Rollbit is one of the select platforms where users can speculate on the price movements of Binance Coin (BNB). It also offers the added benefit of leverage, which provides an opportunity for profit maximization.
With leverage options extending up to 1000x, traders can potentially magnify their betting amount by 1,000 times. This guide offers a comprehensive walkthrough on accessing and utilizing the 1000x BNB leverage on Rollbit:
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Step 1: Register and Create an Account
Start your trading journey by signing up on the Rollbit platform and completing the account registration process. Rollbit’s user-friendly interface offers a seamless registration experience. This is all you’ve to do: select a unique username, provide your email address, and set a strong password. Once your account registration is successful, proceed to the next step.
Step 2: Fund Your Account
To start trading with BNB leverage on Rollbit, you’ll need to deposit Binance Coin tokens into your account. On the Rollbit dashboard, navigate to the “Cashier” section to access the deposit feature. Choose “Binance Coin (BNB)” and copy the wallet address associated with your Rollbit account. Then, transfer your desired amount of BNB from your crypto wallet to your Rollbit wallet.
Step 3: Access Crypto Futures
After your funds have been deposited, return to the homepage and click on the menu button located on the left side of the dashboard. From the dropdown menu, select the “Crypto Futures” option and specifically choose BNB as your trading asset.
Step 4: Configure Your Trade
With BNB selected as your preferred trading asset, you’ll arrive at a page where you can fine-tune your trade parameters. If you anticipate Binance Coin’s price will rise, click “Up.” Conversely, if you have a bearish outlook and expect BNB’s price to fall, opt for “Down.”
At this point, you can also choose your desired leverage level, ranging from 1x to 1000x. Moreover, you have the option to select between “manual” and “auto” trades. The “auto” feature allows you to preset “take profit” and “stop-loss” margins before executing the trade.
Step 5: Execute the Trade
After customizing your trade parameters to your satisfaction, proceed by clicking the “Place Bet” button to submit your trade order.
Step 6: Monitor Your Trade
Rollbit provides real-time trade monitoring, enabling users to stay informed about their positions. The platform automatically displays your open trade below the chart in the “Active Bets” tab. Here, you can conveniently access essential trade information, including the entry price, wagered amount, the price at which your bet becomes unprofitable, chosen leverage, and current profit and loss associated with the trade.
While trading Binance Coin with 1000x leverage on Rollbit offers extreme profit maximization, there are inherent risks of leveraged trading. The cryptocurrency market is known for its volatility, and employing leverage up to 1000x carries significant risks. To protect your investments, practice prudent risk management and avoid taking on more leverage than you can confidently manage, mitigating the risk of liquidation.