How to Trade Ripple (XRP) Futures on BTCC
XRP is a cryptocurrency issued by OpenCoin, called Ripple Credits. Ripple is the world’s first open payment network, from which any currency can be transferred, which is easy and fast. The transaction confirmation is completed within a few seconds, and the transaction fee is almost zero, there is no so-called cross-bank and cross-border payment fees. The total number of XPR is 100 billion, the circulating market value is 26.456 billion, and the current price of XRP is 0.60 US dollars. In 2020, XPR will increase by 170.85%.
If you want to invest in XRP, in addition to spot trading, you can also buy and sell XRP margin trading to earn. Compared with spot trading, the advantage of margin trading is that it allows you to earn, it doesn’t matter whether the price of XRP rises or falls. Besides, margin trading allows you to add leverage and trade with little amount of asset.
What are Ripple Futures Contract?
A Ripple futures contract is an agreement to purchase or sell a fixed number of Ripple (XRP) at a predetermined price at a future date.
Ripple futures markets provide cryptocurrency traders with two crucial features:
- Purchasing XRP futures permits traders to control additional Ripple tokens via leverage (10x to 50x not uncommon)
- The sale of XRP futures permits traders to profit from a decline in the XRP price.
Due to the fact that Ripple futures contracts traded on the majority of cryptocurrency exchanges today have no expiration dates, they are also known as Ripple perpetual futures.
Why Trade Ripple Futures Contract?
- Ripple futures are an agreement between two counterparties to buy and sell a predetermined quantity of XRP at a predetermined price at a predetermined date and time.
- They permit you to obtain exposure to Ripple without ever having to hold the cryptocurrency.
- Those that hold Ripple can use futures contracts to hedge their exposure to price fluctuations.
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How to Trade XRP Perpetual Contract?
STEP 1: Register a free trading account and log in
STEP 2: Choose the type of XRP margin trading
STEP 3: Select the BTCC margin trading order type
BTCC margin trading orders are divided into market orders, limit orders and stop loss orders.
- Market orders: Users place orders at the best price in the current market to achieve fast trading.
- Limit order: A limit order is used to copy the top/bottom, and refers to a buy/sell price set by the user. After the market reaches the limit price, the margin trading can be executed.
- Stop Order: A stop order is an advanced limit order, and users can customize a buy/sell price. After the market reaches the limit price, the margin trading can be executed.
STEP 4: Choose the 20x XRP perpetual contract
STEP 5: Choose the lot size
The XRP trading unit at BTCC allow user to choose the number of lots based on their investment situation, and the range can be selected from 100 to 50000 lots. There are real-time contract values and reference margins below.
STEP 6. Set the take profit and stop loss price
Market orders, limit orders and stop orders all need to set a take-profit and stop-loss price. The difference is that market orders can be executed immediately at the best price, while limit orders and stop orders need to be set for the same day or a week.
STEP 7. Choose price direction:Buy when bullish, Sell when bearish
After setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Note that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform. Click the buy or sell button, and the XRP order is completed.
Finally, after the margin trading is completed, it will be displayed at the bottom of the position page; if there is no trading to be executed, it will be displayed at the bottom of the pending order page.
For more orders information, you can click on the margin trading report at the top right of the page to view. At this point, you have completed the XRP margin trading. If you have further inquiries, please contact the online customer service.
Trade Ripple (XRP) Futures on BTCC Now: https://www.btcc.com/en-US/trade/perpetual/XRPUSDT
1.Is BTCC safe?
Since its inception in 2011, BTCC has made it a priority to create a secure space for all of its visitors. Measures consist of things like a robust verification process, two-factor authentication, etc. It is considered one of the most secure markets to buy and sell cryptocurrencies and other digital assets.
2.Is it possible for me to invest in BTCC?
Users are encouraged to check if the exchange delivers to their area. Investors in BTCC must be able to deal in US dollars.
3.Can I Trade BTCC in the U.S?
Yes, US-based investors can begin trading on BTCC and access the thriving crypto asset secondary market to buy, sell, and trade cryptocurrencies.