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XRP and Cardano (ADA) Products Launched by Major Exchange

Wed, 01/11/2023 - 10:49
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Gamza Khanzadaev
New investment products linked to two of top 10 cryptocurrencies by market cap are launched by black-and-yellow crypto giant
XRP and Cardano (ADA) Products Launched by Major Exchange
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Leading cryptocurrency exchange Binance, as part of the expansion of its network of investment products on offer, has launched a new way to invest in XRP and Cardano token ADA.

What is this about?

New XRP- and ADA-oriented products have been launched in the Dual Investments branch of Binance. As of today, holders of these crypto assets are invited to deposit tokens under subscription, choosing a strategy that involves either selling these assets further at a higher price or, conversely, buying them at an undervalued price.

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By selecting a strategy, as well as the desired price that the participant predicts should be accurate, and the date on which that price will show up, the tokens are locked into the product until the selected date, and the annual percentage rate is applied to them. It is a kind of options trading, but with capitalization.

In addition to the previously mentioned XRP and ADA, the new product basket also includes all other major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Polygon (MATIC).

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It is worth remembering that such products on cryptocurrency exchanges carry increased risks. In particular, you will get all the risks associated with locking up money and tokens in any product but without the possibility of early redemption.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.