In a blog post, Kraken announced on Sept. 27 the listing of two new cryptocurrencies on its platform. Cardano (ADA) and Quantum (QTUM) become the latest digital assets to be added by the US-based crypto exchange, on top of the already existing 17 cryptocurrencies.
When Are ADA and QTUM Going to Launch?
The launch for both Cardano and Quantum was set for Sept. 28 at approximately 9:00 am EST. Kraken will offer both cryptocurrencies in USD, EUR, CAD, XBT, and ETH trading pairs. Clients will be able to buy ADA and QTUM on the traditional Kraken platform (https://www.kraken.com), as well as the new Kraken trading platform (https://trade.kraken.com), which offers improved UI, integrated charts and tools and is also available on mobile devices. While margin trading for Cardano and Quantum will not be available initially, Kraken has clarified that this option will remain open in the future.
Confirmations Required and Deposit Instructions
ADA will require 15 confirmations before crediting deposits, while QTUM will require 24 confirmations. Kraken has outlined specific instructions on how customers should place their deposits, as seen below:
- ADA: Navigate to Funding > Deposit > Cardano (ADA) then generate a deposit address and send ADA to this address (Note that ADA addresses are 104 characters long, so take extra care to ensure you have entered the entire address correctly).
- QTUM: Navigate to Funding > Deposit > Quantum (QTUM) then generate a deposit address and send QTUM to this address.
Trade Cardano and Quantum With Caution
While the company conducts proper due diligence prior to listing a new digital asset, the company clarifies that the addition of Cardano and Quantum does not constitute an endorsement by Kraken. Therefore, it urges its customers to do their own research and be cautious before placing their orders. Additionally, as newly listed cryptocurrencies lack adequate liquidity, customers should manage this risk accordingly and place order limits to avoid unexpected losses from price fluctuations.
Kraken was created in 2011 and is the world’s largest global Bitcoin exchange in euro volume and liquidity. Users can buy crypto in exchange for other digital assets or fiat currencies. It is constantly placed among the top five crypto exchanges and reached its record-high 24hr-trade volume on May 5, 2018, at $178,521,474. Kraken had been reportedly registering 50,000 new users per day during the crypto frenzy last December when Bitcoin’s price reached its $20,000 all-time high, a number that is expected to grow further with the listing of Cardano and Quantum.