they Ukrainian or US exchange?

We are a US based exchange. If you have any issues in the future please drop by our Bitcointalk thread.

thank you dude..appreciate your concern and review.

This is an old review. I'd suggest you drop by Kraken and test the trading for yourself. It's much smoother now. Check out our new trading interface at trade.kraken.com as well.

[PadenoM]

I like Kraken, it is one of the most secure exchange platform, since the maintenance operation, the website is not buggy anymore, it was due to all new people coming in the game. fees are cheap, but I don't which one of then is the cheapest, the only thing I think is negative with Kraken is the fact that they don't have too many tokens choice, I'm in the same since a year and the few token available on Kraken all skyroofed, so I guess crypo available on Kraken are good quality

[mrPix]

I registered there, but after skimming over decided for me not to trade there whatever would happen

[dumplingsandsushi]

It's not just kraken, but a lot of the older exchanges aren't doing so well (poloniex, hitbtc, etc)

Really, it's an anticipated scaling problem.
You need to realize that even though the market has been low the last month, the end of 2017 saw millions of dollars being poured into crypto.
The larger exchanges were hit with serious volume and their tech just couldn't keep up.
This is where a lot of the lag issues come from.

For withdrawals, I see it as pure greed.
Constantly, you hear stories of withdrawals pending forever, some getting "lost" or crazy fees.
A lot of this has been going on for months with no fix ever applied.
At this point, I don't see any reason to use these exchanges anymore.

The only reliable ones for now that I see are the exchanges that don't even deal in fiat.

[Kraken-Septimus]

It's not just kraken, but a lot of the older exchanges aren't doing so well (poloniex, hitbtc, etc)

Really, it's an anticipated scaling problem.

As my previous post has stated, we have overcome our scaling issues. Drop by and check it out for yourself at trade.kraken.com

[boss1dg]

It's not just kraken, but a lot of the older exchanges aren't doing so well (poloniex, hitbtc, etc)

Really, it's an anticipated scaling problem.
You need to realize that even though the market has been low the last month, the end of 2017 saw millions of dollars being poured into crypto.
The larger exchanges were hit with serious volume and their tech just couldn't keep up.
This is where a lot of the lag issues come from.

For withdrawals, I see it as pure greed.
Constantly, you hear stories of withdrawals pending forever, some getting "lost" or crazy fees.
A lot of this has been going on for months with no fix ever applied.
At this point, I don't see any reason to use these exchanges anymore.

The only reliable ones for now that I see are the exchanges that don't even deal in fiat.

you are right , bcoz of large userbase , exchanges are clueless on many issues .
i can list several exchanges name which were so much popular , reliable and fast 5-6 months back - mercatox , coinexchange , hitbtc , etherdelta etc .

only exchanges like binance and bittrex could maintain their services . but still i see a huge empty space for a new exchange which can meet demands and solve these common issues .

[grapedog]

I had a lot of problems when I first got onto Kraken, but I was getting onto Kraken about that same time that millions of other people were trying to join all these exchanges.  It was slow, and I was getting a lot of time-out errors with my browser.

Now, for me at least, I don't have any of those issues.  Works very well now.

I still don't use kraken pretty much at all though anymore because of the lack of variety it offers.  Kucoin, Binanace and Polo are the three I use now.