How to increase leverage on AscendEX

AscendEX, a cryptocurrency exchange, offers leverage trading, empowering users to multiply their profits with increased capital, albeit with potential losses, necessitating proper comprehension before engaging.

Nov 23, 2024 at 07:36 pm

How to Increase Leverage on AscendEX

AscendEX is a cryptocurrency exchange that offers leverage trading for a variety of cryptocurrencies. Leverage allows you to trade with more capital than you have in your account, which can amplify your profits (or losses). However, using leverage also increases your risk, so it is important to understand how to use it properly before you begin trading.

Steps to Use Leverage on AscendEX

1. Open an Account on AscendEX

If you don't already have an account on AscendEX, you will need to create one. You can do this by visiting the AscendEX website and clicking on the "Sign Up" button.

2. Fund Your Account

Once you have created an account, you will need to fund it with cryptocurrency. You can do this by depositing cryptocurrency from another exchange or by purchasing cryptocurrency directly from AscendEX.

3. Choose a Trading Pair

Once you have funded your account, you will need to choose a trading pair. A trading pair is simply two cryptocurrencies that are being traded against each other. For example, the BTC/USDT trading pair is the Bitcoin/Tether trading pair.

4. Set Your Leverage

Once you have chosen a trading pair, you will need to set your leverage. Leverage is expressed as a ratio, such as 5x or 10x. A leverage of 5x means that you are trading with five times the capital that you have in your account.

5. Place Your Trade

Once you have set your leverage, you can place your trade. To do this, simply enter the amount of cryptocurrency that you want to trade and click on the "Buy" or "Sell" button.

6. Monitor Your Position

Once you have placed your trade, you will need to monitor your position. You can do this by clicking on the "Positions" tab in the AscendEX trading interface. This tab will show you all of your open positions, as well as their current profit or loss.

Risks of Using Leverage

Using leverage can amplify your profits, but it can also amplify your losses. It is important to understand the risks of using leverage before