U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

XRP/USD Perpetual Swap Contract to Go Live on BitMEX: Details

News
Tue, 02/04/2020 - 06:12
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • BitMEX launches an XRP/USD perpetual swap contract while the token is still trading "above zero"

Cover image via 123rf.com
Contents

BitMEX has announced its XRP/USD perpetual swap contract will become available for trading on Feb. 5, 2020, at 04:00 UTC. 

Must Read
Crypto Derivatives Giant BitMEX Is Losing Its Power: Analyst - READ MORE

It's 'about time' to trade XRP/USD pair

The new product, which is similar to BitMEX's Bitcoin futures swap, will trade without a set expiration date in perpetuity. Each futures contract is worth $1. Users are required to pay a funding fee every eight hours. 

Traders will now be able to go long or short on XRP with 50x leverage and put their money where their mouth is.    

The exchange's CEO Arthur Hayes said that he didn't care whether or not it was called Ripple or XRP while commenting on the new addition. The only thing that mattered was that it was still worth more than zero.  

Must Read
Here's How Much BitMEX Makes in Fees from Derivatives Trading in One Single Day - READ MORE

An important product for XRP  

BitMEX has huge sway over the cryptocurrency market. As reported by U.Today, its Bitcoin futures trading volumes recently exceeded $2 trln. This is why one shouldn't underestimate how the new contract will affect the XRP market. 

Prominent crypto trader Luke Martin jokingly said that he was sending thoughts and prayers to Ripple. 

On the flip side, XRP could soon form the 'Wyckoff Spring' pattern, which means that the new BitMEX pair could be actually positive for its price. Analyst Sean Nance predicted that the XRP price could "push higher" once trading commences. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
Bitcoin (BTC) Scammers Impersonate Bill Gates and Endanger Almost 30K YouTubers

Bitcoin (BTC) Scammers Impersonate Bill Gates and Endanger Almost 30K YouTubers

Bitcoin (BTC) Price Has Very Low Chance of Hitting New All-Time High This Year

Bitcoin (BTC) Price Has Very Low Chance of Hitting New All-Time High This Year

Bitcoin (BTC) Price to Peak in 2026 at $150,000: Trader

Bitcoin (BTC) Price to Peak in 2026 at $150,000: Trader

Bitcoin (BTC) Scammers Impersonate Bill Gates and Endanger Almost 30K YouTubers

News
Sun, 03/29/2020 - 19:38
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Bitcoin (BTC) scammers know no quarantines or self-isolation. Dozens of fraudulent airdrops falsely endorsed by Bill Gates ask YouTubers to send in their Bitcoins.

Cover image via stock.adobe.com
Contents

Typically, fake YouTube airdrops are quite similar to each other. With the current pandemic enraging across the planet, a series of scams that impersonate Bill Gates have some distinct features.

With Bitcoin (BTC) Price Drop, Scammers are Getting Greedy

Just like in several other previous cases, the fraudsters launch fake 'live streams' on YouTube, asking users to send in their Bitcoins (BTC) in order to get redouble the initial amount.  An 'entry ticket' into to this scam starts at 0.1 BTC which is more than $650. With previous scams, it was much cheaper.

Fake YouTube Bitcoin (BTC) airdrop
Image via YouTube

The scammers also publish the URLs of this campaign, which are linked to suspicious websites. Unlike previous cases, fraudsters launch multiple live streams simultaneously. At press time of this article, at least two of them were active.

Multiple scam streams on YouTube
Image by YouTube

According to statistics, the average popularity of one live stream is about 30,000 viewers.

Very Bad Idea

Alongside that, launching fake airdrops on behalf of Microsoft's Bill Gates isn't a slam dunk for the fraudsters. It may seem ironic, but Mr. Gates is a prominent critic of cryptocurrencies, particularly of Bitcoin (BTC). He is sure that digital assets represent a kind of a ‘greater fool theory’ type of investment.

Must Read
Bitcoin Price Prediction [Updated]: Bill Gates and Joe Davis Say It’ll Be $0. How Is That Possible? - READ MORE

Cryptocurrencies kill, added Mr. Gates. To him, its only use-case besides short-term speculations is illegal funding for drug trafficking:

Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.

The U.Today team will one more time state that no airdrop will be conducted without the notification from an official website of a product or token. Any YouTube, Medium, and/or Telegram announcements may shill scammers. Never send your money to unknown persons.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Recommended articles
Bitcoin (BTC) Scammers Impersonate Bill Gates and Endanger Almost 30K YouTubers

Bitcoin (BTC) Scammers Impersonate Bill Gates and Endanger Almost 30K YouTubers

Bitcoin (BTC) Price Has Very Low Chance of Hitting New All-Time High This Year

Bitcoin (BTC) Price Has Very Low Chance of Hitting New All-Time High This Year

Bitcoin (BTC) Price to Peak in 2026 at $150,000: Trader

Bitcoin (BTC) Price to Peak in 2026 at $150,000: Trader