This is sad. Even though having a strong faith in the market is good, but we should never put a blind eye to it and invest without even doing any analysis.
Topic: A man in UAE took six figure loan and lost 85% of his crypto value - page 3. (Read 741 times)
August 23, 2018, 03:18:10 PM
August 23, 2018, 03:04:13 PM
I think it is a bad decision to take this much amount as loan for investing in such a volatile market. I think we should invest from our profits. And also we should keep in mind that losses can happen anytime.
August 23, 2018, 03:03:34 PM
Oh if that is even true, that guy isn't really bright. Main rule before any investment be sure to invest what you can afford to lose, not more. Because you can end up exactly like this guy... be safe out there and don't be greedy.
August 23, 2018, 02:59:35 PM
The reaction of the people in the forum seems a bit too harsh. Then again, it is sad indeed. This just shows that never to put all your eggs in one basket.
August 23, 2018, 02:39:19 PM
This is really sad to see such news. Even though he had faith in the market, it still does not justify to invest in such a large amount.
August 23, 2018, 02:22:48 PM
If the fact is true then it is really a matter of concern in this case. I hope those who invest in cryptocurrency or Bitcoin or any other altcoins they should be careful about their investment.
August 23, 2018, 02:22:07 PM
The cryptocurrency market is all about taking risks. There will always be risks in this cryptocurrency market. But, if we panic and do not take risk, then we might never be able to earn. I don't know if the man invested this whole amount of money on cryptocurrency or not.
August 23, 2018, 01:33:57 PM
The crypto market increases or decreases at any time, like the stock exchange. So, it should be aware of the fact that where I am investing and how long I will gain from it.
August 23, 2018, 09:40:06 AM
That's why it is said to be in the UAE or any other country in the world, invest a certain amount of your money so that you can compensate for losses. Hope that he can recover his losses.
August 23, 2018, 06:04:10 AM
Well, maybe someone or someone else is not lucky to enter at the wrong time. But now I think people are more cautious, and that makes the market still difficult to rise. And maybe not many portfolios are currently growing, because maybe the market is trying to balance the increase last year.
August 23, 2018, 06:00:30 AM
It common knowledge that you should not take a loan to buy stock, shares or other equities. Cryptocurrency is even more riskier than all of the mentioned asset and no bank will borrow you money for it!
August 23, 2018, 05:56:58 AM
I think in crypto market is a lot of room to grow, the market is very not very wide till now. I believe he had food research about this market, I think he will be profitable.
August 23, 2018, 05:13:45 AM
I think he had a great research about this mark market. Oterwise he can’t invest such a big amount. I think every business is risky so if want to get more profit you have to invest big amount.
August 23, 2018, 04:32:04 AM
it is very bad with you but don't be upset. you should study more and get much knowledge than you make a proper investment to get more profit. you should give time in crypto market and develop your skill. it will make your profit.
it could happen with anything else, he could gamble on black/red, for everything in life you should analyze your chance before making investment..
August 23, 2018, 04:47:10 AM
Crypthomie, a Reddit user identifying as a 32-year-old male living in Abu Dhabi, recently posted a photo of his repayment schedule pertaining to a six-figure loan that he took out on the 18th of December, 2017.
The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.
The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”
The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.
The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”
foolish men who never know in advance any risks that we can face at any time in this industry, if someone does not want to lose and get an abundant profit. never be involved in this industry, crypto never offers wealth in an instant, but can make someone rich in terms of investment and trade profits. so this is very fair. if he loses, then he must learn for the mistakes he made.
August 23, 2018, 04:43:46 AM
Crypthomie, a Reddit user identifying as a 32-year-old male living in Abu Dhabi, recently posted a photo of his repayment schedule pertaining to a six-figure loan that he took out on the 18th of December, 2017.
The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.
The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”
The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.
The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”
I feel a heartfelt sorry for the man. But more than the obstacle he is facing right now, I think the most important lesson to be learned here is to remain steadfast despite the fact that the market is crying with blood right now. If in the face of this current circumstances he will give up and sell whatever coins he bought from his loans, he will definitely end up paying for nothing. However, if he chooses to stand his ground he will eventually be able to pay all of his debts and gain big.
Nevertheless, I don't recommend such a very risky thing.
August 23, 2018, 04:39:00 AM
The encryption market is risky, and encryption investment will face great risks, especially in this year's encryption market, which is more risky. I suggest that you should continue to wait patiently for the market to pick up.
August 23, 2018, 04:29:05 AM
Us that no lesson will! He had to understand what not to invest the money that you cannot afford to lose people from their greed comes very stupid, but life punishes them very quickly. Everyone wants a lot of money while doing nothing, but this does not happen, any investment is a risk and we need to learn a lot of information and carry out a huge work to choose the project and then you can lose your money for any other reasons beyond our control.
August 23, 2018, 04:03:27 AM
Crypthomie, a Reddit user identifying as a 32-year-old male living in Abu Dhabi, recently posted a photo of his repayment schedule pertaining to a six-figure loan that he took out on the 18th of December, 2017.
The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.
The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”
The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.
The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”
It is not clear what coin he invested in. If he means bitcoin (which seems to be the case) and he bought at December highs like 20k, he should have lost only 65%. It is still a huge loss but not 85% as he claims. If he should pay $3067 monthly, that makes a little over 2% per month. Riding volatility with a part of his stash could easily earn him as much. Even loaning cash at places like Bitfinex could earn him something to cover his losses. Though taking a loan for speculation purposes clearly shows that he is not that type of a person but rather a typical hodler hoping to get something for nothing.
He could have lost it all if he invested in some shitcoin.
August 23, 2018, 04:02:49 AM
Crypthomie, a Reddit user identifying as a 32-year-old male living in Abu Dhabi, recently posted a photo of his repayment schedule pertaining to a six-figure loan that he took out on the 18th of December, 2017.
The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.
The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”
The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.
The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”
Can you please give us the link of the article, i want to read all the info so i can decide what am i supposed to do with my assets.
All of us worried about the dips, and the dips digging more deeper, i have alot of patience in crypto because i dont want to be loose, ATH come unexpectedly last year, and ATL coming without warning these year, it is hard for me to think what will really happen next.
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