Binary Ripple Options
You can trade online trading on the market value acquired by Ripple, one of the main cryptocurrencies currently in circulation: the tool at your disposal for such trades are Ripple binary options. These are not extremely complex concepts even though they initially require an effort to understand how they work: the logic is relatively simple, and involves an investment in the direction that the price of a certain asset or financial instrument, in this case Ripple, will buy on the market as a result of all the transactions. If the trader believes that, after a certain period of time, the price of Ripple is going to rise, and therefore expects it to appreciate, an upward trade will be made. If, at the end of this period, the price has actually increased, the trader will make a profit in proportion to the amount of capital invested in the transaction. Conversely, the trader can predict a loss in the value of Ripple, and then “bet” on its depreciation by opening a downward position: again, the gains will be determined on the basis of the amount invested in the trade: the trader will make a profit if at the end of the period set Ripple will have recorded a decrease in its price.
In both cases, a profit or loss for the trader will be determined by the performance of Ripple: you profit from the price changes in the cryptocurrency, in both directions they occur.
You will find on this page any useful information regarding the features of Ripple binary options trading, and we will use one of the most popular services in online trading for this brief IQ Option guide. It is an agile and comprehensive platform that allows you to make a wide range of trades with minimal effort: all it takes is an initial deposit of just one euro to start trading Ripple binary options. In addition, IQ Option also allows you to trade in demo mode, i.e. at no cost, to gain experience and practice of the mechanisms behind cryptocurrency trading.
How to Buy Binary Options on Ripple
There are a number of services dedicated to online trading on the web, and some of them offer the possibility of buying binary options on Ripple; once you have identified your preferred platform, you need to sign up for the service. Once you have submitted your details, you will have access credentials and once you have made a first deposit, everything is ready to start trading on Cryptocurrency.
These are, schematically, the steps required to make binary operations on Ripple:
- Choice of asset. The first step is to choose the financial instrument you want to trade: in our case, just choose Ripple from the list of available assets.
- With the next step you set the expiry time of the trade, which can range from a very short duration of action, equal to a few seconds, to intervals longer than several hours.
- Now you will have to specify the amount of our investment on Ripple, indicating the desired amount.
- High/low option. Binary options on Ripple, as well as any other cryptocurrency, can act in both directions: the user can decide whether to trade on a rise in value in the market, High option, or on a fall in price, Low option. In both cases the profits, or any losses, will be determined by the actual change that the reference value will undergo on the market in the time interval indicated in the duration.
Buying binary options on Ripple, as this scheme demonstrates, is an intuitive and easy to apply operation: the difficulty lies in understanding which direction Ripple’s price will take in the future, as it is also an extremely volatile asset with rapid fluctuations.
Buy Ripple Binary Options on IQ Option
At one time, the IQ Option platform was the exclusive reference environment for those who wanted to trade binary options online. Today, however, the platform has evolved and offers its users numerous other features and fields of action, expanding its reach to different fields of online trading.
So the user, regularly registered to the platform and after making a first deposit, will be able to use a particular class of new financial instruments, summarized under the name of Crypto Trading, to trade on Ripple with IQ Option: it will be possible for the user to open up or down positions on the real-time quote of the cryptocurrency on the market, and also apply to his investment functions that allow the automatic closing of the position in the case of predefined conditions at the time of opening.
All other types of binary options, applicable to other assets such as Forex, commodities, stock indices or equities to play on the stock exchange online, remain available to the investor at all times, but those that the platform offers with respect to cryptocurrency are true new generation tradable financial instruments and not binary options on Ripple.
Ripple On IQ Option, How It Works
The first action to perform to operate on Ripple with IQ Option is to choose this crypt from the list of tradable instruments available on the platform: simply open the Crypt section from the drop-down menu that opens by clicking the “+” symbol at the top of the screen. Scrolling through the list of cryptocurrency, choose the XRP value to select Ripple.
Once the asset has been selected, the main page for trading IQ Option will open: here is a detailed presentation of the situation of the chosen instrument, according to the updated market dynamics, and the possible functions for trading. A chart shows clearly and in real time the fluctuations of the cryptocurrency in the chosen time interval, while on the right side the trader will find the commands to actively trade the market with Ripple.
Among them, for example, there are the commands “Buy” and “Sell”, which activate the opening of up or down positions on the system; also on the right side the trader can adjust the characteristics of his investment by typing the desired amount or activating the automatic closing or pre-order options.
One of the possibilities offered by the platform is the automatic closing function of IQ Option: a useful and fully automatic tool to set a maximum level of tolerated losses or, on the contrary, the desired share of gains you want to obtain from your investment. When opening a position, whether it is up or down, the user can ask the system to close the investment if, due to market fluctuations, a predetermined profit share is reached. According to the same logic, even when absent from the computer or not having a connection, the trader will always be able to control the situation by setting a maximum loss percentage on the position, after which the platform automatically closes the investment. In the case of the image, IQ Option is asked to close the position when a 35% profit on the total is reached, or when a 95% loss is exceeded. These are, among other things, the default levels set by the platform when opening a position.
The pre-order window is accessible from the right side of the screen, as in the previous case, and allows the trader to determine a specific level of the Ripple quote beyond which a position will be opened. The order is refined only when this level is reached, and the pre-order, until this event, remains active until it becomes a real position.
Modification of the position and real-time information
At any time you can change some of the characteristics of a position after its opening. We have previously analyzed the automatic closing function: the profit or loss percentages, whether they are the default percentages of the system or the ones selected by the trader, can be modified, through the arrow-shaped command, as shown in the image. By scrolling the wheel that appears it will be possible to insert a new set of levels at which the system will automatically close the position.
Any information related to this trade is available to the trader at any time, to allow a complete picture of the investment. Total amount, real-time updated quote, date and time of opening of the position and purchase price of the asset make up the details contained in the summary window always available to the user.
Closing the Position
From the window that contains all the position information and allows a quick summary of its features you can close an open Ripple position on IQ Option. The trader can choose one of the positions to be closed by selecting it from the list, or decide to close them all at the same time: in this case, simply click the “Close All” order.
Since every investment choice, including those to close previously opened positions, must always be made in full awareness of the real-time updated balance sheet, it is of particular importance for the trader to check the amount of available equity at any time. On the IQ Option platform this is located at the top, in a specific section of the screen, allowing the trader to be aware of his portfolio in order to make the best investment choices.
Ripple Trading Opinions Via IQ Option
Almost at the end of this guide dedicated to trading on Ripple, we can now briefly present the strengths and weaknesses of the platform we have examined, and then proceed to evaluate the features offered by IQ Option for trading on Ripple.
Let’s start with the investment required. This is, without a doubt, one of the greatest advantages offered by the platform, since IQ Option allows you to start trading from 1 dollar: a truly minimal amount that allows you to take advantage of all the specific functions and features offered by the system with less than 1 euro.
Let’s not forget that the demo mode of IQ Option is also available, to improve your investment skills and accumulate experience without having to commit any part of your capital. A clear advantage that nothing detracts from the functionality of the platform.
Moving on to the graphic aspect, it is easy for both the user and the visitor to find their way around the pages and commands of the platform: IQ Option offers a clean and complete interface, enriched by numerous graphic features that are useful both in the market study phase and when strictly operational. Not only is it accessible to the trader a chart of Ripple’s performance, as well as other assets, updated in real time: it can be accompanied by graphical indicators for technical analysis, more or less elaborate, which help to build investment strategies.
On IQ Option there is also an online chat mode to connect different users in order to share tips, information or advice. Not only novice traders can benefit from the advantage of following the indications of more experienced traders, but also the latter have the opportunity to build communication channels to enrich their wealth of information.
One of the weak points of the platform, to conclude, can be the wide range of profit lines of the investments, which are automatically identified on the chart as a weak point of the platform: these are shown automatically on the chart, and are processed from the price that appears at the opening of the position and other variables set initially or during the duration of the position.