Risk With Karaken Deposit Address

[Yugocean]

Kraken is a popular crypto exchange platform, but it has risks with its addresses.
Users of Kraken are urged not to save Kraken deposit addresses for future transactions to Karaken from any platform.

THE RISK
The issue with using a Karake address is that it only supports 5 deposit addresses at a time, therefore generating a sixth address will result in the oldest address being removed. Not only that, but there are several other circumstances in which your addresses will expire prematurely, such as a change or update to Kraken's deposit processing processes.

Your address will have no impact on your balance and ledger history records. But, if the removed addresses are still available, you will receive assets sent to it within 8 weeks; otherwise, any assets sent to an expired address will be lost.

Careful;- If you still wish to utilise Kraken for a deposit, double-check the deposit address on your deposit page. If required, always copy address from Karaken, but don't save it.

​

 

[Suba]

Thanks for your enlightenment, Kraken is a very popular crypto exchange which is included in the top 10 crypto exchanges in 2022, Kraken claims to be only a crypto exchange not a bank, so it doesn't allow you to store crypto funds for a long time, So all available crypto deposit addresses only temporary, and each time you will deposit will get a different crypto address. If you deposit fiat money (bank transfer) from my country, you will be charged a fee of around $36, or depending on the local bank that we use. Kraken will also charge higher fees to standard account users than pro accounts. In my opinion, Kraken exchange will be more suitable for big traders (whales) who make a single transaction (trade) above $25k.