Why should I even use Kraken?
Kraken fees are not justified when they have such low liquidity. Most coins have 90% less volume than that of top exchanges, but Kraken squeezes out practically the same fee structure. So if I want my order filled NOW on the exchange’s average altcoin, I have to take a massive slippage hit on top of their fees.
Why would Kraken have it set up this way? Lower your fees to bring in more liquidity. Stop automatically geographically restricting coins and actually do some DD, other US exchanges offer so many coins that Kraken restricts to US traders. This just shows Kraken is unwilling to bat for their customers legally.
Customer service is nice, but if it’s too expensive for customers to stay in the exchange compared to others, people choose their money over faster response times. Especially considering the average user never even needs to interact with customer service. Until these things are fixed, I don’t see why I or others would use Kraken over other exchanges. The reasons for such low liquidity are glaringly obvious but Kraken makes no steps to solve it. Kraken markets itself as a top tier exchange but they lack most of the things that make it one. It makes no financial sense to use Kraken.
Am I missing something?
submitted by /u/MisterConway
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