Today Kraken is launching support for trading Monero (XMR). Monero is one of the leading cryptocurrencies that has seen huge 40x market cap growth in 2016 and trades with high volume and liquidity. Monero is built on the core principles of privacy, decentralization, open development, scaleability, and fungibility.
You can learn more on the official Monero site and check out the introductory video below.
Which XMR trading pairs are available at launch?
- XMR/XBT, XMR/EUR, XMR/USD
- Margin: Coming soon – stay tuned for details!
How do I fund my account with XMR?
To deposit your XMR go to Funding > Deposit > XMR and generate a deposit address. Then send your XMR deposit to this deposit address. 15 confirmations are required before the funds are available in your account balance for trading. Kraken utilizes integrated addresses which have the payment ID embedded in the address, so you don’t need to specify a separate payment ID for your deposit.
What about the hard fork at block 1220516?
There is a hard fork planned for block 1220516, estimated for January 9th or 10th (an upgrade to enable RingCT transactions). Note that you should upgrade to Monero v0.10.1 before the hard fork. The hard fork is expected to go smoothly, but there may be significant price volatility around the event presenting opportunity for traders. Kraken XMR deposits will go offline shortly before the fork and remain offline for several hours after the fork.