Ripple

WHAT IS RIPPLE?

Ripple (XRP) was founded in 2012 which is a digital coin that has disrupted the traditional concept of money.  Transactions in Ripple are registered on the blockchain network which is perceived as more secure and transparent way of carrying out financial transactions.  

2017 was a record-breaking year for cryptocurrencies. The rise in the value of Bitcoin increased the demand for other crypto currencies coins and lead to a huge number of ICOs (Initial Coin Offering).  There are currently approximately 1,600 digital coins in circulation!

The Ripple protocol is implemented through an open source and a decentralised platform that provides a seamless transfer of money in USD, Yen, Litecoin, or Bitcoin.

HOW TO TRADE RIPPLE WITH ADSS

To trade Ripple on an exchange and not as a CFD, you would need access to an exchange, besides a virtual wallet which could take several days to acquire. However, when you trade CFDs on Ripple with us, all you need is an ADSS CFD trading account.

 Another major advantage of trading Ripple as a CFD is that it is as easy to go short as it is to go long meaning that you can benefit from the rise as well as the fall in price against other currencies but remember you never actually own the actual currency.

We quote Ripple against the US dollar and you can trade CFDs on Ripple by opening long and short positions only on our OREX platform.

WHAT AFFECTS RIPPLE?

Ripple is different than other conventional currencies in the way that it is not affected by news or economic and political events, but its value is affected by the following:

Availability

It is different to Bitcoin, as there is no limit to the supply of Ripple. However, many Ripple units will continue to be added and / or removed from time to time, which may affect its availability.

Strong acceptance

Like Ethereum and Bitcoin, Ripple is becoming more widely accepted amongst individuals and institutions alike.

Government legislation

Governments are still adapting to cryptocurrencies, with considerations for regulation and new guidelines still being under review in many countries.

Media coverage

Negative news, especially related to security lapses and hacks, can negatively affect the general perspective of Ripple’s value.

HOW CAN I TRADE CRYPTOCURRENCIES VIA A CFD?

With ADSS, you can trade a cryptocurrency CFD on:

Risks Of Trading Cryptocurrencies Via A CFD?

Cryptocurrency CFDs are a high risk investment as they can be subject to extreme volatility, and an investor may be exposed to a number of additional risks that may be not be present in CFDs in other asset classes.

For further information on these risks please refer to our Cryptocurrency CFD Risk Warning.