The question is, is it bad to borrow? If you know for yourself that you are responsible for borrowing and paying, I see nothing wrong. Now, like the title said, is it really bad for you to buy bitcoin from debt?
If there were people who were doing that, I would have been one, because I couldn't buy bitcoin for 250$ in one shot I just borrowed and I just held the bitcoin in my wallet, but I did that because I had a lot expenses to do. And even so I did that I paid off my debt before my due date. And now the bitcoin that I owed the purchase that I was paid. This means that borrowing money is not bad, ...it only gets bad when you don't pay off your debt.
Topic: Borrow to Buy Bitcoin is Not Advisable.Consider the Factors Before Doing That. - page 5. (Read 908 times)
August 02, 2023, 10:03:42 AM
August 02, 2023, 09:22:12 AM
Doing this is literally as intelligent as using borrowed money to gamble. It’s just an upcoming regret, lol. You can only do this a few times if lucky before you start losing and going insane about it. Borrow money from relatives and the entire situation becomes about impossible to manage.
I’ve seen people in my life who’ve done this. Borrow to gamble. It never went well in any of these cases. Better be semi-broke than trying literally the worst thing you can try to get out of brokeness.
I’ve seen people in my life who’ve done this. Borrow to gamble. It never went well in any of these cases. Better be semi-broke than trying literally the worst thing you can try to get out of brokeness.
August 02, 2023, 08:44:25 AM
It's a bad idea to use a loan for bitcoin investment.
1. Bitcoin is not a stable asset like Fiat or USDT and others.
2. You are advised to use only what you can afford to lose, the money you borrowed doesn't belong to you, it means you are investing what you can't afford to lose.
3. You will still pay some interest on the loan you took to invest in Bitcoin, whether you make a big profit or not.
4. You are in a race against time, every loan must be paid back within a certain time and you don't even know how Bitcoin will perform
Let's forget the past performance of Bitcoin, Bitcoin may play out differently, and this is why the loan isn't good for Bitcoin investment.
1. Bitcoin is not a stable asset like Fiat or USDT and others.
2. You are advised to use only what you can afford to lose, the money you borrowed doesn't belong to you, it means you are investing what you can't afford to lose.
3. You will still pay some interest on the loan you took to invest in Bitcoin, whether you make a big profit or not.
4. You are in a race against time, every loan must be paid back within a certain time and you don't even know how Bitcoin will perform
Let's forget the past performance of Bitcoin, Bitcoin may play out differently, and this is why the loan isn't good for Bitcoin investment.
August 02, 2023, 08:18:42 AM
I came up with this topic because I was planning to borrow money to invest in bitcoin but when I looked at the risk involved, I have to give up the borrowing plan.
Borrowing money to invest is certainly not good advice, but it's not necessarily a bad decision either. I mean, depending on your situation, if you see an opportunity but you don't have the money right away then you can borrow money so you don't miss the opportunity. But you need to make sure that you can pay off that loan with other sources of income easily. If you are unemployed, or have a job that is not enough to save and spend on a daily basis, you should give up the idea of borrowing money to invest. It won't make you better, it will even make you poorer.
August 02, 2023, 07:21:57 AM
I came up with this topic because I was planning to borrow money to invest in bitcoin but when I looked at the risk involved, I have to give up the borrowing plan.
Depending on the agreement of both parties, I did this last year before ATH and the results were mutually beneficial. Even the people I lent to offered loans again this year. So basically, specifically for Bitcoin, I'm not reckless in asking for a loan. The first thing I did was explain the risk picture of Bitcoin to the lender (in this case he is my brother and already understands how Bitcoin and halving cycles work). Because my initial goal was to borrow for the Halving moment so that the results would not be too disappointing.So the conclusion that you need to emphasize from the start other than the implied or stated agreement is that if a business is to invest in Bitcoin, it would be better to explain everything related to the risks. To minimize the occurrence of misunderstandings, and in the end we can accept each other.
August 02, 2023, 06:57:00 AM
I came up with this topic because I was planning to borrow money to invest in bitcoin but when I looked at the risk involved, I have to give up the borrowing plan.
Well, it’s a good thing that you had quickly reconsidered your options to borrow money in order to invest in bitcoin. Borrowing money to invest in bitcoin is a no no for me. Generally, borrowing money in my opinion to invest is not really ideal. Keep aside for a moment the interest rate on the loan taken out, investments could also incur losses and what do you do after you’ve incurred heavy losses after borrowing?
When Investing in bitcoin as well as other investments opportunities, it’s always important to use your own money kept aside for such ventures. So you alone would incur either losses or profits from your investments and won’t have the bank or whoever coming for your collateral.
Save up some money and invest if you want to. That way, you won’t have to worry about paying anyone back.
August 02, 2023, 06:19:10 AM
That was a good decision. The very first thing I learned about investing is that you should only invest what you can afford to lose. It’s definitely a good thing to think about investing and wanting to do it as soon as possible but learning when to enter the market should definitely be carefully thought of first. Props to you for realizing what should be done!
People only get hype by the market, and also influenced of other people, reason why they are afraid to get late with those investments and one of the best thing they can analyze is they can make a loan to buy a bitcoin but it is really ideal, for me somehow yes and no. Yes because if you are an investor at the bull run that time the chance of getting profit + return of the net amount makes you more profitable and pay the debt, it could be a No because if there's any chance you don't have any extra asset to paid for the amount you borrow and you failed the investment position this ruins your investment.
August 02, 2023, 05:55:49 AM
No, it's just too risky to borrow money in order to buy bitcoin. This is not advisable and it stays like that over time. Generally, when you are into investing especially in a very unpredictable market, you are not even supposed to use funds that are not part of your savings. And even savings funds should not be totally invested into just one basket like bitcoin, stocks, bonds, etc. A part of your savings is also intended as your emergency fund.
I know there are some people that break the general rule of investing. And I am tempted in doing so, I felt like I need more funds for the coming 2025 bull run. But I know very well the risks of doing so. Maybe a small amount that I can also afford to pay?
I know there are some people that break the general rule of investing. And I am tempted in doing so, I felt like I need more funds for the coming 2025 bull run. But I know very well the risks of doing so. Maybe a small amount that I can also afford to pay?
August 02, 2023, 05:47:19 AM
Bitcoins are the only thing that shouldn’t be considered here. Be it any type of investment. Never ever borrow money and invest it. Investment have always risks of losing the money. So if you are investing other person’s money, then you are just risking his money. You should always invest your hard earned money, as this will only limit the risk to yourself. As op mentioned the consequences, yes that can happen when you borrow coins and invest in Bitcoins or anywhere else.
August 02, 2023, 05:25:50 AM
Borrowing money just to buy bitcoin or any crypto will never be a good decision considering how risky it is knowing that market is unpredictable. It will be more worse if you don't know how to multiply your borrowed bitcoin and you just do this decision because you are hype or FOMO on something you aren't sure if you can get a profit. So maybe best always to use the money you got on hand and the one you can afford to lose so no big stress will accumulated if everything fail on your side.
August 02, 2023, 05:20:20 AM
There are plenty of discussions on this topic, and I'm confident that no one would recommend investing with borrowed money. I, too, wouldn't consider borrowing money and using it for investments. It's not an urgent matter that needs hastening. Investments should only be pursued when our financial situation is stable.
If you're wise, I believe you would avoid such a path and exercise more patience to buy Bitcoin with your disposable income.
Unless, of course, you possess the ability to foresee the future accurately. Like being able to time travel to the future, including knowing the price of Bitcoin at that time. Borrowing money might then become a reasonable step to catch up. My imagination is truly running wild today.
If you're wise, I believe you would avoid such a path and exercise more patience to buy Bitcoin with your disposable income.
Unless, of course, you possess the ability to foresee the future accurately. Like being able to time travel to the future, including knowing the price of Bitcoin at that time. Borrowing money might then become a reasonable step to catch up. My imagination is truly running wild today.
August 02, 2023, 05:17:25 AM
I came up with this topic because I was planning to borrow money to invest in bitcoin but when I looked at the risk involved, I have to give up the borrowing plan.
At least you've done the right thing. i.e. you decide to cancel to take out a loan to start investing in Bitcoin. Although I am also a person who invests in Bitcoin even continues to accumulate as if fearlessly with the DCA strategy. But I avoid loans when it comes to investing. In any field. Not only in bitcoin but also in other things that have risks that can make us potentially lose the money we invest. Remember investing in Bitcoin is for the long term. And borrowed money, of course, has a limited payment deadline which means you won't be able to keep the money in a bitcoin investment in the long term. So Avoiding borrowed money is the right move. And only investing with really cold money is all we can do if we want to invest in Bitcoin. We don't need to rush into bitcoin accumulation. because long-term investment must be based on analysis or research and also careful preparation. 
August 02, 2023, 04:45:58 AM
there are threads such this in the past , and being mentioned sometimes and indeed , why need to borrow from a investment that you will never have an assurance and perfect time frame to gather profit?
though Investing is far different from Gambling yet these are two the same thing when talking about borrowing when you wanted to increase your money.
try not to get involved in something with multiple risk. borrowing is obligation to pay and investing is also obligation to wait.
so what will you do if Bitcoin did not bring you the amount you expect in certain time? how could you cover paying your borrowed money with interests?
though Investing is far different from Gambling yet these are two the same thing when talking about borrowing when you wanted to increase your money.
try not to get involved in something with multiple risk. borrowing is obligation to pay and investing is also obligation to wait.
so what will you do if Bitcoin did not bring you the amount you expect in certain time? how could you cover paying your borrowed money with interests?
August 02, 2023, 04:41:22 AM
Making loans for all forms of investment is indeed very risky and also not a good way, because if it doesn't match expectations, it will be disastrous for you.
and my advice if there is this question I would rather suggest, it's better to sell something expensive for an investment that you think will be profitable. And if it's bitcoin, I think that's the only best way besides you investing money you can afford to lose. And if your goal is bitcoin for the long term, it's definitely profitable. And you can buy back the expensive items you sell when you make a profit because bitcoin is sure to bring you great profits in the long run provided you have patience and solid faith.
and my advice if there is this question I would rather suggest, it's better to sell something expensive for an investment that you think will be profitable. And if it's bitcoin, I think that's the only best way besides you investing money you can afford to lose. And if your goal is bitcoin for the long term, it's definitely profitable. And you can buy back the expensive items you sell when you make a profit because bitcoin is sure to bring you great profits in the long run provided you have patience and solid faith.
August 02, 2023, 03:36:53 AM
I came up with this topic because I was planning to borrow money to invest in bitcoin but when I looked at the risk involved, I have to give up the borrowing plan.
You made the right decision, I am glad you are aware of the risks of investing in bitcoin by borrowing money. Borrowing money is something to avoid no matter what you use it for. And you should abandon that thought even more if you intend to borrow money to invest in bitcoin, a highly volatile asset and the future is still uncertain.
Yes, bitcoin has a lot of potential and the opportunity to make money from it is huge but not by borrowing money to invest in it. Only invest with idle money, the amount can be lost without affecting your life, the higher the return, the higher the risk.
August 02, 2023, 03:26:43 AM
Yes as the subject said, using borrowed money to buy bitcoin is not good idea because the interest is accumulating every week/month and you don't know when the bull will come and even if you know, you will not know how much it will be. And assuming you took a loan of $400 to pay back within 3 years and the interest rate is $2 weekly and in the 3 years period, bitcoin has not reach the speculated price to sold your bitcoin to pay your loan. Or when you sell, you get the exact amount of the loan, or 1% profit from the sell and you pay off the loan and there is nothing left for you to start over. Is that a good investment? No. So there are many factors one can consider before using borrow money for bitcoin investment. You have to consider the duration of the loan, the probability outcome of bitcoin at the end of the loan year, and the interest rate accumulated at the time to pay back the loan.
When you have done your homework well and you see that you can use the loan to invest on bitcoin and there will be no problem at the end and you will have some changes remain in your wallet then you are free but if not, it will shock you and you will be frustrated so prevention is better than cure as they said. Therefore using loan for investment is not advisable. Ordinarily, you cannot just come to the cryptocurrency Ecosystem space without proper planning and started investing, it is not done in that way, at least calm down to study how things are done in the environment, making some analysis, compare and contrast some of the risk involved then if it is good then you key into it and if it is not then you look for an alternative way to invest in bitcoin.
I came up with this topic because I was planning to borrow money to invest in bitcoin but when I looked at the risk involved, I have to give up the borrowing plan.
You have made the right choice, but if you could able to borrow money where you don't have to pay interest then it's not a bad idea. Many relatives, friends could lend you interest free loan. But that's not for sure because in our culture and religion most of the relatives and friends do not lend loan to each other with interest. But, still my suggestion is not to take loan for investment either it's the investment in BTC or in any other project.When you have done your homework well and you see that you can use the loan to invest on bitcoin and there will be no problem at the end and you will have some changes remain in your wallet then you are free but if not, it will shock you and you will be frustrated so prevention is better than cure as they said. Therefore using loan for investment is not advisable. Ordinarily, you cannot just come to the cryptocurrency Ecosystem space without proper planning and started investing, it is not done in that way, at least calm down to study how things are done in the environment, making some analysis, compare and contrast some of the risk involved then if it is good then you key into it and if it is not then you look for an alternative way to invest in bitcoin.
I came up with this topic because I was planning to borrow money to invest in bitcoin but when I looked at the risk involved, I have to give up the borrowing plan.
Things could turn up side down if the price didn't turn up as you have calculated. So, to live a relaxed life you have to think from all angles at least from some.
I back in 2018 thought of borrowing some money and to invest in BTC, and the interesting thing is loan would be interest free but still i dropped the idea. But i would took the risk i would have a lot of profits now because the price of BTC at that time was too low. Hmm What we can do if a gain is not in our luck. So do not regret while you are still in the profit.
August 02, 2023, 02:54:20 AM
I came up with this topic because I was planning to borrow money to invest in bitcoin but when I looked at the risk involved, I have to give up the borrowing plan.
If you do not have a way to pay back the money, it is a bad idea and that is when it is not good.Let us take this for example. You are collecting $1000 every month as salary and you want to invest $500 in bitcoin and you believe that time is the right moment because the price of bitcoin has dropped for many days or weeks significantly. Some people may predict already that the bull market is near. Because of that, you can borrow the $500 which you know that you can easily pay back from another source of income which is your salary.
If you are able to pay back the money, that is not a problem. The problem is to depend on the profit of what you want to invest the money on which are risky investment. If you do not depend on the profit from the risky investment, I do not see anything bad to borrow.
I am not referring to trading.
August 02, 2023, 02:34:21 AM
Yes as the subject said, using borrowed money to buy bitcoin is not good idea because the interest is accumulating every week/month and you don't know when the bull will come and even if you know, you will not know how much it will be. And assuming you took a loan of $400 to pay back within 3 years and the interest rate is $2 weekly and in the 3 years period, bitcoin has not reach the speculated price to sold your bitcoin to pay your loan. Or when you sell, you get the exact amount of the loan, or 1% profit from the sell and you pay off the loan and there is nothing left for you to start over. Is that a good investment? No. So there are many factors one can consider before using borrow money for bitcoin investment. You have to consider the duration of the loan, the probability outcome of bitcoin at the end of the loan year, and the interest rate accumulated at the time to pay back the loan
Investing in Bitcoin is a wise financial decision. Even when investing with your own money, the market is quite volatile. The goal is long-term rather than short-term. It is not advised to invest (whatever the investment) with a loan. If you want to invest in Bitcoin with a loan, the loan should be long-term, say 3-4 years.
Bitcoin is on the rise. However, there will inevitably be severe setbacks along the route that will endure for an extended period of time. Don't forget about your tax obligations. Even if you make a profit on the loan, you will still have to pay Capital Gains Tax. I've never taken out a loan to buy anything, but I do have 0% interest credit cards.for a period of 15 months. So I periodically buy when bitcoin is at a low, but I have almost a year to pay it back with no interest. Still a risk, but not as serious. You should think about it the next time. However, it only works for modest quantities.
August 02, 2023, 02:23:32 AM
Never say borrow money to buy Bitcoin is an investment, call it as gambling.
Investment is where you have some money which you don't know what you need to use, so you use it to buy a commodity that the price may growth after some period of times. While gambling is where many people used it to make quick profit by taking a big risk, borrowing money has a risk and Bitcoin price has a risk too, that's why it's fit to gambling.
Investment is where you have some money which you don't know what you need to use, so you use it to buy a commodity that the price may growth after some period of times. While gambling is where many people used it to make quick profit by taking a big risk, borrowing money has a risk and Bitcoin price has a risk too, that's why it's fit to gambling.
August 02, 2023, 02:03:14 AM
Yes as the subject said, using borrowed money to buy bitcoin is not good idea because the interest is accumulating every week/month and you don't know when the bull will come and even if you know, you will not know how much it will be. And assuming you took a loan of $400 to pay back within 3 years and the interest rate is $2 weekly and in the 3 years period, bitcoin has not reach the speculated price to sold your bitcoin to pay your loan. Or when you sell, you get the exact amount of the loan, or 1% profit from the sell and you pay off the loan and there is nothing left for you to start over. Is that a good investment? No. So there are many factors one can consider before using borrow money for bitcoin investment. You have to consider the duration of the loan, the probability outcome of bitcoin at the end of the loan year, and the interest rate accumulated at the time to pay back the loan.
When you have done your homework well and you see that you can use the loan to invest on bitcoin and there will be no problem at the end and you will have some changes remain in your wallet then you are free but if not, it will shock you and you will be frustrated so prevention is better than cure as they said. Therefore using loan for investment is not advisable. Ordinarily, you cannot just come to the cryptocurrency Ecosystem space without proper planning and started investing, it is not done in that way, at least calm down to study how things are done in the environment, making some analysis, compare and contrast some of the risk involved then if it is good then you key into it and if it is not then you look for an alternative way to invest in bitcoin.
I came up with this topic because I was planning to borrow money to invest in bitcoin but when I looked at the risk involved, I have to give up the borrowing plan.
When you have done your homework well and you see that you can use the loan to invest on bitcoin and there will be no problem at the end and you will have some changes remain in your wallet then you are free but if not, it will shock you and you will be frustrated so prevention is better than cure as they said. Therefore using loan for investment is not advisable. Ordinarily, you cannot just come to the cryptocurrency Ecosystem space without proper planning and started investing, it is not done in that way, at least calm down to study how things are done in the environment, making some analysis, compare and contrast some of the risk involved then if it is good then you key into it and if it is not then you look for an alternative way to invest in bitcoin.
I came up with this topic because I was planning to borrow money to invest in bitcoin but when I looked at the risk involved, I have to give up the borrowing plan.
I have encountered a lot of my friends, relatives, colleagues, etc., who are trying to open up about borrowing money just to buy Bitcoin.
But I educated them about the greater risks if they do insist to borrow money in buying Bitcoin and other cryptocurrencies and it is totally up to them if they want to take the risk or not.
I have never borrowed money just for the sake of buying Bitcoin while I was broke years ago. I earned it by just contributing in an esports blog who paid me a few bucks worth of BTC for every post until it stopped.
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