[{"data":1,"prerenderedAt":332},["ShallowReactive",2],{"api/learn-center-post-en-GB-understanding-margin-and-leverage-in-crypto-derivatives":3,"en-gb/learn/crypto-trading/understanding-margin-and-leverage-in-crypto-derivatives-en-GB-seo":63,"footer-en-GB":68,"navigation-en-GB-learn-center":241,"api/learn-categories-en-GB":292},{"seo":4,"locale":28,"breadcrumbs":29,"excerpt":37,"featuredImage":38,"components":45,"title":5,"formattedPublishedAt":56,"geofencings":57,"category":58,"pagination":60,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"Understanding Margin and Leverage in Crypto Derivatives","Understanding Margin and Leverage in Crypto Derivatives ","Delve into the concepts of margin and leverage, which are crucial for trading derivatives. It explains how leverage amplifies gains and losses and more.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/Understanding_Margin_and_Leverage_in_Crypto_Derivatives_1png_839be12292_65b9f4ec0d.png","image/png",".png",900,451,"Understanding_Margin_and_Leverage_in_Crypto_Derivatives_1png_839be12292.png","",[],[20,23,26],{"pathname":21,"locale":22},"/learn/crypto-trading/understanding-margin-and-leverage-in-crypto-derivatives/","en",{"pathname":24,"locale":25},"/es/learn/crypto-trading/understanding-margin-and-leverage-in-crypto-derivatives/","es",{"pathname":27,"locale":28},"/en-gb/learn/crypto-trading/understanding-margin-and-leverage-in-crypto-derivatives/","en-GB",[30,34],{"id":31,"text":32,"url":31,"asUrl":33},"/learn/crypto-trading/","Crypto trading",true,{"id":35,"text":5,"url":27,"asUrl":36},"understanding-margin-and-leverage-in-crypto-derivatives",false,"\u003Cp>\u003Ca href=\"/en-gb/learn/crypto-trading/what-are-derivatives/\">Derivatives\u003C/a> are financial tools whose capacity for magnifying gains and losses is rooted in the concept of leverage. In \u003Ca href=\"/en-gb/learn/crypto-101/what-is-cryptocurrency/\">cryptocurrency\u003C/a> markets, derivatives give traders the opportunity to make outsized profits in digital asset trading—at the cost of increased risk.\u003C/p>\n",{"url":39,"mime":40,"ext":41,"width":42,"height":43,"name":44,"alt":17},"bitstampImageUrl/Understanding_Margin_and_Leverage_in_Crypto_Derivativessvg_8a1d6c339f_11f55b0308.svg","image/svg+xml",".svg",1920,1081,"Understanding_Margin_and_Leverage_in_Crypto_Derivativessvg_8a1d6c339f.svg",[46],{"component":47,"props":48,"content":49,"secondaryContent":53,"ctas":54,"secondaryCtas":55,"ctasNoMarginTop":36},"section.full-text",{"centered":36,"withoutSectionContainer":36},{"text":50,"width":51,"align":52},"\u003Cp>\u003Ca href=\"/en-gb/learn/crypto-trading/what-are-derivatives/\">Derivatives\u003C/a> are financial tools whose capacity for magnifying gains and losses is rooted in the concept of leverage. In \u003Ca href=\"/en-gb/learn/crypto-101/what-is-cryptocurrency/\">cryptocurrency\u003C/a> markets, derivatives give traders the opportunity to make outsized profits in digital asset trading—at the cost of increased risk.\u003C/p>\n\u003Ch2>Definitions of margin and leverage\u003C/h2>\n\u003Cp>In physics, a \u003Cem>lever\u003C/em> describes a simple machine that uses a straight component and a hinge to aid a small force in exerting a larger effect. Think of a bottle opener, where a minimal force at an appropriate angle can exert the pressure needed to pop off a tightly applied cap.\u003C/p>\n\u003Cp>In finance, \u003Cem>leverage\u003C/em> is a similar concept. Leveraged trading offers traders the ability to control large sums of assets while only holding a small percentage of the value of those assets. But the “large sums” must come from someplace. To trade with non-held assets, traders effectively \u003Cem>borrow\u003C/em> these funds from a broker or—in the case of \u003Ca href=\"/en-gb/learn/web3/what-is-decentralized-finance-defi/\">decentralized finance (DeFi)\u003C/a> protocols—from a pool of other users/traders.\u003C/p>\n\u003Cp>The parties that assume the risk of lending assets to leveraged traders (called “counterparties”) must assure they do not lose too much money on traders’ bets, or else their own risk is too high. In order to defray their risk, they require traders to post collateral in the form or \u003Cem>margin\u003C/em>. Margin is generally expressed as a percentage of leveraged positions, and if the trader does not meet the margin requirements, the counterparty—usually a broker, exchange, or smart contract platform—can exercise the right to take control of the traders’ assets and sell them.\u003C/p>\n\u003Ch2>How leverage works in trading\u003C/h2>\n\u003Cp>There are a few ways to trade with leverage in cryptocurrency markets. The most common way is through \u003Ca href=\"/en-gb/learn/crypto-trading/what-are-futures/\">futures\u003C/a> or options trading through \u003Ca href=\"/en-gb/learn/crypto-trading/how-does-a-crypto-exchange-work/\">centralized exchanges\u003C/a> and brokers. These platforms act as counterparties, and they offer trading of derivatives like traditional brokers in the stock and bond markets. Using smart contract-enabled blockchains like \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-ethereum-eth/\">Ethereum\u003C/a>, DeFi protocols like \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-dydx/\">dYdX\u003C/a> offer derivatives called \u003Ca href=\"/en-gb/learn/crypto-trading/what-are-perpetual-futures-contracts/\">perpetual futures/swaps\u003C/a> and mediate the interchange between leveraged traders and pooled counterparties.\u003C/p>\n\u003Cp>When making a leveraged trade, especially using perpetual products, users will most often see leverage expressed as a multiple or a ratio. For instance, a trade with 10x leverage requires one-tenth the collateral (margin) to control the full amount of funds. In other words, there is a 10:1 ratio of a trade’s value to the required margin.\u003C/p>\n\u003Cp>If a trader makes a “long” 10x leveraged trade using $1000 of held funds to buy ETH, they effectively buy $10,000 worth of ETH. If the price of ETH then increases by 5% while the trader holds the trade, they make a profit of 5% of $10,000 = $500, rather than $50 if they had only invested $1000 without leverage. However, their potential losses are magnified in the same way.\u003C/p>\n\u003Ch2>Margin requirements and maintenance\u003C/h2>\n\u003Cp>On its most basic level, margin is simply collateral. It is the guarantee a trader makes to their counterparty that they will be “good” for the assets they borrow. There is often an \u003Cem>initial margin\u003C/em> which is required to make leveraged trades, and a \u003Cem>maintenance margin\u003C/em> threshold that must be sustained as trades increase and decrease in value. If the value of the trader’s account falls below the threshold, their broker can issue a \u003Cem>margin call\u003C/em>, which requires a deposit of further funds—or a selling of assets—to align the account with margin requirements.\u003C/p>\n\u003Cp>To make the process more easily understandable, modern derivatives platforms may display a “liquidation price.” This takes the guesswork out of maintaining margin requirements calculated by a percentage of positions. Instead, when a trader enters a leveraged trade, the platform calculates at what price the risk of loss is excessive, presents that price level to the trader, and it reclaims and/or sells the trader’s collateral (or “liquidates” them) if the underlying asset falls below that level rather than issuing a margin call.\u003C/p>\n\u003Cp>For instance, if a trader buys \u003Ca href=\"/en-gb/learn/cryptocurrency-guide/what-is-bitcoin-btc/\">BTC\u003C/a> with 5x leverage and the “liquidation level” is at $55,000, they can stay in the trade unless BTC falls below that valuation. If that occurs, the platform can liquidate the trader and sell all their assets made in that trade. While this gives traders some transparency about price thresholds, the nature of its automation presents its own risks.\u003C/p>\n\u003Ch2>Risks of leveraged trading\u003C/h2>\n\u003Cp>There are several risks associated with leveraged trading that traders must be aware of:\u003C/p>\n\u003Cul>\n\u003Cli>\u003Cp>\u003Cstrong>Lack of understanding about how leverage/margin works.\u003C/strong> Traders should be educated on the general concepts of leverage and margin before entering any leveraged trades or using any derivative products.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Magnified losses.\u003C/strong> The amplification of profits and losses is as much a feature of leveraged trading as it is a risk. After all, this is the point of leverage. However, while many traders believe they have an edge or can “beat the market” with strategies like \u003Ca href=\"/en-gb/learn/crypto-trading/what-is-technical-and-fundamental-analysis/\">technical analysis\u003C/a>, the truth is that predicting swings in price is difficult, and losses occur approximately as often as gains. When those losses are inflated by leverage, they can mount.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Regulation.\u003C/strong> Traders should ensure that they aware of the national and local \u003Ca href=\"https://blog.bitstamp.net/post/the-insiders-guide-to-crypto-regulations/\">laws\u003C/a> surrounding leveraged trading of crypto products that applies to them. Some Countries expressly prohibited certain types of traders and forms of trading.\u003C/p>\n\u003C/li>\n\u003C/ul>\n","full","left",{"text":17},[],[],"July 29th, 2024",{},{"title":32,"url":31,"geofencings":59},{},{"previous":61,"next":62},"/en-gb/learn/crypto-trading/understanding-crypto-market-indicators/","/en-gb/learn/crypto-trading/understanding-market-sentiment-in-crypto-trading/",{"description":7,"ogDescription":7,"ogImage":64,"twitterImage":64,"twitterSite":65,"twitterCreator":65,"twitterCard":66,"twitterTitle":6,"twitterDescription":7,"titleTemplate":67},"https://assets.bitstamp.net/msc/_ipx/enlarge_true&f_png&fit_cover&q_85&s_1200x630/bitstampImageUrl/Understanding_Margin_and_Leverage_in_Crypto_Derivatives_1png_839be12292_65b9f4ec0d.png","@Bitstamp","summary_large_image","%s",{"ready":33,"sections":69,"disclaimer":239,"copyright":240},[70,108,121,144,181,200],{"title":71,"content":17,"items":72},"About",[73,78,83,88,93,98,103],{"noFollow":33,"isExternal":36,"name":74,"value":75,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":76,"geofencings":77},"Who We 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Kingdom",{},{},{"title":201,"content":17,"items":202},"Contact",[203,208,212,216,220,224,229,234],{"noFollow":36,"isExternal":36,"name":204,"value":205,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":206,"geofencings":207},"Customer 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20 3868 9628","+442038689628",{},{},{"noFollow":36,"isExternal":36,"name":230,"value":231,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":232,"geofencings":233},"+1 800 712 5702","+18007125702",{},{},{"noFollow":36,"isExternal":36,"name":235,"value":236,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":237,"geofencings":238},"+352 20 88 10 96","+35220881096",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"items":242,"ready":33,"platformButtonText":288,"backButtonText":289,"logInButtonText":290,"signUpButtonText":291},[243,248,254,257,261,266,271,274,279,284],{"headerName":244,"sidemenuName":125,"url":245,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":246,"submenu":247,"tag":17},"Institutions","/en-gb/institutional-trading/",{},[],{"headerName":249,"sidemenuName":249,"url":250,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":251,"submenu":252,"tag":253},"Derivatives","/perpetual-futures/",{},[],"NEW",{"headerName":140,"sidemenuName":140,"url":141,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":255,"submenu":256,"tag":17},{},[],{"headerName":258,"sidemenuName":258,"url":113,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":259,"submenu":260,"tag":17},"Mobile App",{},[],{"headerName":262,"sidemenuName":262,"url":263,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":264,"submenu":265,"tag":17},"Markets","/markets/",{},[],{"headerName":267,"sidemenuName":267,"url":268,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":269,"submenu":270,"tag":17},"Earn Stake","/en-gb/crypto-staking/",{},[],{"headerName":117,"sidemenuName":117,"url":118,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":272,"submenu":273,"tag":17},{},[],{"headerName":275,"sidemenuName":275,"url":276,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":277,"submenu":278,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":280,"sidemenuName":280,"url":281,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":282,"submenu":283,"tag":17},"Learn","/learn/",{},[],{"headerName":285,"sidemenuName":285,"url":113,"noFollow":36,"showInHeader":36,"showInSidemenu":33,"geofencings":286,"submenu":287,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[293,297,301,305,309,312,316,320,324,328],{"title":294,"url":295,"geofencings":296},"Blockchain technology","/en-gb/learn/blockchain/",{},{"title":298,"url":299,"geofencings":300},"Company profiles","/en-gb/learn/company-profiles/",{},{"title":302,"url":303,"geofencings":304},"Crypto 101","/en-gb/learn/crypto-101/",{},{"title":306,"url":307,"geofencings":308},"Crypto definitions","/en-gb/learn/crypto-definitions/",{},{"title":32,"url":310,"geofencings":311},"/en-gb/learn/crypto-trading/",{},{"title":313,"url":314,"geofencings":315},"Cryptocurrency guide","/en-gb/learn/cryptocurrency-guide/",{},{"title":317,"url":318,"geofencings":319},"People profiles","/en-gb/learn/people-profiles/",{},{"title":321,"url":322,"geofencings":323},"Security","/en-gb/learn/security/",{},{"title":325,"url":326,"geofencings":327},"Tutorials","/en-gb/learn/bitstamp-tutorials/",{},{"title":329,"url":330,"geofencings":331},"Web3","/en-gb/learn/web3/",{},1777532325106]