How to return the currency with full leverage on Upbit

How to Return the Currency with Full Leverage on Upbit

Upbit, a leading South Korean cryptocurrency exchange, offers a range of trading options, including leveraged trading. However, if you wish to withdraw your currency with full leverage, certain steps must be followed to ensure a smooth process.

Steps to Return Currency with Full Leverage on Upbit:

1. Calculating Leverage Position:
   • Determine the amount of leverage you have applied to your trading position.
   • For example, if you have borrowed 3x the value of your initial investment, your leverage ratio would be 3.
2. Determining Leverage Requirement:
   • Calculate the amount of currency you need to return to cover your leveraged position.
   • To do this, divide your initial investment by the leverage ratio.
   • Continuing with the previous example, if you initially invested $1000 and applied a leverage of 3x, you would need to return $333.33 ($1000/3).
3. Completing Outstanding Orders:
   • Close any open leveraged trades before returning the currency.
   • To do this, navigate to the "Orders" tab and cancel any active orders.
   • Ensure that all positions are closed before proceeding.
4. Depositing Currency:
   • Transfer the required amount of currency (as calculated in step 2) into your Upbit account.
   • You can deposit funds via various methods, such as wire transfer or cryptocurrency transfer.
   • Once the funds are credited to your account, verify the balance to confirm the deposit.
5. Repaying Leverage:
   • Navigate to the "Margin" section of your Upbit account.
   • Locate the "Repay" button and enter the amount of currency you need to repay.
   • Review the confirmation details and click "Repay" to complete the transaction.
6. Confirming Repayment:
   • Check your Upbit account to ensure the leverage has been fully repaid.
   • You may receive a confirmation message or email from Upbit confirming the successful repayment.
7. Withdraw Currency:
   • Once the leverage has been fully repaid, you can withdraw your currency.
   • Navigate to the "Withdraw" section of your Upbit account.
   • Select the currency you wish to withdraw, enter the amount, and follow the on-screen instructions.