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<a href="https://bitcoinworld.co.in/shiba-inu-shib-collateral-on-kraken-exchange/" title="Shiba Inu (SHIB) Can Now Be Used as Collateral on Kraken Exchange" rel="noopener noreferrer nofollow"></a>
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 <li style="font-weight: 400">Futures traders on Kraken exchange can now use Shiba Inu (SHIB) and other meme coins as collateral</li>
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Kraken, a major US-based cryptocurrency exchange, has <a href="https://x.com/krakenpro/status/1829240130499911760" target="_blank" rel="noopener noreferrer nofollow">added</a> to Shiba Inu (SHIB) as new collateral for futures contracts.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 New collateral added for futures: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SHIB</a> <a href="https://twitter.com/Shibtoken?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Shibtoken</a>
 You can now use SHIB to get exposure to over 200 perpetual futures.
 Simply transfer SHIB from your Kraken spot wallet to your Futures wallet to get started. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2b07.png" alt="⬇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/CNg2RZ1YqF" target="_blank" rel="noopener noreferrer nofollow">https://t.co/CNg2RZ1YqF</a>
 *Geo restrictions apply <a href="https://t.co/LJKj9O1AIZ" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/LJKj9O1AIZ</a>
 — Kraken Pro (@krakenpro) <a href="https://twitter.com/krakenpro/status/1829240130499911760?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 29, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The second-largest meme cryptocurrency can now be used in order to gain exposure to more than 200 perpetual futures.&nbsp;
Apart from SHIB, dogwifhat (WIF) and Bonk (BONK) can now also be used as collateral.&nbsp;
In order to use any of these three tokens as collateral, traders have to transfer them from their spot wallet to their futures wallet.
<a href="https://bitcoinworld.co.in/australian-federal-court-rules-against-krakens-bittrade-over-noncompliance/" rel="noopener noreferrer nofollow">Kraken</a> makes it possible for traders to deposit several collateral currencies into a single wallet. The list of collateral currencies includes fiat currencies like the US dollar and the euro, various stablecoins as well as Bitcoin and a slew of altcoins.&nbsp;
As earlier reported, ADA was added as collateral by Kraken back in August 2022.&nbsp;
Still, there are a lot of tokens that are not accepted as collateral for now. These tokens have to be converted to a collateral currency.&nbsp;
The exchange allows trading both single-collateral and multi-collateral futures contracts.&nbsp;
Before starting trading futures on Kraken, one should make sure to deposit a collateral currency to their futures wallet. After that, one can select a certain futures contract and submit an order.&nbsp;
Kraken listed the Shiba Inu (SHIB) token in late 2021 following a successful campaign by the community behind the popular meme coin to secure another major exchange listing.&nbsp;
As reported, perpetual SHIB futures also appeared on Kraken in May 2023.

Shiba Inu (SHIB) Can Now Be Used as Collateral on Kraken Exchange

ItsBitcoinWorld

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