How to activate LBank 100 times contract

To activate LBank's 100 times contract, traders must create an account, verify their identity, enable leveraged trading, select a trading pair, set their leverage, and place an order.

Nov 26, 2024 at 07:31 am

How to Activate LBank 100 Times Contract

Leveraged trading, also known as margin trading, allows traders to amplify their returns by borrowing funds from an exchange or broker. By using leverage, traders can increase their potential profits, but they also increase their potential losses.

LBank offers a variety of leveraged trading products, including 100 times contracts. 100 times contracts are a type of leveraged contract that allows traders to trade with up to 100 times their initial margin. This means that if a trader has $100, they can trade with up to $10,000.

Steps to Activate LBank 100 Times Contract

1. Open an LBank account

If you do not already have an LBank account, you will need to create one. You can do this by visiting the LBank website and clicking on the "Sign Up" button.

2. Verify your identity

Once you have created an account, you will need to verify your identity. This can be done by providing a government-issued ID and a proof of residency.

3. Enable leveraged trading

Once your identity has been verified, you will need to enable leveraged trading. To do this, click on the "Settings" tab in the top right corner of the screen and then click on the "Leveraged Trading" tab.

4. Select a trading pair

Once you have enabled leveraged trading, you will need to select a trading pair. LBank offers a variety of trading pairs for 100 times contracts, including BTC/USDT, ETH/USDT, and ADA/USDT.

5. Set your leverage

Once you have selected a trading pair, you will need to set your leverage. You can do this by clicking on the "Leverage" button in the top right corner of the screen. LBank offers a variety of leverage options, from 1x to 100x.

6. Place an order

Once you have set your leverage, you can place an order. To do this, click on the "Buy" or "Sell" button in the bottom right corner of the screen.

Risks of Leveraged Trading

Leveraged trading can be a powerful tool, but it also comes with a number of risks. These risks include:

• The potential for losing more money than you deposit. When you trade with leverage, you are borrowing money from an exchange or broker. If the market moves against you, you may be required to repay more money than you deposited.
• The potential for liquidation. If you lose too much money on a leveraged trade, your position may be liquidated. This means that your exchange or broker will sell your assets to cover your losses.
• The potential for emotional trading. Trading with leverage can be stressful, and it can lead to emotional trading decisions. This can increase your risk of making mistakes.

Conclusion

Leveraged trading can be a powerful tool, but it is important to understand the risks involved before you start trading. If you are new to leveraged trading, it is recommended that you start with a small amount of money and gradually increase your leverage as you gain experience.