Originally I wanted to do a post about the updated Kraken website! Their update was supposed to last 2h but now, over 36h the website is still not back up:
Here is a little bit of background why I was excited about the update at first:
When I first used Kraken back in 2016, buying and selling Crypto on the exchange was pretty smooth. As more and more users started using the website, Kraken started to become a pain to use! Errors like the ones seen below became more frequent starting in summer 2017 and it ended up being really annoying to set orders.
While most issues were due to the rapid user growth, it took Kraken until mid November to realize these issues needed to be fixed. They later promised an update would occur in mid December. I was looking forward to this update as Kraken was my go-to exchange at the time.
However, until January nothing happened and the server issues got worse.
They finally announced an update for January 6th, which then was delayed further and further all the way to January 11th.
They also announced the update would take around 2h, but even now, over 36h after the update was supposed to finish, the site is still not up and running and there seems to be no further explanations by the Kraken team other than them announcing every few hours that it will take even longer.
In my opinion this is a big problem, as this definitely makes them look really bad. Many investors have millions of dollars worth of Crypto and fiat deposited on their website and cannot access them for a prolonged period of time and at the same time have no idea what really is going on! Remember, Mt.Gox was down for about 3 days before they admitted Bitcoins were lost. I am not saying any disaster like that will repeat, but the longer they are offline without telling us what is going on, the more suspicious it gets.
Let me know in the comments what you think is really going on!
