Can I take a loan to invest in bitcoin? - page 17.

pergola

full member

Activity: 308

Merit: 100

Quote from: cozytrade on March 16, 2023, 01:14:08 AM

Quote from: pergola on March 15, 2023, 12:21:44 PM

How can you be sure Bitcoin will go up in the next short time? Bitcoin could fall further. The profit brought from Bitcoin through Spot transactions may not be large but it is still safe. Borrowing money for investment looks risky and consider the risks in security and transactions carefully. Stay away from futures trading when you don't understand it.
Remember that interest rates at this time are at a high level, so it's best to use your savings to make such an investment, it will be much safer.

I think if we can keep investing in Bitcoin we never have to suffer loss. I think now is the right time to invest in Bitcoin. Because Bitcoin has been going through a lot of dumping for some time now. But a few days ago, the price of Bitcoin was high, but I think that if we invest in Bitcoin, we will have a chance to make a profit in a very short time. Therefore, I think it is very important for me to invest in Bitcoin instead of investing in any other coin.

Investing in Bitcoin will provide greater security than other currencies, but any investment is inherently risky. The most important thing is that we find comfort in money and balance our expenses. If you need money to survive then you will have to liquidate your investment.
I don't argue about the future, but my approach is to limit debt. I've been through it and I feel it's enough.

jokers10

legendary

Activity: 1946

Merit: 3016

Quote from: cozytrade on March 16, 2023, 01:14:08 AM

...
I think it is not right to invest with loan. I think it would be better if we can invest our own money. After investing with loan, if the time of loan repayment is right, if our investment means a lot of loss, then we have a lot of pressure. So I think it would be better for us if we could invest our own money instead of taking loans.

Even Silicon Valley Bank's story shows us how bad is to take a loan. Even big banks have problems with returning all deposits even when they invest in rather reliable assets. If the situation in global economy goes wrong everything can happen, if bear market will last for years and years will you have enough to pay your debt while bitcoin assets will cost lower than you bought? It is a possible situation and that's why loans for investing is not a good idea, even for investing in reliable assets.

cozytrade

sr. member

Activity: 1097

Merit: 310

Seabet.io | Crypto-Casino

Quote from: pergola on March 15, 2023, 12:21:44 PM

How can you be sure Bitcoin will go up in the next short time? Bitcoin could fall further. The profit brought from Bitcoin through Spot transactions may not be large but it is still safe. Borrowing money for investment looks risky and consider the risks in security and transactions carefully. Stay away from futures trading when you don't understand it.
Remember that interest rates at this time are at a high level, so it's best to use your savings to make such an investment, it will be much safer.

I think if we can keep investing in Bitcoin we never have to suffer loss. I think now is the right time to invest in Bitcoin. Because Bitcoin has been going through a lot of dumping for some time now. But a few days ago, the price of Bitcoin was high, but I think that if we invest in Bitcoin, we will have a chance to make a profit in a very short time. Therefore, I think it is very important for me to invest in Bitcoin instead of investing in any other coin.

Quote from: KaliLinux on March 15, 2023, 04:48:53 PM

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?

I really wouldn't take a loan because I don't do loans however just thinking about it, If I had wanted to take a loan then it would be that I know that the market is in a bull run and that everything from that point will most likely to be going up that way, my investment would be able to payout the loan in the shortest possible time.

I think it is not right to invest with loan. I think it would be better if we can invest our own money. After investing with loan, if the time of loan repayment is right, if our investment means a lot of loss, then we have a lot of pressure. So I think it would be better for us if we could invest our own money instead of taking loans.

Hamphser

sr. member

Activity: 2436

Merit: 324

Quote from: rachael9385 on March 15, 2023, 05:51:02 PM

Taking a loan to invest in Bitcoin is not a good endeavor, because is not a good step to take and Bitcoin is unpredictable, it can also crash anytime but we don't pray for such.
If you borrowed money to invest in Bitcoin and the rate of a bitcoin price drops, how can you payback the loan?
You see you can't pay back the loan and you are now a loaner, getting a loan and not paying back can also degrade your reputation on this forum.
If you want to invest on Bitcoin, your capital must be from your savings or somewhere else except loan.

If you do already know the risks then go ahead, we do have our own decisions in life which we might be able to see that it would be a life changing one or not.You cant just conclude up yourself on taking a loan

for nothing.You cant really be that too reckless on making decisions if you dont see the potential on having those beneficial thing then you wont really be considering such movement or decisions.
So its up to you whether you would take a loan or not, you arent that a kid not to know on what are the potential risks behind it.If you do take a loan and could repay it out on other
sources of income then i dont really see any issues with this one but rather it would really be just that a good decision to be made.

rachael9385

sr. member

Activity: 266

Merit: 217

Taking a loan to invest in Bitcoin is not a good endeavor, because is not a good step to take and Bitcoin is unpredictable, it can also crash anytime but we don't pray for such.
If you borrowed money to invest in Bitcoin and the rate of a bitcoin price drops, how can you payback the loan?
You see you can't pay back the loan and you are now a loaner, getting a loan and not paying back can also degrade your reputation on this forum.
If you want to invest on Bitcoin, your capital must be from your savings or somewhere else except loan.

|MINER|

sr. member

Activity: 1106

Merit: 421

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?

My advice is gonna also similar with your advise . I always try to follow the first rules of trading that , " Invest as much as you can afford to loose" so in this case if you take the loan then you are going to broke 1st rules. I am against trading with loan because bitcoin is highly volatile coin Here, nobody can tell when bitcoin will be pumped and when it will be dumped, so if it is in a dumping state after investment and the loan time is over, then the loan cann't be completed And then you can face bigger problems.

Iroh

sr. member

Activity: 616

Merit: 274

Quote from: Mario Yamasaki on March 15, 2023, 11:17:16 AM

If we don't have money to buy bitcoin or other investments then the best thing is to take a loan, especially yesterday the price rose to more than 17% and makes bitcoin often top trending on many social media, if we take a loan and fees or interest annual 12%, so yesterday we were able to profit 17% and pay off debts, don't be afraid to take a loan because bitcoin has good hopes for the future.

If I haven’t got the money to buy bitcoin or invest in other investment opportunities, the last thing I would think about doing is to take a loan from the bank. I see the bank as your local loan shark cause the bank always collects its debts owed to it.

If i don’t have money to invest in bitcoin or any other investment, the best thing to do in my opinion, is to try and increase the avenues in which I receive income. Acquire the relevant skills to enable you acquire better job opportunities.

Personally, I wouldn’t borrow or recommend anyone to borrow from family or friends and definitely not the bank to invest in bitcoin. The interest accrued from the loans might just financially wreck you.

KaliLinux

hero member

Activity: 1344

Merit: 565

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?

I really wouldn't take a loan because I don't do loans however just thinking about it, If I had wanted to take a loan then it would be that I know that the market is in a bull run and that everything from that point will most likely to be going up that way, my investment would be able to payout the loan in the shortest possible time.

sulendra12

hero member

Activity: 2814

Merit: 526

Undeads.com - P2E Runner Game

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

No

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

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?

Because the nature of Bitcoin is unpredictable, even you do your best to research anything, the chance of the market not moving in the way you are expected exists and it may ruin your entire strategy if you don't have any backup plan in that time. I'd rather just do it with your affordable money and wait for a little bit, if it another investment such as gold maybe it's different but if it's Bitcoin then you have to tell her that.

Unbunplease

legendary

Activity: 1792

Merit: 1159

Quote from: Mario Yamasaki on March 15, 2023, 11:17:16 AM

If we don't have money to buy bitcoin or other investments then the best thing is to take a loan, especially yesterday the price rose to more than 17% and makes bitcoin often top trending on many social media, if we take a loan and fees or interest annual 12%, so yesterday we were able to profit 17% and pay off debts, don't be afraid to take a loan because bitcoin has good hopes for the future.

Unfortunately, it is impossible to say where bitcoin will go in the next interval. Yes, historically the price of bitcoin is going up, but the interest on the loan - if you take a loan to buy bitcoin - is also going up. And whether you'll have enough opportunities to wait for a profit is something no one can predict.

pergola

full member

Activity: 308

Merit: 100

How can you be sure Bitcoin will go up in the next short time? Bitcoin could fall further. The profit brought from Bitcoin through Spot transactions may not be large but it is still safe. Borrowing money for investment looks risky and consider the risks in security and transactions carefully. Stay away from futures trading when you don't understand it.
Remember that interest rates at this time are at a high level, so it's best to use your savings to make such an investment, it will be much safer.

Mario Yamasaki

member

Activity: 737

Merit: 11

If we don't have money to buy bitcoin or other investments then the best thing is to take a loan, especially yesterday the price rose to more than 17% and makes bitcoin often top trending on many social media, if we take a loan and fees or interest annual 12%, so yesterday we were able to profit 17% and pay off debts, don't be afraid to take a loan because bitcoin has good hopes for the future.

Tony116

legendary

Activity: 2072

Merit: 1023

★Bitvest.io★ Play Plinko or Invest!

Quote from: ?? on ??

I'm new to this forum, but I thought I'd share my two cents on the topic. TBH, theoretically, it's possible to take a loan and invest it in BTC or anything else, but IMHO, that's a risky move, fam.

As a newbie, you need to learn more before making investment decisions, as well as giving advice to someone. If you read the previous comments, you will see that borrowing money to invest is not advisable and should be avoided. Because bitcoin is extremely risky, there is no guarantee that it will continue to exist in the future. We only hope for the future of bitcoin, we have no proof that it will ever exist and be as safe as real estate or gold. As a newbie, you need to know this: invest only what you can lose. Absolutely do not borrow, and do not sell assets to invest in bitcoin.

speedy963

sr. member

Activity: 631

Merit: 253

Quote from: isaac_clarke22 on March 09, 2023, 07:56:56 PM

Quote from: ?? on ??

~

I would not really advise people to just go out and take a loan to invest to Bitcoin. It is just way too unstable and volatile to risk any loan amount to crypto. My thumb rule is just use loans for anything that guarantees or at least "likely" to give you profit so that you could at least pay your loans at the end of the repayment date.

I recall already a lot of people that just went insane trying to pay their debts off and just can't get out of it.

Too many comments are saying the same thing, and personally I would also say the same. Getting in debt just because you want to invest is really not an option even if we say it's one of the store value asset or for a long term investment.

Much advisable to earn extra money intended for those investments rather than getting in debt just to have investment fund for the future. This is actually and literally based on one of my friend's experience.

isaac_clarke22

sr. member

Activity: 1596

Merit: 264

Quote from: ?? on ??

~

I would not really advise people to just go out and take a loan to invest to Bitcoin. It is just way too unstable and volatile to risk any loan amount to crypto. My thumb rule is just use loans for anything that guarantees or at least "likely" to give you profit so that you could at least pay your loans at the end of the repayment date.

I recall already a lot of people that just went insane trying to pay their debts off and just can't get out of it.

Iroh

sr. member

Activity: 616

Merit: 274

Quote from: Ngewex Yuk on March 09, 2023, 02:33:11 AM

Of course I suggest re-thinking the impact or losses that we will experience if the market drops, sometimes the market drops significantly and as is currently happening that the price has dropped by more than 60% compared to ATH in 2021, if we want to take a loan to invest in bitcoin then i suggest to pay in long term eg 5 years. so that we don't panic when prices drop on a daily basis as is happening now.

Do you know the interest accrued when you take out a loan from the bank to repay in 5 years? The interest accumulated would grow to be more than the loan you originally took out.
It is not wise to take out a loan especially from the bank to invest in bitcoin. Taking out a loan for business purposes is risky enough cause the business may or may not yield profits in the expected time and the bank would definitely come calling for their money.
You do not invest what you can’t afford to lose. You definitely do not take out a loan to invest in bitcoin.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: Fortify on March 09, 2023, 02:35:37 PM

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?

Yeah, no. It's definitely not advisable to take out a loan for this sort of speculation and no responsible loan company out there would let you borrow money for this. At the end of the day, you would just be gambling with their money but if it went wrong then they would be the ones to lose out as you might decide to go bankrupt instead of paying it back. Loan companies, whether they are banks or other financial institutions, are definitely not charitable with their money like that. It is not something like borrowing money for a car, where they might be able to secure it against an asset which is unlikely to substantially drop in value or they'll be able to retrieve at least a portion of the money back.

If you could pay up the loan without needing to take another loan then it should be fine since you do know that you do have some responsibility for you to need on paying it up.Unlike into those people who do

took a loan and making it a cycle just because they are buying into something.Taking a loan for some investment isnt that bad as long you do know on how to repay those to avoid charges and huge interest.

If you do invest on bitcoin with a loan money then dont expect that you could really get some profits in short time, we dont know on when and on how this market behaves in
terms of its price movement.

2double0

legendary

Activity: 2618

Merit: 1105

Never consider a loan to invest in btc if it isn't a long term loan and you are not capable of paying back your interest on time because the fall in btc will make your investment go more under debt by devaluation of your asset.
You can invest in many available resources, can go for futures or options during bear season as that would help you to short it and make money with leverage up to 100x (high leverage is never advised, I'm only putting it in front of you as I take max 5x which is still high IMHO).

Bialke

jr. member

Activity: 92

Merit: 4

I will exchange "Bitcoin" with "crypro currency":

In the moment it is very good to make debts! 1000 USD were 1600 USD one year before. So if there is no contract adjustment you loan 1600 USD (worth 1600 USD today) and pay 1600 USD (worth 1000 USD today) back in one year. (And a few rates. The rate should be lower as the inflation rate.)

But crypto currencys are no good "assets". Basically Bitcoin fell ~70 percent on the market position and fell ~60 percent on the USD. So if you was investing 1000 USD, you have 300 USD after a year (now) and your 300 USD are worth ~120 USD.

Better invest in shame-related businesses with the loaned money.

Fortify

legendary

Activity: 2646

Merit: 1176

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?

Yeah, no. It's definitely not advisable to take out a loan for this sort of speculation and no responsible loan company out there would let you borrow money for this. At the end of the day, you would just be gambling with their money but if it went wrong then they would be the ones to lose out as you might decide to go bankrupt instead of paying it back. Loan companies, whether they are banks or other financial institutions, are definitely not charitable with their money like that. It is not something like borrowing money for a car, where they might be able to secure it against an asset which is unlikely to substantially drop in value or they'll be able to retrieve at least a portion of the money back.

Topic: Can I take a loan to invest in bitcoin? - page 17. (Read 4170 times)