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Kraken

4
Total Score 5.2
Design
3.0
Performance
7.0
Usability
2.0
Functions
4.0
Support
10.0

Founded in 2011, San Francisco-based Kraken is the largest Bitcoin exchange in euro volume and liquidity and also trading Canadian dollars, US dollars, British pounds and Japanese yen. Kraken is consistently rated the best and most secure Bitcoin exchange by independent news media. Kraken was the first Bitcoin exchange to have trading price and volume displayed on the Bloomberg Terminal, the first to pass a cryptographically verifiable proof-of-reserves audit, and is a partner in the first cryptocurrency bank.

Statistical data provided by Coinmarketcap.com
Kraken
5.2 Total Score
1 reviews
Add your review
Design
3.0
Performance
7.0
Usability
2.0
Functions
4.0
Support
10.0
1 Comment
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  1. DanielFragaBR
    DanielFragaBR November 23, 2016 at 7:20 pm
    2.6
    Design
    30
    Performance
    70
    Usability
    20
    Functions
    40
    Support
    100

    Although Kraken is a reliable exchange, with a great support, the main issue I have to deal with Kraken is the 50 withdrawal address limit (which should be included by hand in the site). This severely limits the API, since the withdrawal API only works for previously included addresses on the site. To make things worse, when you withdraw using the API to a newly added address, it requests an e-mail confirmation. In other words, the API is heavily dependent on human intervention and can’t be used reliably by automated bots. I suggested many times to the support a feature to allow us to include the withdrawal address through the API, but they ignored me.

    In the past their API was even worst, mixing pair prices format like “BTC/LTC” with “ETH/BTC”. Fortunately they solved this recently.

    Besides that, the site is non-intuitive. For example, if I want to see the orderbook, there isn’t a direct link to the orderbook. Instead, I have to click on “New Order” and then find the “Order Book” tab at the bottom. This design isn’t very good for new users (which want to see the orderbook just below the fields for input the new orders, just like any other exchange).

    It seems Kraken was designed by a bureaucrat mind, someone who likes to complicated simple things and build something overcomplex.

    To sum up, Kraken has a lot of potential, but it should act more like the other exchanges, instead of doing things in a bizarre way, treating API users like child. If someone use their API, this mean the user is smart enough to know what he/she is doing. If the API is limited (like in the withdrawal address example), I don’t understand the reason for the API in the first place. At least give us an option to withdrawal to any address we want using the API (or a way to include/exclude addresses in an automated way). It’s painful to include each address by hand, otherwise we wouldn’t use the API! 😉

    + PROS: - Trustworthy exchange - Excellent support
    - CONS: - confusing interface - limits number of withdrawal addresses - API doesn't allow inclusion/exclusion of withdrawal addresses (worst API for automated withdrawal)
    Helpful(9) Unhelpful(0)You have already voted this

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