The cryptocurrency trading platform Kraken adds support to Shiba Inu and has concluded an extensive listing process that began earlier in the month. In terms of deposits concerned the minimum deposit amount of SHIB is 3,73,000 for $16 (roughly 1200 rupees). 1,201) is in place and the exchange has opened for trading at the time of publication.
Kraken announced on 1 November if they received 2,000 likes on an Instagram post and it was going to provide support to Shiba Inu. The cryptocurrency exchange announced an extended wait of a month during the time that the tweet garnered more than 83,000 people who liked it.
— Kraken Exchange (@krakenfx) November 29, 2021
Kraken stated in the blog article that trading would start on November 30th, at which time it will allow the entry of orders and execution. The currency will be traded in exchange for both the US Dollar and the Euro and will have a minimum trading amount of 100,000 Shiba Inu worth Rs. 182.59. The blog clarifies that just Kraken exchange and Kraken Terminal are available on SHIB at this time. Kraken Futures and Margin Trading aren’t available when the service launches.
Kraken has joined the ranks of crypto exchanges taking advantage of the growing popularity of the meme coin from investors in the retail market and putting it on their list. A few early adopters include Crypto.com which listed the cryptocurrency in May, with eToro following the same pattern in July. The most popular crypto trading platform Coinbase has also has added SHIB in their collection of tokens that they support. Gemini, as well as Public, also included the Ethereum-based cryptocurrency earlier in the month. Binance and FTX both support SHIB.
Kraken has been reported to have six million customers, giving ShibArmy with a million members ample room for expansion. It joins Binance, Coinbase, Gemini as well as Indian Exchange CoinDCX in allowing SHIB Inu. After the success in listing it on Kraken, the ShibArmy could look to Robinhood however, which doesn’t yet endorse SHIB.
Gargi Sinha is working as Senior Journalist at Confea. She has completed her Masters in Journalism from Delhi University. She has interest in crypto and blockchain technology.