What do people think of Kraken - page 2.

TelolettOm

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Quote from: RaveniaPX on October 27, 2023, 02:34:55 PM

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?

Whatever the exchange, there will definitely be some people who have felt disappointed or experienced difficulties on the exchange. And not just Kraken. But this is only a small handful. Moreover, it is trustpilot, never trust on that site. You can even find very good reviews on scam projects or scam platforms there. So, don't believe it.

What is certain is that Kraken is one of the top crypto exchanges in the world. In fact, it is currently in the top 3.
https://coinmarketcap.com/rankings/exchanges/
They may have problems with some people, but generally speaking, Kraken usually resolves problems correctly and promptly. I'm sure there is a reason why their account was suspended or closed and it's impossible if there is no reason.

devil-soul

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Kraken was one of the first exchanges that operated in the crypto sector, it was almost a point of reference but then slowly it was overtaken by others. Its graphics have not been updated. It appears old and therefore the site is also slow. Then they didn't expand the features like more exchanging pairs then the mandatory KYC give them the final blow

btc78

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Quote from: RaveniaPX on October 28, 2023, 03:57:10 AM

Alright, understood. Thank you guys. So basically I might have fallen for the same kind of stuff you see in YouTube comments nowadays. What I do wonder then though is why quite a few of those reviews give transaction IDs. Or do you suppose those are fake as well?

If you can't trust Trustpilot reviews, then how are you realistically supposed to come to a conclusion about whether a business is trustworthy or not? I'm not just talking about the crypto space, but other online shops and so on.

There are lots of review sites that we can check and use but not trustpilot , while you ask this then let me ask you also , "Why did you just created such thread when you are lack of knowledge about it"? same question as you delivered here .

and how we conclude the business is legit and trustworthy? it is because we have used them and yes we did not experience big problems.

and about ID's , people nowadays can provide everything you need so care nothing about those ID's because many of those are also fake not unless there are true transaction flows.

rodskee

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Quote from: RaveniaPX on October 27, 2023, 06:01:45 PM

Thanks a lot.
So I am not here to promote any project, not sure what you're talking about. I'm just a random dude who's still relatively new to this.

if you are truly new to this then why post exaggerated things ? you said there are flood comment
about 1 star complaint but upon checking there is only 2 or 3 account that has that ratings?

and also if you say Flood meaning multiple account but having that issue in trustpilot? am not
sure if anyone of us will even believe what is written there because we are tired of checking fake reviews.

Quote

Now I will say that when reading those Trustpilot ratings they did seem a bit odd to me, because they were a bit similar in their tone, the language they use, and in how vigorously they demanded that people stop using the platform. So it would make sense if those are bots or shills. On the other hand, some of them do provide transactions IDs upon request by the Kraken team who responds there, so it would seem that those are legit customers.

I'm just trying to gauge whether there might be a crisis around the corner and whether these could be the early warning signs or not.

try checking other review site mate and also try to check this forum in Reputation and scam accusation
because this forum will not tolerate Kraken if they are shady or having complicated reviews because there are many
users here that are Kraken users also.

Silberman

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Quote from: Wakate on October 27, 2023, 07:11:58 PM

Quote from: RaveniaPX on October 27, 2023, 02:34:55 PM

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.

You need to understand that Trustpilot is not to be trusted and I no have seen so many review from the site which are fake and nit real. I think they get funds from companies to increase there ratings especially the bad eggs that always have the attempt to steal from customers.

I had made a certain decisions before cause I mistakenly check for review on the site and I ended up losing my fund. Many people that had been disappointed by Trustpilot knows that the site is not to be trusted. I don't bother myself going to the website to get review of other projects or companies. Some of the review there are pretty honest but some are just fake.

We must remember that when a business has as lot of customers bad reviews just come with the territory, with many reasons which could explain why this could be the case, like a customer being mad about some of the policies they were subject to, believing they are in the right when they are not or a legitimate bad service being given, but whatever the reason a few bad reviews are not indicative of anything, and when we add that Trustpilot is not to be trusted then we can tell there is nothing wrong with Kraken at the moment.

dimonstration

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Dimon6969

Quote from: RaveniaPX on October 27, 2023, 02:34:55 PM

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.

cryptoaddictchie

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Quote from: RaveniaPX on October 27, 2023, 02:34:55 PM

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.

I never knew Kraken besides its an exchange in the US. So far my friends who uses it said that its a good exchange like Binance but honestly since I didnt know, Im not sure hows the user experience but the feedbacks should tell otherwise. Most users must have upload their feedback so if theres a negative one then take it as it is. But being surrounded by bots who knows if thats a real statement or what. Better to try the exchange yourself to get a real deal perception of it.

o48o

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Quote from: RaveniaPX on October 27, 2023, 02:34:55 PM

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.

It's a good exchange. From what i gathered, from the start they have put a lot of effort in security. And if i remember correctly Cobie (crypto cobain) had an account there and spoke highly of them.

And since you talk about trustpilot, you need to put things in context, as you should know that you can't trust trustpilot reviews, because people get paid for fudding and shilling there.
But let's pretend that trust pilot is reliable for a moment. and Kraken seem to have bad reviews (2.5 stars)

Let's compare that to other trust pilot exchange reviews:

Kraken 2.5 *
Bitfinex 3.1 *
Bybit 2.4 *
Binance 2.1 *
Crypto.com 1.9 *
Kucoin 1.6 *
Coinbase 1.5 *
Poloniex 1.2 *

And i am not going to read all the "they stole my money" posts because every exchange has those,
and sure that there are some less mainstream exchanges with fake volume that still has paid higher rankings.

But my point is even if you believed trustpilot, Kraken is doing ok.

Huppercase

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Quote from: RaveniaPX on October 27, 2023, 02:34:55 PM

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.

Don't trust centralized review platforms, they are most of the time paid to write something good about them mostly the good part, they will forget about the to criticize them of the bad state of their platforms. I don't know much about Trustpilot I can't say for sure the authenticity of those reviews, Kraken exchange might be a centralized exchange that many people might not like but those reviews are rubbish and ridiculous, get your facts on your own.

You can check on this general review and things you need to know about the exchange, in addition, you can check the forum especially the scam board for more threads about Kraken to see if there has been complaint about the exchange. Don't forget to deposit a little amount to test the exchange services, putting all you have with them will put you in more risk since you don't know much about the exchange. Good luck.

bluebit25

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Quote from: RaveniaPX on October 28, 2023, 03:57:10 AM

Alright, understood. Thank you guys. So basically I might have fallen for the same kind of stuff you see in YouTube comments nowadays. What I do wonder then though is why quite a few of those reviews give transaction IDs. Or do you suppose those are fake as well?

If you can't trust Trustpilot reviews, then how are you realistically supposed to come to a conclusion about whether a business is trustworthy or not? I'm not just talking about the crypto space, but other online shops and so on.

Although it is not an exchange that I use regularly, I know that CEX is always in the top tier in the crypto field. I'm not sure what the OP is concerned about seeing some of the negative feedback about it, but it seems to me that the same negative feedback has appeared in other CEX cases. Just know that the quality of service cannot satisfy everyone and sometimes there are still some cases where users feel uncomfortable.

You depend on an assessment tool that you are aware of as the only way to learn about any business. But not only with crypto, but in many other fields I can mention some criteria:
- about products and services
- brands
- teams
- business activities
- partner
- financial reports,...

And almost all of them information cannot be compiled from one source but must be searched for. So don't overuse the rating of a certain tool, trustpilot is only a very small part for people to know about the company or business, never consider it as everything.

RaveniaPX

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Alright, understood. Thank you guys. So basically I might have fallen for the same kind of stuff you see in YouTube comments nowadays. What I do wonder then though is why quite a few of those reviews give transaction IDs. Or do you suppose those are fake as well?

If you can't trust Trustpilot reviews, then how are you realistically supposed to come to a conclusion about whether a business is trustworthy or not? I'm not just talking about the crypto space, but other online shops and so on.

Husires

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Instagram has a rating of 3/5, and some of the famous services have many negative reviews, but Kraken has a long history of work and is unlikely to be a scam, so all these negative reviews are either from people who have no knowledge of the terms of use, or Kraken has actually become more strict with accounts.
You have many options, so if you are skeptical, you do not have to use them. There are many alternatives that have almost the same features as Kraken, and Kraken also shares data with the IRS.

babygun

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As some others have mentioned, don’t solely rely on Trustpilot, a lot of people will also leave a comment behind when they have some complaints. I have been using Kraken for many years without any issues so I can only recommend it!

DapanasFruit

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Kraken has a good name when it comes to CEX but then again any platform will always have problems and nothing is shielded from negative reviews as they interact with voluminous customers all over the world...even Binance may have some negative reviews somewhere. You should note that it would be so easy to manipulate Trustpilot as it is not requiring some kind of KYC or verification is what is written can be true or not. One can easily destroy a reputation in there for free. Now, am not saying that we should not be listening to bad reviews but what I mean is we should also be doing some critical analysis and balance things out because in the end the best and credible experience and testimony is the one coming from you.

makishart

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Never try to trust truspilot. It can be faked easily by paying some bots to posted the fake reviews regarding it. If you were asking about how good kraken is and i have ever used it previous years but i had stopped to use it since there were better exchange sites that much more friendly users.
So far so good and i never encounter any problems with kraken but the i remember that day the platform's UI was not friendly enough for me. That's why i have decided to left from there. Those who said bad in the trust pilot may be fake reviews.

I don't even take latest update regarding the how friendly kraken UI this time but the exchange site is always doing regular improvements. This platform was also rarely being linked to the bad behaviors by the club behind the product.
Krakan is one of trusted exchange site that is still ever exist since a long time ago.
It was showing the commitment owned by kraken to build a good exchange site for its users.

Wakate

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Quote from: RaveniaPX on October 27, 2023, 02:34:55 PM

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.

You need to understand that Trustpilot is not to be trusted and I no have seen so many review from the site which are fake and nit real. I think they get funds from companies to increase there ratings especially the bad eggs that always have the attempt to steal from customers.

I had made a certain decisions before cause I mistakenly check for review on the site and I ended up losing my fund. Many people that had been disappointed by Trustpilot knows that the site is not to be trusted. I don't bother myself going to the website to get review of other projects or companies. Some of the review there are pretty honest but some are just fake.

RaveniaPX

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Thanks a lot.
So I am not here to promote any project, not sure what you're talking about. I'm just a random dude who's still relatively new to this.

Now I will say that when reading those Trustpilot ratings they did seem a bit odd to me, because they were a bit similar in their tone, the language they use, and in how vigorously they demanded that people stop using the platform. So it would make sense if those are bots or shills. On the other hand, some of them do provide transactions IDs upon request by the Kraken team who responds there, so it would seem that those are legit customers.

I'm just trying to gauge whether there might be a crisis around the corner and whether these could be the early warning signs or not.

Wiwo

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Quote from: Ultegra134 on October 27, 2023, 05:20:50 PM

It's one of the first exchanges I used, somewhere in 2017. I didn't have any issues, but I ultimately ended up switching to Binance for a variety of reasons, such as lower fees and an overall better platform. My main complaint was the layout. I wasn't really fond of it and found it a little inconvenient compared to other exchanges, but I was generally satisfied. I'm not sure about those Trustpilot reviews, but it honestly has a relatively low rating of 2.5, and I'm seeing quite a few complaints about slow withdrawals, customer support issues, and a few account closures, along with some others that don't make too much sense.

I don't have an account with the exchange but then I am very much aware of the exchange and its popularity in the market, but as much as truspilot is involved in this rating crisis I ain't trust the rating and at most of the users who made that review may have committed a crime against the casino to have warrant his account to be locked.

Or better still, the reviewer may be a sponsored one and have gotten paid to make such a revision for the exchange at this time and for sure that is the one bad side of Trustpilot because most of the review doesn't reflect the real situation of things in reality.

passwordnow

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It's one of the top exchanges that we have but still incomparable to the other that's on the peak like Binance. Trustpilot ratings could be true or paid and that's why always add a grain of salt when reading it there. Based on the experience, that's how you should at those ratings. But that's it, there can be good experiences and bad ones per se for most exchanges that we use even at the most known ones like Binance.
This is the good thing about this market that we've got a lot set of choices when we're having troubles or worries about using one of them. We can switch from a to b any moment that we want to. Do you have trouble using them or did they lock your funds? If you have seen that happen to others, it's worrying honestly and you don't want it to happen to you. So before it potentially happens to you, what you have to do is to just leave them and look for a better one that might be more trustworthy for you.

Ultegra134

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It's one of the first exchanges I used, somewhere in 2017. I didn't have any issues, but I ultimately ended up switching to Binance for a variety of reasons, such as lower fees and an overall better platform. My main complaint was the layout. I wasn't really fond of it and found it a little unconvenient compared to other exchanges, but I was generally satisfied. I'm not sure about those TrustPilot reviews, but it honestly has a relatively low rating of 2.5, and I'm seeing quite a few complaints about slow withdrawals, customer support issues, and a few account closures, along with some others that don't make too much sense.

If you're having second thoughts, you can always choose another one. I might not be the most objective person to answer your question of whether or not it's a reliable exchange because I haven't used them for years.

Topic: What do people think of Kraken - page 2. (Read 263 times)