Kraken, the US-based crypto exchange back in January added support for trading Monero (XMR) and today we learned that margin trading has now been introduced.
Since listing XMR, trade volumes have been steadily increasing where Kraken was comfortable to permit margin for Monero pairs.
XMR will not be a collateral currency. This means users cannot open margin positions against the value of their XMR balances. For this reason, users should always maintain adequate balances of other collateral currencies to maintain margin positions.
More details on the trading update are below.
Which currency pairs and leverage are available?
- XMR/XBT: 2x,3x
- XMR/USD: 2x
- XMR/EUR: 2x
What are Monero’s borrow limits?
XMR borrow limits depend on the verification level of the account as follows:
- Tier 1: 100 XMR
- Tier 2: 1000 XMR
- Tier 3: 1500 XMR
- Tier 4: 3000 XMR
What are the margin fees?
- Margin open fee = 0.02%
- Rollover fee = 0.02% / 4 hrs