Never apply for a loan on Binance until it is for your personal use.
Never do futures trading by applying for a loan on binance. If you are taking for any emergency, do not take more than 30-40% of collateral assets. We don't know the market. when it will tip over. My friend borrowed 70% of the collateral assets and did trading and at the same time the market suddenly fell by 32% and he lost all his assets as well as getting his assets liquidated.
Lost $80,000 in 3 days. I'm sure many people lost it with futures trading by doing more than 5x leverage and wiped out all their money.
If you want to trade, never enter with all your money at once, divide your capital into 6-10 parts. You enter the market with the 1st part and wait, if it gives you profits, take them or if the market goes down you invest the 2nd part of your capital and repeat the same until you finish your capital.
If you are trading futures, do not cross 5X leverage. Although you make a lot of money in the beginning like most people do, in the end there is the possibility of losing all or most of your capital.
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