How to cancel Poloniex leverage

To cancel leverage on Poloniex, users can log in, navigate to the "Balances" and "Margin" tabs, and click the "Cancel Leverage" button twice, subject to applicable fees.

Nov 25, 2024 at 12:27 pm

How to Cancel Poloniex Leverage

Poloniex is a cryptocurrency exchange that offers a wide range of trading options, including leveraged trading. Leveraged trading allows traders to borrow funds from the exchange to increase their potential profits. However, leveraged trading also comes with increased risk, so it's important to understand how to use it properly before getting started.

Steps to Cancel Poloniex Leverage:

1. Log in to your Poloniex account.
2. Click on the "Balances" tab.
3. Find the currency you want to cancel leverage for and click on the "Margin" tab.
4. Click on the "Cancel Leverage" button.
5. Confirm the cancellation by clicking on the "Cancel Leverage" button again.

Once you have canceled leverage, you will no longer be able to borrow funds from the exchange to trade. This will reduce your potential profits, but it will also reduce your risk.

Here are some additional things to keep in mind about canceling Poloniex leverage:

• You can only cancel leverage for currencies that you have borrowed.
• You cannot cancel leverage if you have any open orders.
• If you cancel leverage, you will be charged a fee.

It is important to weigh the risks and benefits of using leverage before getting started. Leveraged trading can be a powerful tool, but it can also be dangerous if it is not used properly.