How to use 20x leverage on AscendEX

How to Use 20x Leverage on AscendEX

AscendEX, formerly known as BitMax, is a cryptocurrency exchange that offers a variety of trading options, including up to 20x leverage. Leverage allows traders to borrow funds from the exchange in order to increase their potential profits. However, it is important to use leverage carefully, as it can also amplify losses.

Before using leverage on AscendEX, it is important to understand the following:

• What is leverage? Leverage is a tool that allows traders to borrow funds from the exchange in order to increase their potential profits. For example, if you have $100 in your account and you use 10x leverage, you will be able to trade with $1,000.
• What are the risks of using leverage? Leverage can amplify both profits and losses. If the market moves in your favor, you can make a lot of money. However, if the market moves against you, you can lose all of your initial investment.
• How to use leverage on AscendEX: Using leverage on AscendEX is a simple process. First, you need to create an account and deposit funds. Once you have done this, you can navigate to the "Futures" tab and select the asset that you want to trade. Then, you need to select the "Leverage" option and choose the amount of leverage that you want to use.

Here is a step-by-step guide on how to use 20x leverage on AscendEX:

1. Create an account and deposit funds.
2. Navigate to the "Futures" tab and select the asset that you want to trade.
3. Select the "Leverage" option and choose "20x".
4. Enter the amount of money that you want to trade with.
5. Click the "Buy" or "Sell" button.

Here are some additional tips for using leverage on AscendEX:

• Start with a small amount of leverage. It is important to start with a small amount of leverage until you understand how it works.
• Only use leverage on assets that you are comfortable with. Do not use leverage on assets that you do not understand or that you are not comfortable with.
• Be aware of the risks involved. Leverage can amplify both profits and losses. It is important to be aware of the risks involved before using leverage.
• Trade responsibly. Do not trade with more money than you can afford to lose.