What do people think of Kraken | Bitcointalksearch.org

Saint-loup

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Quote from: wallet4bitcoin on November 04, 2023, 06:44:25 PM

Kraken has been around for a while, I've never had a chance to complain about them even though its been a while since I used their services but feedbacks are not to be joked with.
If multiple people have complained about their accounts and their complaints aren't subject to a particular thing then I suggest the reviews have to be taken seriously by users, but if the complaint borders around a particular reason then chances are, they are yet to get it right or maybe they are from the same region and they have some restrictions.

From what MAAManda said in his post above, he only found few comments about unwilling closed accounts fortunately. So it doesn't seem to be a very widespread practice if he is right. In the two comments he mentioned only one of them was complaining about not returned funds and it was "only" one week after the closure. So they don't seem to scam people like dubious exchanges and casinos, and to stay rather professional despite some complaints.

wallet4bitcoin

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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.

Kraken has been around for a while, I've never had a chance to complain about them even though its been a while since I used their services but feedbacks are not to be joked with.
If multiple people have complained about their accounts and their complaints aren't subject to a particular thing then I suggest the reviews have to be taken seriously by users, but if the complaint borders around a particular reason then chances are, they are yet to get it right or maybe they are from the same region and they have some restrictions.

Adbitco

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I can't really write about Kraken exchange and I have barely used them for any trade because we are much familiar with Binance since Binance is the number exchange for Africa we often used it without any hassle regardless of smooth kyc process. Apparently, we can say kraken is a good exchange as I barely hears evil records about them this is to show that it's a good exchange, but whenever you are trading in any centralized exchange you should be very mindful not to leave your funds after trading. The thing is when you make deposit make sure to trade and withdraw your funds as no one can predicted what may happen next in that exchange so the safest is don't store your funds in centralized exchange.

GreatArkansas

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Kraken for me is one of the safest centralized exchange these days, this kind of exchange is OG in the cryptocurrency market. Multiple bear markets, bull markets already passed by but they are still here without any such issues at all.
For me, Kraken is good, just like other reputable exchanges.

JeffBrad12

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Quote from: Hypnosis00 on November 03, 2023, 05:15:29 PM

Kraken may have some issues which make some users get mad at them but still, I'd never think all of those negative reviews are true.
Of course, anyone can make a comment or complaint against Kraken especially if it is mishandled but without knowing their issues in the past seems too unfair to think that their complaint is valid and needs support. I know the team is making those issues will resolves but if the complainant will not cooperate and accept their mistakes, no solution be made. I have used Kraken in the past few days, I have no problem with this exchange and that is because I used to follow their rules and regulations.

people out there should know that different exchange have different set of regulation, some enforce KYC some not, also some will also froze user funds for some reasons.
kraken as far as I know is one of the oldest exchange, it dates back to when bitcoin not even reaching $10k if i remember and still standing strong until today.
I think it speaks volume as to what the reputation of kraken amounts to but still it got beaten by binance in terms of growth.
so basically if someone wanna use kraken i think they will be fine, after all this exchange has been known for too long i think its reliable enough.

Sophokles

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I have been using Kraken exchange for the past few years without any issue. The trading terminal was classic in UI but they have already released their new terminal which is completely user-friendly. This exchange supports all the top altcoin and the most notable thing to remember is that it offers EUR pairs for many altcoin. If you are EU based I think it can be your best option out there as it has a massive user base and enough liquidity to support the market.

_BlackStar

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Quote from: cryptoaddictchie on October 28, 2023, 08:28:30 AM

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

-snip-

I never knew Kraken besides its an exchange in the US.

Based on the information about the exchange - Kraken is one of the leading exchanges in the United States that was founded in 2011. They have fiat deposit options - it includes EUR, USD, CAD, and JPY. I don't use it - but the Kraken Trust Score based on Coingecko is up to 10.

For more information regarding Kraken, you can read the full details here: https://www.coingecko.com/en/exchanges/krakenundefined#about

So far I have avoided many centralized exchanges other than Binance. Of course this is because I am not sure my KYC is safe with them despite the positive response to the exchange that could be considered. Same as you - I don't use Kraken so far even though they is one of the well-known exchanges in the US, but they are not well-known to me.

lalabotax

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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.

Don't trust the reviews on TrustPilot too much. Good can be bad and vice versa here.
Anyway, there will be no exchange that has perfect reviews. Just look at their reviews on applications, whether in the playstore, appstore or others, there will definitely be bad reviews based on their security. So, this doesn't just happen to Kraken.

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.

But what is certain is that Kraken is a top exchange. They have a good reputation so far. It's not perfect 5 stars, but their service, live support, display, and several other things related to Kraken are actually very good. There's no need to hesitate. As long as we can really use and optimize this application, there's actually no problem. And we learn some of the T&Cs so we can use them appropriately. Then it won't be a problem.

Unless it is a low-cap exchange or a new one, we need to be alert. But this is Kraken.

goaldigger

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Quote from: DeathAngel on November 03, 2023, 01:11:59 AM

Kraken is not a scam at all, they are a great exchange with a long history of being trustworthy. I have used them for many years transacting large amounts. They have successful & transparent proof of reserves. Along with Coinbase they are the most trustworthy exchange in the world. Obviously never leave a large % of your assets on ANY exchange long term, not your keys not your coins, but in my experience at least, Kraken is fine.

Definitely not a scam as we all know this is one of the top exchange though some issues are there but still many trust this platform compare to other exchanges. If you are going to invest or trade better to choose the top site and with this, I can say that Kraken should be on your option because you can never be wrong about this site.

Hypnosis00

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Kraken may have some issues which make some users get mad at them but still, I'd never think all of those negative reviews are true.
Of course, anyone can make a comment or complaint against Kraken especially if it is mishandled but without knowing their issues in the past seems too unfair to think that their complaint is valid and needs support. I know the team is making those issues will resolves but if the complainant will not cooperate and accept their mistakes, no solution be made. I have used Kraken in the past few days, I have no problem with this exchange and that is because I used to follow their rules and regulations.

babygun

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Quote from: Natalim on November 03, 2023, 02:33:18 AM

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.

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.

Probably, those reviews whether it was coming from a bot or a group of people who wanted to stop and ruin the reputation of long existing exchange Kraken. This will also tell us that not all feedback/reviews are true, some of them are used to destroy someone like this which gives us a reason not to verify and do further research if possible. In fact, I've been using this platform in the past year before jumping to Binance, I'd never encounter any issue so I believe all of those things are fake.

It doensn't need to be bots who write negative reviews. When people are angry and have complaints, they will always get focal about it and will write a very negative review (some of them are valid and companies can learn from it). Everybody likes to complain and unless your experience is above good, you will not take the effort, to write a review about it.

Natalim

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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.

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.

Probably, those reviews whether it was coming from a bot or a group of people who wanted to stop and ruin the reputation of long existing exchange Kraken. This will also tell us that not all feedback/reviews are true, some of them are used to destroy someone like this which gives us a reason not to verify and do further research if possible. In fact, I've been using this platform in the past year before jumping to Binance, I'd never encounter any issue so I believe all of those things are fake.

DeathAngel

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Kraken is not a scam at all, they are a great exchange with a long history of being trustworthy. I have used them for many years transacting large amounts. They have successful & transparent proof of reserves. Along with Coinbase they are the most trustworthy exchange in the world. Obviously never leave a large % of your assets on ANY exchange long term, not your keys not your coins, but in my experience at least, Kraken is fine.

X-ray

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Quote from: Silberman on November 02, 2023, 06:16:23 PM

Quote from: oktana on October 31, 2023, 02:08:43 AM

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.

First, when you build something, people are always going to complain and make an issue out of one thing or the other. People complained and rated X (twitter) 1 star, Threads got created and they got 1 star from some users, Binance which happens to be the world's leading crypto exchange platform has a lot of 1 star rating. Secondly, it could end up being that some folks just want to bring them down, because I truly do not understand how 63% of their rating on Trustpilot is 1 star while other platforms think highly of them with 4.5 - 5 star ratings. It could be bots but most likely triggered by an angry fellow. I'm saying this because I've actually witnessed a few projects go through such.

It is because of this that reviews without any evidence are not to be trusted, and many of the forum members agree on this, since someone could make an accusation on any service but without proof it means absolutely nothing, it is only once the accusation is accompanied by proof in which the forum members will take a serious look and see who is on the wrong, however this is very rare nowadays as people post whatever they want on websites like trustpilot without evidence and those reading it end up believing it.

True, i have seen kraken was also making an event for anyone who newly registered and complete their KYC will be credited with $10 futures balance. I have some friends were participating in this event and kraken was paying the profit generated from the future balance.
This exchange site most trusted exchange site. It seems like the competition has already ended and i think that any bad comments regarding this exchange site were obviously fake. Kraken is still being trusted by so many people at this moment. There's no feel doubt to use it.
People are still actively using it and kraken was really paying what it has promised. I dunno why people keep rely upong the review from the trust pilot. Trust pilot can be faked so easy by paying a group to make faje reviews without even trying the product.
I hope people will be well educated then regarding this problem. The fake review was also trapping anyone into the fake exchange site.

JeffBrad12

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the fact that they existed from years ago when bitcoin isn't this big could only means they are doing pretty well internally and externally.
even right now they are gaining massaive new customerbase because of certain events. about the closing of account without any apparent reason I think this not only happened in kraken but many exchange out there,
to be fair, these exchange that have gained fame and popularity are actively doing this to ensure that they obey the law.
its not like they are deliberately trying to close off account just because they want to, after all these are their customers, but they knew there might be legal reason that caused such decision.

livingfree

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One of the oldest one.

Good thing that it's still there alive and operating because I am thinking of the people that are employed through that exchange. So, that means that it's giving livelihood to its workers.

As for the reviews, someone can pay good or bad ratings to entice people on how both of them are.

Check for yourself and see if those ratings are right or wrong but just do it like with small amount money you afford to lose.

Silberman

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Quote from: oktana on October 31, 2023, 02:08:43 AM

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.

First, when you build something, people are always going to complain and make an issue out of one thing or the other. People complained and rated X (twitter) 1 star, Threads got created and they got 1 star from some users, Binance which happens to be the world's leading crypto exchange platform has a lot of 1 star rating. Secondly, it could end up being that some folks just want to bring them down, because I truly do not understand how 63% of their rating on Trustpilot is 1 star while other platforms think highly of them with 4.5 - 5 star ratings. It could be bots but most likely triggered by an angry fellow. I'm saying this because I've actually witnessed a few projects go through such.

It is because of this that reviews without any evidence are not to be trusted, and many of the forum members agree on this, since someone could make an accusation on any service but without proof it means absolutely nothing, it is only once the accusation is accompanied by proof in which the forum members will take a serious look and see who is on the wrong, however this is very rare nowadays as people post whatever they want on websites like trustpilot without evidence and those reading it end up believing it.

Belarge

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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.

Just passed through the reviews, I've come across both positive and negative comments, but we shouldn't believed everything negative that's been stated out about Kraken, also we should not believe every positive comments, these are made just to boosts the enhancement and popularity of the app. The moderators behind this project should have understand one thing clearly, once an exchange is able to entrapped traffic and it solves the major problems of a user, there will be absence of struggles among traders and investors. There are too many competitions between these crypto exchanges in the system, and investors and traders ought to register with the exchange that do actually settle their complaints.

oktana

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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.

First, when you build something, people are always going to complain and make an issue out of one thing or the other. People complained and rated X (twitter) 1 star, Threads got created and they got 1 star from some users, Binance which happens to be the world's leading crypto exchange platform has a lot of 1 star rating. Secondly, it could end up being that some folks just want to bring them down, because I truly do not understand how 63% of their rating on Trustpilot is 1 star while other platforms think highly of them with 4.5 - 5 star ratings. It could be bots but most likely triggered by an angry fellow. I'm saying this because I've actually witnessed a few projects go through such.

mich

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Well I have a account at Kraken but I do not use it so much these days that much. I do like the security features it has, and it does have some lower fees then other crypto exchanges.

I did learn it will now start to give out 42,000 usesr data to the IRS. It is for users that have $20,000 in their transactions from 2016 and 2020.

https://finance.yahoo.com/news/crypto-exchange-kraken-start-sharing-065202078.html

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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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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Eloncoin.org - Mars, here we come!

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

jr. member

Activity: 32

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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

legendary

Activity: 1582

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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

sr. member

Activity: 2100

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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

member

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Binance #Smart World Global Token

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

legendary

Activity: 3066

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Leading Crypto Sports Betting & Casino Platform

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

hero member

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fillippone - Winner contest Pizza 2022

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

jr. member

Activity: 32

Merit: 3

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

hero member

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Leading Crypto Sports Betting & Casino Platform

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

hero member

Activity: 2926

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Leading Crypto Sports Betting & Casino Platform

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

hero member

Activity: 1540

Merit: 744

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.

MAAManda

hero member

Activity: 1484

Merit: 706

I've checked several pages for Kraken 1 star reviews on Trustpilot, and it only shows 2 reviews about account closures for no reason. If only 1 to 10 reviews discuss this, it's possible that these users have unknowingly violated the ToS on Kraken.

Jordan Bajic: https://www.trustpilot.com/reviews/653b904b72bbbf91c23f3f72
Toanui Llaona: https://www.trustpilot.com/reviews/6530d07d56df24271b3ce273

Currently Kraken is one of the many old exchanges that still exist today, if there's a problem in their background, of course it will be exposed and reported in mainstream media related to crypto. So, it looks like it's just a misunderstanding, maybe as soon as possible they will get the best solution for both parties (Customers and Kraken).

Wiwo

hero member

Activity: 1022

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Leading Crypto Sports Betting & Casino Platform

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.

hey from the start off, I personally don't trust truspilot because we have so many unfair rating on that site and it has been proven a lot of time that the reviews on Trust Pilot are not 100% accurate and sincere and this has made a lot of us who are aware of the issue to distrust that site.

So if you are looking to promote any project here, then you should go straight to the point and involve any third-party review site in it.

RaveniaPX

jr. member

Activity: 32

Merit: 3

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.

Topic: What do people think of Kraken (Read 263 times)