It’s always difficult to know for sure how trustworthy those reviews are, but you want to trust the people you’re transferring your hard-earned cash to. Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more. We also considered if the exchange is regulated by a proper agency or entirely decentralized. Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review. These customer service complaints are concerning, but it’s important to take both positive and negative reviews into account when choosing a cryptocurrency exchange.
He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users. Yes, Kraken offers Futures and margin trading, though people in Ontario are restricted from these services. Kraken has high volume which means more liquidity. It is also the top crypto exchange by euro volume in the world, meaning it is one of the top exchanges for bitcoin liquidity.
- Kraken Pro is an active trading platform that works through your web browser or smartphone.
- These include top coins like Bitcoin, Ethereum, and Cardano.
- Eight fiat currencies are supported including USD, EUR, and GBP.
- Approved customers in other locations can still stake select coins on Kraken.
- Kraken takes its commitment to security seriously, ranking second on the crypto exchange security review site CER.
What is it with holding funds…banks are more liquid. This whole thing defeats the purpose and does not look like the US is going to be crypto friendly country. I started with investing $350,000 and went up to professional and when I tried to withdraw, nothing happened, they didnt pay me. Luckily i came accross a forensic expert who helped me recover my lost funds. I’d recommend the expert that helped me recover mine to anyone who has been scammed. Write to the official address page at resucrsc’com with the referral A1, requesting they help you recover your funds back.
Although Instant Buy is an easy service to access and use, its high fees can chip away at a user’s wealth. Instant Buy allows users to instantly trade cryptocurrencies on Kraken’s exchange. In fact, to use Instant Buy, Kraken Starter users can be verified in under two minutes and immediately begin trading. Advanced traders who use the Kraken Pro trading platform are charged very reasonable fees, and also benefit from access to a wide range of cryptocurrency trading markets.
Once you’ve done that, you can enter the amount you wish to purchase and review the transaction. The Instant Buy option is much more simple and perfect for those looking to make a quick trade is kraken legit or purchase with their card. With that, we bought bitcoin using Kraken’s Pro platform. Imagine how your family will stay with no money and no food , I hate you from all my heart…..
No customer support!!!!
Kraken Instant Buy charges a 0.9% flat fee for stablecoins and a 1.5% flat fee for all other cryptos—these fees are not at all competitive. I think I was a little unkind when I said their exchange was a little tricky to use in my last review . If you are new to the crypto world, we’d recommend checking these best crypto exchanges in Canada. At OCryptoCanada, we like to give people knowledge to become aware and catch up in the cryptocurrency industry. Cryptocurrency will be one of the main medium exchanges in the future. Our team сonstantly checks news & changes in the crypto world for Canadians.
You can create different two-factor codes for sign-in, account withdrawals, and trades. There’s also a feature to lock your account from any changes if you’re concerned that your account was breached. For instant purchases, Kraken will charge a percentage fee of the transaction and likely a spread as well. The fee for your transaction will be displayed before you confirm it. Additional fees based upon your funding method may also be charged such as credit card fees.
Who Is Kraken For And Is It Worth It?
You’ll get 1-on-1 support and full asset support 24/7. If you wish to deposit funds instead, you can click on “funding” at the top of your dashboard. Then enter the amount and select Interac as the deposit method.
As there was no contact after a full week, I contacted support which requested picture with handwritten note plus ID-card. I complied even though the account already showed up as verified, but they did not accept my picture as they “couldn’t see both arms” (try doing a selfie with both arms visible, haha). When I mentioned that I already sent the requested picture, they immediately replied with a message that they will close my account in 72h, no reason give “for security reasons”. I was also forced to convert the BTC I already bought back to cash (for a fee) instead of transferring them to my wallet (which is why I bought them in the first place).
Comparing Kraken to Other Leading Crypto Exchanges in Canada
Kraken Bitcoin Exchange has a rating of 1.38 stars from 53 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers complaining about Kraken Bitcoin Exchange most frequently mention customer service problems. Kraken Bitcoin Exchange ranks 7th among Centralized Exchange sites. No communication or customer service or support.
Does Kraken offer margin trading?
Beginners can get by with the main Kraken platform, while advanced and expert crypto enthusiasts may prefer Kraken Pro and the advanced margin and futures features. Kraken is an “ok” exchange for Canadians to use since it has a lot of features including staking and futures trading. Deposits and withdrawals are fast and Kraken has a very low spread and trading fees. If you are ever approached by an exchange to provide information or money, always double check the official email address or social media account of the exchange. Exchanges should never ask you for money, so if you are being requested to deposit funds, be aware that it’s probably a scam. Check out the article on common crypto scams in Canada.
All of my tickets are resolved and the support team is killing it. Thank you guys for being such a stable business partner. For users who opt for Kraken Pro, fees are considerably lower.
Kraken Pro offers lower pricing and is available to anyone with a Kraken account. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Today when I was logging in to my Kraken account, I just wanted to appreciate you because of how thankful I am. I have had a business account in Kraken for 4 years and had zero problems.