Cryptocurrency Exchange

Cryptocurrency Exchange Kraken Adds Bitcoin Cash and Ripple Margin Trading

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Kraken is a major cryptocurrency exchange which is based in the US and is operating in regions like Japan, Canada, the EU, apart from the US. If we consider its euro volume and liquidity strength, it is at present, the world’s biggest exchange for bitcoin. It was formed in 2011. Payward, Inc. is the owner of this exchange. Bloomberg Terminal gets Bitcoin pricing from this exchange.

Now, a significant crypto exchange like Kraken has included Bitcoin Cash (BCH) and Ripple (XRP) in its offering. This addition makes its an exchange making eight offerings including its previous offerings like Augur, Bitcoin, Ethereum Classic, Ethereum, Monero, and Tether. The investors would be allowed to do margin trading of all these offerings on all of the platforms of Kraken.

Kraken had an improved user interface and collaborated it with well-integrated charts. They all are supported by mobile tradings too. However, Bitcoin Cash and Ripple are not collateral currencies.

As per Kraken, there are a few advantages of margin trading, which are:

They allow you to leverage your trading account for greater profits, as they are subject to higher risks too.

To protect the leverage funds, investors can close the margin positions when they start getting the warnings of more significant loss.

Kraken does not forget to inform its investors that inexperienced traders should do a thorough research before trading.

Recently, Korea accused Coinone’s margin trading activity as illegal gambling. Coinone is a Korean crypto exchange. In October one more US-based crypto exchange named Poloniex said that it would be stopping trading in margin products for U.S customers, as this will help an exchange to be within the rules of the regulatory. However, Japan is still very much active in cryptocurrency margin trading.

This September, one New York State Attorney referred Kraken along with other crypto exchanges including Binance, to NYDFS (The New York Department of Financial Services). The Attorney took this step on the basis of the accusation of potentially violating New York’s virtual currency rules and regulations.

On the step taken by the New York Attorney, CEO of Kraken, Jesse Powell gave his critical comment and called New York ‘controlling’. He criticized the bully behavior of New York. As a response, he did not reply to the questionnaire shared by the Attorney General, along with the report.

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