That is a terrible idea for several reasons.
Bitcoin is extremely volatile, and this means that there is a wide spread, and any future price rise needs to cover this for both the buying and the selling.
The price of Bitcoin is being manipulated, and it may go down for a sustained period, or shoot up to provide quick profits. Buying Bitcoin is a long term investment in my opinion. Trading the coin is extremely risks.
13% is far too high a rate for a loan, you should be able to get one for 2-4%
You should never borrow money for high risk speculation such as Bitcoin.
Bitcoin is extremely volatile, and this means that there is a wide spread, and any future price rise needs to cover this for both the buying and the selling.
The price of Bitcoin is being manipulated, and it may go down for a sustained period, or shoot up to provide quick profits. Buying Bitcoin is a long term investment in my opinion. Trading the coin is extremely risks.
13% is far too high a rate for a loan, you should be able to get one for 2-4%
You should never borrow money for high risk speculation such as Bitcoin.
I couldn't agree with this more. There is a common saying that I'm sure we've all heard but it couldn't be more true, especially in this situation: Only invest what you can afford to lose.
I would suggest if you are wanting to get into the market, either do it with a lower amount that you can afford or (as has been suggested) wait and save up until you have what you think is a suitable amount and then invest.
If there is one that you can rely on in crypto investing/trading it's that there will always be another pump and another dump. The market is highly volatile and highly influenced by major players who make the market hard to predict for us average investors.
