Kraken Review - Exchange Features, Trading Fees, and Security

[crabby]

Hi Everyone!

We've published a review for Kraken. We'd love to hear your feedback! What exchange do you want us to review next?


https://blog.shrimpy.io/blog/kraken-review-exchange-features-trading-fees-and-security

Thanks,
Shrimpy Team

[dmty.0809]

It's a pity that I left the kraken trade, because for the Kyc system, I have to attach a Current Account (Last 3 Months) if there is no credit card statement and the like. I think the account book is very personal. So I avoided it and moved to binance.

[LeGaulois]

It's a pity that I left the kraken trade, because for the Kyc system, I have to attach a Current Account (Last 3 Months) if there is no credit card statement and the like. I think the account book is very personal. So I avoided it and moved to binance.

I got the same problem. I'm using Kraken for years and was very happy to not have to give any ID proof during all this time. I told to many people to go there. I've been upset with the last change. No choice but I sent all the needed papers. I need at least 1 exchange on which I can rely for a quick bank transfer out, and Kraken is unbeatable for this matter.

[guoyu78]

Hi Everyone!

We've published a review for Kraken. We'd love to hear your feedback! What exchange do you want us to review next?


https://blog.shrimpy.io/blog/kraken-review-exchange-features-trading-fees-and-security

Thanks,
Shrimpy Team

I have always loved kraken because of the dedication off their team to work, and they have tried all their possible best to meet up with the needs and demands of its users and I think newbies will find it very interesting to join kraken community.

But for me, I still prefer to continue with Binance, Binance has not given me any reason to leave them for any other exchange, everything one ever need to trade successfully is all their in Binance, so kraken will be more useful to newbies who are yet to choose any exchange for their trade, but if I find any reason to leave Binance, I think kraken may be my next choice.

[RealMalatesta]

It's a pity that I left the kraken trade, because for the Kyc system, I have to attach a Current Account (Last 3 Months) if there is no credit card statement and the like. I think the account book is very personal. So I avoided it and moved to binance.

These exchanges are getting so annoying with their KYC demand, what has registering on their platform to trade gotten to do with account statement of its users, when they are not banks. This is one of the reasons why this exchange may die soon if they quickly don’t remove that and I wonder who their advisor is.

There are other information that can be very useful to them for KYC but not to the extent of knowing ones bank statement which is quite violating people’s right, imagine such exchange is being developed by a scammer or a fraudsters, this is how the user will get exposed to risk of being defrauded having known the worth of such user.

[butka]

I got the same problem. I'm using Kraken for years and was very happy to not have to give any ID proof during all this time. I told to many people to go there. I've been upset with the last change. No choice but I sent all the needed papers. I need at least 1 exchange on which I can rely for a quick bank transfer out, and Kraken is unbeatable for this matter.

I suppose this applies when you trade bitcoin for fiat, right? What if you traded only crypto? Would KYC be also waiting around the corner if you traded just crypto/crypto pairs?

I really like the Kraken exchange, but all exchanges seem to go in the direction of of asking KYC for everything. This is a disaster, and we really need some decentralized trading platform with good liquidity to replace them all.

[LeGaulois]

I got the same problem. I'm using Kraken for years and was very happy to not have to give any ID proof during all this time. I told to many people to go there. I've been upset with the last change. No choice but I sent all the needed papers. I need at least 1 exchange on which I can rely for a quick bank transfer out, and Kraken is unbeatable for this matter.

I suppose this applies when you trade bitcoin for fiat, right? What if you traded only crypto? Would KYC be also waiting around the corner if you traded just crypto/crypto pairs?

I really like the Kraken exchange, but all exchanges seem to go in the direction of of asking KYC for everything. This is a disaster, and we really need some decentralized trading platform with good liquidity to replace them all.

Yeah, I have no choice because Kraken is the only exchange I deal with fiat. But for someone who isn't interested in trading cryptos to fiat (only crypto to crypto) can use Kraken with no problem.
I had always been surprised by the fact that Kraken never asked for personal information during all these years.
Nowadays we have to say to ourselves that as soon as we want to cashout in a bank we will always need to give our ID proof

[cryptoking1981]

Ive been using kraken for a while.

I Use it because of the options to margin trade Btc, Eth, xrp at 5x leverage.  The information it provides regarding positions as well as having a variety of order types I think is awesome and one of the best.

It is a old school, established exchange with a excellent security record and has good liquidity.

It also allows you to trade euro/usd/yen pairs

Its fee structure is expensive, unless you have achieved a significant trading volume amount which is the only downside for me.

[jostorres]

Hi Everyone!

We've published a review for Kraken. We'd love to hear your feedback! What exchange do you want us to review next?


https://blog.shrimpy.io/blog/kraken-review-exchange-features-trading-fees-and-security

Thanks,
Shrimpy Team

Kraken is a very good exchange  and if you need an exchange  to rely on for security then I will be suggesting that you go for Kraken. Jesse Powell worked for Mt. Gox back then before he decided to create his own exchange with security in mind and since then it has been a success. When I started cryptocurrency trading I started with Kraken and the competition between the exchange and Coinbase was too much then, a lot of people claimed that Coinbase was better. So what I did was create an account on Coinbase and started trading the both of them. I'd say that none of them is better than the other, it all depends on what you're looking for. Though Coinbase is being regulated and that's one thing some crypto users wouldn't like, and the tax thing as well.