Kraken Bitcoin ExchangeReviews 76

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

Do you not waste your time or your money on Kraken! I gave them my private information, they jerked me around, they sent me all kinds of confusing messages like Account activated, you're now intermediate, while they're having me pose with a note and an ID, and then they tell me they're closing my account and they can't tell me why for security reasons! They can pick whom they want as a customer, but a number of people had the same complaint in reviews!
Fortunately I didn't lose any money, even though a number of people that wrote reviews have, or have had to wait long periods of time to get it back, or they just had it stuck in limbo and they don't know what's happening with it!
Something is not right with Kraken, they're either extremely disorganized, their staff doesn't know what they're doing, or they're just plain up to no good! What are they doing with all this private information that they get from people and then boot them off their site? Do they destroy it? Hopefully they do but who knows!
Proceed at your own risk!

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.

I bought ETH from them and I never received it even after filing several compliants which I never received any response to not until I reported to reimburse solutions. Tech was I able to get my money back... No ETH was ever received.

They used #SHIBARMY for free advertisement, they lied about adding shiba inu. I dont want to use platform that doing something like this to their customers.

I've moved $43 to my Binance account only to have $18 it doesnt show you fee when transferring. Scam company should of expected it. Don't sign up, Better alternatives are Binance or Crypto.com

KYC process is extremely ridiculous. I have to send many pictures of my holding a paper and my ID but they still don't want to process it. They want me to keep doing that again and again. I have never encountered such a bad customer support like this. I highly don't recommend to use this.

SIte goes down when trading is busy so you cannot trade. Flash crashes make margin impossible. Deposits are held for days even on verified accounts. Customer service is useless at best once they have your money. Use at your own risk! Look for an exchange with better online availability and better customer service. These guys act like your money belongs to them (which it might as soon as they flash crash your account).

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 recently had 22,000 USD hacked from my Kraken crypto account and Kraken gave me zero help not care! Their site was hacked yet they offered no help. In fact they were rude and pointed blame. Took them 10 days to reply! I used all the security protocols they advised so how was I to blame? I lost everything yet they turned a blind eye. It could have been them who stole my money!

Do not join Kraken and certainly don't trust them!

Thieves

I have been waiting for someone from the support to do something about my BTC withdrawal that has been stuck at the "passed" stage for 8 days. I file a complaint with the help of a organization in CA and within 2 days i got my coin. There is always no one in the customer support chat to talk to. The ticket system has no follow-up and feedback loop. You are forced to write a new ticket every time and the whole process of "going to nowhere" starts all over again. You are sent a feedback form only when an issue (occasionally by some miracle) has been solved. Only then you are given an option of complaint where you can say "My issue was not resolved." We cannot give any feedback on unresolved issues and only given that option when an issue has been addressed? Where is the logic? It's like program is forcing us to provide only positive feedback because it requests feedback only when the outcome is positive. If not for? Grosschargeback?, my btc was far gone.

Seems they are having cash flow issues. They can not release funds from Etana to the Exchange customers. And off course the support system is totally disfunctional

Many other exchanges with proper customer service

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.

Kraken's fees are among the lowest of all the major bitcoin exchanges. Sometime in February, I had my capital stolen from me in the name of investment that needed to be upgraded and trading fees. I eventually recovered it all through fintrack. Org. Basically, the fees you pay on Kraken depends on your last 30 days' trading volume. In general, the fees are based on a maker-taker basis.

I originally signed up with Kraken when Ripple (XRP) was worth $0.18. As with all exchanges dealing with USA residents I had to submit my information to be able to trade, so I did. A week later, nothing, I messaged them several times. A month later, nothing, I messaged them more. Two months go by and the "Customer Support" agent asked for my information all a second time. Now I didn't check my email that day, so when I did the following day (only 10 hours after he send the first message) he threatened to close the ticket for lack of response.

These morons do NOT know how to run an exchange. By the time he finally replied ripple was worth $1.20. I lost out on thousands of dollars because of these idiots.

I also followed the Kraken forums and several other users have had currency just disappear. Kraken is nothing more than a slowly failing scam.

DO NOT USE KRAKEN!