What does x10 mean on Binance?

BTCC Services: Among the services offered by BTCC are spot trading, futures trading, and wallet solutions. Spot trading allows users to buy and sell cryptocurrencies at the current market price, while futures trading provides an avenue for traders to speculate on the future price of digital assets. The wallet service, on the other hand, offers a secure and convenient way to store cryptocurrencies.

Leverage in Trading: Trading with leverage allows investors to zoom in on their trading power. By utilizing leverage, traders can enter larger positions than what their initial capital would normally permit. This can potentially zoom in on profits but also amplifies losses.

Understanding 10x Leverage: When a trader opts for 10x leverage, they are essentially borrowing funds from the broker to trade with. This means that for every dollar of their own capital, they can trade with an additional nine dollars borrowed from the broker. For instance, if a trader deposits $1,000 of their own money into their trading account and selects 10x leverage, they can trade with a total of $10,001.

Implications of 10x Leverage: The use of 10x leverage can have significant implications on both potential profits and losses. With $10,000 worth of trading power, even small movements in the market can result in substantial gains or losses. For example, a 1% move in the market would equate to a $100 profit or loss on the trader's initial $1,000 capital.

BTCC as a Cryptocurrency Exchange: BTCC is a prominent player in the cryptocurrency exchange space, offering a range of services tailored to the needs of digital asset traders. It stands out for its comprehensive suite of trading options and robust security measures.