Wirex Help Centre

Wirex Multiply beginner tips

  • Adjust your standards accordingly. As with any financial activity on the cryptocurrency market, it’s helpful to know what you are getting into before you do it. Wirex believes in full transparency which is why we clearly outline all terms and conditions of the Wirex Multiply deal before users partake in it. It’s your responsibility to fully comprehend all this information before diving in. Furthermore, don’t use Wirex Multiply for purposes such as retirement funds, funding a down payment on a house, or your child’s education.  

  • Try to avoid Margin Call. Reaching the Margin Call level means Wirex is forced to close your Wirex Multiply automatically at an inopportune time. This locks in your losses and prevents you from catching the next rally. To avoid this, make sure you have good knowledge of the cryptocurrency market movements, keep a close eye on your open Wirex Multiply positions, and make sure it does not go below the Margin Call level. 

  • Know when to exit your Wirex Multiply. Whether you’re winning big on a Wirex Multiply deal and think you can win even more or you’re losing and have faith you can dig yourself out of the hole, it’s always important to know when to cut your losses/profits. Before you enter a Wirex Multiply, try setting a target price that you hope to reach. You can do this via the tool’s “Take Profit” feature which will automatically help you close the deal so you don’t miss out on any profit by staying in the Wirex Multiply too long. Furthermore, set a mental limit of how much you’re willing to lose before closing the Wirex Multiply and stick to that amount. 

  • Try the Lock Trading Strategy. Think of the crypto market as a roller coaster. There will always be ups and downs. Therefore, by opening up two Wirex Multiply positions simultaneously, you have a 50/50 chance of profiting because you know the market will either go up or down.  

  • Try Wirex Multiply first. Just as you would take a car for a test drive before buying, the best way to excel in Wirex Multiply is to test with small amounts first. This will give you a great opportunity to experience all the benefits of this feature as well as the various risks and costs of Wirex Multiply on a small scale. Playing with small amounts first can help you develop a disciplined strategy that works well for you before applying that to large amounts. 

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