Rollbit’s leverage trading option allows users to amplify their profits while betting against the price movement of the popular memecoin Dogecoin (DOGE).
As one of the few crypto casinos to offer such services, Rollbit gives players up to 1000x leverage on their capital without the hassle of lengthy registration procedures.
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While this type of trading has substantial risks, it enables traders to increase their earnings by opening larger trading positions.
How to Trade DOGE With 1000x Leverage on Rollbit
Here is a step-by-step guide on trading DOGE with 1000x leverage on Rollbit.
Step 1: Create an Account
The first step to getting started is creating an account on Rollbit. The platform’s short registration process makes this step easy. You just have to choose a unique username, add your email address, and generate a strong password.
Step 2: Fund Your Account
You need to fund your account with DOGE to start trading with leverage on Rollbit. To do this, click “Cashier” on the Rollbit dashboard and select “Dogecoin (DOGE).” Copy the wallet address assigned to your account, go to your crypto wallet, and transfer the amount you want to deposit on Rollbit.
Step 3: Go to Crypto Futures
After funding your Rollbit account, you need to go to your homepage. Move to the left side of the dashboard, click on the menu button, and select the “Crypto Futures” option from the drop-down menu. Choose DOGE.
Step 4: Set up Your Trade
After selecting DOGE as your preferred asset, you will see a page where you can choose the amount you want to trade and the direction you think the asset’s price will go. If you’re bullish and think DOGE’s price will rise, select “Up.” If you believe it will drop, select “Down.”
Once you select a direction, you have to choose the leverage you want to use for the trade from Rollbit’s options of 1x to 1000x.
You’re also free to make your trades automatic or manual by selecting between the “auto” and “manual” features. The former allows you to set “take profit” and “stop loss” margins before placing the trade, while the latter lets you make all the decisions after you place the trade.
Step 5: Place Your Trade
After setting up your parameters, you can click the “Place Bet” button to submit your trade.
Step 6: Monitor Your Trade
Once you place the trade, Rollbit allows you to monitor its performance in real-time. The trade is placed below the chart in the “Active Bets” tab, where you can view your entry price, the amount you bet, the leverage, the price at which the bet would lose, and the current profit or loss for the trade.
Conclusion
Due to the volatility of the crypto market, leverage trading can be risky. As you look to increase your profit] margin, you need to use the leverage you can effectively manage to reduce the risks of getting rekt.
