Kraken expands trading with the introduction of new margin pairs on Shiba Inu and others, offering 3x leverage and fee adjustments to enhance trading options.
Kraken has recently expanded its margin trading offerings with several new cryptocurrency pairs, notably including Shiba Inu (SHIB). In addition to SHIB, the new margin trading pairs also include ICP (Internet Computer), PEPE, and WIF (Dogwifhat), each offering tailored leverage and position limits.
Specifically, the SHIBUSD pair provides traders with 3x leverage, allowing a high volume of trading positions up to 1,500,000,000 (1.5 billion) SHIB. However, it bears mentioning that the recent addition is specifically on Kraken Pro, Kraken’s advanced trading platform.
📣 New margin pairs now available for:
✅ $ICP @dfinity
✅ $PEPE @pepecoineth
✅ $SHIB @Shibtoken
✅ $WIF @dogwifcoinGain exposure to these tokens and 120+ margin pairs on Kraken
*Geographic restrictions apply
Trade now 👇 https://t.co/wYKejnxiyV pic.twitter.com/uXH2PyM0YL
— Kraken Pro (@krakenpro) May 2, 2024
Margin trading allows traders to use borrowed funds to potentially increase their returns. However, this comes with increased risks and costs, including fees for opening, holding, and closing positions. Traders must hold at least one collateral currency and adhere to platform-specific and regulatory compliance to engage in margin trading.
Recent Developments in Shiba Inu Trading
In addition to expanding margin trading options, Kraken has been active in promoting Shiba Inu’s liquidity and accessibility. In 2023, Kraken launched SHIB/USD perpetual futures with up to 10x leverage for its average users, a significant enhancement for Shiba Inu traders seeking to capitalize on market movements through futures contracts.
During a 100-day promotional period in last year, the exchange offered 0% maker fees and only 0.01% taker fees for SHIB and PEPE perpetual futures trading. This fee adjustment aimed to attract an increased volume of traders by making it more cost-effective to engage in frequent and high-volume trading strategies.
The latest development comes at a time when Shiba Inu has continued to enjoy extended support from multiple exchanges. Most recently, Binance Japan introduced a Shiba Inu trading pair denominated in the Japanese Yen. Leading exchange Crypto.com also launched a new SHIB trading pair in January.
It is essential for traders to consider the geographic and regulatory restrictions that apply to Kraken’s services. These restrictions can affect the availability of certain trading options depending on the trader’s location, proving the importance of compliance with local laws and exchange policies.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
