Website: kraken.com
About company:
Since its inception, the Kraken cryptocurrency exchange has been providing traders from all over the world with high-quality financial services since its inception. It is rightfully considered one of the best platforms for trading cryptocurrencies. The mission of the crypto-exchange, according to its creators, is the popularization of cryptocurrency and access to blockchain technology for all segments of the population. This goal and user feedback form a tandem that inspires the company’s engineers to continuously improve the functionality of the kraken.com platform. We have reviewed the activities of this company and are ready to share the results of our work with you. Brief overview The kraken.com platform was launched 8 years ago (2011). It almost immediately won the trust of users from all over the world. The creator of Kraken Jesse Powell, realizing the growing prospects of digital currency and the rapid development of blockchain technology, set out to develop a platform for currency transfers, geographically and financially unlimited. And he succeeded! The crypto exchange is adapted for corporate clients of any size, as well as individual speculators of various levels. Cryptocurrency exchange Kraken occupies a good position in the world ranking, being one of the first in the digital asset market. The beta version of the site was tested in 2013. In the same year, it was officially open to customers. The listing of the exchange is replenished annually with popular cryptocurrencies. But the management also does not move away from legislative amendments to ban the anonymity of digital currency, which proves the reliability of the site. The main sections of the official website are translated into several languages, so Kraken cannot be called a localized project. Available in English (British and American), Spanish, French, Italian, Portuguese, Turkish, Japanese and Simplified Chinese. Only the main page of the site has been translated into Russian. The overview of the kraken.com site interface leaves a good impression, as it is both a modern design and a logical distribution of functions and sections. Kraken opens up wide trading opportunities for speculators. Here you will find that trading futures, indices and using leverage can be much more convenient and safer. At your disposal are many tools, functions that optimize analysis and exchange processes.
This is a great Crypto exchange for those with some level and understanding of Crypto currencies. They believe in personal responsibility and require you use secure 2FA with at least a authentication app but they also suggest using a Yubbi or some hardware 2FA as well. They are one of the few sites that allow and even suggest this even in the crypto world.
They can be stringent on their KYC verification requirements and it’s difficult to fund your account even after verification because they use a holding service that wants another more personal KYC I am not willing to do, So I transfer in USDC from other places bypassing Etana custody all together. I am still working to resolve this but it seems deadlocked,
Their customer service is very responsive with a 24 hour chat option which I really appreciate. Just like all crypto exchanges it has it’s advantages and disadvantages but it has a solid platform and full API support so I use it. Minus the one star for KYC issues and forcing me to deal with a Central Bank subsidiary.
The one and only reason I joined Kraken was to buy into the crypto Ripple. Ripple was shown to be available on their trade page. Nobody has Ripple… that I know of anyway. I entered all my information except for a recent pic. I don’t have a cam just my smart phone. I figured they had everything else and it wasn’t a problem for Robinhood, Webull, Coinbase, and Ameritrade( Yes, I have accounts with all of them).
When I went to buy Ripple I found out that my account was limited. I contacted C. S. (through email) explaining to them that I wanted to buy Ripple but my account was limited. I was told I needed to be at the Intermediate level in order to buy Ripple. Fine, I took a pic on my cell and attached it.
I then tried to fund my account so I could begin trading but I couldn’t find it anywhere. When I did finally notice it, I found that you can only trade with crypto or USDC which means more fees for me. I contact C. S. again using chat asking if it was possible to use my bank account instead (most companies use Plaid). I was told that I could only fund my account with coin. It only cost me $2.50 (not too bad) so I funded my account with USDC.
I went to buy Ripple only to discover that it isn’t available in the U.S. I contacted C. S. about two more times… no resolution. The fee to send my money back was $7.50 which is a rip-off. I paid it because I was unwilling to keep an account with this company when they not only charged such an exorbitant fee but they didn’t offer to wave it either. I lost time plus money for no return. Wow, I was upset all they had to do was have it on their screener that Ripple isn’t tradable in the U.S. (Coinbase has it visible on all crypto that they don’t support so there are no mistakes) and I wouldn’t be spending my time writing this review.
I found Customer service to be unhelpful, and somewhat snarky… either the employees don’t care, or the company doesn’t care and it bleeds through to their employees.
I opened an account with Kraken in order to purchase and send funds to my trading account as they were one of the few that handles USDT TRC20. They told me that it would be much cheaper to do a wire transfer instead of purchasing crypto outright.
It worked fine two times then the third time the funds in the wire transfer did not show in my portfolio after it showed on my online bank statement that it had cleared my bank. When I contacted customer service about it I was told they had closed my account and I could no longer use their services (Ticket # *******). When I asked what I had done wrong they said they cannot reveal anything due to “security and compliance” issues and they would be refunding my money. When I said, “What about the $30 fee my bank charged me for the wire transfer?” they said they do not refund fees. I received my refund with an additional $4 deducted for only God knows what so they basically stole $34 from me. Upon further investigation on various online reviews sites I found this is a typical antic of theirs after suggesting that their “customers” use wire transfers to deposit cash instead of buy crypto coins on the site.
Kracken has poor customer service i have sent money through Kracken before and all of a sudden they decided to close my account for no reason and tell me why they ate not a very good company to do business with stay away from them they wouldn’t even work with me on this they don’t treat their customers very well at all I would not recommend them at all