Can I take a loan to invest in bitcoin? - page 14.

jokers10

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Quote from: og kush420 on April 02, 2023, 07:41:56 PM

...
if you don't take risk you don't deserve the return

Probably. And each of us calculates which risks are still affordable and which are already insane. We know that some people fell out of a flying plane without a parachute and even were not hurt but majority who fell out died. So it is a risk and I'll prefer not to jump out without a parachute. When we talk about investing there are other different risks and everyone calculates them for their own, we can just warn about underwater stones already found by others who tried. Maybe the warned ones can find a new way and succeed, good luck to them!

og kush420

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Quote from: jokers10 on April 02, 2023, 07:38:21 AM

Quote from: og kush420 on April 01, 2023, 07:55:14 PM

I would never do the mistake of investing - never in my life AGAIN

Which alternative do you have? To be too poor to have income which will allow just to buy some meals? If you have more than you need just not to die you invest anyway: sometimes you invest in yourself of your relatives, which is IMO the best investment. But if you have something to save for your pension you will invest your money anyway and it is just a matter of in what to invest. Crypto is risky, but there are many other risky assets as well, so crypto is not too bad, especially when we talk about bitcoin.

But taking loan for investing is definitely a bad idea: if you invest to hold your savings your risk is limited with it, and if you invest the borrowed you risk to be in debt with crashed assets.

as stated above though the risks are big, but there are still opportunities
if you don't take risk you don't deserve the return

jokers10

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Quote from: og kush420 on April 01, 2023, 07:55:14 PM

I would never do the mistake of investing - never in my life AGAIN

Which alternative do you have? To be too poor to have income which will allow just to buy some meals? If you have more than you need just not to die you invest anyway: sometimes you invest in yourself of your relatives, which is IMO the best investment. But if you have something to save for your pension you will invest your money anyway and it is just a matter of in what to invest. Crypto is risky, but there are many other risky assets as well, so crypto is not too bad, especially when we talk about bitcoin.

But taking loan for investing is definitely a bad idea: if you invest to hold your savings your risk is limited with it, and if you invest the borrowed you risk to be in debt with crashed assets.

Cryptock

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Quote from: jokers10 on February 11, 2023, 08:21:33 AM

Quote from: cryptosize on February 10, 2023, 06:24:47 AM

Again: you should ask people who take loans, not me.

If someone is 99,99% sure, he should not take a loan.

Don't ask me how is 100% possible, ask people who take loans, because I don't!

Sorry, it was your idea. We can read some stories in the topic about what reasons were used by those who took a loan for investing in crypto, no one said they were 100% sure. And you didn't say not to take a loan unless you 100% sure, you said to take it when you are. But anyway I see that you didn't really mean what you said, so okay, we can consider this discourse over.

Quote from: Ayers on February 10, 2023, 07:49:13 AM

I don't understand what he means either, but if you take out a loan with collateral, as far as I know, the loan term can be extended up to 3 years. This means we can pay the principal one time, but in those 3 years, we have to pay interest monthly or quarterly, interest must be paid during the term of the loan and principal can be paid on the last day of the loan term. The long-term loan package has a higher interest rate than the short-term loan package. If we do not have a job or a stable source of income, borrowing is extremely risky. In general, you should not borrow money to invest, just use idle money.

Seems that not everyone in the topic realizes what a loan could mean. Grin

Lol - I think one make a different comment and then the next member take the conversation from there.

og kush420

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Quote from: fuer44 on March 27, 2023, 07:52:24 AM

Even though the risks are big, we all know that, but there are still opportunities. But it's better not to do that let alone a beginner and someone who doesn't have a steady job yet. Because if there is a risk of a market crash, what will he do with the loan? Whereas the loan will provide him with bills every month? But if you already have a steady job let say with a salary of $ 300/month, take out a loan of $ 3000 for bitcoin investment and take a bill of $ 100 every month for 3 years, I think it still makes sense.

I would never do the mistake of investing - never in my life AGAIN

fuer44

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Even though the risks are big, we all know that, but there are still opportunities. But it's better not to do that let alone a beginner and someone who doesn't have a steady job yet. Because if there is a risk of a market crash, what will he do with the loan? Whereas the loan will provide him with bills every month? But if you already have a steady job let say with a salary of $ 300/month, take out a loan of $ 3000 for bitcoin investment and take a bill of $ 100 every month for 3 years, I think it still makes sense.

Theones

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Quote from: puloweh555 on February 10, 2023, 08:17:38 AM

Making loans to invest in crypto is not the right choice, it is highly not recommended to trade using borrowed money. You also know that crypto prices are very volatile and sometimes it goes up and down unreasonably. If you see a bullish market, and there is no cold money capital, you better let it go, don't force it. because if you are reckless it will harm yourself.

Because if you make a loan it will have a very negative psychological effect, and your financial management in the future if you experience a loss from the loan. Investing with cold money is very different from borrowed money, using cold money makes you mentally calmer than borrowed money.

that is correct!
Some people would double their money - but that too on the condition when luck sides you.
If you are unlucky person like me - that you must not take loan - and especially don't try taking loan from the bank - you will regret if you lose money like I did

og kush420

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Quote from: Aanuoluwatofunmi on March 25, 2023, 06:55:01 PM

If one has ever experienced the bad side of taking a loan from the loan shark then they would have understand the more reason it is not advisable to buy bitcoin on loan, investing on bitcoin maybe on a long duration while the loan taken may only last for few months in which when the time to make repayment completes and you're not capable of doing so because no interest has been marginalized yet, this make it part of the reason why it's not good for taking loan to invest.

some people are very good with finances and they keep taking loans and reinvest and earn on their own.
But had that been me - I would not take loan because I once took and regret it even till today

Aanuoluwatofunmi

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If one has ever experienced the bad side of taking a loan from the loan shark then they would have understand the more reason it is not advisable to buy bitcoin on loan, investing on bitcoin maybe on a long duration while the loan taken may only last for few months in which when the time to make repayment completes and you're not capable of doing so because no interest has been marginalized yet, this make it part of the reason why it's not good for taking loan to invest.

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Quote from: fadhilz123 on March 25, 2023, 11:49:10 AM

Quote from: imamb on March 25, 2023, 10:24:13 AM

it's better to collect money first than borrow money at the bank. For example, before going to borrow money, have you made sure that the results will be maximized, if this is not appropriate, this will pose a risk of living in a mess. I think it's better to collect money for capital in the future. even capital can now be free by following the trending airdrop

Following the trending Airdrop will not guarantee that someone can get capital easily at this time, because that is only the smallest part of a side job that anyone can do at this time. I think the wiser and better way in terms of getting capital for life is to work in a place that can make enough money so that one can distance himself from loans through banks.

Loans are a pressure in life that must be repaid if it has been made by someone through a certain party, so it would be better if someone thought about earning through his work first before he decided to make a loan to a bank or to another party. Because it will become an important pressure in his life and is something that must be paid off every month.

prioritizing work that is clear, of course, with a definite payday, it's true that airdrops are only a side effect if our economic situation is still inadequate. sometimes there are people who can live and have enough from the results of an airdrop or bounty, which I think this person worked hard and valued as much time as possible to improve the economy to better adequacy

mulia sabee

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Quote from: Phyna4 on January 22, 2023, 08:40:00 AM

"Can I take a loan to invest in bitcoin" this question was asked by a friend

My reply to her is this:
It is generally not advisable to take out a loan to purchase Bitcoin or any other cryptocurrency. Cryptocurrency markets are highly volatile and the value of a particular coin can fluctuate greatly in a short period of time. This means that the value of the coin you purchase with a loan could drop, making it difficult to repay the loan. It is important to do your own research and make sure you understand the risks before investing in any financial product, including Bitcoin.

What is your advice?

of course the advice you convey is very good for him to be able to change his plans. I am the same as you, I would ban someone who tries to invest in crypto if he has to take out a loan or get into debt. because bad things will always happen to someone who doesn't know and can't read market movements, what someone needs to know is that investment in crypto has a risk that is more vulnerable

fadhilz123

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Quote from: imamb on March 25, 2023, 10:24:13 AM

it's better to collect money first than borrow money at the bank. For example, before going to borrow money, have you made sure that the results will be maximized, if this is not appropriate, this will pose a risk of living in a mess. I think it's better to collect money for capital in the future. even capital can now be free by following the trending airdrop

Following the trending Airdrop will not guarantee that someone can get capital easily at this time, because that is only the smallest part of a side job that anyone can do at this time. I think the wiser and better way in terms of getting capital for life is to work in a place that can make enough money so that one can distance himself from loans through banks.

Loans are a pressure in life that must be repaid if it has been made by someone through a certain party, so it would be better if someone thought about earning through his work first before he decided to make a loan to a bank or to another party. Because it will become an important pressure in his life and is something that must be paid off every month.

Maslate

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Quote from: jenny56 on March 25, 2023, 09:24:18 AM

I would agree with your advice that it is generally not advisable to take out a loan to invest in Bitcoin or any other cryptocurrency. While there is potential for significant gains in the cryptocurrency market, it is also highly volatile and risky. Taking out a loan to invest in cryptocurrency could put you at risk of losing not only your investment but also the money you borrowed. Before investing in any financial product, it's important to do thorough research and understand the potential risks and rewards

Even with a thorough research, it's still not advisable to take out a loan from any platform or bank just to make an investment towards any cryptocurrency that exist in the market, even if that's bitcoin. I mean, somehow it will pay out in the future because there is indeed a chance that it will but how about the downfall where we consider the fact that bitcoin is volatile, overall, that makes it as a bad idea because of the risks entailed with taking out a loan.

imamb

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it's better to collect money first than borrow money at the bank. For example, before going to borrow money, have you made sure that the results will be maximized, if this is not appropriate, this will pose a risk of living in a mess. I think it's better to collect money for capital in the future. even capital can now be free by following the trending airdrop

jenny56

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I would agree with your advice that is generally not advisable to take out loan to invest in Bitcoin or any other cryptocurrency. While there is potential for significant gains in the cryptocurrency market, it is also highly chnaging and risky. Taking out a loan to invest in cryptocurrency could put you at risk of losing not only your investment but also the money you borrowed. Before investing in any financial product, it's important to do thorough research and understand the what is risks and rewards

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Quote from: Uruhara on March 25, 2023, 07:50:04 AM

~snip~

so the conclusion i made about this is we should avoid loans if only to invest in bitcoins. because investing in bitcoin is more suitable for the long term. while the money from the loan must still be paid when the loan payment is due. so that it can damage the long-term investment plan that we have made.

Its good that you avoid to take some loan to invest in Bitcoin, the potential is truly great in this cryptocurrency but nothing is guaranteed here. If you take some loan then your money lost when trading or investing in Bitcoin it will burden you more. Realize it fast is saving our lives from being careless and it's proven that before deciding something read some discussion will help our act later

Uruhara

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A few months ago I even had the chance to ask myself the same thing. Starting from the profits I got from trading activities. and I feel my capital is too small. so I thought of taking a loan to be used as trading capital and bitcoin investment. but I realized that I had to really think with a clear mind and without being influenced by my emotions at that time.

then i found a thread on a local board discussing loans for bitcoin investments. and i read the first few pages and i started to understand that taking out a loan to invest in bitcoin is not a wise thing. because even though bitcoin has quite high potential, its high risk is also worth paying attention to. so just using cold money is the best. and because this is for a long term investment. then just accumulating from the money I set aside turned out to be more convenient to do.

so the conclusion i made about this is we should avoid loans if only to invest in bitcoins. because investing in bitcoin is more suitable for the long term. while the money from the loan must still be paid when the loan payment is due. so that it can damage the long-term investment plan that we have made.

DrBeer

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One simple recommendation.
First you need to understand that both bitcoin and credit are risky entities. Because there is a non-zero chance that bitcoin will not rise, you will not be able to repay the loan.
And when making a decision on such assumptions, one should always proceed from the theory of risk management. If the assessment of the risk and possible consequences, in the event of a negative development of the situation, is acceptable, then you can take it. Otherwise - categorically no!

Threat my personal opinion - I would not take it

Mauser

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Quote from: Rupok on March 21, 2023, 11:21:47 PM

This would be fraught with risks, as it is true that it is not advisable to take a loan to buy Bitcoin or any other cryptocurrency.No one can succeed in cryptocurrency with loan. People who are in loan are always depressed, so I don't like to take loans.There is no guarantee that investing in cryptocurrencies will always be profitable, as cryptocurrency markets are highly volatile and the price of a particular currency can fluctuate widely in a short period of time.So you can never be sure that you will be profitable. How will you repay the loan if you lose once?

Every time the bitcoin price starts rising again the same question comes up, should people take out loans to invest in bitcoins. I am glad that the majority of the community here is against such investment practices. I feel the exact same way, it makes no sense to invest into risky assets with borrowed money. The problem is that there is no guarantee when bitcoins are going to rise. Bitcoins are long term on an upwards trend, but short term volatility can lead to losses. And with a loan we are required to make periodic interest payments, if we don't make enough profit to repay the interest we could be forced to sell some coins. I would argue that for most investors the risks is too high to trade with loans, and it's better to first save some money and then invest it.

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Quote from: Darker45 on January 22, 2023, 09:17:31 AM

My advice is the same with your advice. I don't like loans. I don't like borrowing money. I'm not comfortable knowing that I owe somebody a certain amount. But, who knows, if ever a time comes that I will have to borrow money, I might. However, it will never be for the sake of investment. It might be due to emergencies.

But if somebody is to borrow money for the sake of investment, Bitcoin is a better choice especially in the middle of a bear season and if it is for long-term hodling.

Borrowing for investment is the best form of borrowing. Its way better than borrowing for consumption. The only way you can borrow for consumption and it becomes okay is if it's an emergency. That being said, I wouldn't advice someone to borrow and invest in bitcoin. If you must then you need to ask yourself a couple questions like "how much do you know about bitcoin", "if the investment fails how badly will you be affected to pay back the loan". It's in a bid to avoid all these unhealthy scenarios that the term "invest what you can afford to lose" came about. Bitcoin can be a very tricky investment so you don't just go into it because everyone else is, take your time, learn, start small, lose little monies in the process, become and expert first before you can even think of investing big not to talk of taking a loan.

Topic: Can I take a loan to invest in bitcoin? - page 14. (Read 4170 times)