Quote from: not.you on June 13, 2017, 08:26:40 PM

Quote from: mayax on June 13, 2017, 08:13:19 PM

Quote from: akamit on June 13, 2017, 01:49:09 PM

Quote from: mayax on June 13, 2017, 12:21:05 PM

Quote from: mindrust on June 13, 2017, 09:54:34 AM

Exchanges are even worse than banks.

They are basically companies/banks without any government support. If they go bankrupt, you are fucked. If they steal from you, you are fucked.

I don't even trust banks in my country. How can you put your life savings in an exchange which is located in somewhere far away from your country and which you don't know anything about?

Now you have to find a good lawyer and i don't think there will be anything left from that 20k$ when everything is over. That's it if you can't solve your problem with the customer support.

Exchanges can randomly seize the suspicious money from the users. Suspicious to who? How? Nobody knows.

good point. there only few exchangers who are financial licensed but Kraken is NOT one of them. The people must be brainwashed or child to use a such company. a financial licensed company has a real office, real contacts, they have bonds as guarantee for losses, audits and so on.

it's beyond any imagination how someone can use Kraken, BTC-e , Bitfinex, Poloniex and others like them. Use a financial licensed exchanger !!!

I just got confused about what you guys wrote which is unbelievable for me..
Because if we want to trade crypto then we have to choose an exchange from the options available currently.
Some possible options are, Kraken, BTC-e , Bitfinex, Poloniex, Livecoin, Cryptopia, Bitstamp, Bleutrade, Bittrex, Novaexchange, Gemini, Gdax etc etc.
These exchanges are not based on one country but those are operating as international trading platforms. But some have limitation though as per I know.

But you guys creating doubt for the top level exchanges. Those exchanges have huge volume traded on daily basis.
So do you guys meant that all the traders there are FOOL?

Op deposited $21k which is around BTC7.82
I think that's not a very big amount deposited ever since the kraken born or other exchanges.
But its a very very very big amount for op, as he mentioned that its his life savings.
As per I know, there is lots of traders who deposited more than op deposited.. If I am not wrong..

I believe that its an error.
So I also think it can be solve by just contacting kraken's support.
If Kraken were in the beginning phase of SCAM then we might got so many threads regarding this within this forum from other users as RED ALERT.

Above 2 quoted posts are SCARY!
Newbies will get scared and will try not to involve in crypto world.
The world is black & white, I mean good & bad involve in everything.. All we just have to do is keep ourselves from BAD and stay with GOOD.

edit:
mindrust, please point out some licensed exchanges for reference.

Yes, only few exchangers are legal, financial licensed (Coinbase, Gemini, Itbit, Bitstamp, Circle and another one or two).

YES, Kraken, BTC-e , Bitfinex, Poloniex, Livecoin, Cryptopia, Bleutrade, Bittrex, Novaexchange and MANY others (including all the chinesse exchanges) are illegal exchangers.

These "top level exchanges" are running illegal businesses. What's so hard to believe it? Ask Kraken, Poloniex or BTC-e about their financial licenses. Kraken is based in USA and according to any US state they MUST have a money transmitter license which they haven't.

Bitfinex is registered in Hong Kong and according to HK financial laws, Bitfinex must be registered as a financial company and of course, they are not. The examples can continue...

YES, it's scary how many naive and ignorants are using these services and they are complaining that X or Y exchanger is running with their funds.

The newbies have a brain and they have to use it. They have to read and learn what it means a real financial company and after that they can trade. How can you write if you don't know the alphabet?
Same with the trading. How can you trade with the peace of the mind if you don't use a genuine exchanger?

Are you focused whether the exchanger is funding or withdrawing your funds in time or are you focused on trading?

Well I'm not going to search all of them but a simple google search led me to this page: https://www.fincen.gov/msb-registrant-search
Typing kraken into the DBA line and hitting search leads me to a result with a link for "Payward Ventures Inc" which indeed shows that they are registered as a money transmitter.

as a "legendary", you should know that, you can register any company on Fincen website. You can do it with any name you want

. It doesn't mean that you are a MSB.

Please take a look to https://www.coinbase.com/legal/licenses or https://www.bitstamp.net/payment-institution-license/

As a financial licensed company you MUST show your license on your website. Registering with FINCEN means NOTHING if you are not registered as MSB. Kraken (Payward Ventures Inc) is not licensed (MSB) anywhere.

A company must register in every state for which it provides MSB services under that state's law and then to register with FINCEN. Otherwise, registering with FINCEN only means zero. You are out of law.

From https://www.fincen.gov/msb-registrant-search :

"The inclusion of a business on the MSB Registrant Search Web page is not a recommendation,certification of legitimacy, or endorsement of the business by any government agency.

Information contained on this site has been provided by the MSB registrant. FinCEN does not verify information submitted by the MSB. Information provided on this site reflects only what was provided directly to FinCEN. "