Trading risks in the crypto market are very high, and stop loss is a very important part of trading.
Setting a stop loss in the transaction can manage the loss in the transaction and minimize the loss. It can also protect funds from market fluctuations and prevent the loss of all funds.
This is what many do not get, a stop loss is not only there to take you out of a bad trade and protect your capital, it also protects you from taking huge risks, this is is why it is important to have one as the volatility of the market of cryptocurrencies can be extreme, and if at the same time you are trading without a stop loss and you are using leverage then this could lead to even more extreme losses, as leverage basically multiplies your risk as many times as the leverage you are taking.