If you are familiar with cryptocurrency you must have heard about Ripple currency. Cryptocurrencies are virtual money which is built on blockchain platforms. It provides global financial settlement solution to enable the world to exchange value. However, ripples are different from bitcoins which is a more common in the cryptocurrency world.
To reach network process it uses an interactive sensors processor that contains the currency ripple which is dominated by the currency code XRP. This means that Ripple can finalize transactions faster than bitcoin. The Ripple network can also track information of any kind. The Futures Contract on Bitmex XRP derivatives in the form of. With this the traders can speculate the future value of ripple or bitcoin’s exchange rate. To trade the future contract the traders does not need to have ripple. It only requires bitcoin as margin.
So why should you trade XRP futures. As for buying and selling you can directly buy or sell XRP. This is known as spot trading off XRP. You can make good profit if you buy low and sell at the higher rate. However you need to keep in mind that this works only if the XRP prices go up. As for leverage trading it is not possible in spot trading. You can benefit from both ups and downs moves in ripples. This is done with the XRP futures and perpetual contracts. It can also enable you to trade big with small capitals to the derivative contracts as they have built in leverage.
Coming to Delta exchange it is pretty easy to start trading. You have to remember that only bitcoins are accepted in Delta exchange wallet. When you register a unique BTC deposit address will be generated. What you have to do is simply register and convert BTC to USDC and then you can make your first trade. As for trading Delta exchange offers trading crypto currency futures.
If you do not wish to put your BTC at risk by trading but at the same time you are interested in checking out bitmax you can try out bitmex testnet and see how the platform functions. All deposits and withdrawal with bitmex are done through bitcoins even though bitmex allows traders to speculate on the price movement for a variety of cryptocurrencies. Create an account with a simple process and confirm it with your email and your account will be activated. You will need to deposit some bitcoins first in order to trade on bitmex. In case of bitmax BTC is the only cryptocurrency you can deposit. On certain products bitmex allows margin trading with up to 100X leverage. However if the market moves against the trader losses are amplified. There are two types of margins offered by Bitmax: isolated margin and gross margin. You need to make sure that you read up the specific of how bitmax deals with margin before making any trading decisions. When you are comfortable with the platforms features and products only then you can start trading on bitmax. Till then use small amounts. In case you end up on the wrong side of the trade stop market order can be used to limit the maximum loss that you are willing to take. You can use bitmex to trade bitcoin, Ethereum, Litecoin and bitcoin cash other than people with leverage.
It is always better to do your own research and studies before you start trading in any cryptocurrency. Remember crypto market is very volatile and you should be well aware of what is out there for you before you make any decision.