Ripple IQ Option - XRP CFD Trading

Ripple IQ Option | XRP CFD Trading | Crypto CFDs

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IQ Option offers Ripple (XRP) CFD Trading

IQ Option offers CFD trading in the cryptocurrency used in the Ripple network, which is called Ripple and has the ticker symbol XRP. XRP is traded on cryptocurrency exchanges. CFDs are contracts for difference which have a value referenced to the price of XRP on exchanges. They let the trader trade XRP, without owning it.

Ripple is a network (RippleNet) used to send money, including cross-border transactions requiring currency exchange (specifically it allows money to be transferred, settled and exchanged in real time). It uses the XRP Ledger, which is a distributed electronic ledger using cryptography for signing and verifying transactions. Ripple makes use of Gateways to move money into and out of the XRP Ledger. Gateways allow the XRP Ledger to function as a currency exchange. XRP is the cryptocurrency used on the XRP Ledger. XRP does not need to go through a Gateway, but the Gateway allows other currencies to be moved across the Ripple network.

XRP is used to provide a bridge for currencies. This means that payments including currencies from emerging economies can be sent via the Ripple network.

The XRP Ledger uses a consensus algorithm to allow for real time transaction processing (Ripple says that transactions are settled in 4-5 seconds). The XRP Ledger Consensus Protocol is a way for the network to agree on the order with which transactions have occurred and the current state of the ledger. This prevents double spend, which other cryptocurrencies with different distributed electronic ledgers also prevent, but by using a different approach. One of the features of cryptocurrencies is having a distributed ledger which can also solve the double spend problem, without being centralised.

XRP has a finite supply, namely 100 billion. This supply decreases over time as each transaction eats up a very small amount of XRP. The smallest unit of XRP is called a drop and there are 100 quadrillion of these (thus the supply is good for a long time). Ripple as a company releases XRP each month, since it holds a large reserve of it. It does this to allow for stability from predictability in the supply of XRP.

Why is Ripple called Ripple ? Because it sends payments using a system of trust, allowing payments to 'ripple' across the network.

Ripple does not process smart contracts via its network, like Ethereum, but it lets contracts be settled, which are run as applications elsewhere. As well as holding a reserve of XRP and releasing it, Ripple the company makes a number of products for use by enterprises. These are xCurrent, xVia and xRapid.

Cryptocurrencies are built for purposes and some cryptos are there for peer-to-peer payments, as well as allowing smart contracts and a whole host of other reasons. What powers the creation of some cryptos is solving issues that other implementations have encountered, including in scaling up to process larger volume transactions in real time. Ripple addresses this by being built to support this kind of purpose (specifically moving money across the world) and has designed its infrastructure to do this. So to some extent it is solving somewhat different problems from some other cryptos, while using a network based protocol, a distributed electronic ledger, trust founded on cryptography and a distributed consensus algorithm along with a value token (XRP), creating significant similarities with other cryptocurrency based networks, as well as differences.

At IQ Option, Ripple can be traded with a range of CFDs on IQ Option's trading platform, which is available as a web trader and can be downloaded for desktop. This platform has 10+ technical indicators and supports the use of multiple charting layouts. IQ Option also provides apps for tablet and mobile. IQ Option has a relatively wide range of markets and crypto CFDs available offering Forex, Metals, Indices, Energy, Soft Commodities, Options, Stocks, ETFs and Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Qtum, Ethereum Classic, OmiseGo, Dash, TRON and Zcash CFDs.

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