What do people think of Kraken

[btc78]

Alright, understood. Thank you guys. So basically I might have fallen for the same kind of stuff you see in YouTube comments nowadays. What I do wonder then though is why quite a few of those reviews give transaction IDs. Or do you suppose those are fake as well?

If you can't trust Trustpilot reviews, then how are you realistically supposed to come to a conclusion about whether a business is trustworthy or not? I'm not just talking about the crypto space, but other online shops and so on.

There are lots of review sites that we can check and use but not trustpilot , while you ask this then let me ask you also , "Why did you just created such thread when you are lack of knowledge about it"? same question as you delivered here .

and how we conclude the business is legit and trustworthy? it is because we have used them and yes we did not experience big problems.

and about ID's , people nowadays can provide everything you need so care nothing about those ID's because many of those are also fake not unless there are true transaction flows.

[devil-soul]

Kraken was one of the first exchanges that operated in the crypto sector, it was almost a point of reference but then slowly it was overtaken by others. Its graphics have not been updated. It appears old and therefore the site is also slow. Then they didn't expand the features like more exchanging pairs then the mandatory KYC give them the final blow

[TelolettOm]

Hi,
go to Trustpilot and look up the customer reviews for Kraken, then check out the 1 star ratings. There is a flood of them complaining about having their accounts closed for not apparent reason.
Now I am not sure if those reviews might possibly be fake, or written by bots. At the same time it does seem really concerning. What is your opinion on it. Does Kraken maybe have issues that are brewing in the background, and would it be wise to not use them anymore?

Whatever the exchange, there will definitely be some people who have felt disappointed or experienced difficulties on the exchange. And not just Kraken. But this is only a small handful. Moreover, it is trustpilot, never trust on that site. You can even find very good reviews on scam projects or scam platforms there. So, don't believe it.

What is certain is that Kraken is one of the top crypto exchanges in the world. In fact, it is currently in the top 3.
https://coinmarketcap.com/rankings/exchanges/
They may have problems with some people, but generally speaking, Kraken usually resolves problems correctly and promptly. I'm sure there is a reason why their account was suspended or closed and it's impossible if there is no reason.

[mich]

Well I have a account at Kraken but I do not use it so much these days that much. I do like the security features it has, and it does have some lower fees then other crypto exchanges.

I did learn it will now start to give out 42,000 usesr data to the IRS. It is for users that have $20,000 in their transactions from 2016 and 2020.

https://finance.yahoo.com/news/crypto-exchange-kraken-start-sharing-065202078.html

[oktana]

Hi,
go to Trustpilot and look up the customer reviews for Kraken, then check out the 1 star ratings. There is a flood of them complaining about having their accounts closed for not apparent reason.
Now I am not sure if those reviews might possibly be fake, or written by bots. At the same time it does seem really concerning. What is your opinion on it. Does Kraken maybe have issues that are brewing in the background, and would it be wise to not use them anymore?
Generally I've mostly read good opinions on them, they are often brought up when the subject is trustworthy exchanges. I just didn't know what to think about that absurd amount of negative reviews, and something seems fishy about it.

First, when you build something, people are always going to complain and make an issue out of one thing or the other. People complained and rated X (twitter) 1 star, Threads got created and they got 1 star from some users, Binance which happens to be the world's leading crypto exchange platform has a lot of 1 star rating. Secondly, it could end up being that some folks just want to bring them down, because I truly do not understand how 63% of their rating on Trustpilot is 1 star while other platforms think highly of them with 4.5 - 5 star ratings. It could be bots but most likely triggered by an angry fellow. I'm saying this because I've actually witnessed a few projects go through such.

[Belarge]

Hi,
go to Trustpilot and look up the customer reviews for Kraken, then check out the 1 star ratings. There is a flood of them complaining about having their accounts closed for not apparent reason.
Now I am not sure if those reviews might possibly be fake, or written by bots. At the same time it does seem really concerning. What is your opinion on it. Does Kraken maybe have issues that are brewing in the background, and would it be wise to not use them anymore?
Generally I've mostly read good opinions on them, they are often brought up when the subject is trustworthy exchanges. I just didn't know what to think about that absurd amount of negative reviews, and something seems fishy about it.

Just passed through the reviews, I've come across both positive and negative comments, but we shouldn't believed everything negative that's been stated out about Kraken, also we should not believe every positive comments, these are made just to boosts the enhancement and popularity of the app. The moderators behind this project should have understand one thing clearly, once an exchange is able to entrapped traffic and it solves the major problems of a user, there will be absence of struggles among traders and investors. There are too many competitions between these crypto exchanges in the system, and investors and traders ought to register with the exchange that do actually settle their complaints.

[Silberman]

Hi,
go to Trustpilot and look up the customer reviews for Kraken, then check out the 1 star ratings. There is a flood of them complaining about having their accounts closed for not apparent reason.
Now I am not sure if those reviews might possibly be fake, or written by bots. At the same time it does seem really concerning. What is your opinion on it. Does Kraken maybe have issues that are brewing in the background, and would it be wise to not use them anymore?
Generally I've mostly read good opinions on them, they are often brought up when the subject is trustworthy exchanges. I just didn't know what to think about that absurd amount of negative reviews, and something seems fishy about it.

First, when you build something, people are always going to complain and make an issue out of one thing or the other. People complained and rated X (twitter) 1 star, Threads got created and they got 1 star from some users, Binance which happens to be the world's leading crypto exchange platform has a lot of 1 star rating. Secondly, it could end up being that some folks just want to bring them down, because I truly do not understand how 63% of their rating on Trustpilot is 1 star while other platforms think highly of them with 4.5 - 5 star ratings. It could be bots but most likely triggered by an angry fellow. I'm saying this because I've actually witnessed a few projects go through such.

It is because of this that reviews without any evidence are not to be trusted, and many of the forum members agree on this, since someone could make an accusation on any service but without proof it means absolutely nothing, it is only once the accusation is accompanied by proof in which the forum members will take a serious look and see who is on the wrong, however this is very rare nowadays as people post whatever they want on websites like trustpilot without evidence and those reading it end up believing it.

[livingfree]

One of the oldest one.

Good thing that it's still there alive and operating because I am thinking of the people that are employed through that exchange. So, that means that it's giving livelihood to its workers.

As for the reviews, someone can pay good or bad ratings to entice people on how both of them are.

Check for yourself and see if those ratings are right or wrong but just do it like with small amount money you afford to lose.

[JeffBrad12]

the fact that they existed from years ago when bitcoin isn't this big could only means they are doing pretty well internally and externally.
even right now they are gaining massaive new customerbase because of certain events. about the closing of account without any apparent reason I think this not only happened in kraken but many exchange out there,
to be fair, these exchange that have gained fame and popularity are actively doing this to ensure that they obey the law.
its not like they are deliberately trying to close off account just because they want to, after all these are their customers, but they knew there might be legal reason that caused such decision.

[X-ray]

Hi,
go to Trustpilot and look up the customer reviews for Kraken, then check out the 1 star ratings. There is a flood of them complaining about having their accounts closed for not apparent reason.
Now I am not sure if those reviews might possibly be fake, or written by bots. At the same time it does seem really concerning. What is your opinion on it. Does Kraken maybe have issues that are brewing in the background, and would it be wise to not use them anymore?
Generally I've mostly read good opinions on them, they are often brought up when the subject is trustworthy exchanges. I just didn't know what to think about that absurd amount of negative reviews, and something seems fishy about it.

First, when you build something, people are always going to complain and make an issue out of one thing or the other. People complained and rated X (twitter) 1 star, Threads got created and they got 1 star from some users, Binance which happens to be the world's leading crypto exchange platform has a lot of 1 star rating. Secondly, it could end up being that some folks just want to bring them down, because I truly do not understand how 63% of their rating on Trustpilot is 1 star while other platforms think highly of them with 4.5 - 5 star ratings. It could be bots but most likely triggered by an angry fellow. I'm saying this because I've actually witnessed a few projects go through such.

It is because of this that reviews without any evidence are not to be trusted, and many of the forum members agree on this, since someone could make an accusation on any service but without proof it means absolutely nothing, it is only once the accusation is accompanied by proof in which the forum members will take a serious look and see who is on the wrong, however this is very rare nowadays as people post whatever they want on websites like trustpilot without evidence and those reading it end up believing it.

True, i have seen kraken was also making an event for anyone who newly registered and complete their KYC will be credited with $10 futures balance. I have some friends were participating in this event and kraken was paying the profit generated from the future balance.
This exchange site most trusted exchange site. It seems like the competition has already ended and i think that any bad comments regarding this exchange site were obviously fake. Kraken is still being trusted by so many people at this moment. There's no feel doubt to use it.
People are still actively using it and kraken was really paying what it has promised. I dunno why people keep rely upong the review from the trust pilot. Trust pilot can be faked so easy by paying a group to make faje reviews without even trying the product.
I hope people will be well educated then regarding this problem. The fake review was also trapping anyone into the fake exchange site.

[DeathAngel]

Kraken is not a scam at all, they are a great exchange with a long history of being trustworthy. I have used them for many years transacting large amounts. They have successful & transparent proof of reserves. Along with Coinbase they are the most trustworthy exchange in the world. Obviously never leave a large % of your assets on ANY exchange long term, not your keys not your coins, but in my experience at least, Kraken is fine.

[Natalim]

Thanks a lot.
So I am not here to promote any project, not sure what you're talking about. I'm just a random dude who's still relatively new to this.

Now I will say that when reading those Trustpilot ratings they did seem a bit odd to me, because they were a bit similar in their tone, the language they use, and in how vigorously they demanded that people stop using the platform. So it would make sense if those are bots or shills. On the other hand, some of them do provide transactions IDs upon request by the Kraken team who responds there, so it would seem that those are legit customers.

I'm just trying to gauge whether there might be a crisis around the corner and whether these could be the early warning signs or not.

Probably, those reviews whether it was coming from a bot or a group of people who wanted to stop and ruin the reputation of long existing exchange Kraken. This will also tell us that not all feedback/reviews are true, some of them are used to destroy someone like this which gives us a reason not to verify and do further research if possible. In fact, I've been using this platform in the past year before jumping to Binance, I'd never encounter any issue so I believe all of those things are fake.

[babygun]

Thanks a lot.
So I am not here to promote any project, not sure what you're talking about. I'm just a random dude who's still relatively new to this.

Now I will say that when reading those Trustpilot ratings they did seem a bit odd to me, because they were a bit similar in their tone, the language they use, and in how vigorously they demanded that people stop using the platform. So it would make sense if those are bots or shills. On the other hand, some of them do provide transactions IDs upon request by the Kraken team who responds there, so it would seem that those are legit customers.

I'm just trying to gauge whether there might be a crisis around the corner and whether these could be the early warning signs or not.

Probably, those reviews whether it was coming from a bot or a group of people who wanted to stop and ruin the reputation of long existing exchange Kraken. This will also tell us that not all feedback/reviews are true, some of them are used to destroy someone like this which gives us a reason not to verify and do further research if possible. In fact, I've been using this platform in the past year before jumping to Binance, I'd never encounter any issue so I believe all of those things are fake.

It doensn't need to be bots who write negative reviews. When people are angry and have complaints, they will always get focal about it and will write a very negative review (some of them are valid and companies can learn from it). Everybody likes to complain and unless your experience is above good, you will not take the effort, to write a review about it.

[Hypnosis00]

Kraken may have some issues which make some users get mad at them but still, I'd never think all of those negative reviews are true.
Of course, anyone can make a comment or complaint against Kraken especially if it is mishandled but without knowing their issues in the past seems too unfair to think that their complaint is valid and needs support. I know the team is making those issues will resolves but if the complainant will not cooperate and accept their mistakes, no solution be made. I have used Kraken in the past few days, I have no problem with this exchange and that is because I used to follow their rules and regulations.

[goaldigger]

Kraken is not a scam at all, they are a great exchange with a long history of being trustworthy. I have used them for many years transacting large amounts. They have successful & transparent proof of reserves. Along with Coinbase they are the most trustworthy exchange in the world. Obviously never leave a large % of your assets on ANY exchange long term, not your keys not your coins, but in my experience at least, Kraken is fine.

Definitely not a scam as we all know this is one of the top exchange though some issues are there but still many trust this platform compare to other exchanges. If you are going to invest or trade better to choose the top site and with this, I can say that Kraken should be on your option because you can never be wrong about this site.

[lalabotax]

Hi,
go to Trustpilot and look up the customer reviews for Kraken, then check out the 1 star ratings. There is a flood of them complaining about having their accounts closed for not apparent reason.

Don't trust the reviews on TrustPilot too much. Good can be bad and vice versa here.
Anyway, there will be no exchange that has perfect reviews. Just look at their reviews on applications, whether in the playstore, appstore or others, there will definitely be bad reviews based on their security. So, this doesn't just happen to Kraken.

Generally I've mostly read good opinions on them, they are often brought up when the subject is trustworthy exchanges. I just didn't know what to think about that absurd amount of negative reviews, and something seems fishy about it.

But what is certain is that Kraken is a top exchange. They have a good reputation so far. It's not perfect 5 stars, but their service, live support, display, and several other things related to Kraken are actually very good. There's no need to hesitate. As long as we can really use and optimize this application, there's actually no problem. And we learn some of the T&Cs so we can use them appropriately. Then it won't be a problem.

Unless it is a low-cap exchange or a new one, we need to be alert. But this is Kraken.

[_BlackStar]

-snip-

I never knew Kraken besides its an exchange in the US.

Based on the information about the exchange - Kraken is one of the leading exchanges in the United States that was founded in 2011. They have fiat deposit options - it includes EUR, USD, CAD, and JPY. I don't use it - but the Kraken Trust Score based on Coingecko is up to 10.

For more information regarding Kraken, you can read the full details here: https://www.coingecko.com/en/exchanges/krakenundefined#about


So far I have avoided many centralized exchanges other than Binance. Of course this is because I am not sure my KYC is safe with them despite the positive response to the exchange that could be considered. Same as you - I don't use Kraken so far even though they is one of the well-known exchanges in the US, but they are not well-known to me.

[Sophokles]

I have been using Kraken exchange for the past few years without any issue. The trading terminal was classic in UI but they have already released their new terminal which is completely user-friendly. This exchange supports all the top altcoin and the most notable thing to remember is that it offers EUR pairs for many altcoin. If you are EU based I think it can be your best option out there as it has a massive user base and enough liquidity to support the market.

[JeffBrad12]

Kraken may have some issues which make some users get mad at them but still, I'd never think all of those negative reviews are true.
Of course, anyone can make a comment or complaint against Kraken especially if it is mishandled but without knowing their issues in the past seems too unfair to think that their complaint is valid and needs support. I know the team is making those issues will resolves but if the complainant will not cooperate and accept their mistakes, no solution be made. I have used Kraken in the past few days, I have no problem with this exchange and that is because I used to follow their rules and regulations.

people out there should know that different exchange have different set of regulation, some enforce KYC some not, also some will also froze user funds for some reasons.
kraken as far as I know is one of the oldest exchange, it dates back to when bitcoin not even reaching $10k if i remember and still standing strong until today.
I think it speaks volume as to what the reputation of kraken amounts to but still it got beaten by binance in terms of growth.
so basically if someone wanna use kraken i think they will be fine, after all this exchange has been known for too long i think its reliable enough.

[GreatArkansas]

Kraken for me is one of the safest centralized exchange these days, this kind of exchange is OG in the cryptocurrency market. Multiple bear markets, bull markets already passed by but they are still here without any such issues at all.
For me, Kraken is good, just like other reputable exchanges.