Kraken Bitcoin Exchange
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Kraken Bitcoin Exchange

How would you rate Kraken Bitcoin Exchange?
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Pennsylvania
1 review
0 helpful votes
Follow Roger R.
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Had my account closed without explanation and was given only 72 hrs to close the account. Here is what they sent via e mail to me over a wire transfer into my account which they acknowledged in my Kraken account transactions but it never showed up in my account balance.
"Unfortunately, we must inform you that we will be closing your Kraken account. For security purposes we cannot disclose the reason for this action. Kindly note that you may no longer use our services. We appreciate your understanding. Your deposit is being returned to your sending bank, please double check your bank statement for confirmation of the return."

Kraken did return all my funds including the wire that never showed up into my account.

I originally opened my Kraken account with a small wire transfer from my bank account & everything went smoothly. Bought some Bitcoin and paid a small bill, all with no problems. I sent a second wire transfer of +$******* to fund my account with the identical info on the bank wire to pay a large bill. The transfer showed up in my Kraken account transactions but not in my account balance. I called customer support & they said it will be handled via e mail from, their "special team". You CANNOT talk to the special team, only via e mail for security purposes? Sending info about my account transactions over the open internet via e mail IS NOT SECURE. After 6 phone calls to support without resolution, I reluctantly sent my info anyway via e mail and got the above account closure e mail with NO EXPLANATION. I talked to customer service afterward and demanded to speak to a supervisor or manager. Told no one was available. I tried to call later many times phone and got a busy signal but I was able to get thru on my wife's phone. I think they blocked me.
BEWARE OF KRAKEN. In my opinion, the Kraken platform is NOT secure and their customer service resolves issues by closing your account and bans you.
If I paid the bill in Crypto in 3 days, I got a big discount (+$4000). I lost that discount due to Kraken ineptness.

Date of experience: June 1, 2023
North Macedonia
1 review
0 helpful votes
Follow Cezary P.
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Inwestowałem za pomocą ich aplikacji na tradingstools, broker sam wskazywał że wszystko musi iść przez krakena. Okazało się, że zostałem oszukany i inwestowałem na fałszywej platformie z pomocą krakena! Wszystkie pieniądze szły przez nich. Nic nie udało mi się wypłacić z platformy, namawiali mnie tylko na następne przelewy mamiąc zyskami.
Moją sprawą już jest w prokuraturze i zajmują się nią prawniczki z kancelarii do której się zwróciłem. Zresztą mogę polecić kancelarie, bo uświadomili mnie o wielu rzeczach i wyjaśnili w jakiej sytuacji się znalazłem. To numer503 do122 nich208.

Date of experience: April 2, 2024
Texas
1 review
0 helpful votes
Follow Nick Z.
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Very unprofessional to do such a thing I don't approve. I'll gladly change my review once shiba inu is listed

Date of experience: November 5, 2021
Oregon
6 reviews
12 helpful votes
Follow Marie M.
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Stay with Coinbase
August 5, 2021

The one and only reason I joined Kraken was to buy into the crypto Ripple. Ripple was shown to be available on their trade page. Nobody has Ripple... that I know of anyway. I entered all my information except for a recent pic. I don't have a cam just my smart phone. I figured they had everything else and it wasn't a problem for Robinhood, Webull, Coinbase, and Ameritrade( Yes, I have accounts with all of them).
When I went to buy Ripple I found out that my account was limited. I contacted C. S. (through email) explaining to them that I wanted to buy Ripple but my account was limited. I was told I needed to be at the Intermediate level in order to buy Ripple. Fine, I took a pic on my cell and attached it.

I then tried to fund my account so I could begin trading but I couldn't find it anywhere. When I did finally notice it, I found that you can only trade with crypto or USDC which means more fees for me. I contact C. S. again using chat asking if it was possible to use my bank account instead (most companies use Plaid). I was told that I could only fund my account with coin. It only cost me $2.50 (not too bad) so I funded my account with USDC.

I went to buy Ripple only to discover that it isn't available in the U.S. I contacted C. S. about two more times... no resolution. The fee to send my money back was $7.50 which is a rip-off. I paid it because I was unwilling to keep an account with this company when they not only charged such an exorbitant fee but they didn't offer to wave it either. I lost time plus money for no return. Wow, I was upset all they had to do was have it on their screener that Ripple isn't tradable in the U.S. (Coinbase has it visible on all crypto that they don't support so there are no mistakes) and I wouldn't be spending my time writing this review.

I found Customer service to be unhelpful, and somewhat snarky... either the employees don't care, or the company doesn't care and it bleeds through to their employees.

Date of experience: August 5, 2021
Italy
2 reviews
3 helpful votes
Follow raffaele b.
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I got banned from r/Kraken and r/CryptoScams just for asking why my deposit is missing.
Trustpilot is also deleting negative reviews!
Has anyone else experienced this issue?
I have reported Kraken to the FCA UK and will escalate further.

Date of experience: February 28, 2025

Overview

Kraken Bitcoin Exchange has a rating of 1.1 stars from 65 reviews, indicating that most customers are generally dissatisfied with their purchases. Reviewers dissatisfied with Kraken Bitcoin Exchange most frequently mention and customer service. Kraken Bitcoin Exchange ranks 50th among Centralized Exchange sites.

service
41
value
38
shipping
12
returns
14
quality
38