How to close position with BigONE leverage

How to Close Position with BigONE Leverage

BigONE is a leading cryptocurrency exchange that offers a variety of trading options, including leverage trading. Leverage trading allows traders to borrow funds from the exchange to increase their potential profits. However, it is important to remember that leverage trading also increases the risk of losses.

If you are new to leverage trading, it is important to understand the risks involved before you begin trading. You should also make sure that you have a clear understanding of how to close your position.

Steps to Close Position with BigONE Leverage

1. Log in to your BigONE account.
2. Click on the "Trading" tab.
3. Select the "Leverage" tab.
4. Find the position that you want to close.
5. Click on the "Close" button.
6. Confirm the closing price.
7. Click on the "Confirm" button.

Additional Tips

• You can also close your position by using the "One-Click Close" feature. This feature allows you to close your position with a single click.
• If you are closing a position that is in profit, you will need to pay a closing fee. The closing fee is calculated based on the size of your position and the current market price.
• If you are closing a position that is in loss, you will not need to pay a closing fee. However, you will need to repay the funds that you borrowed from the exchange.

Example

Let's say that you have a long position on BTC/USDT with a leverage of 10x. The current market price of BTC/USDT is $10,000. You have borrowed $10,000 from the exchange to open this position.

If you want to close your position, you will need to repay the $10,000 that you borrowed from the exchange. You will also need to pay a closing fee. The closing fee will be calculated based on the size of your position and the current market price.

In this example, the closing fee would be $10. This means that you will need to pay a total of $10,010 to close your position.

Conclusion

Closing a position with BigONE leverage is a simple process. However, it is important to understand the risks involved before you begin trading. You should also make sure that you have a clear understanding of how to close your position.