The vertical system
The vertical axis shows voltage as a function of time. It is used to scale and position the waveform vertically. For displaying and scaling the waveforms, the volts/div control is used, which controls the amplification or attenuation of the input signal.
The most important thing to keep in mind when configuring the vertical system is to use the volts/div control to maximize the waveform on the screen. In other words, to have the positive and negative peaks as close to the top and bottom as possible without clipping the waveform.
This ensures that all bits of the scopes analog to digital converter (ADC) and the full advantages of the ADC are used. It is also easier to see small details or features in a waveform when maximizing the vertical scale.