I appreciate how dependable, effective and fast customer service. We have been writing and researching cryptocurrency since 2016. We have been reviewing and testing all of the major cryptocurrency exchanges since 2017. Our team understands the crypto and NFT space, but also understands the intersection with TradFI (traditional finance).
- Kraken is a fully functional crypto exchange with low fees and a good mix of coins.
- The fact that it hasn’t been hacked in nine years speaks for itself.
- Kraken is one of the oldest Bitcoin exchanges and supports 220+ different coins to buy, sell, and trade with competitive exchange fees.
- I was not allowed to transfer the BTC to my trading account.
However, other cryptocurrency exchanges may offer higher interest rates/rewards on staked crypto assets or a less complicated fee structure. To compare your options, check out our 10 favorite cryptocurrency investing sites for 2023. Like many of the other crypto exchanges, Kraken has accumulated a massive pile of unhappy customer reviews on Trustpilot. Kraken allows you to exchange fiat currencies such as USD, Canadian Dollar, Euro, and GBP into cryptocurrency. You can also exchange from one cryptocurrency into another.
No customer service response.
Well that 25 bucks is now on hold, sold one of my older coins and bought 25 worth of bitcoin still on hold. So if you put money in, you need to know atleast a week ahead of time that you want to buy something. Basically I’m being penalized for depositing money weekly. Yes, the basic Kraken trading platform 0.90% for stablecoins and 1.49% on all other crypto pairs. You’ll pay an additional 0.50% if you use a bank transfer (ACH) to fund the purchase or 3.75% + €0.25 if you pay with a card or digital wallet. You can also buy crypto using a credit card, but it’s the most costly method.
I found this out today when I needed to get into the exchange to transfer funds. I reported that more that a week ago but the problem remains. Professionalism in the crypto industry is very scarce. I tried to open an account and transfer funds. I complied with their every request in the most transparent fashion, then got turned down and my account was closed with no explanation.
Kraken Review: Advanced Crypto Trading and Low Fees
It is one of the largest and oldest exchanges. The company has raised $118 million in seed funding. Kraken is one of the oldest and most robust cryptocurrency exchanges available. We’re proud of our content and guidance, and the information we provide is objective, independent, and free. The is kraken legit Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. This advertisement contains information and materials provided by Robinhood Financial LLC and its affiliates (“Robinhood”) and Publisher, a third party not affiliated with Robinhood.
What reviewers want you to know
The company’s entry-level service, “Instant Buy,” is convenient, but the fee breakdown is confusing and opaque. Previously, Kraken disclosed its fees as 1.5% for most cryptocurrencies, plus a 0.5% processing fee. Now, all users can see is that Kraken will show a “displayed fee” and potentially a spread at the time of purchase. When we tested purchasing $200 of BTC with USD via debit card, this displayed fee came out to $10.59, or about 5.3%. Fees do tend to be higher with debit card purchases, but Kraken’s issues with connecting with banks means this likely isn’t an uncommon scenario.
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Trying to find a reliable cryptocurrency exchange can be a challenge. It seems exchanges are being hacked every month. And with BTC hitting new highs almost every week, finding an exchange you can trust is critical.Kraken seems to check all the necessary boxes for a reliable and secure crypto exchange. It is based in the U.S. and has never been hacked.
However, there are better choices available that you can browse in this article. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. I use Kraken since 2019, and this past few months I can tell that they have serious problems with bank transfers and deposits. They are not able to track your funds in Euros. Also can reject your deposits with no explanation given.
Kraken Pro is more polished than the basic web-based trading interface. It includes graphs, market depth, open orders and positions, and the ability to place trades. But it’s also part of what makes Kraken secure and allows it to offer those advanced features.
They have no conscience, invest with them and you will never get a withdrawal. Good to know there are still good agencies like [danfulrecoup].tech. They dont responce then I write to them about a keyboard I have not recived. And there is no tracking info and there my keyboard is. Margin traders are charged an opening fee of 0.02% and a rollover fee of 0.02% per four hours.
It hasn’t been hacked since it launched in 2013 and is widely recognized as one of the most secure cryptocurrency exchanges. That said, cryptocurrency security is a hotly debated topic and any exchange can be susceptible to hacks. However, you only need a starter account to deposit coins, and it will take about five minutes. Kraken has resources available to help you transfer funds from other exchanges.
Kraken has a poor 2.2-star rating on Trustpilot with 68% bad reviews. Some of the more positive reviews like Kraken’s smooth service and low fees when using Kraken Pro. To help secure your Kraken account you can use two-factor authentication. You will receive an email notifying you of any withdrawal, and there is an account timeout for added protection. You can also add a time lock on your account so no one can login until the lock period ends.
What a scam.
It can be a great way to earn passive income on your crypto. Signing up with Kraken is similar to signing up for a stock brokerage or another cryptocurrency exchange. If you have all of your information handy, it takes only a few minutes to get your account up and running. Your Kraken account should be safe from cybercriminals looking to drain your balances if you follow good online security practices. Once an account is funded, it’s extremely wise to add two-factor authentication.