Server overload: good sign of adoption, annoying for seasoned traders
Lately, we have seen record trading volumes on the Kraken exchange. This is good news for cryptocurrency in general, and for Kraken in particular in terms of revenue, but for most traders on the Kraken exchange we have seen an increase in website loading errors, fake price spikes and other glitches. Apart from being annoying, these things do not particularly lead to increasing trader trust.
A 504 error, also known as a Gateway Timeout, generally occurs when the server load for a certain domain is too big for the server in question to handle. An increase in these errors clearly shows the scalability problems that bitcoin and crypto exchanges have to deal with on a daily basis, and on the other hand it’s positive to see that the crypto trading community is growing by the day.
Order problems and white screens of death
Certainly, recent problems on Kraken which started about 3 weeks ago after a long rush of increased cryptocurrency interest, will turn newbies off from investing more in cryptocurrencies. A glitchy platform makes users feel their cash might be unsafe too. However, we would like to stress that Kraken is one of the longest and most trustworthy crypto exchanges out there, and that they are obliged to follow all normal U.S. exchange rules and regulations.
Fake price spikes
Apart from these glitches that seem to be more and more common, other users have complained about fake price spikes on the kraken exchange.
Harder to withdraw
Same problems have been noted for withdrawals and deposits, where more than once a day these screens appear:
It is evident something unusual is going on at Kraken. Whether it is bots of human error, remains unknown for now. We hope that these issues will be resolved in the near future.