The popular exchange of cryptocurrencies Kraken announced that margin trading for Bitcoin Cash (BCH) and XRP was launched. This would allow users to exchange virtual currencies with funds that actually did not allow them to make more profits but also amplifying their losses. The information was released in a post on the company blog on December 29th.
There are now eight assets available to be traded marginally, including Bitcoin (XBT), Ethereum (ETH), Ethereum Classic (ETC), Augur (REP), Monero (XMR) and Tether (USDT).
The leverage available to users will depend on the level of verification of the account. Higher-level accounts may be able to use 500 BCH or 2.5 million XRP coins. Levels of leverage start from 2x for Bitcoin and 5x for XRP.
As mentioned above, there are risks in margin trading. On the issue, the exchange wrote:
"Note that BCH and XRP are not collateral, which means that margin positions can not be opened with respect to the value of the BCH or XRP balances, which is why it is necessary to maintain adequate balances of other collateral currencies to maintain marginal positions. . "
XRP it is constantly growing in a bear market that has affected most of the virtual currencies in space. A few days ago, Binance announced that XRP will be added as the quote currency. It can now be traded against Tron (XRP / TRX) and against Zcoin (XRP / XZC).
Furthermore, XRP was able to overcome Ethereum (ETH) as the second largest virtual currency on the market a few days ago. Although in the past it has exceeded XRP Ethereum he could not support his position, this time it was different. Since he has passed Ethereum who does not fall from second place.
We have enabled margin trading for Bitcoin Cash (BCH) and Ripple (XRP)! The addition of our margin offer to 8 assets is added. Read more on our blog: https://t.co/DSBaMBdOR7
– Kraken Exchange (@krakenfx) 29 December 2018
At the time of writing, XRP has a market capitalization of $ 15.11 billion and each currency can be purchased for $ 0.37. Bitcoin Cash is trading near $ 166 and has a market capitalization of $ 2.91 billion.