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Huobi DM Launches Ripple (XRP) Contracts

As of today, there’s a brand new way to trade on Huobi Derivative Market (Huobi DM). The crypto asset contract service has launched Ripple (XRP) and revamped its user experience to include trigger orders and a streamlined user onboarding process.

“We’re always looking to serve our users – and the broader crypto community – better, so this was a natural decision,” said Ross Zhang, Head of Marketing for Huobi Group. “Adding XRP to our growing list of coin types on Huobi DM and improving our user experience are just further steps in our goal of building Huobi DM into the premier platform of its kind.”

Inclusion on Huobi DM means traders will now be able take both long and short positions on XRP, allowing for arbitrage, speculation, and hedging. Since 2014, the value of XRP has fluctuated between $0.002802 and $3.84, making Huobi DM a potentially powerful tool in managing risk and uncertainty.

In addition to XRP, Huobi DM currently offers weekly, bi-weekly, and quarterly cryptocurrency contracts for Bitcoin (BTC), Ethereum (ETH), and EOS (EOS), and Litecoin (LTC).

The Huobi DM team has also enabled trigger order functionality for the platform. Starting today, users can now utilize this type of pre-set orders to set take profits and stop losses. While trigger order functionality is currently limited to web applications, the Huobi DM team expects to enable it for mobile orders soon. Huobi DM has also streamlined its user onboarding process, eliminating the need for uploaded photos and instituting a handwritten signature requirement instead.

Features of Huobi DM:

  • Competitive fee structure for XRP: 0.02% to open or close for makers and 0.03% to open or close for takers.
  • Superior risk management: including Price Limit, Order Limit, and Position Limit.
  • Superior risk control: with sophisticated price limit mechanism, no claw back has occurred since its launch.
  • Real-time risk supervision: constantly monitor contract prices, index prices, abnormal transactions, and positions.
  • Newly raised open position limits for all crypto contracts to up to twice their previous level and order limits to more than double their previous level.
  • User protections: In addition to a 20,000 BTC Huobi Security Fund to protect users against catastrophic security failures, Huobi also has a dedicated Risk Management Insurance Fund for each trading pair.

Disclaimers: Digital assets are innovative trading products, and prices fluctuate greatly. Please rationally judge your trading ability and make decisions prudently. Please note that users must clear the requisite KYC checks and assessments prior to commencing usage of Huobi DM. Huobi DM is not available to users from the United States of AmericaSingaporeIsraelIraqHong Kong (China), CubaIranNorth KoreaSudanMalaysiaSyria, Samoa Eastern, Puerto RicoGuamBangladeshEcuador, and Kyrgyzstan.

For more information on Huobi DM, please visit www.hbdm.com

About Huobi:

Consisting of ten upstream and downstream enterprises, Huobi Group is the world’s leading blockchain company. Established in 2013, Huobi Group’s accumulative turnover exceeds US $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries. For more info, visit www.hbg.com

Oliver Smith

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