Kraken has announced that its crypto trading platform will be inaugurating Shiba Inu coin trading as well on 3rd November 2021. Already the firm has started to accept deposits against SHIB coin trading while the trading will only commence on the 30th of November (Tuesday). Kraken’s adoption of the SHIB coin instantly gave rise to the cryptocurrency’s value.
It is no less than good news that Kraken, the world’s renowned digital currency platform, will support Shiba Inu coin i.e. SHIB. On Monday, the 29th November 2021, Kraken has made an official announcement informing that it has decided to launch SHIB trading. The trading of SHIB coin will become effective at Kraken’s trading platform on 30th November 2021. However, the interested persons who want to trade SHIB coin trading can deposit their funds into their accounts with Kraken. The crypto firm is duly accepting the deposits but the funds can only be utilized on the 30th November 2021.
Kraken’s announcement suggested that the firm is delighted to let the people know that SHIB is now available for trading at Kraken. The firm also said that the deposit feature has been made effective and orders will be entertained soon for execution. It was however clarified by Kraken that the options of margin and futures trading will not be available for SHIB coin. But the firm is committed to introducing the feature with the passage of time.
It is confirmed that SHIB can be traded by a trader against fiat currencies such as Euro and USD. There will be a trading limit on SHIB coin trading which will be not less than 50,000 SHIB.
The firm also revealed that Kraken’s users will have to undergo 20 confirmation processes if they opt for SHIB deposits. This 20 confirmations process will take at least 5 minutes to complete, informed Kraken. A user can fund his or her account with a minimum of 373,000 SHIB coins. Any amount of SHIB coins less than 373,000 will not be accepted as a deposit, clarified Kraken.
Kraken’s inauguration of SHIB trading was also fortunate for the SHIB coin as well. Before Kraken’s announcement, the SHIB coin was trading hands at a price of US$ 0.00003899. After the announcement, there was a slight surge in SHIB’s value which went as high as US$ 0.00004422.