How to open leverage on Crypto.com mobile version

For risk-averse traders, Crypto.com's "1x" leverage option allows trading without the risks associated with higher leverage levels.

Nov 24, 2024 at 06:17 am

How to open leverage on Crypto.com mobile version

Step 1: Log in to your Crypto.com account

1. Open the Crypto.com app on your mobile device.
2. Enter your registered email address and password.
3. If you do not have an account, you can create one by clicking on "Create an Account" and following the instructions.

Step 2: Find the "Derivatives" section

1. Once you are logged in, tap on the "Derivatives" tab at the bottom of the screen.
2. Here you will see a list of different derivative products offered by Crypto.com.
3. Tap on "Linear Futures"

Step 3: Choose the asset you want to trade

1. On the Linear Futures page, you will see a list of all available assets.
2. Tap on the asset you want to trade.
3. For example, if you want to trade BTC/USD, tap on BTC/USD.

Step 4: Select the leverage you want to use

1. Once you have selected the asset, you need to choose the leverage you want to use.
2. Leverage is a multiplier that allows you to trade with more capital than you have in your account.
3. For example, if you have $1,000 in your account and you use 10x leverage, you can trade with $10,000.
4. Leverage trading involves a high level of risk and can lead to significant losses.
5. Only use leverage if you fully understand the risks involved.
6. If you are not comfortable with leverage, you can trade without it by selecting "1x" leverage.

Step 5: Enter the amount you want to trade

1. Once you have selected the leverage, you need to enter the amount you want to trade.
2. You can enter the amount in dollars or in the asset you are trading.
3. For example, if you want to trade $1,000 worth of BTC/USD, enter $1,000.

Step 6: Open a position

1. Once you have entered the amount you want to trade, tap on the "Buy/Sell" button.
2. A confirmation window will then appear.
3. Review the details of the trade and tap on "Confirm" to open a position.

Step 7: Monitor your position

1. Once you have opened a position, you can monitor it in the "Positions" tab.
2. Here you will see the current price of the asset, your profit/loss, and other important information.
3. You can also close your position at any time by tapping on the "Close" button.

Additional tips:

• Leverage can be a powerful tool, but it can also be risky.
• Only use leverage if you fully understand the risks involved.
• Start with a small amount of leverage and gradually increase it as you become more experienced.
• Always set stop-loss orders to limit your losses.
• Monitor your positions closely and close them if the market moves against you.