Decentralized content sharing and infrastructure platform Tron (TRX) will be added to the popular U.S. cryptocurrency exchange Kraken on March 5, 2020.
According to the recent announcement, Tron will be listed with a total of four trading pairs, including two fiat pairs (TRX/USD and TRX/EUR) as well as two cryptocurrency pairs (TRX/XBT and TRX/ETH).
Trading to go Live Shortly
As per the official announcement, deposits and withdrawals are scheduled to open around 14:30 UTC today. However, customers will not be able to begin trading TRX until shortly after funding is enabled, as deposits need to clear before sell orders can be opened.
Tron will initially be made available to trade on Kraken, Kraken Pro, and the Kraken OTC platform, whereas TRX margin trading is coming soon. However, Kraken’s futures exchange customers might be disappointed, since Kraken has not yet announced plans to list Tron futures contracts.
Elaborating on the project, Kraken describes Tron as a “platform designed to fuel new and experimental blockchain-based applications,” noting that the platform is powered by a decentralized voting system that rewards Tron holders that temporarily freeze their TRX. As it stands, TRX deposited to Kraken cannot be used for voting.
Based on the fine print, Kraken will set the minimum deposit and withdrawal amount to 2 TRX, whereas both deposits and withdrawals will be subject to a 0.01 TRX fee. Moreover, the current minimum trade size is set to 500 TRX. At a current price of $0.0182/TRX, these seem more than reasonable.
Kraken is an Old Giant
Currently the fourth-largest cryptocurrency exchange by trading volume, Kraken is a popular exchange among U.S. and European traders thanks to its wide range of USD and EUR trading pairs. The exchange is also one of the oldest cryptocurrency exchanges still in operation, after launching almost a decade ago.
As with all its listings, Kraken did not provide any specifics on why Tron was chosen as a suitable candidate for listing. However, the exchange is known to list only popular, well-established cryptocurrencies with a strong development history. As such, it is clear that Kraken believes that Tron meets its stringent requirements.