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 PrimeXBT can take advantage of advanced trading tools and strategies for XRP.
PrimeXBT is a cutting-edge online trading platform offering traders all the tools necessary to buy, sell and trade Ripple in the cryptocurrency market. PrimeXBT 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 PrimeXBT wallet BTC address.
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 PrimeXBT 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.
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.
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