How To Long/Short XRP On FTX

A Step-by-Step Guide

Step 1 -

Signup to Coinbase - Get Free $10

You’ll first need to purchase one of the major currencies. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Click the button below to register and receive your first $10.

$10 Bonus
Step 2 -

Sign Up To FTX Exchange

You’ll now need to Sign Up to FTX Exchange. FTX is a cryptocurrency derivatives exchange built by traders, for traders. They’ve built a platform powerful enough for professional trading firms and intuitive enough for first-time users. There’s no need to verify your KYC details unless you wish to withdraw over $1,000 USD per day. 

Using the button below, you’ll save 5% on trading fees forever.

Sign Up - Save 5%
Step 2 -

Sign Up To FTX Exchange

You’ll now need to Sign Up to FTX Exchange. FTX is a cryptocurrency derivatives exchange built by traders, for traders. They’ve built a platform powerful enough for professional trading firms and intuitive enough for first-time users. There’s no need to verify your KYC details unless you wish to withdraw over $1,000 USD per day. 

Using the button below, you’ll save 5% on trading fees forever.

Sign Up - Save 5%
Step 3 -

Deposit Bitcoin at FTX Exchange

You’ll now need to send your Bitcoin (BTC) over to FTX Exchange. All exchanges have a similar deposit method. Transferring Bitcoin to FTX Exchange is the easiest way to get started, although you can also deposit ETH and other major tokens . Unsure about how to send funds from Coinbase? (Follow this guide)

Make sure you’ve selected the correct coin you wish to deposit. BTC must be sent to a BTC deposit address, etc. Although sometimes recoverable, sending an asset to the wrong type of address should be avoided entirely.

Step 3 -

Deposit Bitcoin at FTX Exchange

You’ll now need to send your Bitcoin (BTC) over to FTX Exchange. All exchanges have a similar deposit method. Transferring Bitcoin to FTX Exchange is the easiest way to get started, although you can also deposit ETH and other major tokens . Unsure about how to send funds from Coinbase? (Follow this guide)

Make sure you’ve selected the correct coin you wish to deposit. BTC must be sent to a BTC deposit address, etc. Although sometimes recoverable, sending an asset to the wrong type of address should be avoided entirely.

FTX Exchange USD
Step 3 -

Convert BTC to USD

Once your deposit has confirmed, you’ll now have access to your funds and you can begin trading on FTX. To get started trading Ripple (XRP) on FTX, you’ll want to click the “Convert” button and convert your BTC for stable USD tokens.

Following the screenshot provided, ensure the conversion is from Bitcoin (BTC) to USD Stablecoins (USD). Enter the amount of BTC you’d like to convert and click “Convert” to proceed.

Step 3 -

Convert BTC to USD

Once your deposit has confirmed, you’ll now have access to your funds and you can begin trading on FTX. To get started trading Ripple (XRP) on FTX, you’ll want to click the “Convert” button and convert your BTC for stable USD tokens.

Following the screenshot provided, ensure the conversion is from Bitcoin (BTC) to USD Stablecoins (USD). Enter the amount of BTC you’d like to convert and click “Convert” to proceed.

FTX Exchange USD
Step 4a -

Go LONG on XRP

Once you’ve converted your BTC to USD and moved over to the “XRP” tab, you’ll be presented with a Price Chart (Center) and some Order Books (Bottom left). For now, we’re going to create our own Limit Order.

The “Price” field will be automatically filled with the most recent price Ripple (XRP) traded at, although this can be changed to your desired price. The “Amount” fields are either the amount of XRP or USD you wish to put down as collateral, your choice. Either field will populate depending on what you enter.

When you’re happy, click “BUY” (Deposit Collateral is shown if no funds are available). Your order will be filled when a Seller sells their XRP for the price you submitted.

FTX Exchange Long Ripple XRP Tutorial
Step 4a -

Go LONG on XRP

Once you’ve converted your BTC to USD and moved over to the “XRP” tab, you’ll be presented with a Price Chart (Center) and some Order Books (Bottom left). For now, we’re going to create our own Limit Order.

The “Price” field will be automatically filled with the most recent price Ripple (XRP) traded at, although this can be changed to your desired price. The “Amount” fields are either the amount of XRP or USD you wish to put down as collateral, your choice. Either field will populate depending on what you enter.

When you’re happy, click “BUY” (Deposit Collateral is shown if no funds are available). Your order will be filled when a Seller sells their XRP for the price you submitted.

FTX Exchange Long Ripple XRP Tutorial
FTX Exchange Short Ripple XRP
Step 4b -

Go SHORT on XRP

Alternatively, you can decide to SHORT if you think the price will go down. The steps to short XRP are identical to those for longing. You’re betting the price will go down, so remember to set your stop-loss and target price accordingly. If you’re new to shorting cryptocurrencies, move slowly at first.

The “Price” field will be automatically filled with the most recent price Ripple (XRP) traded at, although this can be changed to your desired price. The “Amount” fields are either the amount of XRP or USD you wish to put down as collateral, your choice. Either field will populate depending on what you enter.

When you’re happy, click “SELL” (Deposit Collateral is shown if no funds are available). Your order will be filled when a Seller sells their XRP for the price you submitted.

Step 4b -

Go SHORT on XRP

Alternatively, you can decide to SHORT if you think the price will go down. The steps to short XRP are identical to those for longing. You’re betting the price will go down, so remember to set your stop-loss and target price accordingly. If you’re new to shorting cryptocurrencies, move slowly at first.

The “Price” field will be automatically filled with the most recent price Ripple (XRP) traded at, although this can be changed to your desired price. The “Amount” fields are either the amount of XRP or USD you wish to put down as collateral, your choice. Either field will populate depending on what you enter.

When you’re happy, click “SELL” (Deposit Collateral is shown if no funds are available). Your order will be filled when a Seller sells their XRP for the price you submitted.

FTX Exchange Short Ripple XRP
Step 5 -

Convert USD to BTC

Once you’ve completed your XRP trade, win or lose, you may want to convert your USD balance back to BTC for withdrawal. Luckily FTX exchange make this just as simple as it was when you started. Go back to your Wallet, search “USD” and click “Convert”.

Following the screenshot provided, ensure the conversion is from USD Stablecoins (USD) to Bitcoin (BTC). Enter the amount of USD you’d like to convert and click “Convert” to proceed.

ftx usd convert btc
Step 5 -

Convert USD to BTC

Once you’ve completed your XRP trade, win or lose, you may want to convert your USD balance back to BTC for withdrawal. Luckily FTX exchange make this just as simple as it was when you started. Go back to your Wallet, search “USD” and click “Convert”.

Following the screenshot provided, ensure the conversion is from USD Stablecoins (USD) to Bitcoin (BTC). Enter the amount of USD you’d like to convert and click “Convert” to proceed.

ftx usd convert btc
ftx exchange btc withdraw
Step 6 -

Withdraw Your Funds

Unless you’re trading, never keep your coins on an exchange for an extended period of time. To withdraw your Bitcoin (BTC) or whatever funds you converted your USD to, go to your Wallet and click “Withdraw” on your new balance. Bitcoin (BTC) can be safely stored using a software wallet like Exodus or a hardware wallet like a Ledger Nano X.

Enter the amount of Bitcoin (BTC) you’d like to withdraw in the text-box provided. Enjoy the fee-less withdrawals FTX Exchange offers and make sure the withdraw address you have entered is yours and is correct.

When you’re happy, click “Withdraw”. You may be asked for phone/email verification before a withdrawal can be processed.

 

Step 6 -

Withdraw Your Funds

Unless you’re trading, never keep your coins on an exchange for an extended period of time. To withdraw your Bitcoin (BTC) or whatever funds you converted your USD to, go to your Wallet and click “Withdraw” on your new balance. Bitcoin (BTC) can be safely stored using a software wallet like Exodus or a hardware wallet like a Ledger Nano X.

Enter the amount of Bitcoin (BTC) you’d like to withdraw in the text-box provided. Enjoy the fee-less withdrawals FTX Exchange offers and make sure the withdraw address you have entered is yours and is correct.

When you’re happy, click “Withdraw”. You may be asked for phone/email verification before a withdrawal can be processed.

ftx exchange btc withdraw

Trade On FTX. A Cryptocurrency Derivatives Exchange Offering So Much More

A Wide Range Of Contracts

Trade FTT, BTC, ETH, EOS, BNB, XRP, LINK And So Much More

24/7 Support On Demand

Powered by Alameda Research, FTX has a 24/7 OTC portal.

Countless Leveraged Tokens

Instantly SHORT or LONG with up to 3X leverage, no margin required!

Their Native FTT Token

FTT will get socialized gains from the insurance fund on FTX.

Trade On FTX.

A Cryptocurrency Derivatives Exchange Offering So Much More

A Wide Range Of Perpetual Contracts

Trade FTT, BTC, ETH, EOS, BNB, XRP, LINK And So Much More

24/7 Support On Demand

Powered by Alameda Research, FTX has a 24/7 OTC portal.

Countless Leveraged Tokens

Instantly SHORT or LONG with up to 3X leverage, no margin required!

Their Native FTT Token

FTT will get socialized gains from the insurance fund on FTX.

Congratulations!

You're Ready To Trade On FTX Exchange

That’s it!

There’s a ton of Contracts available on FTX and you’ve just traded your first one. We highly recommend exploring other options as more become available on the platform.