The team at digital asset firm Kraken is pleased to announce that their crypto trading platform now supports new margin pairs “for Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Polygon (MATIC), Chainlink (LINK), Dogecoin (DOGE), Solana (SOL) and Decentraland (MANA)!”
Margin trading is now available for a wide range of pairs (check here).
According to Kraken, here’s what you need to know about these digital assets:
Bitcoin (BTC) – Bitcoin is “an invention that, for the first time in history, enabled a group of software users to create and manage a digital money supply outside the control of any government or bank.”
A “revolutionary” idea when introduced in 2009, Bitcoin “continues to have implications that are just beginning to be understood and explored by technologists and economists today.”
XRP – Launched in 2013, XRP aims “to complement traditional payments, migrating transactions that occur today between databases controlled by financial institutions to a more open infrastructure.”
One of the “more ambitious” cryptocurrencies to go live in the wake of Bitcoin, XRP is notable “for a design that sparked continuing discussion about how blockchains can be architected and the use cases they should attempt to address.”
Ethereum (ETH) – One of the most “ambitious” blockchain projects, Ethereum (ETH) seeks to “use cryptocurrency to decentralize products and services in a wide range of use cases beyond money.”
If Bitcoin seeks to serve as a digital gold, Ethereum has “taken a different approach, generalizing so its users can create any number of custom assets and programs governing their operation.”
Polygon (MATIC) – Polygon, formerly known as the Matic Network, is “a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks.”
At the center of Polygon’s vision is Ethereum, “a platform that is home to a range of decentralized applications, ones where you can join virtual worlds, play games, buy art, and participate in a range of financial services.”
However, this much activity on its blockchain has “rendered Ethereum almost unusable, as the cost of transmission is rising and traffic is becoming clogged.”
Chainlink (LINK) – Chainlink is “a cryptocurrency aiming to incentivize a global network of computers to provide reliable, real-world data to smart contracts running on top of blockchains.”
If you’re unfamiliar, smart contracts “are agreements programmed to execute if and when certain conditions are met.” To date, smart contracts have been “used for everything from creating novel crypto-financial products to developing new crypto assets.”
Dogecoin (DOGE) – Dogecoin is ‘a cryptocurrency inspired by a popular meme known as Doge, a picture of a Shiba Inu dog accompanied by colorful Comic Sans phrases meant to convey its inner monologue.”
Launched at the end of 2013, Dogecoin “rose to popularity at a time when developers were just beginning to explore the possibilities afforded by Bitcoin’s (BTC) invention.”
Solana (SOL) – Solana is “a platform that seeks to provide a foundation for decentralized applications (dApps) in a way that prioritizes scalability.”
With this aim, Solana is “one of several competing blockchain projects such as Ethereum, Zilliqa or Cardano that hopes to grow an ecosystem of cryptocurrency-powered products and services.”
Decentraland (MANA) – Decentraland is “a software running on Ethereum that seeks to incentivize a global network of users to operate a shared virtual world.”
Decentraland users “can buy and sell digital real estate, while exploring, interacting and playing games within this virtual world.” Over time, the platform “has evolved to implement interactive apps, in-world payments and peer-to-peer communication for users.”
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