A growing coalition of users is pushing back against Kraken's new subscription service, Kraken+. With traders debating its value, the announcement has led to spirited discussions about who truly benefits from this service and whether it lives up to its promises.
The recent email detailing Kraken+ outlined enticing benefits such as zero fees on trades up to $10,000 per month and interest rates exceeding 4% on USDG for just a $5 monthly fee. However, opinions in the trading community are far from uniform. Some traders, especially those who trade less frequently, are skeptical about whether the subscription costs outweigh the potential benefits. One user succinctly noted, "It's only worth subscribing if the costs of fees saved exceed the subscription price."
Interestingly, new feedback reveals more clarification on the zero-fee trade policy. One commenter pointed out, "Yep, Kraken+ gives you zero fees on up to $10K/month. That $10K is total trades, not per trade when using Kraken." This underscores that the cumulative amount across different trading methods—including Buy, Sell, Convert, and Recurring purchases—counts toward that limit.
Furthermore, some users continue to express concerns that Kraken+ may primarily cater to high-volume traders. Questions arise like, "Is this only for high-volume traders?" and while many are curious, some feel it may be more suited for just the big players of the market. One user stated, "No way they would go zero fee for futures." Another shared, "I trade MEXC futures with zero fees," directly bringing Kraken's offer into comparison with competitors.
Usability issues have also come to the forefront. One user remarked, "Seems they want me to use the Kraken app vs. the website. I don't have that installed." This sentiment resonates with a subset of users who feel alienated by a service that seems designed for a specific demographic.
A notable downside mentioned pertains to delays in crypto withdrawals that new users flag as a potential issue. One user expressed, "The only downside is you can't withdraw your crypto for 7 days after the initial deposit." This detail has caught the attention of many and could discourage potential new sign-ups.
The ongoing discussions highlight a fractured community response; while some users hope for an improved trading experience with Kraken+, many are hesitant about hidden costs and value proposition. Can Kraken iron out these concerns and enhance its offerings?
"The community watches closely as developments unfold."
As Kraken contests these challenges, the full impact on its user base remains uncertain. With subscription models becoming commonplace in trading environments, how Kraken+ develops could have far-reaching implications on traders across the spectrum.
🔑 $5/month grants access to zero fees on up to $10K in total trades.
🚫 Some low-volume traders feel excluded from this service.
🌟 4%+ interest on USDG looks promising for those who keep an eye on market trends.
⏳ 7-day hold on crypto withdrawals could deter many from subscribing.
Time will tell how Kraken+ adapts in response to user feedback while balancing the diverse strategies employed by different traders.
For further insights on Kraken services, visit Kraken.
For information about trading fees, explore Investopedia.
