Kraken: Buy Crypto & Stocks

Kraken holds your deposits for more than 7 days. They make outrageous claims and use fine print to nickel and dime you to death. I ended up spending $140 just to withdraw $350 of crypto. Their misleading policies and systems make it extremely hard for somebody like myself to navigate buying and selling crypto. Unless you are extremely knowledgeable about crypto, do not use Kraken. They take advantage of people who are new to trading and they take huge commissions and fees out of every move you make. After a week of losing tons of money to their fees, I finally signed up for their monthly program that was supposed to give me free trades. Nope. That’s a lie too. They stop taking commission but they make up for it with fees. They charged me $8 to convert $170 of one crypto to another crypto. Absolute garbage. Then I went to their live chat which is an AI. No help. So I finally got in touch with a human who told me they won’t do anything to help me. Kraken has been a horrible experience. And what’s crazy is I’m not actually new to crypto. I just haven’t traded in the last five years and all the exchanges I used to use are all gone so I decided to try Kraken. I was using Robinhood for a while but they don’t offer all the different currencies offered on Kraken. Robinhood has fees and commissions but their policies are more clear and they seem to be more honest and I prefer them. Kraken is nothing but a scam. Stay far away. I promise you will lose more money to their fees than you can imagine. Pure scam.

Hello Kraken, long time user. Kraken is my primary exchange. I think it is solid across the board. 2 things I wish could be added to elevate user experience in the positions tab of the Pro app version. I’d love to see a line chart reference vs just a +/- percentage and a DCA price of holdings to get a quick glimpse of where you’re at with price average so you can quickly see if current prices are +/- or even with your avg cost. Im constantly switching to other tabs on the Pro app or other apps for price trends due to not having these features on Pro, not to mention needing to tap in and out constantly to see the line charts on each coin. Its just easier to switch to a different app, forgive me for saying so.. but Robinhood has what I’m talking about and I open that app first then go to kraken when ready to trade. This has encouraged me to also start trading on Robinhood which I likely never would have done otherwise had I not found myself constantly on their app looking at charts of all favs all together in one tab that is also customizable by preference of order not just price, balance or % change. Sometimes I want them in a specific order that I’m trying to prioritize or watch them in and I can’t on Pr, I have to scroll up and down my position or favorite list endlessly so I find it quicker, easier and less frustrating to use a different app, then come back to kraken. That last item, customized list would be a 3rd feature I would love to see. Thanks again, I do love the exchange, just hoping for some additional features on the Pro app.

App is always up. Doesn’t try to force Authenticator apps on me like uphold did and none of which worked. Processes transactions lightning quick. Withdrawals to cold wallet work fine. App has never once crashed on me. Wire transfer deposits credit same day while Uphold makes me wait 4 days. Some have said difficult to withdraw but I’ve only been slowly accumulating via DCA so I cannot speak to that. I’m happy with Kraken. Together with uphold is has the easiest to use interface for searching, reading price graphs and executing trades. Two small suggestions for future upgrade: (1) uphold tabulates and shows average cost or any price paid to date for each crypto balance when you click on your individual holdings. It’s a nice feature to have on red candle days when you want to see your average cost. (2) would be nice if allowed a memo to be added to the trade. Uphold has this on a preview trade screen before you click to confirm. I like to have a reference I can type in on a transaction like “bought addit $100 of XXX on 5.4% dip to 0.45 avg cost 0.48.”