We at Options Reviews always advise traders to rather trade cryptocurrency options rather than cryptocurrencies themselves. Why? Well this advice is applicable to well established cryptocurrencies like Ripple. Trading Ripple at this time when it has reached its all-time high won’t make you big profits in the short run. In long run maybe, but you can’t expect short term returns. With options it is entirely different story. With options you can make money whether the price of Ripple goes up or down. You make money as long as you correctly predict price movement. Interested? Keep on reading about 24Option Ripple trading. If you are interested in trading other cryptocurrencies feel free to read our article about 24Option crypto trading.
24Option Ripple Trading – How To Trade Ripple Options?
You can trade via any broker you like, but we will use 24Option as well known options broker. We have prepared comprehensive 24Option broker review which you can read if you are interested. 24Option is reliable broker that has been around for years. They are experts at options trading and cryptocurrency options are just new addition to their offer. You can trade option on stocks, indices, commodities and currencies as well.
That being said we will take you through trading process. It is not a rocket science, but it helps. First take a look at the picture below that show 24Option trading platform.
You first need to choose asset you are going to trade. On the left hand side you can see list of assets. Scroll down till you find XRPUSD pair. This is where you can trade ripple in US dollars. You need to select that pair. After you select it take a look at the right hand side. There you can see sell and buy button with ripple prices on them. This is how you trade. At any given time you need to choose whether you are going to buy or sell. If you choose to buy and price of ripple in USD goes up you make money. If you think price will go down you need to choose sell.
There are additional options that can help you while you are trading. Option “open trade when rate xy” is great tool that you can use to enter trade when there is significant price movement. For example if you are trying to catch a trend, you only need to set price in the trend direction. If you think there will be upward trend you just set rate 5% higher than current price. Once the price goes up by 5% it will open trade for you. If upward trend continues you make money. We have an article about trend trading. Feel free to read it.
24Option Ripple Trading – Conclusion
If you are into cryptocurrencies and if you are well informed about ripple and its great potential you can utilize that knowledge by trading options. If you wish to trade more cryptocurrency options you can read our article about 24option crypto trade. Trading options works fast, it can give you returns practically every minute. Don’t miss out on this opportunity to make money. Click on the button below the text to create free account at 24Option and start trading. Good luck!