Algorand’s users can now trade the Proof-of-Stake blockchain native token ALGO on popular cryptocurrency exchange Kraken.
This is according to a blog post by Algorand.
According to reports, ALGO deposits and withdrawals on Kraken are now available. That said, ALGO trading pairs on Kraken include ALGO/USD, ALGO/EUR, ALGO/XBT and ALGO/ETH. Initial trading will be at a minimum of 50 ALGO. Every deposit and withdrawal made on the platform will attract a service fee of 0.01 ALGO.
ALGO will also be available for trading on Kraken, Kraken Pro, OTC. But not for Kraken Futures and Margin Trading.
The exchange has also disclosed plans to list more assets in the near future.
Alongside its listing on Kraken, ALGO is also available on several U.S based crypto exchanges. Like Binance.US and Coinbase. IBMR and Algorand also recently pulled together their resources to launch a microfinance platform on Algorand 2.0.
A promising platform
Silvio Micali, MIT professor and Turing Award Winner, created Algorand. It enables user entry and participation on the POS network. That said, users can help participate in keeping Algorand safe by holding 1 ALGO. With this, they will be able to validate transactions and add new blocks to the POS blockchain. Every time a block is added to the blockchain, Algorand provides its users with a minimum of 1 ALGO.
Its design is all about minimizing the risk of forking. Thus, the blockchain platform randomly assigns block producers in comparison to users competing to post transactions.
Founded in June 2019, Algorand already has outstanding investors like Union Square Ventures.
Recently, Altcoin Buzz reported the acquisition of BitTrade and Circle’s OTC desk by Kraken exchange.