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Kraken: trustworthy or not ?

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Ok, i made my Kraken security setup like this:

EMAIL:
- Protonmail (end to end PGP encrypted)

LOGIN:
- Strong password (20-30 random chars)
- 2FA

FUNDING:
- 2FA

ACCOUNT SETTINGS:
- Global settings lock enabled
- Global settings masterkey strong password (20-30 random chars)

With this setup, i am quite confident about security.
Thanks for all comments.


https://www.kraken.com/help/faq
What can I do to make my Kraken account more secure?

Kraken offers the most advanced tools in the industry for securing your account.
You can make your account more secure in the following ways.

Basic

Create Two-factor authentication for account login and funding
Secure the email tied to your Kraken account with a strong password and two-factor authentication
Create a master key to require authentication for account recovery

Advanced

Create additional two-factor authentication for trading
Lock your account settings with the global settings lock
If your email supports PGP/GPG signing and encryption, give us your PGP key to receive signed and encrypted email from us
 
Also, to improve your security and reduce your third-party exposure risk, don't store your Dash in the Kraken account -- just move funds in to make a trade, then move founds out to your secure storage -- ideally a hardware wallet. Leaving funds sitting in the exchange account is not recommended.
 
Also, to improve your security and reduce your third-party exposure risk, don't store your Dash in the Kraken account -- just move funds in to make a trade, then move founds out to your secure storage -- ideally a hardware wallet. Leaving funds sitting in the exchange account is not recommended.
Indeed.
 
Instant send was not instant, only normal speed when i sent to them.
Well, not pure intant send, but they credit your account after 1 block confirmation if you send with instant send. I've just rechecked and it still works. If you are not experiencing it, maybe it is related to verification levels or history or something like that...
 
Well, not pure intant send, but they credit your account after 1 block confirmation if you send with instant send. I've just rechecked and it still works. If you are not experiencing it, maybe it is related to verification levels or history or something like that...
Yep, my first test instantsend was 10 Dash and it took about 10 mins to get it done.
No problem to me, i'm not in that hurry.

Now i 'fight' with euro withdrawal, can someone clear to me what this mean?
My own name or bank account name?
Important:
The name on the bank account you are withdrawing to
must match the name on the account you are withdrawing from.
 
The bank account must be in the same name as the name you gave in your Kraken verification, so if you're signed up to Kraken as Fred Smith, you can only withdraw funds to a bank account in the name of Fred Smith. It's an AML thing, to prevent Kraken being used as a middle man in transactions with third parties.
 
The bank account must be in the same name as the name you gave in your Kraken verification, so if you're signed up to Kraken as Fred Smith, you can only withdraw funds to a bank account in the name of Fred Smith. It's an AML thing, to prevent Kraken being used as a middle man in transactions with third parties.
Ok, so its MY name, thanks!
 
Yep, my first test instantsend was 10 Dash and it took about 10 mins to get it done.
No problem to me, i'm not in that hurry.

Now i 'fight' with euro withdrawal, can someone clear to me what this mean?
My own name or bank account name?
10 minutes, is that normal? Did they not implement our InstantSend correctly, or is InstantSend not really instant? Can somebody provide clarification on this?... This is a big red flag for me!
 
10 minutes, is that normal? Did they not implement our InstantSend correctly, or is InstantSend not really instant? Can somebody provide clarification on this?... This is a big red flag for me!
I was talking about first deposit to kraken.

There is this note about Dash deposit:
Dash Deposit
Deposit DASH to your account by sending them to one of the deposit addresses shown below. If no address appears, click "Generate New Address" to generate one.

  • Deposit addresses can expire! If you create more than 5 addresses, then the oldest ones will be set to expire in 7 days until you have 5 addresses again.
  • 6 confirmations are required before the funds are available for trading.
 
The bank account must be in the same name as the name you gave in your Kraken verification, so if you're signed up to Kraken as Fred Smith, you can only withdraw funds to a bank account in the name of Fred Smith. It's an AML thing, to prevent Kraken being used as a middle man in transactions with third parties.

To be more precise, the bank account name must be the same name as you've used for your "Tier x" verification.
Your login-name can still be Fred Smith.
 
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Week is behind and i'm not convinced about kraken.

- My Tier 3 is still processing (7 days)
- SEPA withdrawal is on hold (6 days)
- Heavy DDOS, website does not work like it should
- Kraken twitter is full of angry customers (losing money because of ddos)

Why there are no DASH-EURO exchanges, damn.

https://twitter.com/krakenfx
https://status.kraken.com/history

Clipboard01.png
 
Last edited:
Week is behind and i'm not convinced about kraken.
- My Tier 3 is still processing (7 days)
- SEPA withdrawal is on hold (6 days)
- Heavy DDOS, website does not work like it should
- Kraken twitter is full of angry customers (losing money because of ddos)View attachment 3439

Yeah, I had similar experiences, but it worked out in the end. My Tier 3 approval took weeks (over a month ago, they told me sorry several times, too many new users and support requests) and I had to reupload images until they were happy.

Last week I made my first EUR deposit and it took a few days over the weekend and Monday until it finally showed up on Tuesday, then it was put on hold yesterday all day until I asked them politely why (support ticket). Since I am not very patient, I also emailed them and asked Yunus on Bitcointalk (Germany Kraken Support guy). About two hour later all was solved and good, they also told me they do this on purpose for the first deposit or withdrawal, next time it will be quicker. On poloniex I am waiting for 5 weeks now on my support ticket and asking them every week whats going on, most definitively worse support over there.

The DDOS affected many big exchanges and even mining pools, I am not so sure about all that. It looks more like incompetency (especially on Polo, the website code is horrible, on Kraken it is also very cumbersome, it is a wonder it works at all), but the effect is the same for users, things explode, trades are not possible because everything crashes and users are very unhappy. Some losing a big chunk of their money.

That is why the tips in this thread are very useful and true, if possible get your stuff out and do not hold anything in exchanges except on what you want to trade (which is a bit hard right now as trading can be super profitable (and risky) with everything going up and down like crazy).
 
Yeah, I had similar experiences, but it worked out in the end. My Tier 3 approval took weeks (over a month ago, they told me sorry several times, too many new users and support requests) and I had to reupload images until they were happy.

Last week I made my first EUR deposit and it took a few days over the weekend and Monday until it finally showed up on Tuesday, then it was put on hold yesterday all day until I asked them politely why (support ticket). Since I am not very patient, I also emailed them and asked Yunus on Bitcointalk (Germany Kraken Support guy). About two hour later all was solved and good, they also told me they do this on purpose for the first deposit or withdrawal, next time it will be quicker. On poloniex I am waiting for 5 weeks now on my support ticket and asking them every week whats going on, most definitively worse support over there.

The DDOS affected many big exchanges and even mining pools, I am not so sure about all that. It looks more like incompetency (especially on Polo, the website code is horrible, on Kraken it is also very cumbersome, it is a wonder it works at all), but the effect is the same for users, things explode, trades are not possible because everything crashes and users are very unhappy. Some losing a big chunk of their money.

That is why the tips in this thread are very useful and true, if possible get your stuff out and do not hold anything in exchanges except on what you want to trade (which is a bit hard right now as trading can be super profitable (and risky) with everything going up and down like crazy).
Thanks for your info, i wait and see what happens, yesterday i created ticket about on hold withdrawal.
At least now i do not feel so good about kraken, but we will see how this end.
 
Ok, i see light in the tunnel.

My tier 3 verification is done/verified, i had to upload passport scan again.

First withdrawal test was failure, second time it looks promising, status = sending.
If this goes ok, i will test third withdrawal and i will monitor sepa speed, i'l be back then.
 
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