07-13-2021, 01:29 PM
Please never use leverage when investing in crypto. Your money can be wiped out in m
<!-- SC_OFF --><div class="md"><p>Do not use leverage to trade crypto. If you don't know what leverage is, it essentially means borrowing money from an exchange or other service to buy crypto and increase the riskiness of your trades.</p> <p>Your potential returns are higher, but you also suffer a real risk of being liquidated, which is when your investments fall enough in value that the lender who you owe your money to closes your positions because they are afraid you will not be able to pay them back. I know several people who have had this happen to them within a few minutes, and they lost everything. Without leverage, at least you have the chance to hodl until it goes back up.</p> <p><strong>Never use leverage to trade crypto. It is a dangerous tactic and can lead you to lose your entire investment within the blink of an eye.</strong></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/roberthonker"> /u/roberthonker </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oj6ux1/please_never_use_leverage_when_investing_in/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oj6ux1/please_never_use_leverage_when_investing_in/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Do not use leverage to trade crypto. If you don't know what leverage is, it essentially means borrowing money from an exchange or other service to buy crypto and increase the riskiness of your trades.</p> <p>Your potential returns are higher, but you also suffer a real risk of being liquidated, which is when your investments fall enough in value that the lender who you owe your money to closes your positions because they are afraid you will not be able to pay them back. I know several people who have had this happen to them within a few minutes, and they lost everything. Without leverage, at least you have the chance to hodl until it goes back up.</p> <p><strong>Never use leverage to trade crypto. It is a dangerous tactic and can lead you to lose your entire investment within the blink of an eye.</strong></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/roberthonker"> /u/roberthonker </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oj6ux1/please_never_use_leverage_when_investing_in/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/oj6ux1/please_never_use_leverage_when_investing_in/">[comments]</a></span>Kind Regards R