Topic: [ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH - page 277. (Read 628818 times)

Since I'm just another Kraken user, this isn't the official Kraken opinion you may be looking for: The market price protection system prevents market orders from being executed when they would shift the price too much. This happens easily in markets with a very thin orderbook. There is a very simple way to circumvent the MPP: Simply place a limit order for a very extreme price. A limit order with a price that is far beyond the market price will behave just like a market order and pick up the best counter-orders until it has been filled. But the MPP system doesn't trigger for limit orders.

First of all, I want to congratulate Dargo for beeing always answering all the request from customers.

My experience so far with Kraken has been mixed and not long enough to have a solid opinion...

2 SEPA Deposits:

1st test deposit came in in 2.5 days which is a bit long for SEPA but nothing to worry about.
2nd deposit, its been already 6 days and not arrived yet, although Im aware of the problem with thier bank API

But what made me register and write here is that I wanted to test how to buy and sell cryptos so I tried to do a small operation, selling 5000 DOGE into EUROS (4 euros aprox) at market price so it would be made instantly. My surprise was that after waiting for a while nothing happened.
Checked the Orders tab to find out it was cancelled by Kraken and the reason was "Market price protection".....

I always thought that one of the main reasons for Crypto currencies to exist was that there was nobody regulating them, no governments, no banks, etc.... If now Kraken decides when we can buy or sell and which price is ok for us to do it, then Kraken is regulating Cryptos...

I would appreciate if Dargo explains the official Kraken opinion on this.

Regards

I hope that mine is one of them as I am still waiting for Kraken to resolve this 38 days after my initial deposit. I have contacted my bank on numerous occasion who have told me just  like giorgos story that the money was credited to Kraken's account.

Do I have to go through the crazy problem of contacting FIDOR myself just to prove it?

Or do I have to start bad mouthing Kraken on here too in order to get my deposit in my account.

Girogos, did Kraken do as they promised and credit your account the extra 40 Euro you paid to prove it?

Hoping that since this post my account will be credited before the day is out.

Woot, I just discovered that Kraken silently added OHLC data to the API: https://www.kraken.com/help/api#get-ohlc-data

timbusan - If you'd like my assistance with this, please PM me your ticket number.

I think our communication with Fidor on delayed withdrawals at this point is pretty good, so if there's a problem with the process, I'm not sure it has to do with communication. If we have a delayed withdrawal case, we send Fidor the information they need to trace the payment, then the rest of the process is mostly up to them. We do everything we can to keep the process moving along, but it's a step that we don't have a lot of control over. I'm not saying this to distance us from the problem. An exchange is partly about partnerships and bank partnerships are the most important, so the service we offer has to do in part with the service our bank offers. We've been working together with our bank to improve payment tracing and we've made good progress. But we still have bad cases on both the deposit and withdrawal side that remain unsolved. The unsolved cases are a very small fraction of the total deposits and withdrawals that have been processed, but nonetheless we do have these failures and we are working to improve our record and get all cases solved.

Nothing it just didn't exist when I wrote mine, glad to see there's other options though.

What was wrong with the existing one? https://github.com/veox/krakenex

See https://www.kraken.com/help/api#example-api-code-python

I wrote up a python class for trading on Kraken,  I've been using it for a few months. 

No documentation sorry

https://github.com/matuszed/kraken/

In the interests of transparency as noted by another user I feel I should bring to the community's attention my experience with Kraken so far.

I have been awaiting a SEPA withdrawal for 2 months and despite continued (if ad hoc) contact with support I appear no closer to receiving it. This is my second SEPA withdrawal (the first actioned without incident) and I was told that the problem lay with me putting my bank's name rather than my own name on the transfer form. Fair enough, if that is indeed what I did. (although why the first SEPA made it through and this didn't I am not sure).

After a lengthy investigation, Fidor Bank confirmed that they had found the money and they would send it again. I am told that they sent it a few weeks ago but surprisingly it has not turned up, and now we are involved in another nebulous 'investigation'. I do not understand why Kraken appears to have such poor communication with their German bank that they are unable to resolve this issue within a satisfactory amount of time.

I will say; support is cordial but is often very slow to respond. I generally have a favourable opinion of Kraken however I think it serves us all to remember that all is not what it seems with this industry and exchanges (mt.Gox and Bitcoin 24 for example - both of which have burnt me in the past) aren't always as honest as they appear. I welcome any resolution from Kraken staff and hope this serves as food for thought for any prospective customers.

i love it, who wouldn't enjoy reading a bunch of geeks with no social skills throwing names at each other. IMO better than television.

I am also very glad that your problem (and that of seven others) got sorted, Giorgios

RE my earlier appeal to 'forum etiquette', I wasn't trying to silence or intimidate anyone. Of course a thread like
this one is pointless if people are not allowed to speak their mind. I was only trying to say that name-calling and such may not be the most
helpful things to do in situations in which one is frustrated, but I guess mithrandi drove the point home.

If you still have this issue, please make a ticket and PM me with the ticket number.

I should just say thanks to Kraken for sorting a problem, the funds withdrawn to my hsbc (which hsbc refused) bank shower of idiots, have been credited back to my Kraken account.
those funds and most recent btc sell funds are now in process to my other bank.

best wishes

R

I'm glad your account is finally credited giorgos, and again I apologize for everything you have gone through to get your money. I absolutely defend your right to publish your problem in this thread and I think everyone is glad you did.

We owe you our thanks because you helped us discover a source of missing deposits. After checking our bank account directly, we've found 7 more cases like yours (deposits credited to our account, but not reflected in our system). So 7 others are going to be very happy because of you. And more will be saved from grief in the future now that we've discovered (and fixed) this issue. I'm embarrassed that we had this issue in the first place, but also happy because it's progress in the right direction.  

I too believe in transparency and I practice it everyday in this thread. I've been transparent with you about the situation with your deposit, but I understand your suspicion. When it comes to your money, I think it's hard not to be suspicious when it goes missing for 22 days. So it's unfortunate that we've lost your trust, but I understand your position.    

The status from my withdrawal last saturday has been changed to "sent" this morning and I just verified I recieved it into my bankaccount.

Thanks Dargo for your patience and clear communication. Kraken should be lucky with people/employees like you I think you avoided a little growing crisis in Kraken or maybe even BTC land.

@giorgos-pap

I am glad Kraken credited your account with  2.5k Euro.
Well I would call this good news. Isn't it all about communication ?
Dargo - well done !!!

No problem in explaining: you sound like Kraken's claqueur:

I'm glad to hear that your problem was resolved (finally). I just want to reiterate that it is definitely important that people publish issues like this, so that the community at a large is aware of what's happening with some users; I don't think you should feel bad about informing people of your problems (as long as the conclusion is also published, as you've done here).

UPDATE

Kraken just credit my account. I am sorry but I had to publish my problem because it was the only way to find a solution. I also tried to inform you because I believe in transparency. I hope to be the last person with such a problem. I am afraid I will not be...
I do not change my mind about Kraken.
Thank you all for your support (including Dargo).