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Ripple, also known as XRP when referring to the cryptocurrency token, is a crypto-asset intended to be used as a real-time cross border remittance alternative to SWIFT and other money transfers. It is created and run by Ripple Labs, a US-based technology company.
Ripple is usually found in the top three crypto-assets by market cap and is an appealing investment for traders because of its aim of disrupting cross border payments. Traders on Mine Steady Trading can take advantage of advanced trading tools and strategies for XRP.
Mine Steady Trading is a cutting-edge online trading platform offering traders all the tools necessary to buy, sell and trade Ripple in the cryptocurrency market. Mine Steady Trading features a third-party service called CEX.io that allows the exchange of other crypto-assets, fiat currencies, and more for Bitcoin.
In addition, users can purchase Bitcoin with a credit or debit card to fund their trading accounts and get started trading Ripple immediately. Alternatively, users may deposit their own Bitcoin to the Mine Steady Trading wallet BTC address.
Why trade Ripple with Mine Steady Trading
- Easy to startStart trading in minutes with quick and easy registration procedure, and low minimum deposit
- Low trading feesSave on fees! Benefit from Mine Steady Trading’s low commission rates and tight spreads while trading all available assets
- Secure tradingEnjoy Mine Steady Trading’s security features that will ensure your personal data and funds are always safe.
- Best-in-class trading platformMine Steady Trading’s award-winning software offers traders a variety of professional trading tools. Access cryptocurrencies, stock indices, commodities, and forex from a single account!
Start trading in minutes!
How does Ripple margin trading work?
Margin trading is the process where a trader buys more Ripple than they have capital on their account. It means that the trader is borrowing money from Mine Steady Trading in order to purchase more Ripple for their trade, in order to free up their own capital.
The margin trade is linked to leverage, where leverage is the opportunity provided by a platform to open a speculative position worth a much larger amount of money than you have at your disposal. This position leverage enables a chance for gains to be multiplied, but losses too.
The benefits of Ripple trading with leverage
- Magnified profitsMargin trading is known for its ability to make larger trades compared to deposited amounts. Margin trading is one of the most effective ways to increase potential returns
- DiversificationMargin trading means there is more available traders' capital left on the account which can be used to open new positions. Diversification allows to reduce market risk.
- Gaining from the market fall.Margin trading also allows traders to open long and short positions in order to profit from both growing and falling market.
Ripple leverage trading example
For example, If a trader takes a short position of 1,000 XRP on 10x leverage, and the price of Ripple falls 3% the trader will earn a profit of 300 XRP. A similar spot trade without leverage would result in only 30 XRP earned.
Disclaimer: Margin trading also comes with inherent risks if the position moves against the trade. You should never utilize 100% leverage and never invest more than you can afford to lose.
Normal trade
Leveraged trade with Mine Steady Trading
How to start trading Ripple
- 1Create Your accountCreate a new account on Mine Steady Trading in less than a minute. Only a registered E-mail is needed to begin.
- 2Fund Your accountEasily deposit funds to your personal trading account. We don’t charge any fees on deposits.
- 3Begin tradingAfter you have made your first deposit to the trading platform, and funded your trading account, you may start trading indices immediately.
Questions about Ripple Trading
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It’s free to open an account, and there is no obligation to fund or trade.
