Digital Asset Firm Kraken Announces Support for Avalanche (AVAX) Trading

Digital assets firm Kraken notes that they’re pleased to confirm that their cryptocurrency trading platform now supports the Avalanche (AVAX) C-Chain.

Funding and Trading

Funding is currently live, and trading is scheduled to start on Tuesday, December 21, 2021 — at which point Kraken will “enable order entry and execution” so “keep an eye on the status page for updates,” the company noted.

The team at the crypto exchange also mentioned that you may now add AVAX to your Kraken account by “navigating to Funding, selecting the asset, and hitting Deposit.” As noted by Kraken, deposits “require 20 confirmations (typically one minute).”

AVAX will be “tradable against USD and EUR, with a price precision of 2 decimal places,” the company added.

What is Avalanche?

As explained by Kraken, Avalanche is “a distributed system that achieves scalability through the use of three interoperable blockchains and a Proof-of-Stake consensus mechanism.” It aims to “serve as the foundation for an expansive ecosystem of decentralized applications (dApps).”

Which services will be available for AVAX?

Kraken and Kraken Terminal  will be “available for AVAX” and Kraken Futures and Margin Trading “won’t be available at launch,” the announcement clarified.

Will Kraken list more assets?

Yes, however, their policy is to “never reveal any details until shortly before launch – not even which assets we are considering.”

All of Kraken’s listed tokens are available via their official website, the company explained while noting that “all future tokens will be announced on Kraken’s blog and social media profiles.”

As always, Kraken’s management pointed out that their client engagement specialists “cannot answer any questions about which assets we may be listing in the future.”

As mentioned in the update, the company recommends trading and investing “with caution.” You should look into limit orders, as they are “recommended when trading starts since the markets may be illiquid initially.”

Kraken also advised that you should be “extremely careful with market orders and orders that trigger market orders (e.g. stop loss).” The company also clarified that “listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network.”

As always, do your own research and invest at your own risk (and only what you can afford to lose).

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