Are your assets safe on Kraken??
Are your assets safe on Kraken??
I was about to make another deposit through Kraken app, as I was prompted to update the app.
I followed to an App Store to try and make sure it’s the right App and all and before updating I started reading this App reviews.
To be honest I am a little concerned now, because there people saying in the reviews that their accounts were closed without any explanation for security reasons.
Could you please tell me what you think about it??
I’m with Kraken for many years now. Never had any issue.
As they are registered financial institution the have to comply with laws (KYC …) and I believe most of the bad reviews you found was done by “not so much law abiding” users or just someone who lives in crypto hostile jurisdictinon and kraken was forced to do some action.
As of my opinion. Your funds are safe with them as long as not violating AML and other policies.
I have never use the exchange before and the same review you saw was the same thing I saw on Gemini. While I can say that reviews sometimes might be misleading but you see crypto reviews, take them seriously. Kraken isn’t the only exchange available for you I believe, if it doesn’t work you should try other centralized exchanges if that’s what you want.
I do not know much about altcoins, but bitcoin developers gives you so many options.
If you have a computer that you are no more using it, you can use it as a cold storage wallet.
If you have 2 or 3 devices (phone, computer or tablet), you can use 2 of them or more to setup a multisig wallet.
Always remember this, “not your keys, not your coins”.
If you don’t have a hardware wallet yet then figure out the wallets that you hold your private keys and transfer it there if you have no plans of trading at all in kraken or any exchanges.