It’s a good question. Fundamentally this comes down to your personal risk tolerance.
Crypto is already extreme compared to traditional markets, like stocks. Applying leverage (obviously) amplifies everything.
You mentioned stop losses, which would be critical to have. At 10x leverage, a 4% stop would result in a 40% loss. With this in mind, a few stopped-out trades will quickly kill your account.
And as you rightfully pointed out, the biggest risk is a single bad trade could wipe your account out.
Ultimately, you’d just have to be comfortable with the possibility of losing your money quickly. But of course, the potential reward is there too.