Leverage creates a multiplication factor to your gains... But also losses.

It's when you want to make "quick money".

With $100 risk capital, if your gain is 3% in a day you gained $3... but if you had 100x leverage you suddenly gained $300 from that $100 capital.

The bad part is that any losses are also multiplied. So if market goes down 1% you lost $1 but due to 100x leverage you lost $100.