How to Trade Ripple (XRP) Futures on BTCC

04/13/2022By: C, Fiona

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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.

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.

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