Kraken and Kraken Pro Introduces Tezos Margin Trading
The traders of Advanced Tezos or XTZ can now aspire to attain bigger profits with the new options of leverage trading. Yes, that is right, the margin trading is now live on Kraken and Kraken Pro, but it comes with its risks.
Beginning today, the traders can start with the positions till 3 times the collateral currencies value, with crypto as well as fiat currencies which are there in their user accounts. They can put long as well as short bets over four trading pairs directions available.
Tezos is deemed as the ninth asset on Kraken for margin trading, after Bitcoin, Bitcoin Cash, Ethereum, XRP, Augur, Ethereum Classic, Monero as well as Tether.
Tezos is the best performing currency of the year 2020 so far and is in a safe zone. This followed after the downturn of the wider market during the day’s late hours. On Wednesday during these hours, billions went down as top coins plunged, but Tezos was amongst the top performers, with momentum following its inclusion of options for margin trading under Kraken exchange.
After the launch, the clients can pursue profits on the basis of suitable risk appetite with spot trading, staking their XTZ or margin trading. It is the first time an asset has been available for staking and margin trading on Kraken and Kraken Pro.
XTZ is available for trading in EUR, USD, XTZ, XBT, and ETH. The XTZ margin trading will be available for Kraken and Kraken Pro. The Margin open fee will be 0.02%, with the rollover fee of 0.02% / 4 hrs.
Tezos comes under collateral currencies, though the only difference is that just half of the user balance of Tezos will come under collateral. For instance, if you hold a 100 XTZ balance, you can just open margin positions for the 50XTZ value. In case you hold some more collateral currencies as balances in your account, this balance value can be employed to unlock new positions. Note that any of the Tezos that are staked won’t be counted as collateral.