We’re thrilled to announce that Kraken now supports new margin pairs for Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Polygon (MATIC), Chainlink (LINK), Dogecoin (DOGE), Solana (SOL) and Decentraland (MANA)!
Margin trading is now available for the below pairs:
|Pair base||Pair name||Available leverage||Long Position Limit||Short Position Limit|
Here’s what you need to know about the assets:
Bitcoin (BTC) – Bitcoin is an invention that, for the first time in history, enabled a group of software users to create and manage a digital money supply outside the control of any government or bank.
A revolutionary idea when introduced in 2009, Bitcoin continues to have implications that are just beginning to be understood and explored by technologists and economists today.
Ripple (XRP) – Launched in 2013, XRP aims to complement traditional payments, migrating transactions that occur today between databases controlled by financial institutions to a more open infrastructure.
One of the more ambitious cryptocurrencies to go live in the wake of Bitcoin, XRP is notable for a design that sparked continuing discussion about how blockchains can be architected and the use cases they should attempt to address.
Ethereum (ETH) – One of the most ambitious blockchain projects, Ethereum (ETH) seeks to use cryptocurrency to decentralize products and services in a wide range of use cases beyond money.
If Bitcoin seeks to serve as a digital gold, Ethereum has taken a different approach, generalizing so its users can create any number of custom assets and programs governing their operation.
Polygon (MATIC) – Polygon, formerly known as the Matic Network, is a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks.
At the center of Polygon’s vision is Ethereum, a platform that is home to a range of decentralized applications, ones where you can join virtual worlds, play games, buy art, and participate in a range of financial services. However, this much activity on its blockchain has rendered Ethereum almost unusable, as the cost of transmission is rising and traffic is becoming clogged.
Chainlink (LINK) – Chainlink is a cryptocurrency aiming to incentivize a global network of computers to provide reliable, real-world data to smart contracts running on top of blockchains.
If you’re unfamiliar, smart contracts are agreements programmed to execute if and when certain conditions are met. To date, smart contracts have been used for everything from creating novel crypto-financial products to developing new crypto assets.
Dogecoin (DOGE) – Dogecoin is a cryptocurrency inspired by a popular meme known as Doge, a picture of a Shiba Inu dog accompanied by colorful Comic Sans phrases meant to convey its inner monologue.
Launched at the end of 2013, Dogecoin rose to popularity at a time when developers were just beginning to explore the possibilities afforded by Bitcoin’s (BTC) invention.
Solana (SOL) – Solana is a platform that seeks to provide a foundation for decentralized applications (dApps) in a way that prioritizes scalability.
With this aim, Solana is one of several competing blockchain projects such as Ethereum, Zilliqa or Cardano that hopes to grow an ecosystem of cryptocurrency-powered products and services.
Decentraland (MANA) – Decentraland is a software running on Ethereum that seeks to incentivize a global network of users to operate a shared virtual world.
Decentraland users can buy and sell digital real estate, while exploring, interacting and playing games within this virtual world. Over time, the platform has evolved to implement interactive apps, in-world payments and peer-to-peer communication for users.
Keep an eye on our status page for updates. Check out all of Kraken’s supported margin pairs here.
Will Kraken offer more pairs on margin?
Yes! But our policy is to never reveal any details before launch – not even which pairs we are considering. All of Kraken’s listed margin pairs are available on our website. Our client engagement specialists cannot answer any questions about which pairs we may be listing in the future.
Trade with caution
There is no guarantee that a limit order will execute. There is no guarantee of margin pool availability at all times. There is also no guarantee of a market order executing at a certain price. The availability and liquidity of the particular digital asset will impact these types of orders.
Offering margin trading on an asset or token is not a recommendation to buy, sell or participate in the associated network. Do your own research and invest at your own risk.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell or hold any digital asset or to engage in any specific trading strategy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position.
Image and article originally from blog.kraken.com. Read the original article here.