Post
Topic
Board Altcoin Discussion
BE AWARE OF KRAKEN (review)
by
malkotoniki
on 12/12/2017, 13:10:41 UTC
Hi guys, just wanted to share my experience thus far with the so-called exchange Kraken.

For those who have tried it, they already know what my main observations are - this exchange SUCKS.
For those who have not tried it yet, please take into consideration this post before doing so.

Deposits: Interestingly, deposits on the Kraken exchange are extremely easy to execute, it is almost like the whole platform is functioning solely to maintain the deposit option.

Trading: Here things get bad... Kraken is extremely laggy and buggy platform. It uses the cryptowat.ch charting platform and executing orders from the latter platform is quite burdensome. Most of the time your orders are loading until you receive message of a particular 'error'.

Withdrawals: Withdrawing from kraken is truly slow and inadequate, so in case you need to withdraw a particular coin from this exchange - equip yourself with some patience and nerves, because you will need them... Most of the time the Funding and Withdraws page is not loading at all. Not only that but the whole platform seems to be extremely laggy when one tries to withdraw his funds. Additionally, even in case you manage to get to the withdraw page of the particular currency you are aiming to transfer, you need to insert a wallet address and approve it from your email, which then turns you again to the extremely burdensome procedure of getting to the withdrawal page. Withdrawal fees are inadequate [0.001 BTC to withdraw (e.g. 0.0005 BTC to withdraw from binance)].

Conclusions: Depositing is extremely easy and simple. Trading is doable, but quite laggy and inefficient. Withdrawals are a real nightmare, which can be handled only via vicious patience to refresh the page 10-15 times until getting to the actual withdrawing page.

Overall, if there is another exchange platform you can use, go for it... Kraken is really bad. Maybe it used to be better before, but nowadays it cannot handle the stream of users, traders, orders, etc. Additionally, withdraw fees for Bitcoin are inadequate.