BTCUSD and XRPUSD tick value

Beginner Questions
1

Hi,

I was wondering does anyone know the formula or the calculation to work out the tick value or pips value for BTCUSD and XRPUSD.

Thanks.

2

Hello,
You could calculate the value per pip of BTCUSD and of XRPUSD on the following way:
Pip Value = (Pip in decimal places * Trade Size) / Market Price
For the BTCUSD the pip is 0.01
And for the XRPUSD is 0.0001
As they are most traded as CFDs the trade size should be 1 (as 1 CFD is equal to 1 contract)
Please note that the result will be in USD and if your account is in other currency than USD, you should convert it in the base currency of your account.