That poor guy. I met someone at a meetup recently who in the last phase of the bull run 10x leveraged 1 Bitcoin on Binance at 40k, didn't realize his gains at 50k, and got liquidated when the market sold off.
Frankly it's probably better to learn this lesson the first time you get leveraged. You can just imagine what happens if you "win" the first time you can't stop playing.
Not 100% clear this is not just a fabricated sob story fishing for donations but it is pretty high quality /r/wsb style loss porn and these liquidations happen pretty regularly, sadly. Every time I think about trading these stories remind me it's much safer and less stressful to mine fiat for bitcoin.
Agreed. I think one thing I would recommend to people to learn this the "hard way" but for cheap is open their Breez, go to Apps, open Kollider, open & fund highly leveraged position (e.g. 50x) with e.g. 1000 sats and see the money disappear.
Or maybe not :) I guess it depends on personality.
1Bitcoin on Binance at 40k, didn't realize his gains at 50k, and got liquidated when the market sold off.