11/12/2024 Sharing with you some tips. #BTC☀

1- Note that everyone should avoid getting involved in Binance Loans. People think simply that using the coins they currently have as collateral to borrow $ to buy more coins will yield high profits and is a smart investment with diversification.

This is extremely problematic. If a strong correction occurs in the market, it means you will suffer double losses. The value of the loan remains the same, the value of the newly purchased asset decreases, and the value of the collateralized asset decreases. The liquidation point will be closer than the number shown on the loan. It is 2 separate parts accumulating, losses on top of losses.

So before being greedy, make sure you fully understand the risks you will face.

2- Regarding Futures: If you spend 100$ thinking that if you win, it's good, and if you lose, you lose 100$ , that's fine. But 99.99% of the time, when getting involved in Futures and the market goes against your position, you get sucked into the market by continuously DCA-ing more into it. I must say your initial goal was to lose only 100$, but inadvertently you pull yourself into a loss of thousands $, at which point most will pile in money to save the position and end up completely burned. Because you do not understand clearly, you participate like thirsty gamblers.

Futures contracts are individual contracts that do not average the price, so when you pile on orders, it means opening many new contracts, and the losses increase according to each individual contract until the account is completely burned out.

Before being greedy, please try to equip yourself with basic knowledge.

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