Interesting Bitcoin News Today (Electrum, BitPay, Blockchain.INFO, Kraken)

in bitcoin •  3 years ago 

Kraken Support Not Replying

Ive never used that exchange but people claim to not have tickets replied since long time. Luckily as ive reported lately Poloniex stepped up and fix all ticket issues now. Hopefully Kraken does that soon too.
Interesting that when i scroll down main page of Kraken and click on "Support" link i get to dead page [edit seems fixed now]

Support link is located here - https://support.kraken.com/hc/en-us

BitPay Comes to Windows Phone


BitPay is the biggest company allowing sales of stuff for BTC - they are the gateway for sellers. They also have a popular Prepaid BTC card that loads of people use and can be integrated with app. Yaay for Windows Phone!

Electrum Testing Chain Split


If you follow my blog or BTC news you may be aware that on 1st August its possible BTC will split into 2 chains. Exchanges and wallets are now working on a way to detect the split and act accordingly. First one to publicly admit their tests was electrum - for which i have done some guides here before. Interesting times incoming people.

Blockchain.info raises 40 Million Funding


The most known and possibly most hated online wallet just runned series B of funding and got 40 millions. I always suggest to use wallets that let you have your keys - if you store coins in exchange or wallet - they own the coins not you. Anyways with the money hopefully they will develop some cool stuff. Worth noting they didnt do ICO like everybody now. Just usual fundraising from VCs.

Today Top Volume Exchanges


ETH LTC and ANS are rocking it for now, USD on good place too but fiat pair of KRW is on top.

Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips!

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Thanks for the info great post once again that ETH drop was crazy im surprised kraken went down as well.

The problem is finding an exchange with enough liquidity to trade larger amounts without a ton of slippage. I have a serious amount of STEEM stuck on Polo right now and I am not happy at all.

Apparently poloniex has like 600% gain of new users in the 1st quarter of this year so there tickets are backed up hench why they removed the troll box and got the moderators to help with the tickets. Warning to any new poloniex users .. it's will probably take you ages to verify your account for any withdrawal so beware!!

Perhaps they should raise $40M just like Blockchain.info to upgrade their organisation.

I'll recommend the Open DEX OpenLedger.io. It may not have the same liquidity, but it's secure.

The interface looks the same as BitShares. Are these two related?

They are. If I'm not entirely wrong, bitshares is the platform while openledger is a DEX that uses the bitshares platform.
Openledger has many UIA like the Open.GRC, Open.BTC etc.

Please correct me if I'm wrong here anyone.

they prolly get that in trading fees in a week

Perhaps there's some other alternatives compared to Poloniex? All the exchanges seem to have flaws.

I feel like there should be a kind of company that should handle that kind of stuff... would make things so much easier and faster!

@johnsmith I don't have any STEEM so i'm even less happy :)

What exchanges would you recommend?

Bittrex is a nice exchange, simple and has a lot of altcoins!

their withdraw limit is really low

Bittrex is a good alternative and their graph layout and tools are awesome.

on my opinion ..just go for paper wallet . as i dont trust exchanges ...

The trouble is: paper wallets do not exchange very easily.

I like paper wallets, but it's for long term hodling, not if you want to easily trade.

Poloniex if you can get the level2 verification but that takes ages!

thats how i know u aint been in crypto for more than a cpl months

I think Bittrex or Coinbase

i use bittrex as well. not super intuitive at first but works well once you figure it out. if you've been using other exchanges already it may be easy from the start. i haven't had any problems with my trades or anything else.

What is another alternative?

polo is best alternative....

unless your withdrawal ends in limbo, which can anytime happen, e.g. Siacoin - it took a week (but finally all worked out)

  ·  3 years ago (edited)

I have heard that Poloniex maybe a scam and people aren't getting paid seen a few Youtube video's on this of other complaining that it's a major scam. Many people I know cannot withdraw they either have a bug in their system or it could be possible right that it's either a scam or going scam, but don't take my word for it because only time will reveal.

I have not had any trouble withdrawing my funds and the transactions have been very fast. But bittrex is a good exchange as well but it´s a bit messier

Yes, I agree bittrex is messier but a good exchange @amadat

Is Blocktrades safe?

I have not used it much but it works flawless. I am not sure how competitive the traders are. That is usually not my concern when trading with Blocktrades.us. I use this site because it is a convenient currency exchange. It is not really a traders exchange.

I use kraken and polo for most of my trades. They have replied to all of my requests. Works fine. I promise

Thanks for the info.

interestingly one of the quick way to be a millionaire these days and something normal people will ignore, is to participate in cryptocurrency. think about how much it has increased since few years back.

Ive quit that exchange over a month ago :)

Woa, but what's the alternative then. Bittrex, OL?

yep, bittrex is great! or, if you are wanting to sign up and get verified try https://www.btcc.com/ I was signed up and verified within 2 hours! I applied at kracked the same day and am still waiting, that was over 3 weeks ago. of course remember the first rule of crypto.. never leave large amounts of coin on any exchange ;)

Poloniex wanted an id proof from me just for depositing crypto. Is that anywhere else common praxis?

Not at Bittrex

In Poloniex the strange takes place, all transactions are suspended

There you Go!

Thanks for the insights @teamsteem! I appreciate all you do to keep everyone informed and educated.

what about bittrex?

The video version of why you shouldn't use Poloniex for Steem:

Everybody is saying that people shouldn't use this or that exchange... First Bitfinex, Poloniex, Kraken...

What we need is decentralized exchange!

Thanks @sauna.
Also check out my new posts...;)

Yeah my SBD got lost on Poloniex and never went through. pretty sad thanks for this article

post support ticket they will help you today i lost my etherum w while exchanging so i raise support ticket and within 2 hours my all etherum in my wallet good luck

Thanks for the news brother, upvoted 100% and followed

  ·  3 years ago (edited)

Poloniex I'm still waiting for my 3 weeks pending ticket.
At least openledger answered my email in about 2 days, asking what is my account name which I included in my email. :)

Nice to see electrum testing, they are my favorite wallet. I hope they're testing multiple different scenarios, I think we could see more than one fork!

Please follow me dear so that i can increase my reputaion

@mynewsteemit I think its a possibility

I can confirm Kraken support is extremely slow right now. Been waiting more than three weeks for a simple account verification. No response to follow up tickets.

try btcc.com, I was verified within 2 hours!

I was the same in regards to a Euro deposit. It was just sitting "on hold" in Kraken for like 10 days. Previous tickets about general questions sat unanswered for like 3 weeks! Then someone suggested I contact their guys on Bitcointalk (Dargo is the Kraken guy's username). Within a day I had been contacted by 3 or 4 of their agents apologising for delay, etc and they got me Tier 3 verified and sorted out the deposit.

I'm in the same boat, and I submitted the information for verification about 4 weeks ago. Today I logged in for the first time in awhile, and it's still listed as processing. My Bittrex account was all set in a few days. Wonder if Kraken will finally have me verified when I log in next month? 😂😂

Thanks for the heads-up, safety first right!?! Some good news in there too, BitPay on phones too, pretty cool!

Namaste :)

Great info, and wow your rewards are HUGE. Congrats! Please follow, I have some amazing posts planned.

Thanks!

: )

#payitforward

Good stuff as always crown!

Doing my best here :) Thanks!

  ·  3 years ago (edited)

With your earlier post on Jaxx, I moved my crypto to copay
Now with this post, I was little soft cornered to Electrum.

The question is..... Is it better to stay with Copay? Can you suggest which one should go with according to your point of view?

Right

Perhaps I can add a bit about Kraken: They have a good website and the automated verification system is good enough. But if for some reason you end up needing Support, you're screwed.

With me they took two weeks to answer with an automated email that essentially said "If you still need help please send another ticket, if not, good for you".

However, most exchanges are struggling like that. Just a lot of people joining the scene. In general it's best to avoid Support as much as you can. And if you do have to talk to someone, remember to be polite, that alone will probably move you higher in the queue.

Do you think this will improve soon?

Thanks for sharing!

I use Bitfinex and I have never had any problems with support. My tickets have always been replied to within the hour.

Bitfinex was great till they got hacked. Took them 8 or 8 months to repay all the ppl. But yes they do have good coustomer service

The fact that they paid everyone back highlights the value they place on their customers and on the business. That is something Mt. Gox couldn't and didn't seem to want to get involved with. I was one of many who lost 1/3 of my Bitcoin holdings on Bitfinex and I've been pleasantly surprised with how well they managed the situation. Hacks will continue to happen in the wild wild west world of crypto for some time to come. Just have to be on the lookout for valid players in the space. I certainly believe in Bitfinex and Coinbase at this point

Its good to know your opinion of Bitfinex. I didn't have a Bitfinex account when they were hacked so I didn't lose anything. My premise was that they would be safer after being hacked because they would up their anti-hacking capabilities after that.

Certainly true. One price we all pay regardless is that price takes a hit in the short term when these things happen. But it's better for it to happen now then when the space is much much larger in the future. Though, I'm sure this will always be a constant battle and we'll just have to deal with volatility for the foreseeable mid term as the space matures beyond being considered a "bubble" and "ponzi scheme" as the mass media and banks like to highlight

yes true 100% agree with you

seriously kingscrown mentioned the best solution in the article above.
too many people are not aware of that, keep your hard owned money for yourself in a self secured walled on your laptop, and you will not need to contact any support or bother yourself with anyone

To me, the problem is how hard it is to trade directly from personal wallets. Which has some solutions, but none as confortable as am exchange.

Not to mention hefty fees (and sometimes way off rates) on in-wallet exchanges.

You could try Bisq (formerly named: BitSquare). It is completely P2P exchange with an escrow mechanism. I have not tried it yet though for a real trade.

I hadn't heard of it before but it looks pretty promising, thanks for sharing!

Hey there, use openledger the de-centralized exchange. https://bitshares.openledger.info

Thank you for the info.

Please follow me dear so that i can increase my reputaion

Thank you always!

This is a drawback for new people investing. All these companies with the struggles like they are having. It scares people when they read about things like these. And they flip out too soon after something goes wrong. Instead of giving it time like it often needs. I'm scared to leave my coins in jaxx, and scared to leave them in polo, I hear bad stories wbout everything else. But now I'm moving it all to bitshares. If Dan made it, I have to trust it. Can't be worse then all the other scary places my money is right now. Steemit seems like the safest place to keep money to me. Sorry for the long winded response!

Thanks for your post! I bought ETH on Kraken when it was 7 USD. One day I forgot my password and set a new one and then they wanted to see my ID. I forgot about it and though 'I will send it if I want to withdrawal my ETH later.

Now the ETH is worth a lot of money and about 2 months ago I wanted to send it to my hardware wallet to secure it better. My withdrawal got canceled and I send a support ticket. I didn't get an answer, only an excuse that they were busy. I tried it another several times, but without succes.

Then about 1 month ago I felt ETH is overvalued and wanted to trade a part back for BTC. I couldn't trade also and my support didn't get answered too.

Then I tried to send it to my hardware wallet again a few weeks ago, my withdrawals are on hold till today and I cannot do anything. It is really annoying, because I want to take profit on my ETH, I expect a big crash anytime soon. If this happens they make me loose a lot of money!

This morning I received an email from Kraken that my withdrawals are executed! I just checked and they are. Did someone of Kraken read this post or is it coincidence? In any case i am very happy! Thanks!

More thank likely they read it. Theres a lot of shady things going on in the crypto world. I tried to address a few of them for newcomers sake.

I'm curious, why would you feel ETH is overvalued at $300? Do you think BTC is overvalued at $2700?

  ·  3 years ago (edited)

I think BTC is undervalued and ETH is overvalued at the moment. Bitcoin has seen a solid rise since 1014 and is just a little bit more than doubled since the previous ATH. Furthermore the scaling debate has pushed the price down over the last years. Also the mainstream media is always negative about BTC, while ETH is hyped. I think many people underestimate the strength of 2nd layers on BTC after Segwit gets finally implemented. This could suck all the money invested in alts back to BTC.

ETH is for sure very interesting, but more than 15 times rise in price after it's previous ATH is a lot and the security of the ETH blockchain is a joke. Further I expect scaling or security problems to pop up in ETH and seen the recent rise in price there is not much needed to cause panic = crash.

Also RSK is coming soon and could be serious competition if their promise is true (faster, cheaper and more secure).

I will sell half of my ETH for BTC and keep the rest for long term.

Negative, bitcoin prices are currently fluctuating but it's very steady. I still wish I would've invested back in 2012 when bitcoin currency could be purchased for $12 each. Now, you can sell one for $2.6k. Talk about return on investment😅

Mt. Gox wasn't prepared at all to handle a billion dollar asset, but I believe Bitfinex has the tools necessary and are steadily increasing their infrastructure.

I've also been waiting a week for support at Gemini.com to answer me about a wire transfer that made it there but they haven't posted the funds yet because my bank didn't include my originating account #. It certainly is hard to get things fixed when they don't respond. Just too many customers and not enough staff.

LTC is deff rocking it!!! good point tho about blockchain.info, not your keys, not your money!!! resteemed

what do you think about My Ether Wallet?

idk how i feel sending keys over the net like that

You can use it offline too, generate keys and send crypto etc.

i opened my kraken account six months ago and has never been verified.i don't know why

You should take a look on it again dude :d

Poloniex is finally waking up getting to some open support tickets!! I think it is because they finally got rid of the trollbox.

STEEMIT should open a live trollbox :)
^^^UPVOTED^^^

The support on the exchanges, kraken, bittrex, poloniex is no where near ready for the masses

Another great post as always :D

whats the best all in one wallet out there?

I use Exodus and it seems to be one recommended by many people, so far no problems there. I have heard Jaxx desktop being "hacked" with the contents drained.

What do you think of My Ether Wallet?

I've not used it but it seem it it pretty common. I have not heard or read anything bad about MEW. It is also compatible with accepting token from ICOs.

It's almost like a paper wallet, you control your own private keys.

Really liking MEW.

yeah i use MEW for ETH & ETC and it seems ok. No problems encountered. Use Electrum for my BTC, LTC and STRAT. Spread out the risk. The only problems i've had dealing with cryptos is with the damn exchanges, never the wallets.

Actually just checking out Exodus, looks pretty amazing

Actually downloaded Exodus and got a warning from my computer saying this type of file can harm my computer. I didn't get that with myetherwallet or anything else.

I think you get that message with anything that is not Microsoft. I assume you have a windows machine. Anyway, I think MEW is an online wallet. so you don't need to install anything.

  ·  3 years ago (edited)

MEW is offline as well. You download an encrytped wallet to your drive. I tried it on both a mac and PC same message, never got that from any other program I've dl'd with Cryptocurrencies. Don't trust it at this point.

Just use something you feel comfortable with. Assume you downloaded from the Exodus site. Anyway just use something you feel comfortable with or you can send an email to Exodus and ask them about it. I searched for a suitable wallet and found many users especially on Steemit were using Exodus.

yes of course dl'd directly from Exodus's site, got a weird warning when downloading, not taking a chance even though Exodus looks legit, thing is a lot of these sites can look great, I'm sure Mount Gox looked great but look what happened there. Not saying Exodus is a scam at all, just saying when I downloaded their program I got warning messages on my computer.

Hold up! I TOTALLY recommend Bitpay! My card recently came in about two weeks ago. It is great, when you need money or want to enjoy your earnings, you can just transfer bitcoin from your wallet directly to your card and it is ready to use!

This card just works as a credit card but is funded with Bitcoin?

It works more like a prepaid visa card. Therefore, you load the amount of bitcoin you want to use and it transfer the amount of bitcoin into USD.

Does it also work with euro?

Thanks for sharing such great news @kingscrown. I am shocked by knowing about unavailability of kraken support. After poloniex, I was thinking to give a try to kraken but it looks like I will have to get more revies of that.

Kraken support is the worst support. It takes them weeks to respond to a support ticket. One of my friend's account was locked and it took him a number of support tickets and email and 4 weeks to get it unlocked.

They do not have any telephone number either.

Other than their poor support, the interface is great allowing for several cryptos to be traded agaisnt fiat currencies.

I still say a decentralized exchange would be best

  ·  3 years ago (edited)

It's like the Wild West era of crypto. Shit happens. Shit we can't predict. Haven't had any problems with Kraken (knock on wood). What a time to be alive.

This post received a 4.2% upvote from @randowhale thanks to @buzzbeergeek! For more information, click here!

nice one

If this does fork will it be a ether, ether classic scenario? Will the old original one be worth more or less if that happens. Take care and have a good night

  ·  3 years ago (edited)

I am interested in Iconomi as a new and improved way of dealing with these exchange issues I really hope the "iconomi" like exchanges open for business soon.

You can still buy bitcoin, and that's using your mobile phone :) I write short article about it, please upvote if you like, follow me, thanks https://steemit.com/bitcoin/@cryptomonitor/it-works-just-bought-bitcoin-with-mobile-credits-on-coingate-prepaid-postpaid

Useful Post

Congratulations @kingscrown!
Your post was mentioned in my hit parade in the following categories:

  • Upvotes - Ranked 3 with 963 upvotes
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It seems risky to store substantial amounts of value on Kraken. For those of you who do you may want to spend some timing moving any investments that aren't used for day trading into some offline storage.

Setup a cold storage wallet using a paper backup stored in multiple physical locations

Great reading , enjoyed it so I upvoted (:

nice post, thanks for sharing ^^

Thanks for the updates! This goes to show that you can never be too careful with online exchanges

  ·  3 years ago (edited)

Is it too late to join cryptocurrency ? If no, then which currency should i start with ?

Thank you very much for the infos ;)
Hopefully there won't be new safety issues with these major exchanges....
Enjoy your day! :)

Love the post. @kingscrown72 thanks.

i think bitfinex is the best exchange . and you what is your best exchange ?

Thank you for the info. Greatly appreciated!

Good analysis

Already heard a lot of positive feedback about BitPay but guess they are taking it to the next level with the App. Will they also make it for iOS and Android?

good article
upvoted+resteemed+followed

Thanks for the news man! Hope to get more useful news from you in the short future!