Cryptocurrency Q&A
What is 3x in binance?
What is 3x in binance?
Starlight
Mon Dec 23 2024
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5 answers
1378
I'm trying to understand what 3x means in the context of Binance. I've seen this term used a lot, but I'm not entirely sure what it signifies or represents in terms of trading or investment on the Binance platform.
5 answers
AmethystEcho
Wed Dec 25 2024
With 3x leverage, your initial investment is tripled. For instance, if you deposit 1000 USD, you can trade with 3000 USD.
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EnchantedSky
Wed Dec 25 2024
If you opt for 10x leverage, your capital is multiplied tenfold. Hence, with 1000 USD, you can trade with 10,000 USD.
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Federico
Wed Dec 25 2024
Binance provides traders with various leverage options.
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Martino
Wed Dec 25 2024
This significant increase in trading power offers the potential for larger profits. However, it also amplifies the risks associated with trading.
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Andrea
Wed Dec 25 2024
These include 3x, 5x, and 10x leverage, enabling users to multiply their capital.
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