Huobi Group, the blockchain technology, and exchange operator company, announced today that its Huobi Derivative Market (Huobi DM) 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 to 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:
- A competitive fee structure for XRP: 0.02% to open or close for makers and 0.03% to open or close for takers.
- Risk management: including Price Limit, Order Limit, and Position Limit.
- Risk control: with sophisticated price limit mechanism, no clawback 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.
