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.

How to Trade Ripple Futures on BTCC?

Now you can trade XRP on  BTCC. BTCC supports a diverse selection of cryptocurrencies for trading. This includes popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and others. BTCC also offers products such as crypto, gold, and tokenized stocks to help investors rationally allocate their assets.

STEP 1: Register an Account

Visit the BTCC website and create an account. Provide the requested information, complete the verification procedure, and implement any necessary security measures, such as two-factor authentication (2FA).

1. 1 Open an Account

This will redirect you to the registration page, where you will be required to submit some basic information, including your email address or phone number and a password. Enter the Referral code below to receive rewards if you have been referred by another BTCC user.

Next, you will receive a confirmation email to validate your identity. Execute the procedure by adhering to the instructions provided in the email. This procedure guarantees that your new BTCC account is exclusively accessible to you.

In order to comply with KYC/AML regulations, licensed crypto exchanges such as BTCC are required to identify all registered users. To accomplish this, you will require a government-issued identification document, such as a national ID, passport, or driving license.

Not only will your account be verified, but your daily transaction limit will be increased, and you will be eligible for a variety of special offers (coupons/rebates) by uploading a photo of your document(s).

STEP 2: Deposit Funds

After you’ve created your account, you’ll need to finance it. BTCC may accept numerous deposit methods, including bank transfers, cryptocurrency deposits, and other payment choices. Select the way that works best for you and follow the instructions to deposit funds into your account.

2.1 Choose Fiat Currency to Deposit

Click to operate :https://www.btcc.com/en-US/user-center/assets/deposit/usdt

Deposit in fiat currency is to use credit card or other fiat currency channel to buy and deposit money. As the global fiat currency channel varies, the actual situation needs to be based on the current fiat currency channel used by BTCC to carry out relevant operations.

Select the purchase quantity and payment currency, then click Pay Now on the corresponding payment method to proceed to payment.

After successful purchase, the payment will be credited to your BTCC account within 2~30 minutes. Blockchain network conditions or service provider status may affect the crediting time.

If you encounter any problems when making a deposit, please contact our customer service via the bottom right corner of this page.

STEP 3: Start Trading

3.1 Choose the type of crypto futures

BTCC supports a range of cryptocurrency trading pairs. Select the trading pair you want to trade. For example, if you want to trade Bitcoin for Ethereum, you would choose the BTC/ETH trading pair.

3.2 Choose the order types of XRP

Select the order types for BTC at the top right of the page. The order types at BTCC included market orders, limit orders and stop loss orders.

• Market orders: Users place orders at the best current price to execute buy or sell order instantly.
• Limit order: A limit order is a type of order set by the trader to buy or sell at a specified price level or better. The buy order will be executed at the limit price or a lower one, while the sell limit order will be executed at the limit price or a higher one. The limit order can be seen by the market, which has given the opportunity for market participants to fill the buy or sell order.
• Stop order: A stop order, also known as the stop-loss order is a type of order set by the trader to buy or sell at a specified price level. The order will be executed automatically after a certain price level has been reached.

3.3  Choose the level of leverage 

You can adjust the level of leverage based on your need. For example, the leverage of ETH’s weekly contract included 10x, 20x, 50x, and up to 100x leverage.

3.4 Choose the quantity

Enter the quantity or choose the percentage under the quantity field.

3.5 Set take profit and stop loss targets

Market orders, limit orders and stop orders can used to set stop-profit and stop-loss price targets. The difference is that market orders can be executed immediately at the best current price, while limit orders and stop orders can only be executed at the price within a day or during the week.