Adrian said:
I use Coinbase, but I think it’s expensive.
Yes, but they have direct BaFin approval, unlike Kraken which uses some questionable third party.
Withdrawals to SEPA accounts have always been problem-free.
Adrian said:
I use Coinbase, but I think it’s expensive.
Yeah, not an option for me. The fees are crazy, and their support has been incredibly incompetent in my experience.
This is my worst nightmare. I’m also from Germany and have been using Kraken for years. Stories like yours keep me up at night. I hope you get this sorted out soon.
What do you think about Bitpanda?
howdyrobert said:
What do you think about Bitpanda?
I’ve been using it for years and can recommend it.
What’s going on with r/KrakenSupport? As someone from the EU, this is starting to make me lose faith…
LillyGrace said:
What’s going on with r/KrakenSupport? As someone from the EU, this is starting to make me lose faith…
To be fair, Kraken did what they could, but they had to wait for DLT finance verification which could take who knows how long. I guess a few days unless they reject my documents for some reason. They’ve really messed up Kraken for Germany in my opinion.
It seems like the most poorly paid and incompetent people are working at DLT finance to make money for the CEO’s tax-free gains in Luxembourg, and it’s likely to stay this way.
@Wyatt
I wonder why they worked with them in the first place…
they used to be the best in the crypto exchange world, but now all I see are negative experiences from German users since they teamed up with them. They should get rid of them, but I have no idea why they started this partnership in the first place.
their reputation is suffering.
@LillyGrace
It’s apparently due to regulations. It’s interesting that it’s only affecting Germany. There’s probably some lobbying going on behind the scenes to profit off regular people.
Wyatt said:
@LillyGrace
It’s apparently due to regulations. It’s interesting that it’s only affecting Germany. There’s probably some lobbying going on behind the scenes to profit off regular people.
They should handle these regulations in-house. Even a small team should be able to manage it better.
Let’s hope this mess doesn’t extend beyond Germany for them.
@LillyGrace
You don’t really get a choice about working with a regulatory agency in a country you conduct business in.
Paden said:
@LillyGrace
You don’t really get a choice about working with a regulatory agency in a country you conduct business in.
I thought it was a private contractor providing services to meet regulations, but if it’s a regulatory body and they’re incompetent, it makes more sense.
@LillyGrace
It’s a private company, but from what I understand, German regulators required crypto exchanges to work with them to comply with German law.
Paden said:
@LillyGrace
It’s a private company, but from what I understand, German regulators required crypto exchanges to work with them to comply with German law.
Nobody has to work with shady DLT.
Coinbase has direct BaFin approval, not like Kraken with their questionable third-party deal.
I use Bitcoin.de. I’ve never faced any issues, and it’s peer-to-peer too!
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@Firth
I understand. The frustrating part is that I received no notification. I completed the re-verification and everything was fine. I even made deposits after the re-verification, and then this hit out of nowhere with no warning at all.
That feels very shady.
@Wyatt
That really sucks. I’m sorry about what you’re going through. At least you reached out to support; they tend to be fast and helpful.
Fingers crossed this gets sorted soon!