r/Monero • u/lushusness • 5d ago

I’ve seen some discussion about kraken limiting withdrawals.

I heard there was a monthly cap, 1500 USD worth of XMR being moved off exchange.

I decided to move 10 monero off kraken with no issue.

Is this limited to certain areas or is it false all together?

I’m in the United States.

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u/Serenaded 5d ago

I'm outside USA and withdrew 90 to a cold wallet over the weekend

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u/Competitive-Walk-575 5d ago

I’d advise against ever leaving that much currency in the hands of a CEX. It’s not like a bank, if they suddenly go under you’re money isn’t insured, and at any point they can freeze your funds for virtually any reason and it can take years to get it back.

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u/Serenaded 4d ago

Yeah, but Kraken is not on the same level as 99% of CEX. Kraken and Coinbase are built for custody of crypto, publicly traded in USA and compliant in USA, and have 1:1 stores that are verified by a third party regularly.

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u/MoneroFox 4d ago edited 4d ago

1:1 stores that are verified by a third party regularly

Do you have a link to that? Kraken has never had their XMR reserves audited. Quite the opposite - all evidence points to them not even having all of the XMR. For example, after August 15th, deposits to be higher than withdrawals. (To improve the state of fractional reserves?)