San Francisco-based cryptocurrency exchange Kraken has announced the addition of new EUR margin pairs for several cryptocurrencies, including Shiba Inu (SHIB), Pepe (PEPE), Sei (SEI), and Near Protocol (NEAR). This move expands the exchange’s margin trading offerings, allowing users to trade these pairs with up to 3x leverage.
Expanded Margin Trading Options
Kraken’s introduction of EUR margin pairs for SHIB and PEPE marks a significant development for the meme cryptocurrency community. The exchange had listed SHIB in November 2021, following a community-driven campaign.
With the new margin pairs, traders can now access increased leverage for these cryptocurrencies, potentially amplifying their gains. However, margin trading carries inherent risks, and inexperienced traders should exercise caution to avoid potential losses.
Trading Limits and Leverage
The limits for long and short positions vary across the newly listed pairs. For SHIB/EUR, the limit is set at 2 billion tokens, while PEPE/EUR has a limit of 3.5 billion tokens. Traders can access up to 3x leverage for these pairs, allowing them to open positions that exceed their balance. For example, a 5% gain in the SHIB price would translate to a 15% gain in a 3x long position.
Kraken’s Margin Trading History
Kraken, one of the oldest cryptocurrency exchanges, introduced margin trading in 2015 with the Bitcoin/EUR pair. Since then, the exchange has expanded its margin trading offerings significantly. In June, Kraken introduced margin trading for eight stablecoin pairs, and earlier this year, the exchange added USD pairs for SHIB, PEPE, and other cryptocurrencies.
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Risks and Precautions
While margin trading offers potential benefits, it also carries significant risks. Traders should be aware of the potential for losses and take necessary precautions to manage their risk exposure. Inexperienced traders should avoid margin trading until they gain sufficient knowledge and experience.
Kraken’s introduction of new EUR margin pairs for SHIB, PEPE, and other cryptocurrencies marks a significant development for the exchange and the cryptocurrency community. With increased leverage and expanded trading options, traders can amplify their gains. However, it is essential to approach margin trading with caution and awareness of the associated risks.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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