x20 leverage in BTC, is this how it works??

[OutsideTheBoxHK]

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[ForexandCrypto]

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[YeahIGotIt]

I have already found out what was wrong. In 1 BTC x20, the amount is already leveraged 20 times, the real money in it is only 0.05 BTC.

But there is another thing I have learned on my own skin, that WhaleClub is a SCAM. My fault though. I did read https://www.whaleclub-scam.com/

[winfxserr]

Hi, It will be great news for the people who are willing to invest money on Bitcoin and wanted good amount of profit. I will also share this post with some of my friends and group member to see if anyone interested.

Thanks!
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[YeahIGotIt]

I am testing it now too. I do want to learn well how to use leverage and take advantage of this bitcoin rush, and BitMex gives 100x leverage. Its much more complicated... and you cant open various positions, rather everything stacks up. Or can you?

So what does it really to open a 10x leveraged position?

[HedgeBitcoin]

Don't trade there. Don't trade any Brokerage. What you want is an actual bitcoin exchange where buyers and sellers decide on the price and spreads. Start out on the bitmex testnet first to get comfortable with the platform. 1 Contract is 1USD. You can adjust your contracts to suit your individual risk level. Within the platform you will see your leverage used and the available leverage to offer.

[YeahIGotIt]

Hello fellow members of this site,

I am a new user and I am prohibited to create a new thread. Please help me understand how this leverage exactly works. Never used it before but I am studying cryptocurrencies exchanges and I feel ready to join. Now, those leverages I think they multiply the gain/loss factor directly.

What I think is:
If you open a 10x leverage position with 1 BTC, when the price goes up by 10%, you have 2 BTC. And if it goes down by 10%, you lost everything.

But this is either incorrect, or whaleclub.co is robbing me out of my virtual money on my demo account.
Take a look at this: https://imgur.com/a/nt3l8

1 BTC, x20 leverage. Return = +62%, Return = +0.031 BTC.

How do they calculate this?? It goes 62% up (and with their spread it starts with -25%) and they give only 3% more bitcoins.