Decentralized content sharing and infrastructure platform Tron (TRX) will be added to the popular U.S. cryptocurrency exchange Kraken on March 5, 2020.
According to the recent announcement, Tron willbe listed with a total of four trading pairs, including two fiat pairs (TRX/USDand TRX/EUR) as well as two cryptocurrency pairs (TRX/XBT and TRX/ETH).
Trading to go Live Shortly
As per the official announcement, deposits and withdrawals are scheduled to open around 14:30 UTC today. However, customers will not be able to begin trading TRX until shortly after funding is enabled, as deposits need to clear before sell orders can be opened.
Tron will initially be made available to trade onKraken, Kraken Pro, and the Kraken OTC platform, whereas TRX margin trading iscoming soon. However, Kraken’s futures exchange customers might bedisappointed, since Kraken has not yet announced plans to list Tron futurescontracts.
Elaborating on the project, Kraken describes Tronas a “platform designed to fuel new and experimental blockchain-basedapplications,” noting that the platform is powered by a decentralizedvoting system that rewards Tron holders that temporarily freeze their TRX. Asit stands, TRX deposited to Kraken cannot be used for voting.
Based on the fine print, Kraken will set theminimum deposit and withdrawal amount to 2 TRX, whereas both deposits andwithdrawals will be subject to a 0.01 TRX fee. Moreover, the current minimumtrade size is set to 500 TRX. At a current price of $0.0182/TRX, these seemmore than reasonable.
Kraken is an Old Giant
Currently the fourth-largest cryptocurrencyexchange by trading volume, Kraken is a popular exchange among U.S. andEuropean traders thanks to its wide range of USD and EUR trading pairs. Theexchange is also one of the oldest cryptocurrency exchanges still in operation,after launching almost a decade ago.
As with all its listings, Kraken did not provideany specifics on why Tron was chosen as a suitable candidate for listing.However, the exchange is known to list only popular, well-establishedcryptocurrencies with a strong development history. As such, it is clear thatKraken believes that Tron meets its stringent requirements.
