How to use 20 times leverage in MEXC

Leverage trading involves significant risks, and it's crucial to use it prudently by understanding the potential downsides and employing proper risk management strategies.

Nov 09, 2024 at 05:00 pm

How to Use 20 Times Leverage in MEXC

Leverage is a powerful tool that can be used to increase your profits in cryptocurrency trading. However, it is important to understand the risks involved before you use leverage. In this article, we will show you how to use 20 times leverage in MEXC.

Step 1: Open a MEXC Account

The first step is to open a MEXC account. You can do this by visiting the MEXC website and clicking on the "Sign Up" button. You will need to provide your email address, create a password, and agree to the terms of service.

Step 2: Fund Your MEXC Account

Once you have opened a MEXC account, you will need to fund it with cryptocurrency. You can do this by depositing cryptocurrency from your wallet or by purchasing cryptocurrency with a credit card or debit card.

Step 3: Enable Leverage Trading

Once you have funded your MEXC account, you will need to enable leverage trading. To do this, click on the "Margin" tab at the top of the page. Then, click on the "Enable Margin Trading" button and select 20 times leverage by clicking on “20x”.

Step 4: Choose a Trading Pair

The next step is to choose a trading pair. A trading pair is a pair of cryptocurrencies that you can trade against each other. For example, you could trade Bitcoin (BTC) against Ethereum (ETH).

Step 5: Place a Trade

Once you have chosen a trading pair, you can place a trade. To do this, click on the "Buy" or "Sell" button. You will need to enter the amount of cryptocurrency that you want to trade and the price at which you want to trade it.

Step 6: Close Your Trade

Once you have placed a trade, you can close it at any time. When you close a trade, the value of your holdings will be returned to your default account. To do this, click on the "Close" button.

Step 7: Withdraw Your Profits

Once you have closed your trade, you can withdraw your profits to your wallet or bank account. To do this, click on the "Withdraw" tab at the top of the page. Then, select the cryptocurrency that you want to withdraw withdrawal method.

Tips for Using Leverage

Here are a few tips for using leverage:

• Only trade with leverage if you understand the risks involved.
• Start with a small amount of leverage until you get the hang of it.
• Don't overextend yourself.
• Be prepared to increase your leverage if the market goes in your favor.
• Be prepared to decrease your leverage if the market goes against you.
• Consider using a stop-loss order to protect your profits.
• Use leverage trading through futures with more prudent trade management such as stop markets and take profit orders.

Conclusion

Leverage can be a powerful tool. It can earn you more profits, however, It is important to use it wisely and cautiously. By following the tips in this article, you can use leverage to increase your profits in cryptocurrency trading.

Additional Information

In addition to the steps outlined above, here are some additional information that you may find helpful:

• MEXC offers a variety of leverage options, including 10x, 20x, and 50x.
• You can use leverage to trade spot, margin, and futures contracts.
• MEXC has a variety of resources available to help you learn more about leverage trading.