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Author Topic: [ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH  (Read 617142 times)
GhostPlayer
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June 20, 2016, 05:54:38 PM
 #3601

Sure Kraken seems to sometimes be unreliable, however I strongly believe everything will be ok. They always end up fixing their mistakes. That's why I continue to trust Kraken.

 I do too. Still waiting for a reply from them.

 I perfectly assume losses from wrong trading decisions, but it's a hard pill to swallow to have funds there and loose money when the website refuses work. In my case, I've sustained a massive 35 bitcoin loss while logged in, desperately trying to sell, for more than one hour, but the website simply was non-operational. What bugs me double time, is that trading still continued during all this time.

  I'm confident they'll do good by their customers.
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Dargo
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June 20, 2016, 06:05:01 PM
 #3602

and again the site is down!
The first option I get, I will get all of my money away from you.

Every....single....time....BTC (or whatever) makes a big move.... EVERY #&^**&#% TIME!
Get your sh*t together Kraken.

EDIT: and thanks again for making me lose a trade which cost me 110 euro.  Angry

We are still looking into this, but it appears to have been some kind of network issue that affected other sites as well.

https://twitter.com/CaptSpectacular/status/744875641993052160

And it did not affect everyone since many clients were able to access the site without issue. I understand that it's frustrating no matter the cause, but so far it looks like there wasn't much we could do about this particular incident. But as I said we are still looking into it and I'll let you know if the assessment changes.
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June 20, 2016, 06:35:28 PM
 #3603

Hello Darge,

I sent PM to you about my pending fiat deposit a while ago. I would appreciate it if you could check it to resolve the issue soon. Thanks.

Replied to your PM and I've now heard back that your issue was solved ~10 hours ago.
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June 20, 2016, 06:37:23 PM
 #3604

Hi, I've ran into an issue with depositing CAD with Vogogo Interac.
When I arrive the Interac deposit page, no option is visible. The previous are where you select the amount isn't visible, and even the continue button isn't visible. It's not my browser because I've tried 3+ browsers with 3+ devices.

Here is a picture of the problem: [...]
^As you can see from that picture, no form is visible. No submit button, no amount section, nothing.
I also haven't reached any type of limit, so it shouldn't be my account.

I believe this issue has been resolved now - please try again and let me know if you still can't see the form.
malignus
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June 21, 2016, 02:35:10 PM
 #3605

Are there problems with BTC deposits? My transaction got 6 confirmations about 70 minutes ago and is not credited, yet.
However, the deposit overview shows it as "confirming".
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June 21, 2016, 03:39:30 PM
Last edit: June 21, 2016, 04:04:07 PM by Serpens66
 #3606

Are there problems with BTC deposits? My transaction got 6 confirmations about 70 minutes ago and is not credited, yet.
However, the deposit overview shows it as "confirming".
Yes, I already contacted support and they are working on it...

edit:
should be solved now

Mit Cointracking behältst du die Übersicht über all deine Trades und Gewinne. Sogar ein Tool für die Steuer ist dabei Wink                              binance.je als EUR Börse
Testen ist kostenlos und mit dem obigen Link bekommst du 10% Rabatt auf die kostenpflichtigen Pakete. Thread                                        Great Freeware Game: Clonk Rage
Für instant Handel auch am Wochenende bei bitcoin.de sollte man das Fidorkonto verwenden Smiley FAQ Ref-Link: Registrieren
mikesbmw
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June 21, 2016, 04:45:52 PM
 #3607

and again the site is down!
The first option I get, I will get all of my money away from you.

Every....single....time....BTC (or whatever) makes a big move.... EVERY #&^**&#% TIME!
Get your sh*t together Kraken.

EDIT: and thanks again for making me lose a trade which cost me 110 euro.  Angry

We are still looking into this, but it appears to have been some kind of network issue that affected other sites as well.

https://twitter.com/CaptSpectacular/status/744875641993052160

And it did not affect everyone since many clients were able to access the site without issue. I understand that it's frustrating no matter the cause, but so far it looks like there wasn't much we could do about this particular incident. But as I said we are still looking into it and I'll let you know if the assessment changes.
Thanks for replying, but that doesn't get you off the hook.

Why is your site non-responsive (nor via the app) when a crash or spike occurs? Poloniex seems to do just fine on those moments.
Don't you have extra capacity available when needed? It doesn't seem so, since it can take several hours for the problem to be "resolved" (read: when the crash or spike is over and everybody simply gives up).

Going to a different exchange which trades EUR < > XXX is a no-go, so that would mean EUR < > USD (boo!)

NXT: Next Generation of Cryptocurrency http://nxtcrypto.org
NEM:New Economy Movement http://www.ournem.com/
GhostPlayer
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June 21, 2016, 07:26:59 PM
 #3608


 Bitfinex news following similar events to Kraken

 https://www.cryptocoinsnews.com/bitfinex-market-freeze-bitcoin-crashing/

 
Quote
Regulators however have been quick to take punitive action with CFTC fining bitfinex $75,000, just days ago, “for offering illegal off-exchange financed retail commodity transactions and failing to register as a futures commission merchant.” Tackett stated that the latest outage had “[a]bsolutely nothing to do with the CFTC whatsoever. This had to do with a database migration we had been working through.”
bernard75
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June 21, 2016, 09:51:06 PM
 #3609

Thast, like, your opinion, man.
Different states, different "opinions".
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June 21, 2016, 11:22:08 PM
 #3610

Don't know where else to post this. Kraken seems to totally ignore support requests.

I am in Australia. The Kraken bank account form asks for an IBAN number. Australia does not use IBAN. We use SWIFT. As a result I cannot add a bank account for withdrawals.

Please can someone fro Kraken tell me what to do?

Thanks

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June 22, 2016, 11:09:41 AM
 #3611

Hi all,

I'm new to margin trading. I'd like to contrast my calculus to make sure I understand how it works.

Let's assume I have the following money: 1000€
Margin call level: 80%
Rolling fee calculus: 0.01%/4 hours * 24 hours/day * 30 days/month = 1.8% fee/month = 21.6% fee/year

If spend 3000€ using the 5:1 margin, 600€ of my account would be used to buy the position and the remaining 400€ will still be in €. If I buy at price of 600€/BTC, then I'd get 5BTC. So now I have 5BTC and 400€.
My concerns are about margin call level, because if bitcoin price falls and I don't add more money, the position will be automatically closed (liquidated).
To calculate the bitcoin's price at which the margin call level is reached, I've used the following formula, being X the percentage of bitcoin price drop:
(3000 * X) + 400 = 3000 * 0.8 -> X = 0.66
Then I multiply bitcoin's price when buying: 600 * 0.66 = 396€

Assuming after a month, the BTC price has moved to 395€ (or anywhere bellow 396€) the position will be closed automatically and I will lose all of my money, right? Furthermore, I should pay the rolling fee, which would be 600*1.8% = 10.8€. Is this fee also taken into account when calculating bitcoin's price at which the margin call level is reached?

I hope this also helps other users understand how margin trading works!
Dargo
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June 22, 2016, 12:36:31 PM
 #3612

Don't know where else to post this. Kraken seems to totally ignore support requests.

I am in Australia. The Kraken bank account form asks for an IBAN number. Australia does not use IBAN. We use SWIFT. As a result I cannot add a bank account for withdrawals.

Please can someone fro Kraken tell me what to do?

Thanks

Please send me your support ticket # by PM and I'll find an agent to help you.
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June 22, 2016, 12:54:09 PM
 #3613

Don't know where else to post this. Kraken seems to totally ignore support requests.

I am in Australia. The Kraken bank account form asks for an IBAN number. Australia does not use IBAN. We use SWIFT. As a result I cannot add a bank account for withdrawals.

Please can someone fro Kraken tell me what to do?

Thanks

Actually, the EU SEPA and the Australian NPP are "built" on top of SWIFT.
All you need Is the SWIFT/BIC code, which you can find here:
http://www.theswiftcodes.com/australia/
The IBAN is a combination of your banks sort code, BSB and your account number, your bank should provide that.

Unless you want to withdraw 10k+ this is going to be extremely expensive, with Swift, intermediatary and finally conversion charges.
Dargo
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June 22, 2016, 01:17:29 PM
 #3614

Hi all,

I'm new to margin trading. I'd like to contrast my calculus to make sure I understand how it works.

Let's assume I have the following money: 1000€
Margin call level: 80%
Rolling fee calculus: 0.01%/4 hours * 24 hours/day * 30 days/month = 1.8% fee/month = 21.6% fee/year

If spend 3000€ using the 5:1 margin, 600€ of my account would be used to buy the position and the remaining 400€ will still be in €. If I buy at price of 600€/BTC, then I'd get 5BTC. So now I have 5BTC and 400€.
My concerns are about margin call level, because if bitcoin price falls and I don't add more money, the position will be automatically closed (liquidated).
To calculate the bitcoin's price at which the margin call level is reached, I've used the following formula, being X the percentage of bitcoin price drop:
(3000 * X) + 400 = 3000 * 0.8 -> X = 0.66
Then I multiply bitcoin's price when buying: 600 * 0.66 = 396€

Assuming after a month, the BTC price has moved to 395€ (or anywhere bellow 396€) the position will be closed automatically and I will lose all of my money, right? Furthermore, I should pay the rolling fee, which would be 600*1.8% = 10.8€. Is this fee also taken into account when calculating bitcoin's price at which the margin call level is reached?

I hope this also helps other users understand how margin trading works!

You calculated the used margin correctly, but I'm not following the rest of it.

If you open a 3000 EUR long position at 5:1 leverage, the margin used to open the position will be 1/5 of the amount, so 600 EUR (as you say).

Margin level = equity ÷ used margin

When you first open the position, ignoring fees and changes in market price, your margin level would be 1000/600 = 167%

The margin call level is 80% - at this level we send you an email asking you to either close part of your position or add funds to your account in order increase your margin level. Position liquidation is possible at this level at our discretion, but it's not something we'd generally do except in very unusual circumstances. The liquidation level is 40%, which is the level at which positions are automatically liquidated (these % levels, BTW, can change and can be different for different pairs - you can check our fees page for the most up to date information on the margin and liquidation levels for any pair: https://www.kraken.com/help/fees.)

How much could your position lose before margin call (ignoring fees)?

(1000 - X)/600 = 80% ---> X = 520 EUR

How much of a drop in price would this correspond to?

3000*X = 520 ---> X = 17.3% (then if price was at 600 EUR when you opened the position, margin call would be at 496.2 EUR)

How much could your position lose before liquidation (ignoring fees)?

(1000 - X)/600 = 40% ---> X = 760 EUR

How much of a drop in price would this correspond to?

3000*X = 760 ---> X = 25.3% (then if price was at 600 EUR when you opened the position, liquidation would be at 448.2 EUR)

I've ignored trade fees and rollover fees above, but these do matter because they reduce your account equity.

If you haven't done so already, I highly recommend that you read our trading guide, especially the section on margin trading where all of this is explained:

https://support.kraken.com/hc/sections/200560633-Leverage-and-Margin

Hope this helps!

Dargo
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June 22, 2016, 01:44:38 PM
 #3615

and again the site is down!
The first option I get, I will get all of my money away from you.

Every....single....time....BTC (or whatever) makes a big move.... EVERY #&^**&#% TIME!
Get your sh*t together Kraken.

EDIT: and thanks again for making me lose a trade which cost me 110 euro.  Angry

We are still looking into this, but it appears to have been some kind of network issue that affected other sites as well.

https://twitter.com/CaptSpectacular/status/744875641993052160

And it did not affect everyone since many clients were able to access the site without issue. I understand that it's frustrating no matter the cause, but so far it looks like there wasn't much we could do about this particular incident. But as I said we are still looking into it and I'll let you know if the assessment changes.
Thanks for replying, but that doesn't get you off the hook.

Why is your site non-responsive (nor via the app) when a crash or spike occurs? Poloniex seems to do just fine on those moments.
Don't you have extra capacity available when needed? It doesn't seem so, since it can take several hours for the problem to be "resolved" (read: when the crash or spike is over and everybody simply gives up).

Going to a different exchange which trades EUR < > XXX is a no-go, so that would mean EUR < > USD (boo!)


I didn't mean to suggest that we are "off the hook" for all issues in connecting to the site. But sometimes the problem can be a network issue that has nothing to do with our capacity and is beyond our control. It appears that the incident you complained about in your first message above was in fact a network issue.

As for our capacity, we are working to improve it, but this isn't something that can be done quickly (it's not as simple as just adding more servers or something like that). We have already done many things over the past 4 months or so to improve capacity and continue to make improvements. One thing we are currently working on that will improve site responsiveness is websockets. I don't know when this project will be finished, but it is a top priority. 
worjary
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June 22, 2016, 02:51:24 PM
 #3616

Hi all,

I'm new to margin trading. I'd like to contrast my calculus to make sure I understand how it works.

Let's assume I have the following money: 1000€
Margin call level: 80%
Rolling fee calculus: 0.01%/4 hours * 24 hours/day * 30 days/month = 1.8% fee/month = 21.6% fee/year

If spend 3000€ using the 5:1 margin, 600€ of my account would be used to buy the position and the remaining 400€ will still be in €. If I buy at price of 600€/BTC, then I'd get 5BTC. So now I have 5BTC and 400€.
My concerns are about margin call level, because if bitcoin price falls and I don't add more money, the position will be automatically closed (liquidated).
To calculate the bitcoin's price at which the margin call level is reached, I've used the following formula, being X the percentage of bitcoin price drop:
(3000 * X) + 400 = 3000 * 0.8 -> X = 0.66
Then I multiply bitcoin's price when buying: 600 * 0.66 = 396€

Assuming after a month, the BTC price has moved to 395€ (or anywhere bellow 396€) the position will be closed automatically and I will lose all of my money, right? Furthermore, I should pay the rolling fee, which would be 600*1.8% = 10.8€. Is this fee also taken into account when calculating bitcoin's price at which the margin call level is reached?

I hope this also helps other users understand how margin trading works!

You calculated the used margin correctly, but I'm not following the rest of it.

If you open a 3000 EUR long position at 5:1 leverage, the margin used to open the position will be 1/5 of the amount, so 600 EUR (as you say).

Margin level = equity ÷ used margin

When you first open the position, ignoring fees and changes in market price, your margin level would be 1000/600 = 167%

The margin call level is 80% - at this level we send you an email asking you to either close part of your position or add funds to your account in order increase your margin level. Position liquidation is possible at this level at our discretion, but it's not something we'd generally do except in very unusual circumstances. The liquidation level is 40%, which is the level at which positions are automatically liquidated (these % levels, BTW, can change and can be different for different pairs - you can check our fees page for the most up to date information on the margin and liquidation levels for any pair: https://www.kraken.com/help/fees.)

How much could your position lose before margin call (ignoring fees)?

(1000 - X)/600 = 80% ---> X = 520 EUR

How much of a drop in price would this correspond to?

3000*X = 520 ---> X = 17.3% (then if price was at 600 EUR when you opened the position, margin call would be at 496.2 EUR)

How much could your position lose before liquidation (ignoring fees)?

(1000 - X)/600 = 40% ---> X = 760 EUR

How much of a drop in price would this correspond to?

3000*X = 760 ---> X = 25.3% (then if price was at 600 EUR when you opened the position, liquidation would be at 448.2 EUR)

I've ignored trade fees and rollover fees above, but these do matter because they reduce your account equity.

If you haven't done so already, I highly recommend that you read our trading guide, especially the section on margin trading where all of this is explained:

https://support.kraken.com/hc/sections/200560633-Leverage-and-Margin

Hope this helps!



Thank you for your precise and quick answer! It helped me a lot and now the numbers make sense  Cheesy. I had already read the trading guide but couldn't find any example.

To be clear... All the charged fees are only applied to the margin (600€) used and not to the position (3000€), right?
Dargo
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June 22, 2016, 04:20:21 PM
 #3617

Hi all,

I'm new to margin trading. I'd like to contrast my calculus to make sure I understand how it works.

Let's assume I have the following money: 1000€
Margin call level: 80%
Rolling fee calculus: 0.01%/4 hours * 24 hours/day * 30 days/month = 1.8% fee/month = 21.6% fee/year

If spend 3000€ using the 5:1 margin, 600€ of my account would be used to buy the position and the remaining 400€ will still be in €. If I buy at price of 600€/BTC, then I'd get 5BTC. So now I have 5BTC and 400€.
My concerns are about margin call level, because if bitcoin price falls and I don't add more money, the position will be automatically closed (liquidated).
To calculate the bitcoin's price at which the margin call level is reached, I've used the following formula, being X the percentage of bitcoin price drop:
(3000 * X) + 400 = 3000 * 0.8 -> X = 0.66
Then I multiply bitcoin's price when buying: 600 * 0.66 = 396€

Assuming after a month, the BTC price has moved to 395€ (or anywhere bellow 396€) the position will be closed automatically and I will lose all of my money, right? Furthermore, I should pay the rolling fee, which would be 600*1.8% = 10.8€. Is this fee also taken into account when calculating bitcoin's price at which the margin call level is reached?

I hope this also helps other users understand how margin trading works!

You calculated the used margin correctly, but I'm not following the rest of it.

If you open a 3000 EUR long position at 5:1 leverage, the margin used to open the position will be 1/5 of the amount, so 600 EUR (as you say).

Margin level = equity ÷ used margin

When you first open the position, ignoring fees and changes in market price, your margin level would be 1000/600 = 167%

The margin call level is 80% - at this level we send you an email asking you to either close part of your position or add funds to your account in order increase your margin level. Position liquidation is possible at this level at our discretion, but it's not something we'd generally do except in very unusual circumstances. The liquidation level is 40%, which is the level at which positions are automatically liquidated (these % levels, BTW, can change and can be different for different pairs - you can check our fees page for the most up to date information on the margin and liquidation levels for any pair: https://www.kraken.com/help/fees.)

How much could your position lose before margin call (ignoring fees)?

(1000 - X)/600 = 80% ---> X = 520 EUR

How much of a drop in price would this correspond to?

3000*X = 520 ---> X = 17.3% (then if price was at 600 EUR when you opened the position, margin call would be at 496.2 EUR)

How much could your position lose before liquidation (ignoring fees)?

(1000 - X)/600 = 40% ---> X = 760 EUR

How much of a drop in price would this correspond to?

3000*X = 760 ---> X = 25.3% (then if price was at 600 EUR when you opened the position, liquidation would be at 448.2 EUR)

I've ignored trade fees and rollover fees above, but these do matter because they reduce your account equity.

If you haven't done so already, I highly recommend that you read our trading guide, especially the section on margin trading where all of this is explained:

https://support.kraken.com/hc/sections/200560633-Leverage-and-Margin

Hope this helps!



Thank you for your precise and quick answer! It helped me a lot and now the numbers make sense  Cheesy. I had already read the trading guide but couldn't find any example.

To be clear... All the charged fees are only applied to the margin (600€) used and not to the position (3000€), right?

Glad it helped - all the fees would apply to the full amount of the position (3000 EUR). A margin position is just a spot trade executed through an advance financed by Kraken, so you pay the trade fees on the spot trade and you pay the rollover fees on the advance, which is the full amount of the position. The 600 EUR is not what you are advanced but rather the amount set aside in your account as a kind of "collateral" for the position (so this amount would not be available for making more orders).
worjary
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June 22, 2016, 04:25:43 PM
 #3618

Hi all,

I'm new to margin trading. I'd like to contrast my calculus to make sure I understand how it works.

Let's assume I have the following money: 1000€
Margin call level: 80%
Rolling fee calculus: 0.01%/4 hours * 24 hours/day * 30 days/month = 1.8% fee/month = 21.6% fee/year

If spend 3000€ using the 5:1 margin, 600€ of my account would be used to buy the position and the remaining 400€ will still be in €. If I buy at price of 600€/BTC, then I'd get 5BTC. So now I have 5BTC and 400€.
My concerns are about margin call level, because if bitcoin price falls and I don't add more money, the position will be automatically closed (liquidated).
To calculate the bitcoin's price at which the margin call level is reached, I've used the following formula, being X the percentage of bitcoin price drop:
(3000 * X) + 400 = 3000 * 0.8 -> X = 0.66
Then I multiply bitcoin's price when buying: 600 * 0.66 = 396€

Assuming after a month, the BTC price has moved to 395€ (or anywhere bellow 396€) the position will be closed automatically and I will lose all of my money, right? Furthermore, I should pay the rolling fee, which would be 600*1.8% = 10.8€. Is this fee also taken into account when calculating bitcoin's price at which the margin call level is reached?

I hope this also helps other users understand how margin trading works!

You calculated the used margin correctly, but I'm not following the rest of it.

If you open a 3000 EUR long position at 5:1 leverage, the margin used to open the position will be 1/5 of the amount, so 600 EUR (as you say).

Margin level = equity ÷ used margin

When you first open the position, ignoring fees and changes in market price, your margin level would be 1000/600 = 167%

The margin call level is 80% - at this level we send you an email asking you to either close part of your position or add funds to your account in order increase your margin level. Position liquidation is possible at this level at our discretion, but it's not something we'd generally do except in very unusual circumstances. The liquidation level is 40%, which is the level at which positions are automatically liquidated (these % levels, BTW, can change and can be different for different pairs - you can check our fees page for the most up to date information on the margin and liquidation levels for any pair: https://www.kraken.com/help/fees.)

How much could your position lose before margin call (ignoring fees)?

(1000 - X)/600 = 80% ---> X = 520 EUR

How much of a drop in price would this correspond to?

3000*X = 520 ---> X = 17.3% (then if price was at 600 EUR when you opened the position, margin call would be at 496.2 EUR)

How much could your position lose before liquidation (ignoring fees)?

(1000 - X)/600 = 40% ---> X = 760 EUR

How much of a drop in price would this correspond to?

3000*X = 760 ---> X = 25.3% (then if price was at 600 EUR when you opened the position, liquidation would be at 448.2 EUR)

I've ignored trade fees and rollover fees above, but these do matter because they reduce your account equity.

If you haven't done so already, I highly recommend that you read our trading guide, especially the section on margin trading where all of this is explained:

https://support.kraken.com/hc/sections/200560633-Leverage-and-Margin

Hope this helps!



Thank you for your precise and quick answer! It helped me a lot and now the numbers make sense  Cheesy. I had already read the trading guide but couldn't find any example.

To be clear... All the charged fees are only applied to the margin (600€) used and not to the position (3000€), right?

Glad it helped - all the fees would apply to the full amount of the position (3000 EUR). A margin position is just a spot trade executed through an advance financed by Kraken, so you pay the trade fees on the spot trade and you pay the rollover fees on the advance, which is the full amount of the position. The 600 EUR is not what you are advanced but rather the amount set aside in your account as a kind of "collateral" for the position (so this amount would not be available for making more orders).

Thank you once again Dargo  Smiley
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June 23, 2016, 04:13:48 AM
 #3619

Don't know where else to post this. Kraken seems to totally ignore support requests.

I am in Australia. The Kraken bank account form asks for an IBAN number. Australia does not use IBAN. We use SWIFT. As a result I cannot add a bank account for withdrawals.

Please can someone fro Kraken tell me what to do?

Thanks

Actually, the EU SEPA and the Australian NPP are "built" on top of SWIFT.
All you need Is the SWIFT/BIC code, which you can find here:
http://www.theswiftcodes.com/australia/
The IBAN is a combination of your banks sort code, BSB and your account number, your bank should provide that.

Unless you want to withdraw 10k+ this is going to be extremely expensive, with Swift, intermediatary and finally conversion charges.

Technically speaking, yes.

Practically speaking. no.

The local settling banks are not equipped to process inward payments into Australia on an IBAN.

I have tried this in the past (with two local banks) and it is not advisable.

The Australian banking system is set up to use a SWIFT code and a bank account number. It is not equipped to deconstruct an IBAN.



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June 26, 2016, 10:11:11 AM
 #3620

I sent $1500 to Kraken and I have done transfers before with no issues but now after sending a large amount it has not hit my account, I contact support weeks ago and have had no reply at all. I rang my bank and they can't do anything and I have no idea where to go from here... does anyone have any advice? Ticket ID is #113184
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