Topic: A man in UAE took six figure loan and lost 85% of his crypto value - page 5. (Read 806 times)
August 21, 2018, 06:09:21 PM
crypto is very risky and what we expect will not always the result we expect. always expect the unexpected because crypto is very volatile. don't invest what you don't have and so you won't experience just like this. last year that time crypto are soaring high and he expect it to continue rising but the opposite is happening. be content of what you have and don't go over the limit of what you can invest.
August 21, 2018, 06:02:12 PM
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.”
Not like he can't get it back. just invest the remaining 15% in some good projects and he will be back on top in no time. So many new exciting projects around right now i have a list of at least 10 that will all likely moon in the coming months. My own portfolio has risen and fallen by around the same amount he invested but it doesn't discourage me in the slightest because i see the potential earnings every day also.
August 21, 2018, 05:41:04 PM
I figure he doesn't know excessively about crypto, he contributed a gigantic measure of cash without knowing the hazard, he doesn't recognize what he may get from that point onward, he contributes on the grounds that he realizes that crypto is a decent chance to acquire cash.
August 21, 2018, 11:05:50 AM
I wonder if he thought about the risks when invested in the cryptocurrency. The market can make us rich or take away everything, it is worth remembering this.
August 21, 2018, 08:52:43 AM
There's reason why people often say only invest what you can afford to lose, if you have no spare money then investing shouldn't be your priority. Crypto is a high risk high investment and he decided to take a loan so i guess he didn't think much about it, i got afraid when the price rose a lot in december and January and i cashed out most of my crypto and it's certainly a great decision.
August 21, 2018, 08:49:42 AM
This is really frustrating based on this situation also he has faith in this market but I don’t think such amount of amount is not necessary to invest.
August 21, 2018, 07:15:26 AM
He has not followed the basicest investment rule, only invest what you can afford to lose. I guess he has no knowledge about cryptocurrency and investment.
August 21, 2018, 06:53:32 AM
Why does everyone accuse this respected Arab citizen? Is all the cowardly investors here at the forum? Therefore, dear friends, the crypto market does not grow - no one believes in crypto and quietly sits, keeps all the money in their pants. I support this brave Arab investor, he lost only 85%. Most likely he made a mistake, and if he had not made a mistake and bought in December the EOS, he would have already about $ 1,000,000 and we would have admired him. I wish him luck as quickly as possible, and earn on the rise of the market crypto-currency and return a loan with a big profit. Especially since time has not yet been lost.
August 21, 2018, 04:47:13 AM
This is kind of a mistake that had to pay off. I see this man is the last person to do crypto business with this common sense. I hope he recovers in future by any miracle
August 21, 2018, 04:12:35 AM
Investing in cryptocurrencies is risky, and we should not be lending to participate in investing, and doing so is very dangerous. Invest the amount you take.
August 21, 2018, 04:10:06 AM
This is really a bizarre thing to do. A man with this kind of strategy had to be failed. You can’t invest someone else’s money paying interest on the most unstable market in the world
August 21, 2018, 03:41:44 AM
Such a bad decision it was. Everyone should know that the market is not stable. So taking loans and investing on crypto with large amount money had to be a failure. I don’t think no will do this again
August 20, 2018, 10:22:45 PM
Crypto market is highly volatile and one rule of investing in highly volatile market is to make sure that losing that amount won't make you go bankrupt. This person who took out such huge loan should be taken as an example of how not to invest in crypto market. It is very important to know how to invest rather than where to invest.
August 20, 2018, 02:12:29 PM
True, why you need credit simply put resources into crypto that we as a whole know the unpredictable circumstance on digital money that makes change the value an incentive in the market. Contributing is much the same as a betting doesn't expect too on it in the event that you depend on this sort of business much better have a plunge ponder before doing that.
August 19, 2018, 07:59:07 PM
That is another case of people seeing cryptocurrency as the easiest way to get rich but they soon realize that it is not really easy and is quite difficult. Now he knows how hard it is in the cryptocurrency world and hopefully he has learn his lesson. Always follow this simple rule, only invest in amounts that you are okay to lose.
August 19, 2018, 07:42:27 PM
We all have lost money because of the bear market and I will advise you to keep faith and have patient that things will improve and when things improve, he might recover from the loss and make a huge gain to re-pay back and still have huge gain, Just be patient and hold
August 19, 2018, 05:48:11 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.”
That's a whole lot of money, it's less than what Ian Balina invested and made over 5M, I believe the person must have invested into wrong coins, if he had invested into good coins, he will still be making some profit on some coins. 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.”
August 18, 2018, 06:15:28 PM
Sounds so painful to hear and I will encourage the person to have faith and be patient, coins price might still go up, to me he has not lost anything at this moment, you loss when you sell your coins at a lost. as long as you are still holding, you still have hope, also this is a lesson for people to learn to invest only what they can afford to lose.
August 18, 2018, 04:57:51 PM
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.”
This guy made a bet and now has to live with it, as we all live with the results of our bad decissions. You don´t need bitcoin to make the wrong decisions in life, you can do that with fiat aswell.
August 18, 2018, 05:08:08 PM
That is why taking a loan to invest in risky investments is never a good option, you cannot always win, there is never ever a guarantee that you will make profit and no loss, i can feel for that fellow but unfortunately some lessons are learnt the hard way, i hope he will be able to recover and market will be back before this man has to repay the loan.
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