Whoever you are on a crypto exchange – a greenhorn who just feels like trying a new activity or a seasoned expert who knows the industry from A to Z – you may want to use a crypto trading bot. Ripple is just one of the numerous currencies available for automated trading.
Well, strictly speaking, the currency itself is called XRP. It is the native currency of RippleNet - an RTGS (real-time gross settlement system), digital payment platform, and an exchange, operated by the firm named Ripple Labs Inc., a US-based tech company. Initially known as Opencoin, it was renamed in 2013.
Launched in 2012, RippleNet was created in order to enable instant, secure, and ultra-cheap financial transactions all over the world. Ripple was built using a distributed open-source protocol; it supports numerous tokens that represent cryptocurrencies, fiat money, goods, and even such units of value as mobile minutes and frequent flier miles.
In contrast to other decentralized platforms, RippleNet doesn’t utilize proof of work/proof of stake for verification: the platform uses a network of independent nodes instead. It means that XRP isn’t mined. Or, better say, it’s pre-mined, because the company, acting as a central authority, owns the coins and controls how many of them are currently in circulation.
XRP now could be purchased on almost any crypto exchange. You can store it either in a cold/hot wallet or at the exchange, so that it will be responsible for your asset’s safety.
If you open an account on WunderTrading, you will be able to purchase and sell cryptocurrencies on as many as thirteen platforms from the single place. Find it difficult to make decisions quickly? Well, it may pose a problem, because on a such a volatile market you should act fast when placing orders manually. If it’s challenging for you, or if you are just short of time, you’ll appreciate using a trade bot. Ripple is just one of numerous options. Feel free to choose more!
Besides, to relieve yourself from decision-making, you can also follow the actions of someone else, who is more proficient than you. Create a ripple trading bot with a few clicks of a mouse, and after setting it up, you can take advantage of copy-trading.
Experts with a proven record called signalers offer subscriptions to their trade signals. If you buy it, you get an opportunity to make your bot open the same transactions as the particular signaler. Whenever he or she buys or sells, your bot will automatically do the same.
Or what about arbitrage? Due to – or thanks to – the inefficiency of the market, prices for the same asset might slightly vary on different web resources. You can profit from this phenomenon, if you simultaneously buy and sell crypto, e.g., ripple; an arbitrage bot will spot the right moment for it.
All in all, if you make use of bot trading, ripple XPR currency is a good option. Buy and sell it on WunderTrading whenever you want!