Kraken: Buy Bitcoin & Crypto

User Experience Report

Week of April 9th, 2025

This is sample report built by Anecdote, using AI to analyze feedback from platforms like the App Store and Reddit.

Highlights trends and insights

Helps you understand what matters most

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Kraken: Buy Bitcoin & Crypto

Top Insights This Week

Week of April 9th, 2025
This is sample report built by Anecdote, using AI to analyze feedback from platforms like the App Store and Reddit.
It highlights trends and insights to help you understand what matters most.
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All Insights

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TOP INSIGHTS

A weekly roundup of Kraken: Buy Bitcoin & Crypto's key feedback

1

Withdrawal Delays

Some users experience significant delays when attempting to withdraw funds, with transactions being held for extended periods beyond the expected timeframe. Approximately 5% of users report this issue, which can lead to frustration and dissatisfaction with the service.

I tried to withdraw my funds, but they were held for over 4 hours, and my account was restricted.

2

Account Closure Issues

A small percentage of users have reported sudden account closures without clear explanations, resulting in loss of access to their investments. This issue affects about 2% of users and raises concerns about account security and customer communication.

My account was closed without reason, and my investment was gone, with no response from customer service.

3

Chart Update Bug

There is a bug in the iOS app where price history charts for cryptocurrencies do not update properly, except for the 24-hour view. This affects around 3% of users, who find it necessary to reinstall the app to see updated data.

The price history charts don't update unless I delete and reinstall the app.

4

Initial Purchase Hold

New users face a mandatory hold period on their first crypto purchase, which can delay trading activities. This affects approximately 4% of users, who find the initial 3-day hold on trades inconvenient.

After my first purchase, my coins were held for 3 business days before I could trade.

COMPETITORS ANALYSIS

Stay ahead by benchmarking your performance against competitors and keeping your finger on the market pulse

#1 USERS CHOICE

Coinbase: Buy Bitcoin & Ether
Coinbase is praised for its user-friendly interface, strong security features, and ease of use for both beginners and advanced users. However, some users report issues with customer support and unexpected fees, which can be frustrating.

#2 RUNNER UP

Kraken: Buy Bitcoin & Crypto
Kraken receives high marks for its ease of use, security, and innovative features, with many users expressing satisfaction with the app's performance and customer support. However, some users have experienced issues with withdrawals and account linking, leading to mixed feedback.

#3 Straggler

Binance: Buy Bitcoin Securely
Binance is appreciated for its wide range of cryptocurrencies and advanced trading features, making it a favorite among experienced traders. Nonetheless, some users have encountered difficulties with customer service and account verification processes.
Competitors Analysis
Stay ahead by benchmarking your performance against competitors and keeping your finger on the market pulse.
Coinbase: Buy Bitcoin & Ether
#1 Users Choice
Coinbase is praised for its user-friendly interface, strong security features, and ease of use for both beginners and advanced users. However, some users report issues with customer support and unexpected fees, which can be frustrating.
Kraken: Buy Bitcoin & Crypto
#2 Runner-up
Kraken receives high marks for its ease of use, security, and innovative features, with many users expressing satisfaction with the app's performance and customer support. However, some users have experienced issues with withdrawals and account linking, leading to mixed feedback.
Binance: Buy Bitcoin Securely
#3 Straggler
Binance is appreciated for its wide range of cryptocurrencies and advanced trading features, making it a favorite among experienced traders. Nonetheless, some users have encountered difficulties with customer service and account verification processes.

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Nuggets

Major Highlights of the Week

Withdrawal Delays
Users experience significant delays when attempting to withdraw funds, even after the initial 72-hour hold period for first-time deposits. This issue is exacerbated when using the lightning network, which is expected to be fast, leading to frustration and account restrictions.
After waiting 72 hours, my withdrawal via the lightning network was pending for over 4 hours, and my account was restricted.
Account Closure
Some users have reported unexpected account closures without any prior notice or explanation, resulting in the loss of access to their investments. This lack of communication and transparency severely impacts user trust and satisfaction.
My account was closed without any reason, and my investment disappeared with no response from support.
Chart Update Bug
The iOS app has a bug where cryptocurrency price history charts do not update beyond the 24-hour view, requiring users to reinstall the app for updates. This technical issue disrupts the user experience and hinders effective portfolio management.
Price history charts freeze and only update after I delete and reinstall the app.
Pending Transactions
Users face issues with transactions being marked as pending for extended periods, especially when using debit cards, causing unnecessary delays and financial inconvenience. This problem affects the reliability of the app's transaction processing.
My debit card transaction was pending for over 5 business days, causing frustration.
Customer Service Delays
There are complaints about slow or unresponsive customer service, which fails to address urgent issues promptly. This lack of timely support can lead to dissatisfaction and a negative perception of the platform's reliability.
Customer service is slow to respond, leaving my issues unresolved for days.
Initial Trading Hold
New users experience a mandatory 3-day hold on their first crypto purchase before they can trade, which is not clearly communicated upfront. This unexpected restriction can deter new users and affect their initial experience with the platform.
I had to wait 3 days to trade after my first crypto purchase, which was not mentioned before.
Nuggets

Major Highlights of the Week

Everything you need to know about user experience
Withdrawal Delays
Users experience significant delays when attempting to withdraw funds, even after the initial 72-hour hold period for first-time deposits. This issue is exacerbated when using the lightning network, which is expected to be fast, leading to frustration and account restrictions.
Account Closure
Some users have reported unexpected account closures without any prior notice or explanation, resulting in the loss of access to their investments. This lack of communication and transparency severely impacts user trust and satisfaction.
Chart Update Bug
The iOS app has a bug where cryptocurrency price history charts do not update beyond the 24-hour view, requiring users to reinstall the app for updates. This technical issue disrupts the user experience and hinders effective portfolio management.
Pending Transactions
Users face issues with transactions being marked as pending for extended periods, especially when using debit cards, causing unnecessary delays and financial inconvenience. This problem affects the reliability of the app's transaction processing.
Customer Service Delays
There are complaints about slow or unresponsive customer service, which fails to address urgent issues promptly. This lack of timely support can lead to dissatisfaction and a negative perception of the platform's reliability.
Initial Trading Hold
New users experience a mandatory 3-day hold on their first crypto purchase before they can trade, which is not clearly communicated upfront. This unexpected restriction can deter new users and affect their initial experience with the platform.

Quotes of the week

Hear from some of the most impactful users to drive changes

The app is easy to use and offers a seamless experience, but I faced issues with withdrawing funds as my account was restricted and transfers were pending for hours. Customer service needs improvement.
LAG9666
Week of April 9th, 2025
The iOS app has a bug where price history charts for cryptocurrencies do not update beyond the 24-hour view, requiring me to delete and reinstall the app to see updates.
IronFyst
Week of April 9th, 2025
Kraken is simple and offers helpful stats for both beginners and experienced users. The platform is user-friendly and trustworthy, making it a great choice for crypto trading.
Kanye West PA
Week of April 9th, 2025

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The quotes of the week

Hear from some of the most impactful users to drive changes
The app is easy to use and offers a seamless experience, but I faced issues with withdrawing funds as my account was restricted and transfers were pending for hours. Customer service needs improvement.
Candice Wu
App Store
The iOS app has a bug where price history charts for cryptocurrencies do not update beyond the 24-hour view, requiring me to delete and reinstall the app to see updates.
Kelly Williams
Google Play
Kraken is simple and offers helpful stats for both beginners and experienced users. The platform is user-friendly and trustworthy, making it a great choice for crypto trading.
Koray Okumus
Google Play

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