The cryptocurrency exchange Kraken has added Bitcoin Cash (BCH) and Ripple (XRP) to its margin trading offering. Now, it allows margin trading of a total of eight cryptocurrencies — also Bitcoin, Ethereum, Ethereum Classic, Augur, Monero and Tether.
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
In its news release Kraken shared the advantages of margin trading — however, the platform also stressed a word of caution:
“Margin trading allows you to leverage your account for greater profits, while also assuming greater risk. [...] While margin trading can lead to greater profits, it can also lead to greater losses.”
In addition, the exchange noted that margin positions can be forcibly closed to protect the borrowed funds, which means that a trader “may be forced to take a large loss on a trade rather than having the option to try and wait for a more favorable price.”
At press time Kraken is the 31st cryptocurrency exchange by adjusted trading volume, according to CoinMarketCap.
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