Bitcoin and cryptocurrency exchange Kraken announced today the launch of Ripple (XRP) and Bitcoin Cash (BCH) margin trading. The addition expands the company’s margin offering to eight (8) assets, which already includes: Bitcoin (XBT), Ethereum (ETH), Ethereum Classic (ETC), Augur (REP), Monero (XMR), and Tether (USDT).
Leverage amounts available:
Bitcoin Cash
BCH/XBT – 2x
BCH/USD – 2x, 3x
BCH/EUR – 2x, 3x
Ripple
XRP/XBT – 2x, 3x
XRP/USD – 2x, 3x, 4x, 5x
XRP/EUR – 2x, 3x, 4x, 5x
Borrow limits available:
The borrow limits depend on the verification level of a user’s account.
Bitcoin Cash
Tier 1: 1 BCH
Tier 2: 5 BCH
Tier 3: 50 BCH
Tier 4: 500 BCH
Ripple
Tier 1: 5,000 XRP
Tier 2: 25,000 XRP
Tier 3: 250,000 XRP
Tier 4: 2,500,000 XRP
Margin fees:
Margin open fee = 0.02%
Rollover fee = 0.02% / 4 Hrs
Note that XRP and BCH are not collateral assets. This means that users cannot open margin positions against the value of their XRP or BCH balances. For this reason, users should always maintain adequate balances of other collateral currencies to maintain margin positions. Kraken notes to be extremely careful when trading collateral currencies for XRP or BCH when having margin positions open, since this will reduce account equity and could possibly lead to the liquidation of margin positions.
