Kraken will be Listing Nano; Trading Begins from November 6

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Recently, Kraken announced the listing of NANO, a next-generation decentralized network and cryptocurrency, which will start from November 6, 2019. Nano provides an opportunity for its users to make instant payments without charging any fees.

Nano is based on a block-lattice data structure that carries information about every user account, its blockchain and processing power. The blockchain of the user account helps in tracking the complete details on all the transactions and balance history. Nano helps in confirming the transaction instantaneously and prevents delay.

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Initially, Nano was launched on October 4, 2015, with the name ‘Raiblocks,’ and in January 2018, it was rebranded. The cost of each transaction is $0.002, which is very less. Every transaction becomes visible in the entire network and also saves as a record in historical ledgers.

The company Kraken will start the Nano deposits and withdrawals from November 6 at 13.30 UTC. On the other hand, trading will also get a start after initializing the funding because it is essential to clear the deposits before placing the sell orders. The company will soon update all the details at the time of launch.

Nano deals with four trading pairs that are NANO/USD, NANO/ETH, NANO/EUR, and NANO/XBT. A user needs to wait approximately 5 minutes for depositing credit after confirmation of the send block.

There are a few steps to deposit the money.

  1. Firstly, a user needs to navigate to the funding.
  2. Click on the Show All Assets or need to search NANO. After that, click on Deposit, which is close to Nano (NANO).
  3. Create a deposit address and send NANO to that address.
  4. The money will get deposit on that address.

NANO will be available for a variety of services like Kraken, Kraken Pro, and OTC. On the other hand, NANO is unavailable for Kraken futures and Margin Trading. Kraken is cautious about sharing any details before the launch.

It is advised to limit the number of orders at the time of the beginning of the trade. The trading and investing in cryptocurrency needs to be done after in-depth research. Trading using a digital currency is not about buying, selling or participating in a network. The investment is made on the user’s risk.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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