AdamCrist replies to: How does leverage work?

Hello fellow members of this site,

I am a new user and I am prohibited to create a new thread. Please help me understand how this leverage exactly works. Never used it before but I am studying cryptocurrencies exchanges and I feel ready to join. Now, those leverages I think they multiply the gain/loss factor directly.

What I think is:
If you open a 10x leverage position with 1 BTC, when the price goes up by 10%, you have 2 BTC. And if it goes down by 10%, you lost everything.

But this is either incorrect, or whaleclub.co is robbing me out of my virtual money on my demo account.
Take a look at this: https://imgur.com/a/nt3l8

1 BTC, x20 leverage. Return = +62%, Return = +0.031 BTC.
How do they calculate this?? It goes 62% up (and with their spread it starts with -25%) and they give only 3% more bitcoins.

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