The exchange is good but the UI basically takes you back to 1998. It would not be a problem if it was fast but it is definitely not. Also, sometimes transactions doesn`t go through the system and you need to refresh the page and redo the whole thing. I understand that it is because of the high volume of users trying to transact, but I guess the transaction fees are there for a reason (hint: improve on website/increase speed/etc).
For me by far the best centralised exchange. While lot of people are complaining the site is slow, complicated and they have high withdrawal fees or don't accept debit/credit card. I like its advanced trading options well documented in their blog and YouTube channel, funding in Euros are very fast and they strongly focus on privacy and security. This is the oldest still working exchange (2011) and if their service was so slow to scale, I bet it's because they host most of the Infra and have their application layer homemade developed. On the privacy and security aspects, this is the only exchange supporting PGP encryption for eMail notifications and supports both TOTP and HOTP method for 2FA that you can have different for many actions (login, trade, withdrawal...). Furthermore, you have decent fiat deposit and withdrawing levels by only justifying your name and address ( without sending any picture or passport ), their KYC is very fine grained and perfect for small trade too. And I almost forget, they interface pretty well with TradingView.
Ugh, Kraken. I wish I could give 2.5 stars. Man, life is SO hard... Pros: - low fees - a fair number of altcoins available - not Coinbase Cons: - horrific UX/UI. Made by developers with no input from a design team. Example: intermediate and advanced trades trying to switch buy/sell between currency pairs and having fields and buttons maddeningly greeted out or switching back automatically - the mobile app is 💀🔪 - I'm still kind of in shock that they had their site down without warning for system upgrades. Oh I'm sorry, they did notify their clients... on Twitter. TWITTER. Can you imagine if the NYSE just didn't open one day for trading and only casually mentioned it on social media as people started flipping their shit?? - jumping through hoops to add a new address for withdrawal is annoying when time is of the essence in crypto world - it's semi-illogical of me, but their withdrawal fee irritates me. Like they trick you into the whole "Kraken has low fees" thing and then bust out this little "gotcha!" at the very end when it's too late - sending wires vs electronic transfer for USD??? Seriously?! You're in SF and you're a damn crypto exchange! At least Coinbase integrates electronic bank transfers and credit card purchases Tl;dr Imagine a cryptocurrency exchange in 1996 and it has a Xanga site that uses flash and dialup.
A few month ago i did start the registration process on kraken.com... Before you can interact with the tradingplatform, the website will leads you through serveral verification processes. There are catergories from Tier 1 up to Tier 4 and you will need at least Tier 3 for deposit/withdrawl funds. Big plus that Kraken gives their users some kind of safety. Once you come comfort with Bitcoin you'll be glad to have that kind of protection for your money. Once you can fund money, you have to deposit (at least 1 EUR) on their FIDOR Bank accounts, remember you dont need a own FIDOR bank account for trading. Its not that easy to get a clear view trough their site but its not that difficult to understand it. Another good point argument is KRAKEN has low fees, thats what makes their service attractive. I just got a TIER 3 verification proofed and send 11,50 EUR for testing their services. Just 20 Hours later the deposit arrived on my account. The next step is to withdrawl (at least 5 EUR) before I really start funding bigger amounts. There are serveral option for 2 Factor authenification so I tell you its really safe for happy trading on KRAKEN.com #ToTheMoon