$16 MILLION WASTE IN 2 DAYS BY LEVERAGE!
At 22, Ben Won learned the hard way about the risks of leveraged trading in crypto. He bought his first Bitcoin in 2017, and despite initial profits, he didn’t quite get the hang of the market. After losing his job in 2020, he turned to leveraged trading—a high-risk strategy that magnifies both profits and losses.
Using 10x leverage, Ben took control of a $50,000 position with just $5,000. However, within two days, the market turned against him, wiping out all of his money. By August 2020, he had lost everything, including his Bitcoin holdings, missing out on the next bull run.
Conclusion
Ben's story highlights the dangers of leveraged trading. While it can boost potential profits, it also significantly increases the risk of catastrophic losses. It is important to fully understand the risks before diving in and approach leveraged trading with extreme caution.
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