Home CryptoCurrency News Kraken Starts Supporting UNI and YFI

Kraken Starts Supporting UNI and YFI

Kraken added two new tokens to its trading platform. UNI and YFI are added next to FIL – that was announced some days ago – and trading pairs are available for users.

Kraken again focused on the details of FIL listing in the new announcement:

“Note that FIL is a bit different from the other two because it is a “mainnet listing,” meaning that trading will begin as soon as possible after the Filecoin mainnet goes live and transfers are enabled on the network. This, along with the larger number of confirmations required for FIL deposits to credit, means that FIL trading will begin approximately 4 hours later than UNI and YFI.”

The new listing in Kraken exchange helps them attract more users and offer more versatile trading options. FIL, UNI, and YFI are all tokens with a lot of optimism on them among traders. Kraken supports them with famous crypto and fiat currencies: USD, EUR, BTC, and ETH.

Traders can deposit the new tokens starting from today. The deposition process is like other assets and can be done via the Funding menu in the Kraken platform. The number of confirmations needed before deposits credit for each token is different. According to Kraken: Filecoin (FIL) needs 300 confirmation or about 2.5 hours, Uniswap (UNI) needs 30 confirmation or about 6 minutes, yearn.finance (YFI) needs 30 confirmations or about 6 minutes.

Trading minimums for each token are:

• Filecoin (FIL): 0.125 FIL
• Uniswap (UNI): 0.25 UNI
• yearn.finance (YFI): 0.0001

Kraken will support FIL, UNI, and YFI in Kraken exchange, Kraken Pro, and OTC. The Futures and Margin Trading platforms currently don’t support these tokens. But perhaps the exchange seriously looks forward to supporting them.

YFI, FIL, and UNI token holders can benefit from the great opportunity of the new listing on Kraken. New listings are often followed by high buy requests and can result in considerable income for traders. But Kraken, like every other crypto exchange, warns users about trading risks:

“Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).”

If you found this article interesting, here you can find more Blockchain and cryptocurrency news

Mehdi Zare
Mehdi Zare
I am a young father who always loves to learn. Security and privacy topics are my main interests, and so, blockchain as one of the most strong security and privacy solutions of the modern industry excites me too.
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