How to play Upbit leverage trading on mobile

To initiate leverage trading on Upbit Mobile, create an account, fund it, enable leverage trading, choose a trading pair, set leverage and order details, monitor the position, and understand the associated risks.

Nov 09, 2024 at 07:20 am

How to Play Upbit Leverage Trading on Mobile

Step 1: Create an Upbit Account

Visit the official Upbit website or download the mobile app.
Click "Sign Up" and follow the prompts to create an account.
Provide your personal information, including your name, email address, and phone number.
Create a password and two-factor authentication (2FA).
Verify your identity by uploading a government-issued ID.

Step 2: Fund Your Account

Log in to your Upbit account and click "Deposit."
Select the currency you wish to deposit and the deposit method (e.g., bank transfer, credit/debit card).
Follow the on-screen instructions to complete the deposit process.

Step 3: Enable Leverage Trading

Once you have funded your account, click "Settings" in the top right corner of the mobile app.
Scroll down to "Trading" and tap "Enable Leverage Trading."
Read and agree to the terms and conditions.
You will need to provide additional information, such as your income and investment experience.
Once your account is approved for leverage trading, you can start trading leveraged positions.

Step 4: Choose a Trading Pair

Leverage trading is available on selected trading pairs.
Click on the "Trade" tab in the mobile app and scroll down to the "Leverage" section.
You will see a list of available trading pairs, along with the maximum leverage available for each pair.
Choose a trading pair that you want to trade with leverage.

Step 5: Set Leverage and Order Details

Once you have chosen a trading pair, you can set the leverage you want to use.
The maximum leverage available varies depending on the trading pair and your account level.
Enter the amount of the base currency you want to trade.
Select the order type (e.g., limit order, market order).
Set the price and stop-loss level for your order.

Step 6: Monitor and Manage Your Position

Once you have placed your leveraged order, it will be executed immediately.
You can monitor the status of your position in the "My Orders" section of the mobile app.
You can also adjust the leverage and close your position at any time.

Step 7: Understand the Risks of Leverage Trading

Leverage trading carries significant risks.
You can lose more money than you initially invested.
It is important to understand the risks before you start leverage trading.
Use leverage only if you are an experienced trader and understand the risks involved.

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