• Tue, 20 Aug 2019, 10:20 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Kraken launches margin trading for Bitcoin Cash and Ripple

Mon, 31 Dec 2018, 05:30 am UTC

Cryptocurrency exchange Kraken has announced the launch of margin trading for Bitcoin Cash (BCH) and Ripple (XRP).

BCH and XRP are the latest additions to Kraken’s margin trading offering which includes Bitcoin (XBT), Ethereum (ETH), Ethereum Classic (ETC), Augur (REP), Monero (XMR), and Tether (USDT).

For BCH, users will now be able to trade BCH/XBT with 2x margin, and BCH/USD and BCH/EUR with 2x or 3x margin. For XRP, Kraken has introduced 2x and 3x margin for XRP/XBT, and 2x, 3x, 4x, or 5x margin for XRP/USD and XRP/EUR. The borrow limits will depend on the verification level of a user's account.

In its official announcement, Kraken clarified:

“Please note that BCH and XRP are not collateral currencies. This means you cannot open margin positions against the value of your BCH or XRP balances. For this reason, you should always maintain adequate balances of other collateral currencies to maintain your margin positions.”

The exchange also cautions users to be careful when trading collateral currencies for BCH or XRP with open margin positions as this will reduce their equity and could lead to the liquidation of their margin positions.

“Margin trading allows you to leverage your account for greater profits, while also assuming greater risk,” Kraken explained.

“While margin trading can lead to greater profits, it can also lead to greater losses. Also, if the losses are large enough, your margin positions can be forcibly closed in order to protect the funds you borrowed to open the positions. This means that you may be forced to take a large loss on a trade rather than having the option to try and wait for a more favorable price.”

Earlier this month, reports suggested that Kraken was considering a private offering and has sent out emails to its high-value clients informing them about the investment opportunity.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,698.50 (-0.06%)
  • Ethereum (ETH) $197.53 (-1.62%)
  • XRP (XRP) $0.275300 (-3.99%)
  • Bitcoin Cash (BCH) $319.03 (-0.76%)
  • Litecoin (LTC) $75.67 (-2.90%)
  • Bitcoin (BTC) $10,698.50 (-0.06%)
Aug 20, 2019 (Tuesday)
09:26
bitFlyer teams up with Tpoint Japan to rollout bitcoin rewards program
09:03
Crypto exchange startup INX Limited eyes $129.5M IPO, marking the first SEC-registered security token sale
08:00
New York court denies Bitfinex, Tether's lack of jurisdiction claim
07:16
Crypto Technicals: BTG/USD recovery lacks traction, weakness likely to continue
07:15
Ethereum Foundation launches Korean version of its website, announces large-scale translation program
06:39
Crypto exchange BitMEX to block users in from Seychelles, Hong Kong, Bermuda
06:35
Cybersecurity veteran David Damato joins crypto exchange Gemini
05:42
Deloitte unveils demonstrational platform for blockchain solutions
05:36
Crypto Technicals: ETH/USD consolidates break above 200H SMA, potential 'Golden Cross' raises scope for upside
04:36
Crypto custodian BitGo poaches new Chief Revenue Officer from rival Xapo
03:50
97% of South Korean crypto exchanges on the verge of bankruptcy; blockchain startups now want to go overseas: Report
03:41
Philippines' central bank approves 2 new cryptocurrency exchanges
03:38
Association of Cryptocurrency Enterprises and Startups, Singapore rolls out new Code of Practice
Aug 19, 2019 (Monday)
13:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:36
World Bank raises another $33M for Kangaroo bond via blockchain technology
12:28
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:49
Silvergate Bank reveals plans to offer crypto-backed loans this year
11:18
Crypto Technicals: IOT/USD bias higher on intraday charts, 'Death Cross' and 21-EMA resistance likely to keep upside limited
10:35
Crypto Technicals: BTC/USD breaks above 55-EMA, scope for upside resumption
10:34
Binance seeks to empower countries to spur new currencies via new open blockchain project ‘Venus’
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft