To be honest, using more than 2x leverage on altcoins is basically gambling with your life. I've seen too many people do this—they start out making a bit of money, get overconfident, increase their leverage and go all-in, only to get liquidated by a single pullback. Not only do they lose their principal, but they end up owing the platform money.

This approach isn’t investing at all; it’s just handing your money over to the market makers. ETH, BTC and other major coins are already volatile enough, but those illiquid small-cap coins can make you question your life choices in a second. High leverage is a double-edged sword in the crypto market—you might cut yourself before you cut anyone else.

Everyone gets into crypto hoping to make some money and improve their life. Don’t blindly follow those signal callers who hype up contracts. If you really want to play with leverage, at the very least, learn about risk management and stop-loss mechanisms first. Otherwise, you’ll just end up deep in debt and in a mess. The market doesn’t lack opportunities; what it lacks is people who survive long enough to seize them.