Kraken Adds Margin Trading for Bitcoin Cash (BCH) and “Ripple” (XRP)
Kraken, a San Francisco-based exchange with more than 60 trading pairs for 20 different cryptocurrencies, announced Friday that it has added margin trading for Bitcoin Cash (BCH) and XRP (XRP).
We have enabled margin trading for Bitcoin Cash (BCH) and Ripple (XRP)! The addition expands our margin offering to 8 assets. Read more on our blog: https://t.co/DSBaMBdOR7
— Kraken Exchange (@krakenfx) December 29, 2018
According to the announcement, XRP and BCH will join the 6 other assets that are currently available for margin trading on Kraken, including Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Augur (REP), Monero (XMR), and Tether (USDT).
Investors can now trade BCH with up to 3x leverage and XRP with up to 5x leverage, depending on the trading pair.
Despite the seemingly positive news for the XRP community, the reception was less than positive as Kraken continues to use the ‘Ripple (XRP)’ nomenclature. Responding to the criticism, the exchange released an additional tweet clarifying its position.
Dear XRP Army, Ripple is (and was first) a payment protocol whose native currency is XRP. You could suggest the eponymous company change its name (again) to avoid ambiguity. The convention is <protocol> <asset>, like: Ripple XRP, Ethereum ether, Bitcoin bitcoin, etc. 💙
— Kraken Exchange (@krakenfx) December 29, 2018
As expected, Kraken’s explanation was not well-received by members of the XRP Army, but the exchange seems unlikely to change its naming conventions on XRP’s behalf.
More: Kraken launches Bitcoin Cash (BCH) and Ripple (XRP) margin trading
Interesting: Binance Adds XRP Base Pairs for TRON and ZCoin
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
