What on-ramp (custodial) account are you using?

I just had a bad experience with Kraken. As I've done in the past, I used my Kraken Pro account to buy USDC using PayPal, and planned to withdraw it to my wallet this morning and immediately pay my supplier. There's a 72 hour hold on Paypal-funded purchases before you can withdraw, so I'd arranged to make payment to my supplier using that timeline.

Well yesterday, over 48 hours after my deposit, I got a message from Kraken saying they had a technical issue on their end with my Paypal deposit and it didn't go through, despite the USDC I'd purchased showing up in my Kraken account. I asked them if I re-deposited the funds if they would waive the 72 hour hold so I could get my funds on the promised timeline, and they refused. So, because of a mistake on their end, I was not able to make my purchase. If they can't manage to handle a simple deposit, how can I trust them with my funds at all?

I originally went with Karaken Pro because the fees are really low, but I guess you get what you pay for. I'm probably switching to Robinhood.
 
ColdBubbles said:


I just had a bad experience with Kraken. As I've done in the past, I used my Kraken Pro account to buy USDC using PayPal, and planned to withdraw it to my wallet this morning and immediately pay my supplier. There's a 72 hour hold on Paypal-funded purchases before you can withdraw, so I'd arranged to make payment to my supplier using that timeline.

Well yesterday, over 48 hours after my deposit, I got a message from Kraken saying they had a technical issue on their end with my Paypal deposit and it didn't go through, despite the USDC I'd purchased showing up in my Kraken account. I asked them if I re-deposited the funds if they would waive the 72 hour hold so I could get my funds on the promised timeline, and they refused. So, because of a mistake on their end, I was not able to make my purchase. If they can't manage to handle a simple deposit, how can I trust them with my funds at all?

I originally went with Karaken Pro because the fees are really low, but I guess you get what you pay for. I'm probably switching to Robinhood.

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This rings to me as a problem with PayPal not Kraken. I've been using Kraken for years and never had a single issue, but I just used my checking/debit card.

Kraken is objectively one of the best crypto exchanges in the US. They publish reports on how many info requests they get from governments and apparently only give data of 57% of those requests.



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Announcing the 2024 Kraken Transparency Report



Consistent disclosure of compliance information demonstrates our longtime commitment to complying with legal and regulatory requests in a way that is consistent with law enforcement and aligns with our ideals: Financial freedom, permissionless access to assets, and the acceleration of global...

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blog.kraken.com

They have been known to be stubborn about unlawful or unfounded data requests, and they've only been hacked once, which sounds bad until you compare them to Coinbase or Binance.

Kraken is also the only major exchange to keep Monero listed despite massive pressure against it.
 
I'm using both Exodus and Tangem. Exodus is where my initial transactions happen. Once I hit a certain amount of crypto, I send it to Tangem to be kept in a cold wallet.
 
petros600 said:


I use Coinbase to buy USDT and then I transfer it to exodus wallet(ETH network)

I think it costs my few cents the transaction

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why exodus wallet ve coinbase wallet, just curious. I use coinbase wallet and it's great.
 
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