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.
Most of exchange has 1 star rating coming from their clients due to violation of ToS. Kraken is one the centralized casino that working closely along the regulators which means they don’t do something silly that will jeopardize their relation with regulators. They even allow regulators to look on the KYC submitted to them that show how completely centralized they are.
This exchange is an open book to regulators as legit crypto business. Binance is more shady than them. But this kind of openness is discouraged by crypto community because it’s too centralized.