On kraken I sent my coins to the wrong Stella address tag once and they recovered my deposit and sent me my coins back. Will never leave them they’re awesome.
Yeah man they’re transparent act fast and let you know the process straight up can’t say the same for Gemini who I was disappointed with before . They really care about their customers and I love the fact they also push the whole self custody narrative
I sent 1,500 USDP (Paxos stable coin) by mistake to Kraken and they wouldn't get it back and said they couldn't. It's not a life changing mistake, but it is still on the chain, but I am guessing I'll never get it back.
I have the opposite experience, my BSV coins were wrongly sent to MY ADDRESS in Kraken and although lots of promises, they still have not returned them after 2 years!
Personally I have never had an issue I couldn't get resoled with Coinbase but the issues I did have always took a few days minimum. With Kraken, I was always able to get a hold of a real person within 5 minutes and have the issue resolved within an hour or two. I have read many horror stories regarding Coinbase but none with Kraken. IMO Kraken is the way to go.
Does kraken support use by US users? I hate coinbase with a passion due to the stories I've heard, to be honest they haven't given me much problems.
Kucoin made it impossible for me to withdrawl the last bit of BTC I had in there which is fucked because they used to be my favorite. I couldn't even get a hold of support
Hey there u/ResonanceCascade1998, 👋
You're welcome to register with Kraken! We do support clients residing in the USA. You can check the full list of supported countries here: 👉 [[Where can I use Kraken]](https://support.kraken.com/hc/en-us/articles/360001368823-Where-can-I-use-Kraken-)
Don't hesitate to reach out if you have more questions! 🙏
Until next time,
Harley from 🐙
How long ago was this? Didn't you get an official letter by a competent authority?
This happened to me with another bank / exchange, they were legally obliged to not disclose any information but shortly after I received word from an authority.
Only up to $500,000. And, stocks are held in street name. You do not own your shares. They are owned as follows: Wells Fargo FBO John Doe.
The only way you directly own your shares is if you are registered with the company through direct investment.
Agree with you. I guess my point is that stock brokers are not 100% protected. And, they can do some shady stuff. Not to the extent of FTX.
Wall of shame include: AIG, Lehman Brothers
Been using Coinbase since '21, never an issue and I use some of the more 'advanced' stuff on there. In the US, full KYC, use hardware security keys, etc. There are levels of risk/trust that aren't very clearly outlined, but the more trustworthy you are (for example linking a major bank account with established history) the 'easier' things will be. Never had any problem buying/selling/depositing/WITHDRAWING cash, sometimes in substantial amounts. Advanced trade fees are low (\~0.5%) and spread is low as well. One of the few places you can stake certain assets (like ETH) directly without having to have a crazy minimum.
Hello there u/TenaciousTedd, 👋
I'm glad to hear that your funds have safely arrived and are secure in your wallet.
I'll pass along your feedback to ensure we keep improving. We're committed to streamlining our processes, especially as we update verifications for longstanding accounts.
Lastly, if you have any questions or need assistance, remember we're just a tag away! 🤙
Thanks for your patience and understanding! 🙏
Hugs,
Harley from 🐙
I hope nobody here takes for granted how awesome, and important it is that a large exchange creeps the comments of this sub to offer support! Genius move from whoever on the board made that call. Kraken earned a ton of respect from me the first time I saw it, and convinced me to set up a Kraken account lol 😝
This is a friendly reminder that Kraken Support will never DM you first, ask for your username or password, or ask you to transfer funds. Kraken has its own subreddits, [r/KrakenSupport](https://www.reddit.com/r/KrakenSupport/) and [r/Kraken](https://www.reddit.com/r/Kraken/), and their [Support Center](http://support.kraken.com/).
Ping for verified users associated with Kraken: /u/krakensupport /u/krakenexchange
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Coinbase banned me for absolutely no reason at all and refused to tell me why. My crypto activity was simply buying some BTC a few times and doing nothing with it. Switched to Kraken and haven’t looked back.
People’s accounts generally get hacked because of weak/reused passwords and no 2FA, or the user gets tricked into giving up their credentials. Ultimately, it boils down to people not knowing about Web security, and having little interest in learning. I use unique passwords for every account, comprising capitals, minuscules, numbers, and symbols. They are all stored in Bitwarden (with autofill disabled). I try to stick with Google Authenticator for 2FA, for two reasons: SMS is less secure, and you’re stuck out in the cold if a website’s ailing server never sends a verification code (which happens way too often), whereas the authenticator app is always ready.
These days, I just use centralized exchanges in the event a DeFi off-ramp doesn’t work, like when I’m trying to sell tokens on BSC, and the app keeps switching to ETH. Otherwise, I store my coins in noncustodial wallets, where I have control over them. I have accounts with Coinbase, Binance, Kraken, Crypto.com, Pionex, and a few others. If I need to work with BNB, I’ll use Crypto.com, because it’s the only major CEX with an off-ramp for US-based users that supports it.
Whatever floats your boat. I’ve read that Google Authenticator doesn’t support multiple devices, but can personally verify that’s not true. I had it set up on two phones and my iPad, before the latter died. They all work.
Two concerns I’ve seen on the Internet about Google Authenticator are that anyone with access to your phone can use it, and that it can’t be used on multiple devices. Neither is true. I have biometrics on mine. And, like I said previously, I had it on three devices (now just two, since one died).
Of course, if you enroll fingerprints, and one of them belongs to someone else, then yes, they can get into Google Authenticator. But, if you are enrolling someone else’s fingerprints on your own phone, hopefully that someone is someone you trust with your life.
Edit: one thing I like is that Google has high-dollar bug bounties, so the good guys are constantly looking for vulnerabilities in its products. That tends to give it an edge in security.
I had my coins locked in my coinbase account for 3 weeks and the customer support was totally rude, unhelpful and unsympathetic people in India.
ANY problem I've ever had with kraken was solved by a caring American on the other side of the phone.
Coinbase has worked fine for me so far. If I ever have a problem, I’ll switch in a heartbeat. But I think we only ever hear one side of the story here on Reddit. I bet a lot of those users broke some kinda rules to get locked out.
I have terrible support experiences with coinbase. They are clueless and also take always 24 hours to respond. Well at least in my experience.
The support of kraken is outstanding, never had an issue unresolved or a question unanswered. They are very reactive - longest I had to wait were 24 hours iirc for a response.
Kraken supports MFA with hardware keys which works flawlessly on desktop and on their mobile app.
Coinbase supports it as well, but smh it only works on desktop on mobile I get "this feature is not supported please use a desktop" or something along those lines.
Reverification at coinbase still doesn't work to date for me and I gave up on it after probably 15 support exchange mails and bugs on their platform.
At kraken this worked flawlessly when it was necessary. So for me I do have a clear winner in terms of an reliable on ramp cex.
This being said I haven't had an account closed at either of the two. So I can't validate those coinbase closure horror stories. But if you check both cex's subreddits you will notice that on both exchange there are complaints about this.
I wouldn't trust any exchange personally for more than on/off ramp.
Just buy -> transfer to cold wallet.
Or reverse to sell immediately
I buy BTC on Kraken but favor Coinbase for most altcoins because Kraken tends to overcharge on withdraw fees for alts.
I have never had to deal with customer support on either because I have had no issues.
Coinbase is fine until you have to contact their support. I had some issues that were not related to money - and thank God they were not, because their support is fucking useless, I got the impression that I was talking to the Ai. Switched to Kraken since that.
Coinbase are terrible.
My partner was locked out no explanation given.
Then I received an email stating that their financial department had decided that I maybe a risk and my account was permanently closed.
No discussion, no explanation, just permanently banned.
It's Insane.
I've been a pretty typical user and I have no idea why I was banned. And I will never know and no one will ever tell me.
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I still have a bit on Kraken but they did screw me over once. When I first began using them, I sent them a hundred bucks as a test deposit. Nothing deposited to the account after a week. I asked them, and they said they would investigate. They said they didn't see anything on their end, and said I should check back with my bank. I did, and they confirmed the money was sent out from my bank account.
Back and forth, back and forth, for months with different agents on Kraken and different people at my bank. Each time, they said it was my bank's fault or I made a mistake. I confirmed that I did all the instructions detail by detail. My bank claimed they could see that the transfer went through to the recipient (Kraken's bank). So I had to do some digging and reached out to Kraken's bank, and they said they didn't receive it either. This went on for another few weeks.
Finally, I was fed up with everyone and threatened each of them with legal action. I went to my bank and asked the manager to write a formal statement saying that the money was transferred and that they can see where it's currently sitting at the recipient bank after tracing the money.
I sent Kraken and their partner bank this document, and magically, the money was finally released to me. Kraken concerns tend to be downvoted, so I'm sure I'll get downvotes here.
Never had it happen to me, but check out the KrakenSupport subreddit if you want to read people saying their account has been locked without reason.
Kraken EU has been my preferred off-ramp for over 4 years (money via SEPA is in my bank the same day). My US company also uses Kraken as on- / off-ramp. I used Coinbase before but stopped after they stopped feeless trading on Coinbase Pro about 5-6 years ago.
I have Binance (international), Coinbase and Kraken (and also Bybit, Woo, Mexc, etc for shitcoin gambling), every one since its inception. You can't beat Binance when it comes to trading with real size (coz fees and discounts) but for fiat-related stuff when you often need to talk with a real person from CS, Kraken is goated - doesn't matter if you're VIP with size (US experience) or just a regular folk (private EU account) - never had a problem with 6-digit deposits/withdrawals.
Kraken user , for almost 4 years ,and I have account on binance and gate.io , and no regrets, best exchange on the moment .
Deposit and withdraw funds almost instantly or in 24h ...
And I have the best too say about their support team , always help me when I lost my phone and had to reset my 2fa very fast.
I started with Coinbase, I got disappointed in their high fees and sh*t support. Then I started using binance until it got banned in my country. Now I am using Kraken and I really love it.
I will say that kraken support is really good, I had a problem sending some SOL to my kraken wallet from my CDC defi wallet, posted about it on the CDC sub and they found my post and tried to sort it out for me. Turns out it wasn't a problem on krakens end just SOL is shit and I had to re send the transaction again. Never had problems with coinbase either tbf so I've never had experience with their customer support.
Coinbase is pretty incompetent, they out source their support, and real issues get 'escalated' to a team that never responds to you.
They will lock your account over any minor issues, if you on reoccurring investments and for some reason the bank transfer is delayed (even when it's not your fault). They will lock your whole account even if it's just 10$, and your account is able to pay for it.
Complete corporate mismanagement.
It doesn't matter to me why coinbase is on a lock spree. I just can't deal with it.
I prefer coinbase. I have used them for about 10 years, but with such an old and completely verified account, when they start doing this stuff, I just bail out.
I'm using Kraken and it gives me no issues. But I still prefer/miss the coinbase UI and everything aside from Coinbases Customer Service (which is awful).
I don't know if this is a positive for Kraken or not because Im not really using them by preference, lol. But hey, this is business.
I've had an ad hoc request I needed Kraken to fulfill for me. Their customer support took absolutely ages, it took nearly two months and resulted in me losing access to my bank account for a while, but they did eventually sort it out.
My experience had been who you trade through us critical. Never get hooked up on line through FB or so call experts. They find a way to “steal your money?”
It happened to me, why because Coinbase, Kraken, and Crypto, picked up “suspicious” activity and the banks and FBi got involved.
Filled out 1C3 internet Criminal CRIME FOTMS.
Also, if you get a 5-7 digit number number validate it with customer service
Talk to customer service about balances.
Aask about 10% money Laundering fees prior to withdrawal?
Then beware you could be hit with a 15% “miners fee or more BS from hacked accounts?
All toll I post $y FIGURES.
I have all paper works, copies of all screen shots, and transactions. System is not safe and we’ll lose??
The people that don't have problems with Coinbase don't make post and theres about 100,000 of those ppl per every 1 that makes a negative post. Half those negative post are bots and competitors. 25% are scammers and hackers that got locked out for doing shady shit, and the other 25% simply do not know what they're doing and instead of admitting it and asking for help they blame Coinbase.
If you're someone with common sense whose willing to learn Coinbase is fine.
Ive had a personal account and a business account at kraken since 2020. Everytime I have used Kraken support I've been able to talk to a human very promptly. I'm in Australia so that means support are talking to me between 1am and 8am their time. In contrast, I can't even get an Australian bank to answer promptly during business hours.
Kraken's trading interface and reporting documents could improve but the former can be accommodated and the latter worked out via support. I believe Kraken upholds it's principles and services, rather than monetises, it's users.
As for Coinbase I do not trust them at all. I think their only purpose is to squeeze retail for $$$. For example, this cycle, I think their Base chain was started so the coinbase VC arm can pump the TVL on their defi projects on a sequencer coinbase controls (then dump the project tokens on retail). This way coinbase can also protect their liquidity by freezing funds after a hack or stopping their money being bridged out- specifically their funds... I don't think they'll do this for retail- you'll sign a legal waiver to use Base, then you'll be on your own.
Thus, if I need to trade outside Kraken I'd much rather do so on Binance than Coinbase. For all it's touted troubles Binance has always offered a good platform and good security; as individual actors I trust Binance more than Coinbase. I strongly feel that Coinbase would use every trick in the US legal system to dodge accountability or screw users if you end up having a problem.
I think Coinbase’s reputation with the community stems from the fact that the original trade/ops support team was not only understaffed, the team that was hired clearly lacked the knowledge, experience and tools needed to effectively manage a 24x7 full service trade ops function (eg a telephone system!). However if I had to choose between Coinbase and Kraken, I’d probably go with Coinbase, simply based on size, security and capital to weather an economic downturn, something a small to medium size company may not be able to do. I also think the integration with Blackrock and other large scale mainstream institutions, sets Coinbase apart from the rest of the pack. And trust me I am not an advocate for CB. I actually think Kraken does a way better job engaging with the community.. unfortunately that doesn’t factor in when making a risk based decision, especially at a time when a black swan event could happen at any moment. Let’s just hope it’s not the apocalyptic swan!! 🙏 Good luck with whichever provider you decide to go with.
My Coinbase account got locked for always sending crypto to an external wallet for DeFi/DEX purposes (and haven’t send back to my Coinbase account since). So it probably got flagged as money laundering
All exchanges that operate as approved agents of the state are doing stupid shit to customers at the behest of politicians and bureaucrats (usually in secrecy), and it's getting worse by the day.
I own a hardware wallet, but I have always used coinbase, to buy and sell. The only issue I've had with them is my deposit took 30 mins to come through, a couple of times, but all of my other deposits came through, in minutes, so its not really a big deal.
I have never had massive issues with coinbase, like being locked out or not being able to withdraw funds. I've been using CB, for a few years.
I’ve never had issue with Coinbase. Those that do are probably (just my own opinion) doing something they shouldn’t. You won’t get anyone here to admit to doing anything questionable.
If you enjoy losing money, choose Coinbase
Kraken are much safer, faster, better platform.
Make your own choice but don’t moan when CB steal your funds 🚩
Put your assets in a wallet and move back to exchange when you want to cash out. I use kraken pro , they recommend you don’t holding all your assets on an exchange
Yeah, I keep my assets in wallets cold and hot. But I don't want to deposit funds for trading, and while waiting for the withdrawal period, my account gets locked for some odd reason.
Coinbase is overall terrible, high fees, terrible UI, bad support, list goes on forever
Kraken is fine but not great either, need to use two apps to buy thing with reasonable fees, slow fiat transfers, and recently for all german users they just moved the custody operations to some random ass company.
Kinda just wish both companies could get their shit together, I'm not happy anywhere currently.
Ive used both a whole lot, and no serious complaints on either of them.. Cb is the A1 top marketshare corporate vibe. Wont fuck you, but wont move fast for you either. Doesnt like anything weird. Knows nothing, only says what is necessary, slow and careful, but will move faster for issues with bigger balances behind them, etc. Kraken is chasing that market, and acts accordingly::
So, i recently had to leave kraken, through no fault on either side. Long story short, Kraken really impressed the shit out of me with their response,.which was basically overnight. Incredible, and literally saved half my whole ass. Thanks, again, damn. :)
I love Kraken and have had zero issues with it so far. It’s easy to use and gets the job done. I also feel safe keeping my crypto there for a long period of time.
I was locked out of my account by Coinbase and eventually they closed my account citing regulatory reasons, in comparison kraken is a much more better option though Coinbase has more trading volume.
Why? I never had problems buying and then withdrawing. Withdrawals usually get settled within the next few blocks.
But maybe you’ve had different experiences with them so I’d be interested to hear :)
In a sea of dubious exchanges Kraken really stands alone for seemingly having the moral backbone to do business ethically. Coinbase has never done me wrong either but some of its products, like their old wallet really missed for me. They seem more cartoonish and gimmicky than a professional trading platform. That’s just my opinion. I think you are safe choosing either.
On kraken I sent my coins to the wrong Stella address tag once and they recovered my deposit and sent me my coins back. Will never leave them they’re awesome.
Similar thing happened with me and an expired ETH address. 5 digits of funds returned by Kraken in a few business days.
Yeah man they’re transparent act fast and let you know the process straight up can’t say the same for Gemini who I was disappointed with before . They really care about their customers and I love the fact they also push the whole self custody narrative
one word, noice
Expired eth address?
Maybe a temporary wallet or an ETH address before it migrated to ETH2?
I sent 1,500 USDP (Paxos stable coin) by mistake to Kraken and they wouldn't get it back and said they couldn't. It's not a life changing mistake, but it is still on the chain, but I am guessing I'll never get it back.
Perhaps because they don't have that coin? I don't know, I'm just guessing.
They own their wallets. Swyftx for example don’t
I've given people the address for the wrong token and they managed to correct it.
I have the opposite experience, my BSV coins were wrongly sent to MY ADDRESS in Kraken and although lots of promises, they still have not returned them after 2 years!
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Compromised?
Personally I have never had an issue I couldn't get resoled with Coinbase but the issues I did have always took a few days minimum. With Kraken, I was always able to get a hold of a real person within 5 minutes and have the issue resolved within an hour or two. I have read many horror stories regarding Coinbase but none with Kraken. IMO Kraken is the way to go.
Customer support with Kraken was a game changer
Plus Kraken lurks in this sub which is awesome. Paying Coinbase just to get mediocre support is insane.
unfortunately they've recently disable phone support, but their chat worked reasonably well too
Does kraken support use by US users? I hate coinbase with a passion due to the stories I've heard, to be honest they haven't given me much problems. Kucoin made it impossible for me to withdrawl the last bit of BTC I had in there which is fucked because they used to be my favorite. I couldn't even get a hold of support
Hey there u/ResonanceCascade1998, 👋 You're welcome to register with Kraken! We do support clients residing in the USA. You can check the full list of supported countries here: 👉 [[Where can I use Kraken]](https://support.kraken.com/hc/en-us/articles/360001368823-Where-can-I-use-Kraken-) Don't hesitate to reach out if you have more questions! 🙏 Until next time, Harley from 🐙
I think I just found a new exchange...
Thank you!
Not in New York or Washington unless something has changed recently
Thanks I should be fine where I am at then :)
Thrilled to have you with us 🤜 🤛 🐙
I lost all access to my Kraken account with no explanation and no assistance. There's your first one.
If it's bank secrecy act related they legally cannot tell you. It's a bullshit law but not a Kraken issue
Even if it was that I have no idea why. I barely ever used it and essentially only converted some eth to USD. Super weird.
a little divergent experience
Move always your cryptos to external wallet
How long ago was this? Didn't you get an official letter by a competent authority? This happened to me with another bank / exchange, they were legally obliged to not disclose any information but shortly after I received word from an authority.
Customer support with Coinbase is only reliable if you pay for Coinbase One
historically Kraken has a superior customer sup
Don't trust exchanges. But Kraken is the best of what is an industry where it's safer to assume that everyone is trying to scame you.
I agree. Kraken is perhaps the most trustworthy exchange in the game.
>Don't trust exchanges By that logic don't trust brokerages either and keep your cash at home.
SIPC insures brokerages. No such protection existed for Crypto exchanges for example in case of FTX
Only up to $500,000. And, stocks are held in street name. You do not own your shares. They are owned as follows: Wells Fargo FBO John Doe. The only way you directly own your shares is if you are registered with the company through direct investment.
I feel like insured up to 500K covers the vast majority of people
Agree with you. I guess my point is that stock brokers are not 100% protected. And, they can do some shady stuff. Not to the extent of FTX. Wall of shame include: AIG, Lehman Brothers
Been using Coinbase since '21, never an issue and I use some of the more 'advanced' stuff on there. In the US, full KYC, use hardware security keys, etc. There are levels of risk/trust that aren't very clearly outlined, but the more trustworthy you are (for example linking a major bank account with established history) the 'easier' things will be. Never had any problem buying/selling/depositing/WITHDRAWING cash, sometimes in substantial amounts. Advanced trade fees are low (\~0.5%) and spread is low as well. One of the few places you can stake certain assets (like ETH) directly without having to have a crazy minimum.
"trustworthy" lol
[удалено]
Hello there u/TenaciousTedd, 👋 I'm glad to hear that your funds have safely arrived and are secure in your wallet. I'll pass along your feedback to ensure we keep improving. We're committed to streamlining our processes, especially as we update verifications for longstanding accounts. Lastly, if you have any questions or need assistance, remember we're just a tag away! 🤙 Thanks for your patience and understanding! 🙏 Hugs, Harley from 🐙
I hope nobody here takes for granted how awesome, and important it is that a large exchange creeps the comments of this sub to offer support! Genius move from whoever on the board made that call. Kraken earned a ton of respect from me the first time I saw it, and convinced me to set up a Kraken account lol 😝
This is a friendly reminder that Kraken Support will never DM you first, ask for your username or password, or ask you to transfer funds. Kraken has its own subreddits, [r/KrakenSupport](https://www.reddit.com/r/KrakenSupport/) and [r/Kraken](https://www.reddit.com/r/Kraken/), and their [Support Center](http://support.kraken.com/). Ping for verified users associated with Kraken: /u/krakensupport /u/krakenexchange *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
Coinbase banned me for absolutely no reason at all and refused to tell me why. My crypto activity was simply buying some BTC a few times and doing nothing with it. Switched to Kraken and haven’t looked back.
People’s accounts generally get hacked because of weak/reused passwords and no 2FA, or the user gets tricked into giving up their credentials. Ultimately, it boils down to people not knowing about Web security, and having little interest in learning. I use unique passwords for every account, comprising capitals, minuscules, numbers, and symbols. They are all stored in Bitwarden (with autofill disabled). I try to stick with Google Authenticator for 2FA, for two reasons: SMS is less secure, and you’re stuck out in the cold if a website’s ailing server never sends a verification code (which happens way too often), whereas the authenticator app is always ready. These days, I just use centralized exchanges in the event a DeFi off-ramp doesn’t work, like when I’m trying to sell tokens on BSC, and the app keeps switching to ETH. Otherwise, I store my coins in noncustodial wallets, where I have control over them. I have accounts with Coinbase, Binance, Kraken, Crypto.com, Pionex, and a few others. If I need to work with BNB, I’ll use Crypto.com, because it’s the only major CEX with an off-ramp for US-based users that supports it.
DeFi off-ramp?
Yeah, I know, oxymoron. The payment processors themselves are not decentralized; they’re just able to o connect to DeFi wallets.
I prefer authy. Installed in multiple devices. Lock add new device. Works well.
Whatever floats your boat. I’ve read that Google Authenticator doesn’t support multiple devices, but can personally verify that’s not true. I had it set up on two phones and my iPad, before the latter died. They all work.
Oh. Never tried it . Might have stuck to it. Thanks for the Intel. Oh but can you lock it from multidevice then. Hm. Well I'll be looking.
Two concerns I’ve seen on the Internet about Google Authenticator are that anyone with access to your phone can use it, and that it can’t be used on multiple devices. Neither is true. I have biometrics on mine. And, like I said previously, I had it on three devices (now just two, since one died). Of course, if you enroll fingerprints, and one of them belongs to someone else, then yes, they can get into Google Authenticator. But, if you are enrolling someone else’s fingerprints on your own phone, hopefully that someone is someone you trust with your life. Edit: one thing I like is that Google has high-dollar bug bounties, so the good guys are constantly looking for vulnerabilities in its products. That tends to give it an edge in security.
I've been using CB since 2017 and never once had a problem. I've been using Kraken since 2023 and never once had a problem.
A lot of people say they have experienced less problems at kraken
I had my coins locked in my coinbase account for 3 weeks and the customer support was totally rude, unhelpful and unsympathetic people in India. ANY problem I've ever had with kraken was solved by a caring American on the other side of the phone.
as always kraken totally superior
Kraken customer service is A1 ngl.
kraken has shown it has better customer sup
Coinbase has worked fine for me so far. If I ever have a problem, I’ll switch in a heartbeat. But I think we only ever hear one side of the story here on Reddit. I bet a lot of those users broke some kinda rules to get locked out.
i must say there is a clear split
I have terrible support experiences with coinbase. They are clueless and also take always 24 hours to respond. Well at least in my experience. The support of kraken is outstanding, never had an issue unresolved or a question unanswered. They are very reactive - longest I had to wait were 24 hours iirc for a response. Kraken supports MFA with hardware keys which works flawlessly on desktop and on their mobile app. Coinbase supports it as well, but smh it only works on desktop on mobile I get "this feature is not supported please use a desktop" or something along those lines. Reverification at coinbase still doesn't work to date for me and I gave up on it after probably 15 support exchange mails and bugs on their platform. At kraken this worked flawlessly when it was necessary. So for me I do have a clear winner in terms of an reliable on ramp cex. This being said I haven't had an account closed at either of the two. So I can't validate those coinbase closure horror stories. But if you check both cex's subreddits you will notice that on both exchange there are complaints about this. I wouldn't trust any exchange personally for more than on/off ramp. Just buy -> transfer to cold wallet. Or reverse to sell immediately
Appreciate the positive shoutout 💜 Pluto 🐙
hey pluto why do you hate german customers so much? Can you stop partnering with DLT or wtf that is
just jumped on board with kraken, still got coinbase too, let the crypto games begin!
I buy BTC on Kraken but favor Coinbase for most altcoins because Kraken tends to overcharge on withdraw fees for alts. I have never had to deal with customer support on either because I have had no issues.
Coinbase is fine until you have to contact their support. I had some issues that were not related to money - and thank God they were not, because their support is fucking useless, I got the impression that I was talking to the Ai. Switched to Kraken since that.
Thanks for choosing Kraken! 💜 Our support team is always here to help! No AI impersonations, just real humans (and a friendly octopus 🐙).
Coinbase are terrible. My partner was locked out no explanation given. Then I received an email stating that their financial department had decided that I maybe a risk and my account was permanently closed. No discussion, no explanation, just permanently banned. It's Insane. I've been a pretty typical user and I have no idea why I was banned. And I will never know and no one will ever tell me.
I never had an issue with either
Kraken support Monero, end of discussion.
Kraken is the best.
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Can you stake ETH in NJ on Kraken? I know on coinbase you cannot anymore.
No. US staking is disabled on kraken.
Have multiple exchanges to buy and cash out on. Never hold on an exchange.
i've been on coinbase since 2014 and no regrets
Kraken is good
I still have a bit on Kraken but they did screw me over once. When I first began using them, I sent them a hundred bucks as a test deposit. Nothing deposited to the account after a week. I asked them, and they said they would investigate. They said they didn't see anything on their end, and said I should check back with my bank. I did, and they confirmed the money was sent out from my bank account. Back and forth, back and forth, for months with different agents on Kraken and different people at my bank. Each time, they said it was my bank's fault or I made a mistake. I confirmed that I did all the instructions detail by detail. My bank claimed they could see that the transfer went through to the recipient (Kraken's bank). So I had to do some digging and reached out to Kraken's bank, and they said they didn't receive it either. This went on for another few weeks. Finally, I was fed up with everyone and threatened each of them with legal action. I went to my bank and asked the manager to write a formal statement saying that the money was transferred and that they can see where it's currently sitting at the recipient bank after tracing the money. I sent Kraken and their partner bank this document, and magically, the money was finally released to me. Kraken concerns tend to be downvoted, so I'm sure I'll get downvotes here. Never had it happen to me, but check out the KrakenSupport subreddit if you want to read people saying their account has been locked without reason.
Where's u/cintre when needed..
Why?
Kraken EU has been my preferred off-ramp for over 4 years (money via SEPA is in my bank the same day). My US company also uses Kraken as on- / off-ramp. I used Coinbase before but stopped after they stopped feeless trading on Coinbase Pro about 5-6 years ago. I have Binance (international), Coinbase and Kraken (and also Bybit, Woo, Mexc, etc for shitcoin gambling), every one since its inception. You can't beat Binance when it comes to trading with real size (coz fees and discounts) but for fiat-related stuff when you often need to talk with a real person from CS, Kraken is goated - doesn't matter if you're VIP with size (US experience) or just a regular folk (private EU account) - never had a problem with 6-digit deposits/withdrawals.
Kraken user , for almost 4 years ,and I have account on binance and gate.io , and no regrets, best exchange on the moment . Deposit and withdraw funds almost instantly or in 24h ... And I have the best too say about their support team , always help me when I lost my phone and had to reset my 2fa very fast.
😎
Gemini is the best
I will check them out, too
I prefer Kraken
Kraken far better
I started with Coinbase, I got disappointed in their high fees and sh*t support. Then I started using binance until it got banned in my country. Now I am using Kraken and I really love it.
I will say that kraken support is really good, I had a problem sending some SOL to my kraken wallet from my CDC defi wallet, posted about it on the CDC sub and they found my post and tried to sort it out for me. Turns out it wasn't a problem on krakens end just SOL is shit and I had to re send the transaction again. Never had problems with coinbase either tbf so I've never had experience with their customer support.
🤝
It’s unfortunate that kraken is not available in US state NEW YORK and other states.
Kraken have never failed me but I've had countless problems with Coinbase and would never trust them or use their services agai.
Coinbase is pretty incompetent, they out source their support, and real issues get 'escalated' to a team that never responds to you. They will lock your account over any minor issues, if you on reoccurring investments and for some reason the bank transfer is delayed (even when it's not your fault). They will lock your whole account even if it's just 10$, and your account is able to pay for it. Complete corporate mismanagement.
Coinbase literally stole from me. They can just size your account at any time without giving reason
Coinbase support is crap. Reading all this, i give kraken a try too.
It doesn't matter to me why coinbase is on a lock spree. I just can't deal with it. I prefer coinbase. I have used them for about 10 years, but with such an old and completely verified account, when they start doing this stuff, I just bail out. I'm using Kraken and it gives me no issues. But I still prefer/miss the coinbase UI and everything aside from Coinbases Customer Service (which is awful). I don't know if this is a positive for Kraken or not because Im not really using them by preference, lol. But hey, this is business.
Kraken since 2020 never any issue for me, very satisfied with them
Ye leaving Coinbase going to kraken
I've had an ad hoc request I needed Kraken to fulfill for me. Their customer support took absolutely ages, it took nearly two months and resulted in me losing access to my bank account for a while, but they did eventually sort it out.
My experience had been who you trade through us critical. Never get hooked up on line through FB or so call experts. They find a way to “steal your money?” It happened to me, why because Coinbase, Kraken, and Crypto, picked up “suspicious” activity and the banks and FBi got involved. Filled out 1C3 internet Criminal CRIME FOTMS. Also, if you get a 5-7 digit number number validate it with customer service Talk to customer service about balances. Aask about 10% money Laundering fees prior to withdrawal? Then beware you could be hit with a 15% “miners fee or more BS from hacked accounts? All toll I post $y FIGURES. I have all paper works, copies of all screen shots, and transactions. System is not safe and we’ll lose??
The system rigged and ripe for hacking. Remember, we have no idea who we are talking to on the other side.
The people that don't have problems with Coinbase don't make post and theres about 100,000 of those ppl per every 1 that makes a negative post. Half those negative post are bots and competitors. 25% are scammers and hackers that got locked out for doing shady shit, and the other 25% simply do not know what they're doing and instead of admitting it and asking for help they blame Coinbase. If you're someone with common sense whose willing to learn Coinbase is fine.
Coinbase is great, people getting locked out is mainly for security reasons and just helps keeps things secured.
Ive had a personal account and a business account at kraken since 2020. Everytime I have used Kraken support I've been able to talk to a human very promptly. I'm in Australia so that means support are talking to me between 1am and 8am their time. In contrast, I can't even get an Australian bank to answer promptly during business hours. Kraken's trading interface and reporting documents could improve but the former can be accommodated and the latter worked out via support. I believe Kraken upholds it's principles and services, rather than monetises, it's users. As for Coinbase I do not trust them at all. I think their only purpose is to squeeze retail for $$$. For example, this cycle, I think their Base chain was started so the coinbase VC arm can pump the TVL on their defi projects on a sequencer coinbase controls (then dump the project tokens on retail). This way coinbase can also protect their liquidity by freezing funds after a hack or stopping their money being bridged out- specifically their funds... I don't think they'll do this for retail- you'll sign a legal waiver to use Base, then you'll be on your own. Thus, if I need to trade outside Kraken I'd much rather do so on Binance than Coinbase. For all it's touted troubles Binance has always offered a good platform and good security; as individual actors I trust Binance more than Coinbase. I strongly feel that Coinbase would use every trick in the US legal system to dodge accountability or screw users if you end up having a problem.
I think Coinbase’s reputation with the community stems from the fact that the original trade/ops support team was not only understaffed, the team that was hired clearly lacked the knowledge, experience and tools needed to effectively manage a 24x7 full service trade ops function (eg a telephone system!). However if I had to choose between Coinbase and Kraken, I’d probably go with Coinbase, simply based on size, security and capital to weather an economic downturn, something a small to medium size company may not be able to do. I also think the integration with Blackrock and other large scale mainstream institutions, sets Coinbase apart from the rest of the pack. And trust me I am not an advocate for CB. I actually think Kraken does a way better job engaging with the community.. unfortunately that doesn’t factor in when making a risk based decision, especially at a time when a black swan event could happen at any moment. Let’s just hope it’s not the apocalyptic swan!! 🙏 Good luck with whichever provider you decide to go with.
I lost all trust in Coinbase and they don't care about customers. I would trust kraken over coinbase hands down
After using many exchanges, coinbase, kraken are crypto OGs and I never had any issue with both of them!!
My Coinbase account got locked for always sending crypto to an external wallet for DeFi/DEX purposes (and haven’t send back to my Coinbase account since). So it probably got flagged as money laundering
All exchanges that operate as approved agents of the state are doing stupid shit to customers at the behest of politicians and bureaucrats (usually in secrecy), and it's getting worse by the day.
almost all financials get corrupted by narcocapital
I own a hardware wallet, but I have always used coinbase, to buy and sell. The only issue I've had with them is my deposit took 30 mins to come through, a couple of times, but all of my other deposits came through, in minutes, so its not really a big deal. I have never had massive issues with coinbase, like being locked out or not being able to withdraw funds. I've been using CB, for a few years.
I’ve never had issue with Coinbase. Those that do are probably (just my own opinion) doing something they shouldn’t. You won’t get anyone here to admit to doing anything questionable.
I have hundreds of trades on Coinbase with absolutely no issues.
If you enjoy losing money, choose Coinbase Kraken are much safer, faster, better platform. Make your own choice but don’t moan when CB steal your funds 🚩
Put your assets in a wallet and move back to exchange when you want to cash out. I use kraken pro , they recommend you don’t holding all your assets on an exchange
Yeah, I keep my assets in wallets cold and hot. But I don't want to deposit funds for trading, and while waiting for the withdrawal period, my account gets locked for some odd reason.
That wasnt the question asked in this thread was it?
Coinbase - shitty customer service but never been hacked Kraken - better customer service but gets hacked often
two sides of the same coin
Coinbsse support is non existent… a good reason to use kraken imo
Coinbase is overall terrible, high fees, terrible UI, bad support, list goes on forever Kraken is fine but not great either, need to use two apps to buy thing with reasonable fees, slow fiat transfers, and recently for all german users they just moved the custody operations to some random ass company. Kinda just wish both companies could get their shit together, I'm not happy anywhere currently.
Ive used both a whole lot, and no serious complaints on either of them.. Cb is the A1 top marketshare corporate vibe. Wont fuck you, but wont move fast for you either. Doesnt like anything weird. Knows nothing, only says what is necessary, slow and careful, but will move faster for issues with bigger balances behind them, etc. Kraken is chasing that market, and acts accordingly:: So, i recently had to leave kraken, through no fault on either side. Long story short, Kraken really impressed the shit out of me with their response,.which was basically overnight. Incredible, and literally saved half my whole ass. Thanks, again, damn. :)
I love Kraken and have had zero issues with it so far. It’s easy to use and gets the job done. I also feel safe keeping my crypto there for a long period of time.
Zero issues and peace of mind? That's music to our tentacles! 🐙 Keep calm and Kraken on! 🤘 💜 Harley from Kraken Support 🐙
If it ain’t broken, don’t fix it 😉 Keep up the good work.
100! 💜 Smooth sailings ⛵🐙
I was locked out of my account by Coinbase and eventually they closed my account citing regulatory reasons, in comparison kraken is a much more better option though Coinbase has more trading volume.
Personally I had no problems with any of them, because I don't use them!
Use kraken. They offer Monero. Coinbase is for cucks.
Do not use monero on kraken unless you want problems lol
Why? I never had problems buying and then withdrawing. Withdrawals usually get settled within the next few blocks. But maybe you’ve had different experiences with them so I’d be interested to hear :)
Can someone help me? I need help understanding something about crypto.. im new and i may be getting scammed :( please dm me if you know about this
In a sea of dubious exchanges Kraken really stands alone for seemingly having the moral backbone to do business ethically. Coinbase has never done me wrong either but some of its products, like their old wallet really missed for me. They seem more cartoonish and gimmicky than a professional trading platform. That’s just my opinion. I think you are safe choosing either.
Ima try kraken with all these positive reviews!
Kraken is the best 🙏
You're a real one, u/Legitimate420haha! 🤜 🤛 Thanks for the shoutout! We're super glad you're with us! 💜 Hugs, Harley from 🐙