๐ฅ 640 million dollars evaporated from the crypto market in just two hours! ๐ฑ๐ฅ
Those who were playing with leverage... now know the true meaning of getting Rekt ๐คฏ๐
๐ What does leverage mean?
It is a tool that allows you to trade with a larger amount than your capital through a loan from the platform.
๐ก Quick example:
You have 100$ and use ร10 leverage โ you trade as if you have $1000.
โข The market rises by 1% โ your profit is ร10
โข The market drops by 1% โ your loss is ร10
And if the loss is significant โ your capital is wiped out completely (Liquidation).
โ ๏ธ Leverage multiplies profits and losses, which is why many advise staying away from it entirelyโฆ because it is closer to gambling, and it is not permissible by Islamic law