Kraken an exchange to be avoided at any cost
On 05/22/2017 I opened a new account on Kraken with the intention of depositing fiat currency, then buying different cryptos. I immediately submitted all required documents. Except blood analysis and DNA they asked for everything else, including email, address, phone number, a bank statement (routing and account number), my state ID. Plus they made me take a picture of myself alongside my ID and my signature and handwritten text for trading digital currency on kraken.com. I feel so dumb I did that.
It's been two months since my verification request, I still did not hear anything back from them yet. I understand that all exchanges got an influx of applications during the crypto rally, but even after two months and no approval, this defies logic. How hard is it to hire new employees if you're getting more business.
Apparently I'm just approved for level 0 and 1, which are useless. Level 1 gives me only $2,500 daily withdrawal limit, which for me is useless. At the same time I applied for Poloniex and they have $7,000 which is not bad.
My concern is providing all my personal information to a company that can't verify your account within 2 months. What about if my deposits went missing. I submitted a ticket to close my account and delete all my personal data. Let's see which one goes through first.
I only can hope they will do it this year. Still 5 months left.
Follows and upvotes are appreciated :)
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice.
I'm not satisfied with them either. There are many other good exchanges.
I would trade on poloniex or bittrex my friend...You just got a new follower my friend.
UPVOTED^^
Weird. After signing up about a week ago, I was approved for tier 2 in less than 12 hours. I haven't bothered with tier 3 yet.
Other than buying crypto, kraken is a great exchange in my opinion
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STOPKraken has been excellent so far. It took me 3 days or so to get to tier 3. Also the API integration to Coinigy is fantastic. Now, if they only would start trading steem and I would actually start to understand how steem/steemit works...that would be nice :)