[ANN] KRAKEN.COM - Exchange with USD EUR GBP JPY CAD BTC LTC XRP NMC XDG STR ETH - page 345.

btcx

vip

Activity: 302

Merit: 253

Quote from: Herp on September 14, 2013, 01:14:49 AM

One of the things that are missing on all Bitcoin exchanges, including MtGox is a market maker. No Bitcoin exchange has that and it's one of the factors that contributes direly to the volatility. A market maker would ensure there will always be someone there to buy or sell to you, even if users themselves are not.

If you could partner with a business to provide such service or do it yourselves, you'd soon become the exchange of choice for everyone.

Informative video on the topic: http://www.youtube.com/watch?v=IbSOHwCOnG0

I agree. We're looking for a partner to help us out with market making. If you know anyone, send em my way!

Quote from: xchrix on September 14, 2013, 06:43:21 AM

thank you for the switch

You're welcome!

Quote from: MykelSilver on September 14, 2013, 12:26:10 PM

I have noticed that currently there is NO margin available. This applies for all available pairs (BTC/EUR, BTC/LTC and LTC/EUR). Anyone has information on this topic???

EDIT: Also send support the following ticket:
I can only select None in Advanced order. 1,2,5 and 10 are disabled. How is this possible? There are enough funds available. I did a test to buy 0.1 BTC when >90 eur available in account. How can I select 1,2,5 or 10 as leverage in advanced order?

As stated in the original post of this thread, margin trading is disabled for now but we plan to enable it around the end of the month.

MykelSilver

full member

Activity: 237

Merit: 100

I have noticed that currently there is NO margin available. This applies for all available pairs (BTC/EUR, BTC/LTC and LTC/EUR). Anyone has information on this topic???

EDIT: Also send support the following ticket:
I can only select None in Advanced order. 1,2,5 and 10 are disabled. How is this possible? There are enough funds available. I did a test to buy 0.1 BTC when >90 eur available in account. How can I select 1,2,5 or 10 as leverage in advanced order?

xchrix

hero member

Activity: 905

Merit: 1001

Quote from: Dargo on September 13, 2013, 05:31:09 PM

We've decided to switch from EUR/LTC to LTC/EUR. However, we're going to stick with BTC/LTC (since LTC/BTC could potentially get very low in price and we want to avoid having too many decimal places). We've had to cancel all open EUR/LTC orders in order to make the switch. We've emailed the users who had orders on to let them know. We apologize for any inconvenience this may have caused and hope that you'll find LTC/EUR easier to work with going forward.

thank you for the switch

Herp

sr. member

Activity: 294

Merit: 250

One of the things that are missing on all Bitcoin exchanges, including MtGox is a market maker. No Bitcoin exchange has that and it's one of the factors that contributes direly to the volatility. A market maker would ensure there will always be someone there to buy or sell to you, even if users themselves are not.

If you could partner with a business to provide such service or do it yourselves, you'd soon become the exchange of choice for everyone.

Informative video on the topic: http://www.youtube.com/watch?v=IbSOHwCOnG0

Dargo

legendary

Activity: 1820

Merit: 1000

Here's another announcement: We've gone through all the accounts that didn't verify at level 2. There were some we didn't pass, because we still couldn't confirm the address. So if you submitted for tier 2 verification, but don't have it yet, please contact us by creating a support ticket (and give us your public account ID - found under Account > Settings). We're planning on contacting people who didn't pass anyway, but it might go faster if you contact us.

Edit: Also, if you are still waiting on Tier 1 verification, it might be best to contact us with a support ticket at this stage. If you are still waiting on Tier 3, hang in there, we'll get to you soon.

Dargo

legendary

Activity: 1820

Merit: 1000

We've decided to switch from EUR/LTC to LTC/EUR. However, we're going to stick with BTC/LTC (since LTC/BTC could potentially get very low in price and we want to avoid having too many decimal places). We've had to cancel all open EUR/LTC orders in order to make the switch. We've emailed the users who had orders on to let them know. We apologize for any inconvenience this may have caused and hope that you'll find LTC/EUR easier to work with going forward.

Dargo

legendary

Activity: 1820

Merit: 1000

Quote from: Totscha on September 13, 2013, 03:50:39 AM

First of all I'd like to say I love the basic concept of this exchange. The whole regulatory compliance and customer validation is slowing the launch, but I think most of us understand it is very necessary. We don't want to see a Mt. Gox like fiasko here... I personaly have no problem waiting a couple weeks more before I can start trading with you.

Transparency, honesty and promptness is what we want (for trades, deposits/withdrawals and support requests). If you can deliver, we will bring our business to your site.

That being said I do have suggestion. The BTC/LTC and EUR/LTC pairs should in my opinion be switched to LTC/BTC and LTC/EUR. Simply because ALL the other exchanges have them like that and it's much more convenient as those are the numbers we are used to (2€ per LTC, 0.02 BTC per LTC). Better to do it now while the trade volume is low. I don't think anybody will mind, but a lot of us will support the change.

I hope you guys keep up the good work and get this thing started properly.

Cheers

Thanks Totscha - we are considering switching the pairs, and it carries a lot of weight when people let us know they'd prefer this. There probably will be some altcoin pairs where we have btc/ac, eur/ac, etc. because we want to avoid the situation where ac/btc price is really low, requiring a lot of decimal places. But that's just not an issue for LTC.

It's great that you don't mind waiting a few weeks to get started trading, but others mind quite a lot and we're working hard to speed up the process. It's frustrating to have to wait to get verified so you can get your funds into an exchange, but that's minor compared to the frustration you'd experience if you couldn't get your funds out because accounts were seized or the exchange was unbanked. In short, a little regulatory friction going in is far better than lights-out friction coming out.

Totscha

hero member

Activity: 1276

Merit: 622

First of all I'd like to say I love the basic concept of this exchange. The whole regulatory compliance and customer validation is slowing the launch, but I think most of us understand it is very necessary. We don't want to see a Mt. Gox like fiasko here... I personaly have no problem waiting a couple weeks more before I can start trading with you.

Transparency, honesty and promptness is what we want (for trades, deposits/withdrawals and support requests). If you can deliver, we will bring our business to your site.

That being said I do have suggestion. The BTC/LTC and EUR/LTC pairs should in my opinion be switched to LTC/BTC and LTC/EUR. Simply because ALL the other exchanges have them like that and it's much more convenient as those are the numbers we are used to (2€ per LTC, 0.02 BTC per LTC). Better to do it now while the trade volume is low. I don't think anybody will mind, but a lot of us will support the change.

I hope you guys keep up the good work and get this thing started properly.

Cheers

MannyEric

newbie

Activity: 11

Merit: 0

I can confirm it's quick indeed. My deposit took slightly over 24 hrs.

Quote from: Dargo on September 12, 2013, 10:38:54 AM

Quote from: MannyEric on September 12, 2013, 09:19:55 AM

How much time does the SEPA deposit take?

It's pretty quick, but I'll have to check in order to give an "x-y days" kind of estimate.

Dargo

legendary

Activity: 1820

Merit: 1000

Quote from: joesmoe2012 on September 12, 2013, 10:37:56 AM

Are you currently servicing any US states?

From the OP: "In most US states, including California and New York, we offer no services. In some US states we offer Digital Currency <-> Digital Currency trading. In fewer US states we offer DC <-> National Currency trading."

The above isn't permanent - we do plan on being able to serve most of the US, but there's no definite ETA on this.

We don't have a published list of the jurisdictions we serve, in part because it could potentially be used in an attempt to circumvent our controls. When you create an account, your confirmation email will let you know what services we can currently provide in your area.

Dargo

legendary

Activity: 1820

Merit: 1000

Quote from: MannyEric on September 12, 2013, 09:19:55 AM

How much time does the SEPA deposit take?

It's pretty quick, but I'll have to check in order to give an "x-y days" kind of estimate.

joesmoe2012

hero member

Activity: 882

Merit: 501

Ching-Chang;Ding-Dong

Are you currently servicing any US states?

Dargo

legendary

Activity: 1820

Merit: 1000

Quote from: stellan0r on September 12, 2013, 10:11:09 AM

Quote from: Dargo on September 12, 2013, 09:54:09 AM

Quote from: stellan0r on September 12, 2013, 05:38:18 AM

i'm still on Level 0 with Level 1 Pre-Verified and Level 2 Processing for 2 days now... any advances in your review process?

If you are pre-verified for level 1, this probably means we can't offer services in your area until we complete our regulatory compliance for your area. Check the confirmation email you received to see what it says. We'll get you tier 2 verified as soon as we can, but most likely the bottle neck for you will be waiting until we bring our services online in your area.

oh yeah did not read that (only "account confirmed, ok next mail"). Where do you offer your service?! Since your exchange works with Euro, I was sure that, as being a resident of a (the) Euro country, I could use your exchange right away Wink

(at least for BTC/LTC trades)

We serve most of Europe, but if you are in Germany for example, it's going to be a few weeks yet. The recognition of bitcoin as a "unit of account" (or whatever the best translation may be) in Germany means that we have special regulatory requirements that need be satisfied before we can operate.

stellan0r

hero member

Activity: 574

Merit: 500

Medical Translations for Bitcoins

Quote from: Dargo on September 12, 2013, 09:54:09 AM

Quote from: stellan0r on September 12, 2013, 05:38:18 AM

i'm still on Level 0 with Level 1 Pre-Verified and Level 2 Processing for 2 days now... any advances in your review process?

If you are pre-verified for level 1, this probably means we can't offer services in your area until we complete our regulatory compliance for your area. Check the confirmation email you received to see what it says. We'll get you tier 2 verified as soon as we can, but most likely the bottle neck for you will be waiting until we bring our services online in your area.

oh yeah did not read that (only "account confirmed, ok next mail"). Where do you offer your service?! Since your exchange works with Euro, I was sure that, as being a resident of a (the) Euro country, I could use your exchange right away Wink

(at least for BTC/LTC trades)

Dargo

legendary

Activity: 1820

Merit: 1000

Quote from: stellan0r on September 12, 2013, 05:38:18 AM

i'm still on Level 0 with Level 1 Pre-Verified and Level 2 Processing for 2 days now... any advances in your review process?

If you are pre-verified for level 1, this probably means we can't offer services in your area until we complete our regulatory compliance for your area. Check the confirmation email you received to see what it says. We'll get you tier 2 verified as soon as we can, but most likely the bottle neck for you will be waiting until we bring our services online in your area.

Dargo

legendary

Activity: 1820

Merit: 1000

Quote from: one4many on September 12, 2013, 04:37:55 AM

Hi Kraken,

why do you not accept proof of identity and utility bills in form of PDF's? Sad

PNG, JPG etc. is quite annoying because I get my utility bill via eMail ... welcome to the 21st century! Wink

All the best!

one4many

The acceptable format for the docs isn't determined by us but rather by some of the tools we need to use. We typically only need the first page and it has to have name address and date. You may be able to get the needed bit with a good screen capture, but there are also a variety of ways to convert PDF to JPG, etc.

MannyEric

newbie

Activity: 11

Merit: 0

How much time does the SEPA deposit take?

stellan0r

hero member

Activity: 574

Merit: 500

Medical Translations for Bitcoins

i'm still on Level 0 with Level 1 Pre-Verified and Level 2 Processing for 2 days now... any advances in your review process?

one4many

hero member

Activity: 516

Merit: 500

Hi Kraken,

why do you not accept proof of identity and utility bills in form of PDF's? Sad

PNG, JPG etc. is quite annoying because I get my utility bill via eMail ... welcome to the 21st century! Wink

All the best!

one4many

btcx

vip

Activity: 302

Merit: 253

Quote from: arlekyn13 on September 11, 2013, 11:14:29 PM

Quote from: Dargo on September 11, 2013, 12:51:41 PM

Yep, some aspects of verification are taking longer than they should. If tier 2 (address) verification doesn't pass automatically, it needs to be verified manually, and this process is slow right now. I'm told we'll probably have a fix in place for this later today to speed this up. Also, as I've mentioned before in this thread, tier 3 verification is going to be slow initially. But are you sure your address didn't get verified? The system shouldn't let you enter ID and proof of residence without address verification.

Actually, I also have " Your tier submission is being reviewed." for Tier 2 and I was allowed to upload docs for Tier 3 "1 - 2 of 2 uploaded documents"

please PM me with your public account id, or submit a ticket with it and I'll check it out.

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