I've had a terrible time with Kraken. I have attempted to get through their verification process 4 times. Each time it can take a week or more to receive a response. The response is usually very difficult to interpret. There is lots of boilerplate text. I signed up sometime over the summer, it is now January and I still am not verified. I've switched to Gemini and won't be looking back.
Pros:I can't think of anything Kraken does better than other exchanges.
Cons:Impossible verification process. Website crashes after 50% of clicks. Website is very slow.
Overall a good product, but many technical problems + the company is taking a position against the clients by disabling trading at times, suspending market order execution, or creating an artificial slippage which they then take to their own pocket.
Pros:Liquid market
Cons:Website is not responsive at least several times a week, execution is slow and there is quite a lot of (artificial)lippage in market trades!
I havent used my account for a while, but with the recent surge, I decided to jump on the wagon! I still find it to be one of the most user-friendly platforms, and their list of crypto coins has increased :-) woohoo
Pros:Very security conscious and their support has improved ten-fold!
Cons:They recently changed verification requirements for fiat funding, makes sense, but very little notice was given. The process was quick tho!!
I‘ve been using Kraken as a professional trader and account manager since 2016 and I‘m positively surprised about the recent changes. The new UI is really nice and shows quite a lot of improvements in regards to usability and overall performance. While Kraken is great for advanced users, it can be hard for beginners at times. But it looks to me like the company is listening to feedback and does a lot of improvements, sometimes more obvious ones, sometimes tweaks behind the scenes. Now, what really makes Kraken my go-to exchange is their customer support. Since last year, I‘ve had a number of issues (my own fault) and had to contact them to restore my access, check my security settings etc. I always received a friendly reply within hours at most. Impressive! If you‘re able to fulfill some of the wishes many people have, such as releasing a good mobile application, then I‘m sure Kraken will be very far ahead, compared to the other exchanges these days.
Pros:The trading platform; real customer support; most reliable exchange on the market; good for the industry
Cons:Not so beginner friendly as some of the competitors; amount of coins can be too low for people with very diversified portfolios
