Kraken is a fine cryptocurrency trading platform when you’re not doing anything complicated, like wiring them your money! Their way of handling your deposit will make you feel like you’re just rolling a dice. That means, they MAY or MAY NOT give you back your own money.
Also, a note to US residents, they introduced a combined, annual deposit/withdraw limit on US resident’s personal account, regardless what your tier’s at without announcing it to the world. What’s worse, Kraken will let you deposit money, and they will not bother to tell you they won’t take them. Then, you have to spend weeks, waiting for them to cancel and refund your transfer.
So, my advice to everyone is, if you only need a few trades done, and not dealing with a large amount; then chances are, they will not notice your account and nothing bad will happen to you. If you are ever dealing with fiat, that involves traditional financial institutions, it’s a little over their head. Pick a different exchange to do that.