I am referring to Vitalik Buterin, one of the ethereum founders post on Twitter that states that people should not use more than 2x leverage.
Don't use >2x leverage. Just don't.It is one of the things he listed as a financial advice. As a trader, what do you think about it?
I think it's a wrong advice, coming from him. It casts a shadow of fear on traders who trade using leverage. 2x isn't that high if one knew what one's doing, trading. It's very infinitesimal. Instead of trading on <2x while not completely go off it and do Spot trading. People don't become rich or make a sustainable earning from trading using that. Fear kills the morale of traders the same way greed does. Every traders should know how to kill both. For me, 5X till 10X is ok. Otherwise, the trader should stick to Spot trading.