How to open leverage in KuCoin mobile version

To begin leveraging cryptocurrency trading on KuCoin, download the mobile app, create an account, and navigate to the Futures trading platform.

Nov 13, 2024 at 03:24 pm

Step 1: Install the KuCoin Mobile App

Begin by installing the KuCoin mobile app from the Google Play Store (for Android devices) or the App Store (for iOS devices). Once the installation is complete, launch the app and create a new account by entering your email address and setting up a strong password.

Step 2: Fund Your KuCoin Account

To trade on KuCoin Futures, you'll need to fund your account with cryptocurrencies. You can deposit funds from your personal crypto wallet or purchase them directly through KuCoin's in-app fiat gateway.

Step 3: Navigate to the Futures Trading Page

Once your account is funded, open the KuCoin app and click on the "Futures" tab located at the bottom of the screen. This tab provides access to the KuCoin Futures trading platform.

Step 4: Change Your Leverage Settings

To enable leverage trading, navigate to the "Settings" section of the KuCoin Futures platform. Under "Leverage," choose the desired leverage multiplier, ranging from 1x to 100x. The higher the leverage, the greater the potential for both profits and losses.

Step 5: Choose a Trading Pair

Select the trading pair you wish to trade with leverage. KuCoin offers a wide range of cryptocurrency pairs for futures trading, including BTC/USDT, ETH/USDT, and SOL/USDT.

Step 6: Place an Order

After selecting your trading pair, navigate to the "Trade" tab. Enter the order quantity, choose the desired order type, and set the entry price. You can select a Market Order (executed at the current market price) or a Limit Order (executed at a specific price).

Step 7: Monitor Your Positions

Once your order is executed, you can monitor the performance of your leveraged position in the "Positions" tab. Closely monitor your position to manage risk and take profit when appropriate.

Step 8: Manage Risk Effectively

Leverage trading amplifies both profits and losses. To mitigate risks, it's crucial to implement sound risk management strategies, such as setting stop-loss orders to limit potential losses and maintaining a reasonable leverage ratio.

Step 9: Understand Leverage Fees

KuCoin charges interest on all leveraged positions. The interest rate varies depending on the trading pair and the leverage multiplier used. Ensure you're aware of these fees before placing a leveraged trade to avoid unanticipated expenses.

Step 10: Practice on a Demo Account

Before trading on the live market, it's advisable to practice using a KuCoin demo account. This allows you to familiarize yourself with the platform, experiment with different strategies, and simulate trading with virtual funds without any risk.