World’s most trusted and secure cryptocurrency exchange platform Kraken has permitted margin trading for two additional cryptocurrencies, i.e., Bitcoin Cash (BCH) and Ripple (XRP). So, now, there are total eight cryptocurrencies for which margin trading is available on well-known and most secure cryptocurrency exchange platform Kraken.
Currently, all the Krakon platforms are offering margin trading for eight cryptocurrencies. Furthermore, all the Kraken exchange platforms have been updated to the new version. A newer website has a better user interface and integrated charts. Also, it has additional tools and is more supportive of mobile trading.
According to a news release by Kraken, Bitcoin Cash (BCH) and Ripple (XRP) cannot be used as security currencies. In other words, users cannot open margin positions against the value of Bitcoin Cash (BCH) or Ripple (XRP).
Margin trading includes opening a margin account in which users borrow money from their brokers. It is quite different from the regular cash account which is used for trading. Margin trading allows a user to earn greater profits. However, chances of bigger risks are associated with margin trading.
Kraken advises inexperienced traders to perform deep research on trading option. Korea declared Coinone’s margin trading invalid in the June month of this year. Furthermore, a well-known cryptocurrency exchange platform Poloniex reproached in October month for removing margin products, especially for US customers.
Kraken itself was in the news in the September month of this year. A New York State Attorney listed Kraken, Binance, and Gate.io for infringing New York’s Virtual currency rules.
Jesse Powell, CEO, and Co-founder of Kraken has condemned this decision of New York Attorney. He denounced this tyrant conduct by New York. Moreover, he did not respond to the questionnaire sent by the Attorney General attached with the report.
Till November month of this year, Kraken used to offer margin trading for only six cryptocurrencies. These are Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Augur (REP), Monero (XMR) and Tether (USDT). But, now, this list contains two more cryptocurrencies – Bitcoin Cash (BCH) and Ripple (XRP).
Kraken is the largest bitcoin exchange platform in euro volume and liquidity. It has headquarters in the United States of America and operates in various countries such as Canada, Japan, the EU, and the US.
