Topic: [ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH - page 305. (Read 628889 times)

For those who are interested, here's a pretty good explanation of how money is moved in the banking system (and it relates the issue to bitcoin a bit). It's pretty basic, but gives a good explanation of how "correspondent" banks are used in the banking system. It's important to realize that banks transfers usually don't go directly from one bank to another. One or more intermediary banks are used and this increases the chances for transfers to get stuck/lost somewhere along the way from the sending bank to the receiving bank.  

http://gendal.wordpress.com/2013/11/24/a-simple-explanation-of-how-money-moves-around-the-banking-system/

Hi all,

I just submitted a new major release for my Kraken app. It will include an overview of your balance, an overview of your open & closed orders, and the ability to close orders.

Here's a quick teaser:



I hope it will be live in the store within 5 days, but I'm not sure if it will pass certification since I didn't provide my API key.

Hi Dargo,
I got a response to the initial ticket requesting more info about my trading, which i responded to on january 9 (two emails), but haven't heard back since. Not in the spam folder either.

Sorry to hear about this, but it will get sorted out eventually. I've read about other cases where customers have been given incorrect information by their own bank, such as wrong IBAN, BIC, etc.

tbosman - support did reply to your ticket. Did you not get the response?

I'll run the idea of fewer decimal places by the devs and see what they say. If we made such a change we would of course announce it first.

Probably support hasn't heard anything more about it yet and the dev is still investigating, but it'd be best if you asked for updates through the ticket. We're still pretty heavily loaded in support, so support staff don't have a lot of time to just "check in" if there isn't anything new to say.

Dargo, just to follow up tbosman post, if you would have change the decimal precision of any currency pair please do inform (at least here) because my opensourced kraken interface library (link in signature) already handle currently used number of decimal places.
Such change would affect a lot of customers due to this library is opensource on MIT license so can be easily used anywhere.

Any luck asking for higher limits? I've "pitched" my algo because they were reluctant to up the limits on account of my balance being small, but i'm still waiting on the response. I'm would like to now what kind of a rates i should think of for a volume of around 10-20K usd per day.


Related to this, i understand kraken values its trading engine resources highly. I really think you should krank down the decimals allowed for prices. 5 decimals
at 600 eur per btc is insignificantly low compared to transaction cost and spread, especially with these kinds of volumes.  I sometimes see bots trying to outbid eachother for 0.00001 price differences, which does almost nothing for the spread nor trading volume but takes up just as much resources nonetheless. Incidentally it also makes it much easier to see what average price at size is going to be when looking at the orderbook.

I'd say 2 decimals is more then enough, which is relatively still higher then the ticksize in fiat forex, where volume is much higher, volatility lower and transaction cost much smaller. Also bitstamp does it succesfully being one of the biggest players.

Anyone wants to weigh in on this?

edit: Another thing about the api, it seems to me that calls for account balance/trade history/open orders is much less intensive to your system, as this is just a read operation. Maybe it's an idea to have a separate limit for these calls, or let them count towards your limit fractionally or something. To me higher limits are mainly necessary to know faster whether my orders are filled yet this takes away from the amount of orders i can do right now.

Well, on a plus note have raised formal complaint with my bank and been assured that any lost funds / fee's will be compensated for, so will not suffer a financial loss; only issue is going to be the delays with recovering lost funds.

I would agree that to stay away from this bank; but it is a major bank whom I've been a customer of for well over 8 years. These kind of mistakes should not happen!
In the wrong IBAN given by my bank, I noticed that one digit was different to my account number and specifically queried this with the agent, but was assured without question that that IBAN she provided was correct.

At least this will prove a good test for Kraken support I guess; will update as progress made.

Cheers

Well in my case the situation looks very bleak.

Having had contact from Kraken support agents, the problem has potential been identified as to why my withdrawals have disappeared. Whilst initiating the transfers and setting the account up, I spoke to my local bank over the phone to confirm IBAN / BIC etc. Was stated that I would need to use an intermediary bank, BIC for such provided but no bank name / address could be given for this intermediary bank. When quizzed if this would cause a problem was uncategorically assured that there would be no problems with no giving the further detail.

As it so happens this is not the case; if your bank requires an intermediary bank to be used, YOU MUST ENTER THEIR ADDRESS! Support investigating accordingly, but likely going to be a few weeks before I see this money again.

....and to top it all off, have just found out that my SEPA IBAN detail which was given to me by my bank yesterday, WAS ALSO WRONG. So a second payment was issued to an incorrect IBAN. Bloody banks are horrendous, I tell you.

Dargo, whilst I understand you're likely swamped with support requests. Any assistance you could offer to escalate tickets #17077 and #16784 would be greatly appreciated.

Sigh!

For the time being, you can use Bitcoincharts.com for historical data, at least to some extent. They recently picked up Kraken support and they offer an API to fetch historical data for exchanges they support. Since they started gathering data less than 2 weeks ago, there's not that much history there yet.

OAuth also uses HMAC, so if your platform doesn't natively do HMAC, OAuth would also be a problem. If there are OAuth libraries available, you might be able to canibalize these to obtain the relevant signing code.

As for the complexity of the authentication process, it's not significantly more or less complex than what other exchanges do. The principle is similar to OAuth, except that the exchanges work with a static API key for authentication, whereas OAuth dynamically generates a key/secret pair every time the user logs in on the website to authenticate the app. But beyond that point, the process for creating requests is the same, save for some implementation differences.

thanks Dargo for clarification, let us know (the old Tier 3) when this upgrade will be ready and We can start to apply via support. Currently I had to stop trading on kraken for a while to restore monthly limits

Avalaxy, what platform/language are you going to code? kraken auth process is quite complex but it is not a way more complex then the other exchanges. It is not hard to use currently provided examples and similar examples from other markets (there will be tons of them). In my signature you can find another language code to handle auth on kraken.
About api keys security, I believe there is no better alternative now to be used.

Hey Dargo,

Is there any word when the API will support OHLC/historic data?

Also, I have a few concerns with the way third-party apps have to authenticate themselves with Kraken. For example:

• Windows Phone does NOT support SHA-512 or HMAC, I can imagine there are more platforms that don't offer these algorithms.
• The whole API key thing is not only very un-userfriendly, but also a huge security vulnerability. API keys can get stolen, or accidentally published (for example in a public github repo).
• The way the API sign needs to be created is way too complex (and poorly documented).

Imho it would be much better if authentication would use OAuth. Should I report these concerns to the CTO, or do I need to create a support ticket?

Tier 4 is available for individuals, not just companies. To inquire about tier 4 for individuals, you will (gasp!) have to submit a support ticket about it. Support is still running slow, but it's improving.

We're not increasing limits for all of tier 3. We will essentially have an alternative tier 3 that has higher limits, but people who are at the old tier 3 won't convert over to this automatically. Saying that it's coming "very soon" is a bit of a stretch I'd say. It's probably a few weeks away at least. 

already discussed, conclusion: you may try to ask support, in my case it did nothing, but they state they will increase limits very soon for all Tier 3.

Hey everyone, I created a Kraken app for Windows Phone 8 I made a thread about it here: https://bitcointalksearch.org/topic/wp8-kraken-unofficial-app-for-windows-phone-8-416005. Note that this is not an official app.

Is there any way to increase deposit/withdrawal limits without having a company (which is required for Tier 4 verification)?

Does the Kraken public API support CORS?

Updates on this? The ticket reply only promised that a dev would look into it...

Seems I'm having problems withdrawing also.
3x withdrawals made on 7th / 8th January which have failed to appear in my account unfortunately.

All details have been checked and verified as correct also.

Dargo, have sent you a PM also as support seem unresponsive.

Cheers