[ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH

[btcx]

Hello
Testing, 1, 2, 3...
 

I made a Sepa transfer from my german Bank account to Fidoor last 26th september, and it still has not credited on my kraken account. In the FAQ it says that <1 day to process those deposits...

And the support is closed till monday... let's wait...

 

Bad feelings

Hello!  If it's been that long, something is certainly wrong but I can't help you without at least your public account ID.  Could you please PM me with that?

[arorts]

USD Pairs are now available for trading:  XBT/USD, LTC/USD.

To clarify, this means USD deposits and withdrawals are also available.

I'm not sure that is a wise decision. It's going to be already very hard to get it going with 1 currency I think.

Bitstamp choose to focus on USD only because of this, despite being European. BTC24 already had his EUR being very successful before starting USD.

There is a lot of competition for USD so why would they go to you?

For EUR there is nothing due to BTC24 clampdown. However Bitcoin-Central just opened his doors past week so hence it's going to be hard. But at least you have a chance.

I could be totally wrong, just thinking out loud.

Are you freaking kidding me?? Have you even seen the huge functionality difference between these services? All non-Kraken services look like web pages from the 90's with speed, security elements that suck big time. Kraken is a California company based in Silicon-Valley, they know technology, can attract real talent and have way more features, beautifully designed webpage and tons of trading features unimagined by other players. It's a real, professional company.

As soon as they include California, I'm saying good bye to CampBX, MtGox and other suckers outside the US.

[Sioux]

Its a shame seeing another great exchange like kraken.com
getting closed down.

I really thought it would be a relly nice platform.
But 0,02 BTC total volume in 24 h...

The only negative : - Its based in the USA...

[btcx]

Its a shame seeing another great exchange like kraken.com
getting closed down.

I really thought it would be a relly nice platform.
But 0,02 BTC total volume in 24 h...

The only negative : - Its based in the USA...

We're not closing down but if you want to help, put some orders up!

[Loozik]

Its a shame seeing another great exchange like kraken.com
getting closed down.

They have just started! Give them time to first start crawling, then walking and then running!

I really thought it would be a relly nice platform.

But it is a nice platform! No other exchange gives you ability to have so many order types. Kraken to some extend fuses both the role of an exchange and the role of a broker (with these order types). This is the best platform on the market right now (if it can perform as promised).

The only negative : - Its based in the USA...

1. I too consider the US jurisdiction a negative. People doing business as USA are dangerous lunatics at large.

2. For the same purpose I consider EU jurisdiction (Bitstamp) almost equally unsafe. I live in the so called EU and I will rather open account at BTC-e, Russia than in Bitstamp, the so called EU.

3. Why one exchange thrives under unfavourable (EU) conditions and the other under similarly unfavourable (USA) conditions does not? Just a few ideas:
- Kraken is still in its infancy - it needs time,
- Kraken is busy doing time and cost consuming legal equilibria (reading and understanding phone book-sized legal gibberish is distracting from creative tasks) and can't devote resources to deal with core business,
- the general market is already saturated with exchanges and no other similar ones are needed (Kraken's launch was too late or /and its offer is no much different from what competitors have already been offering),
- Kraken failed to differentiate themselves from other exchanges (having better order types and lower fees might just not be enough to differentiate) or failed to communicate the differentiation.
- the target clients were badly defined (Kraken needs to find a yet unexplored niche within the market and develop from this niche into a general market).

[Allaboutbit]

I think they just need time to let the order book naturally sync itself up to the rest of the market. The platform seems light years ahead of everything else on the market. They also offer leveraged shorts which is huge for price stability in the long run. It's quiet shocking that none of the larger exchanges offer leveraged shorts. I know bitfinex does but the rates that are being charge are absurd.

[Dargo]

Thanks for the support and discussion everyone. As people are saying, it's going to take some time for our market to build up. But this doesn't mean that you can't do anything now. What you can do now is pick some prices you'd like to buy or sell at and put in limit orders. Limit orders may take longer to fill in a low volume market, but they will still fill the same way - i.e. they will only execute at the price you specify (or better). By placing limit orders, you're adding to the order book and helping to build the foundation of the market. If you place a limit order, this will encourage others to place orders ahead of yours, which will help press the bid/ask together and add to the volume.  

[Loozik]

But this doesn't mean that you can't do anything now.

1. All of us already have an account in an exchange. Many of us have accounts at more than one exchange.

2. Opening another account is a masochism unless benefits of having a third account offset the pain of doing the paperwork again (like scanning the recent utility bill, etc).

3. Having your data feed and trading gateway integrated with a decent charting & trading front-end would (in my case) help me doing something... I hope I am not alone in this.

[nitrous]

But this doesn't mean that you can't do anything now.

1. All of us already have an account in an exchange. Many of us have accounts at more than one exchange.

2. Opening another account is a masochism unless benefits of having a third account offset the pain of doing the paperwork again (like scanning the recent utility bill, etc).

3. Having your data feed and trading gateway integrated with a decent charting & trading front-end would (in my case) help me doing something... I hope I am not alone in this.

I think they've already put your metatrader suggestion on the todo list? https://bitcointalk.org/index.php?topic=192104.msg2384456#msg2384456

[rabsie]

Good to see a more modern looking trading platform for bitcoin show up. With crypto-currencies being so new, its ironic its taken so long. I see a bright future here.

[Loozik]

I think they've already put your metatrader suggestion on the todo list? https://bitcointalk.org/index.php?topic=192104.msg2384456#msg2384456

Metatrader is free for end users but very expensive for an exchange / broker (a few hundreds thousand dollars in integration works and license). Surely Kraken can afford it, but at the beginning of their business they might want to try cheaper and better alternatives.

Good to see a more modern looking trading platform for bitcoin show up. With crypto-currencies being so new, its ironic its taken so long.

I am too surprised the level of sophistication in crypto realm is so stone age when it comes to exchanges.

[Dargo]

But this doesn't mean that you can't do anything now.

1. All of us already have an account in an exchange. Many of us have accounts at more than one exchange.

2. Opening another account is a masochism unless benefits of having a third account offset the pain of doing the paperwork again (like scanning the recent utility bill, etc).

3. Having your data feed and trading gateway integrated with a decent charting & trading front-end would (in my case) help me doing something... I hope I am not alone in this.

I hear ya Loozik - nobody is suggesting that people switch exchanges even if they can't personally justify it. I've just had the impression that quite a few people want to get started on our exchange but are unsure how to when there's so little volume. And I'm pointing out that the way to get started is with limit orders. The low volume is a problem for sure, but it's a problem that won't get solved unless more people step up and start placing orders.

We recognize the importance of integrating with a charting/trading platform and it's on our to do list. It's been a back-burner item for a while, so I'll have to talk to the devs and see when we might be able to escalate the priority. As you say above Metatrader is very expensive, so we probably would go with something cheaper to begin with - suggestions are always welcome.

[Sioux]

Its a shame seeing another great exchange like kraken.com
getting closed down.

I really thought it would be a relly nice platform.
But 0,02 BTC total volume in 24 h...

The only negative : - Its based in the USA...

We're not closing down but if you want to help, put some orders up!

I cant cause  my Tier 1 doesnt get fully verified
its always on Pre-Verified

from GERmany

[Loozik]

I hear ya Loozik - nobody is suggesting that people switch exchanges even if they can't personally justify it. I've just had the impression that quite a few people want to get started on our exchange but are unsure how to when there's so little volume. And I'm pointing out that the way to get started is with limit orders. The low volume is a problem for sure, but it's a problem that won't get solved unless more people step up and start placing orders.

Yes, I know.

We recognize the importance of integrating with a charting/trading platform and it's on our to do list. It's been a back-burner item for a while, so I'll have to talk to the devs and see when we might be able to escalate the priority. As you say above Metatrader is very expensive, so we probably would go with something cheaper to begin with - suggestions are always welcome.

Consider these two charting & trading front-ends:

http://www.multicharts.com/   YT video of how it works: http://www.youtube.com/watch?v=Zu_AjBpbjNI (short one) http://www.youtube.com/watch?v=bJmwPEFoVlg (long one)

http://www.ninjatrader.com/   YT video of how it works: http://www.youtube.com/watch?v=oXfD9Ep0WoI (short one) http://www.youtube.com/watch?v=jLBa73Q6v3s (long one)

These front-ends are used by thousands of individual traders, by money managers and hedge funds. Just send e-mails to developers of these softwares and see if they are interested. By integrating with one of these you will get access to many traders.

[Dargo]

Its a shame seeing another great exchange like kraken.com
getting closed down.

I really thought it would be a relly nice platform.
But 0,02 BTC total volume in 24 h...

The only negative : - Its based in the USA...

We're not closing down but if you want to help, put some orders up!

I cant cause  my Tier 1 doesnt get fully verified
its always on Pre-Verified

from GERmany

We don't yet offer our services in Germany, but will soon when we get regulatory clearance. "Pre-Verified" means you've completed the requirements for the verification tier, but we can't yet offer you the services at the tier for regulatory reasons.

Germany is bitcoin friendly, which is great. But unfortunately Germany has some special regulations governing exchange that are slowing us down at the moment. But we're committed to operating in Germany, so it's just a matter of time. 

[xchrix]

thanks kraken!
i confirm that i got a SEPA withdrawal of EUR yesterday on my bank account!

[Dargo]

Hi everyone, welcome back after the great bitcointalk hack of 2013! I hope you've all changed your bitcointalk password and recovery secret. 

If any of you are attending the Money 2020 conference in Las Vegas, we'll have a booth set up, so please look us up and say hello.

[Dargo]

We've added Ven to the digital currencies you can trade on Kraken. The code for Ven is 'XVN'. Here's a press release about it:

http://www.hubculture.com/groups/237/news/654/

[btcx]

Stop by our booth at Money2020!

[xchrix]

wish you good luck at money2020 and hopefully you can convince alot of people with smart money that buying BTC is a great chance