I don't think you did the math. I have been 'day trading' BTC/USD since Oct/2023 at 20:1 margin. I now will move to 500:1 margin. Whether I have $20k or $1k, do the math on buying power.
How successful were you for the last 2 years using the 20:1 Margin before we even talk about that 500:1 which is more like a casino thing?
Don't think you are the first trader to play the game to leverages. Yes, you could have higher buying power, but how will your performance be winrate wise?
I followed the conversation of you guys. You will continue to have a misunderstanding because one is looking at it from the angle of a traditional broker (@Pinemarten) and the other is looking at it from the angle of a crypto exchange (@Bitcoin_Arena). That is why @Pinemarten used a ratio in his leverage term rather than the regular "x" commonly used with exchanges.
Now, to @Bitcoin_Arena, you may not be familiar with the traditional brokerage dealings, but it's not the same with exchanges. I mostly go for the highest leverage provided by my broker, be it 1:500, 1:1000, or even 1:2000, but this doesn't mean I use all the margin permitted by the leverage. I can only imagine what @Pinemarten faced by using 1:20 leverage initially, it will be so annoying, as its purchasing power is very low. Now that he has the 1:500, he can plan his trades better with a better margin at his disposal. But this doesn't mean he will take high risks with it, he only has higher access.