Learn more about leverage trading with bitoftrade
So, you’re looking to start earning with crypto trading? Leverage is a great trade type for this!
For a short walkthrough of leverage trading on our platform watch tutorials:
How to Do Leverage Trading on bitoftrade
How to Place A Stop-Loss Order on bitoftrade
Learn more about leverage with the article: The Art of Leveraged Trading: A Professional Approach
Leverage trading increases your buying capacity and exposure to market opportunities by enabling you to pay less than the full price of your investment. What’s more, we offer specific features as part of our leveraging process! The amount of money you can borrow is relative to your initial investment and determined by your chosen leverage.
Let's say you have $100 to buy some ETH. If ETH rises by 10%, you’ll receive an additional $10. However, if you use 10x leverage on your initial investment, you’ll have 10x more funds in your position. This means that your returns will increase tenfold as well. Plus, if ETH rises by 10% soon, you’ll receive an additional $100.
However, please take into account that if the value of ETH drops by 10%, you’ll lose $100. Since your initial investment was $100, a margin call will be initiated, and your position will be liquidated.
At bitoftrade, we offer advanced trading tools such as leverage trading. You can increase potential profits by applying an x20 to your crypto holdings!
You can learn how to leverage trade with bitoftrade by following our simple steps:
- Go to our trading dashboard by clicking on “Start Trading”.
- Connect your wallet and choose “Leverage” on the trading dashboard.
If it’s your first time using the leverage feature on bitoftrade, you’ll need to approve the procedure in five simple steps:
- Click “Link Wallet” and approve by signing two requests.
- Click “Create an Account”. This will create a leverage account linked to your wallet.
- Click “Approve USDC”. This is a one-time procedure (and includes gas fees) that approves our smart contracts to interact with your USDC balance. This step may take a few minutes.
- Deposit USDC to your leverage account. Leverage trading operates in USDC, so please make sure you have USDC in your wallet and ETH to pay for gas fees. This step may take a few minutes.
- After you have a positive balance in your account you can start trading. Our leveraged features include Market Orders, Limit Orders, Stop Limit Orders, and the ability to both Deposit and Withdraw funds. Choose your leveraged token and the rest of the terms of the order.
- Click “Confirm” to view your transaction summary, including all estimated fees.
- Confirm your transaction, and you’re all set. You can see your open positions at all times and close if needed.