Diferencias entre operar al contado con o sin el uso de margen

La disponibilidad de los servicios de trading con margen está sujeta a ciertas limitaciones y criterios de elegibilidad. (https://support.kraken.com/hc/articles/4402532394260)

Nota: Kraken también facilita el trading de futuros de criptomonedas (https://support.kraken.com/hc/articles/360022829971-What-are-Futures-and-why-should-I-trade-them-) para los clientes que cumplan con los requisitos de elegibilidad.

Kraken es un exchange de "spot market" en el que puede comprar y vender criptomonedas "al instante". Si es eligible (https://support.kraken.com/hc/articles/4402532394260), Kraken también puede extender margen (https://support.kraken.com/hc/articles/203053106-Explanation-of-leveraged-trading) para facilitarle la posibilidad de realizar compras y ventas spot de divisas en el exchange de nuestro spot market con el uso de “apalancamiento (https://support.kraken.com/hc/articles/203053116-Leverage).” Para diferenciar entre las divisas que recibe en transacciones spot sin margen y las divisas que recibe en transacciones spot con margen, usamos “balances” para las primeras, y “posiciones” para las últimas.

While using Kraken’s "spot markets" without the use of margin, you must have adequate balances in one currency to trade for another. For example, you must have a USD balance in order to trade USD for BTC on the BTC/USD order book.

After executing a non-margined spot trade between currencies, the corresponding balances are available to be traded again or withdrawn.

When using the Intermediate or Advanced order form, if you select "None" for leverage, then you are spot trading between currencies without the use of margin and must have adequate balances in the specific asset you desire to trade. For most non-margined spot orders, the Simple order form is sufficient.

For more information on non-margined spot market trading, see our introduction to trading on Kraken.

When using Kraken’s markets for spot transactions on margin, so long as you hold sufficient collateral currencies you may buy or sell cryptocurrency through any of the available margin pair order books, even if you do not hold a balance in the specific asset you desire to trade. This is possible because when trading using margin, Kraken extends to you on margin the necessary funds for the entire value of your trade.

By using an extension of margin from Kraken, you incur corresponding obligations and agree to comply with certain conditions until those obligations are satisfied. We refer to those circumstances where you have entered into a spot transaction on margin, but not yet satisfied these corresponding obligations, as an “open position.” Once a position is open, the amount of funds used as collateral are not available for trading or withdrawal until the position is settled or closed. As a result, when you enter into spot purchases or sales of cryptocurrency using margin on Kraken, the assets you receive from the market are reflected in your “Positions” tab, which is separate from your “Balances” tab. Although reflected in this separate, “Positions” tab, when you use margin on Kraken you are using an extension of margin to make an actual spot purchase or sale of cryptocurrency to a counterparty on the Kraken spot market. You own and control the assets you receive in these margined spot transactions and can withdraw them from your Kraken account at any time subject only to our Terms of Service.

Traders can enter “long” and “short” positions by using margin. Entering a long position means you are purchasing an asset you don’t have, in anticipation of the price increasing. You could do this without margin if you use the funds in your balance to purchase it directly. Entering a short position means you are selling an asset you don’t have, in anticipation of the price decreasing. This is only possible with margin, because you are using margin to sell the asset which you don’t already own.

When using the order forms, if you enable margin, you are requesting that Kraken provide you a margin extension for the spot purchase or sale of cryptocurrency as submitted through your order form.

Note: Some pairs are only available for non-margined spot transactions — you will not be able to select margin for trading on those order books.

For more information on margin trading, see: Leverage and margin.

For more information on whether you are eligible for margin trading, see: margin eligibility.

Non-margined spot transaction:

Exchanging 500 USD in your account balances for 500 USD worth of ETH on the ETH/USD order book.

Spot transaction on margin:

Posting 500 USD worth of ETH as collateral for a 1500 USD margin extension from Kraken to you, which you use to buy 1500 USD worth of BTC on the BTC/USD order book. This is made possible by enabling margin on the trading pair. Note how the trading pair does not have to match the collateral currency.

Cuando usa el spot exchange de Kraken para realizar operaciones spot con margen, mientras tenga suficientes divisas colaterales (https://support.kraken.com/hc/articles/204585998-Collateral-Currency) puede comprar o vender criptomonedas a través de cualquier libro de órdenes de pares de margen (https://support.kraken.com/hc/articles/227876608-Which-currency-pairs-can-I-trade-on-margin-) disponible, incluso si no cuenta con un balance en las divisas específicas que desea operar. Esto es posible ya que cuando opera con margen, Kraken le extiende al margen los fondos necesarios para el valor entero de su operación.

Al utilizar una extensión de margen de Kraken, incurre en las obligaciones correspondientes y acepta cumplir con ciertas condiciones hasta que estas se satisfagan. Nos referimos a aquellas circunstancias donde usted ha ingresado en una transacción spot con margen, pero no ha satisfecho todavía estas obligaciones correspondientes, como en una “posición abierta.” Una vez se abra una posición, la cantidad de fondos utilizados como colateral no está disponible para operar o retirar hasta que la posición se asiente o se cierre (https://support.kraken.com/hc/articles/360001385146-Margin-withholding-updates-September-2018-). Como resultado, cuando ingrese en compras o ventas spot de criptomonedas con margen en Kraken, las divisas que recibe del mercado se reflejan en su pestaña “posiciones”, la cual está separada de su pestaña “balances”.

Aunque se refleja en la pestaña separada “posiciones”, cuando usa margen en Kraken utiliza una extensión de margen para realizar una compra o venta spot real de criptomonedas a una contraparte en el spot market de Kraken. A usted le pertenecen y controla las divisas que recibe en estas transacciones spot con margen y puede retirarlas de su cuenta de Kraken en cualquier momento, sujeto solamente a nuestros Términos del Servicio (https://www.kraken.com/legal).

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