Can I take a loan to invest in bitcoin? - page 18.

jokers10

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Quote from: Jody.Drummer on March 09, 2023, 12:02:28 PM

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Suppose we borrow money to open a business, which is roughly possible because it will produce money because the money is played back.
...

Difference between investing and making a business is in that the second basing on your efforts: if you are skillful, if you made a good business plan and work hard chances of success are much more based on your competition then on a luck. And when you invest it crypto chances are mainly based on a luck. You can work harder in business to overcome a time of troubles but if it is a long bear market in crypto and you invested in it you have nothing else to do but to wait until better times.

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Quote from: Jody.Drummer on March 09, 2023, 12:02:28 PM

Quote from: Cryptmuster on March 09, 2023, 03:59:04 AM

Quote from: bestcoins1 on March 08, 2023, 04:04:11 AM

Any loan and for any matter always has rules that must be understood from the start or before taking a loan by everyone, and the only thing that has the most logical reason for making that loan is when someone starts to feel an urgent need for their business capital. Because apart from that, it will be very difficult for someone who takes out a loan to pay it off at a later date because a loan that is not used for capital or put back into business will not be profitable at all.

This responsibility lies entirely with the one who takes the loan, since he is provided with an agreement with the conditions that need to be thoroughly studied. The same applies to all user agreements, by signing which we agree to the terms (when we register on the exchanges, each of us signs such an agreement, but who read it in full?) And this is all the responsibility that you need to think about beforehand, just like It is worth thinking about whether it is reasonable to take a loan for any investment.

I said that taking out a loan is not recommended for anything, because it has risks. When borrowing means that someone has to be returned in a larger amount, even if it is in installments, we never know someone's economic situation will run smoothly or not until the loan is paid off at least. Suppose we borrow money to open a business, which is roughly possible because it will produce money because the money is played back. But the problem is that the business will not succeed immediately, so there is a gamble here. So I personally definitely don't recommend it.

You can take loans if you have a stable income and enough money to pay for it in time because if not, you will only feel stressed and might be in trouble in the future. As much as possible, avoid borrowing money if you can still find other alternatives to sustain your needs because it can affect your mental peace in so many ways. If you like to invest, then save and work for it rather than rushing things out by borrowing. Bitcoin investment has risk so loaning will not be a wise idea.

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Quote from: Cryptmuster on March 09, 2023, 03:59:04 AM

Quote from: bestcoins1 on March 08, 2023, 04:04:11 AM

Any loan and for any matter always has rules that must be understood from the start or before taking a loan by everyone, and the only thing that has the most logical reason for making that loan is when someone starts to feel an urgent need for their business capital. Because apart from that, it will be very difficult for someone who takes out a loan to pay it off at a later date because a loan that is not used for capital or put back into business will not be profitable at all.

This responsibility lies entirely with the one who takes the loan, since he is provided with an agreement with the conditions that need to be thoroughly studied. The same applies to all user agreements, by signing which we agree to the terms (when we register on the exchanges, each of us signs such an agreement, but who read it in full?) And this is all the responsibility that you need to think about beforehand, just like It is worth thinking about whether it is reasonable to take a loan for any investment.

I said that taking out a loan is not recommended for anything, because it has risks. When borrowing means that someone has to be returned in a larger amount, even if it is in installments, we never know someone's economic situation will run smoothly or not until the loan is paid off at least. Suppose we borrow money to open a business, which is roughly possible because it will produce money because the money is played back. But the problem is that the business will not succeed immediately, so there is a gamble here. So I personally definitely don't recommend it.

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Quote from: bestcoins1 on March 08, 2023, 04:04:11 AM

Any loan and for any matter always has rules that must be understood from the start or before taking a loan by everyone, and the only thing that has the most logical reason for making that loan is when someone starts to feel an urgent need for their business capital. Because apart from that, it will be very difficult for someone who takes out a loan to pay it off at a later date because a loan that is not used for capital or put back into business will not be profitable at all.

This responsibility lies entirely with the one who takes the loan, since he is provided with an agreement with the conditions that need to be thoroughly studied. The same applies to all user agreements, by signing which we agree to the terms (when we register on the exchanges, each of us signs such an agreement, but who read it in full?) And this is all the responsibility that you need to think about beforehand, just like It is worth thinking about whether it is reasonable to take a loan for any investment.

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Quote from: LastKiss on March 09, 2023, 02:35:41 AM

Quote from: Ngewex Yuk on March 09, 2023, 01:33:11 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.

Just don't take a loan at all, we never know what happen in the future for example 5 years in the future maybe Bitcoin is not as worth like now or maybe Bitcoin is worth 10x from its current price. Although we know that Bitcoin always makes new ATH after halving but nothing is guaranteed in crypto like we know that LUNA is the top crypto but it falls, we know that FTX is the top exchange but it falls too.

yes, that's true, it's a very big risk if you take a loan to invest in Bitcoin, let alone a loan with interest at a predetermined time, of course this will make a big burden when the price of Bitcin drops.
it is better if for both short term and long term investments use money that does not interfere with survival, such as savings money or savings money that is set aside from excess after fulfilling life's needs.

I really don't agree with people taking loans to invest in bitcoin, it's like a gamble that will destroy when the loan deadline comes.

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Before taking out a loan to invest in Bitcoin or any other investment, it is important to do your research and understand the risks involved. It is also advisable to speak with a financial advisor to help you make an informed decision.

A financial advisor that asks for fees and then will give us stats and information that can be taken on the internet for free? Maybe it works if the investor is too busy or lazy to check and research thoroughly the assets he wants to get in. But considering a person who's planning to take a loan in order to invest in a volatile asset and has no time to research about it is a big NO already. If the guy is rich and is just trying to diversify his investments without taking unnecessary loans then yeah, it is reasonable to pay a financial advisor. Otherwise, it is wrong to pay a financial advisor. It is even wrong in the first place to take a loan in order to invest in an asset without much knowledge about it. Purely, the guy is profit driven and is just tempted due to the words it keeps hearing and seeing around.

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Quote from: Ngewex Yuk on March 09, 2023, 01:33:11 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.

Just don't take a loan at all, we never know what happen in the future for example 5 years in the future maybe Bitcoin is not as worth like now or maybe Bitcoin is worth 10x from its current price. Although we know that Bitcoin always makes new ATH after halving but nothing is guaranteed in crypto like we know that LUNA is the top crypto but it falls, we know that FTX is the top exchange but it falls too.

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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.

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Quote from: fatduckingcat on March 07, 2023, 06:52:05 PM

I'd ask yourself if you are considering taking a loan out because you are infatuated by the prospects of bitcoin rising in value over some short period of time that outpaces the interest accruing on your loan, or if you are taking a loan out because it is an essential component to whatever endeavor you're working on, or if this is for an immediate need.

Any loan and for any matter always has rules that must be understood from the start or before taking a loan by everyone, and the only thing that has the most logical reason for making that loan is when someone starts to feel an urgent need for their business capital. Because apart from that, it will be very difficult for someone who takes out a loan to pay it off at a later date because a loan that is not used for capital or put back into business will not be profitable at all.

So it's not wrong if the loan is made wisely for urgent needs in an ongoing business because the business owner will not find it difficult to pay it every month because he has the benefits of a business that has been well known from the start. Because if the loan is only used to change your lifestyle by enjoying it to the end without any leftovers and without generating other, better income, it will obviously end in trouble.

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Quote from: fatduckingcat on March 07, 2023, 06:52:05 PM

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or if this is for an immediate need.

What immediate need can make you to take a loan for investing in bitcoin like said in the subject of a topic we discuss? So this topic is not about taking a loan for urgent purpose like for health, it is right about investing. And that's why there is a known answer: it is a bad idea by default. Even if some can get profit with such behavior model this model is not suitable for majority asking this question anyway. If you came to this topic to learn what people say about if it is good to take a loan, I'd say you shouldn't do so because you don't understand all risks and are not ready to all losses.

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I'd ask yourself if you are considering taking a loan out because you are infatuated by the prospects of bitcoin rising in value over some short period of time that outpaces the interest accruing on your loan, or if you are taking a loan out because it is an essential component to whatever endeavor you're working on, or if this is for an immediate need.

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Multiple topics have been made with this thought in mind. The answer of the people in this forum remains the same: Whatever floats your boat. There's a good idea behind using debts to power your investments but personally, ss a small-scale investor that knows jack about how the stock market works, or crypto infustry for that matter, I wouldn't be so confident as to head in face-first into investing, let alone something that I have to repay along with the interest. I would highly suggest you adequately inform yourself first and foremost about the ins and outs of the industry before investing money, and if you reslly are decided about taking a loan and using it to invest then go for it, but make no mistake, cryptocurrencies are highly volatile and your 100 today could easily turn to 70, 60, 50, or even 40 tomorrow.

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Quote from: S A KHAIR on February 13, 2023, 07:44:46 AM

Absolutely should not borrow money to invest in bitcoin, it is true that bitcoin can bring good profits in the future, but no one can say for sure, the possibility that bitcoin will never recover is still possible despite that probability is very low. If you want to invest and have no capital, work hard instead of thinking about loans. It will kill you before you make a profit.

It's not just about if it will recover or not. Imagine we all believe it will: we don't know the other part of a puzzle, when will it be. It can be this year or in ten years. If someone will be so unlucky to take a loan, to repay it and then in 5 years see their assets still cost less they payed for it and then sell to cover part of the losses and then in 5 more years it will grow up fast... It will be even more painful to see that.

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Absolutely should not borrow money to invest in bitcoin, it is true that bitcoin can bring good profits in the future, but no one can say for sure, the possibility that bitcoin will never recover is still possible despite that probability is very low. If you want to invest and have no capital, work hard instead of thinking about loans. It will kill you before you make a profit.

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Quote from: Hamphser on February 12, 2023, 05:33:44 PM

Quote from: blockman on February 12, 2023, 05:18:49 PM

Exactly.
You have no idea where it's going to take us and the same goes with the activity that you have bought it with the use loaned money. Do not take loans when you're investing in bitcoin.
Please, people that have been putting it on their minds, that's not a great idea to begin with your journeys into bitcoin investing because that's not going to work.

Simply there's no assurance because there's no such thing about sure profit or making income with crypto investment and even on Bitcoin.It wont really be giving out guarantees even if its the top coin in the market.

If you did make out some consideration on taking a loan just for you to invest with Bitcoin then its your choice but make yourself that fully aware thats not how thing goes or works.If you do have other sources on which you can rely on and you could pay the loan without needing those bitcoin profits then go ahead because if you've been depending on it then it would really be just putting you into that bad position.
Never ever consider on taking a loan for you to invest with crypto in overall, it doesnt really give out any assurances.

While us who have been long here, don't advise it. Even if we know that the future of bitcoin is great still, we don't have the future on it in our hands.
It's still a volatile market we don't know what may happen by tomorrow. And as for the people borrowing money to the banks, the interest will start ticking and you don't know if you're already in profit by the next day and much worse that you have to deal with losses.
Save money and use that for investing when you're already ready. That's a more desirable position and makes you even more prepared for any situation that you may deal with.

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Quote from: blockman on February 12, 2023, 05:18:49 PM

Quote from: Lida93 on February 12, 2023, 02:53:32 PM

It's never advisable to invest on bitcoin with loan money, investing on bitcoin is like taking a journey that you have no idea of where it's leading to but you just take it anyway and that's the more reasons it doesn't have to be a loan money. Even if it's your own personal money it should be what you're okay to go with if it didn't go as planned .

Exactly.
You have no idea where it's going to take us and the same goes with the activity that you have bought it with the use loaned money. Do not take loans when you're investing in bitcoin.
Please, people that have been putting it on their minds, that's not a great idea to begin with your journeys into bitcoin investing because that's not going to work.

Simply there's no assurance because there's no such thing about sure profit or making income with crypto investment and even on Bitcoin.It wont really be giving out guarantees even if its the top coin in the market.

If you did make out some consideration on taking a loan just for you to invest with Bitcoin then its your choice but make yourself that fully aware thats not how thing goes or works.If you do have other sources on which you can rely on and you could pay the loan without needing those bitcoin profits then go ahead because if you've been depending on it then it would really be just putting you into that bad position.
Never ever consider on taking a loan for you to invest with crypto in overall, it doesnt really give out any assurances.

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Quote from: Lida93 on February 12, 2023, 02:53:32 PM

It's never advisable to invest on bitcoin with loan money, investing on bitcoin is like taking a journey that you have no idea of where it's leading to but you just take it anyway and that's the more reasons it doesn't have to be a loan money. Even if it's your own personal money it should be what you're okay to go with if it didn't go as planned .

Exactly.
You have no idea where it's going to take us and the same goes with the activity that you have bought it with the use loaned money. Do not take loans when you're investing in bitcoin.
Please, people that have been putting it on their minds, that's not a great idea to begin with your journeys into bitcoin investing because that's not going to work.

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Quote from: Lida93 on February 12, 2023, 02:53:32 PM

It's never advisable to invest on bitcoin with loan money, investing on bitcoin is like taking a journey that you have no idea of where it's leading to but you just take it anyway and that's the more reasons it doesn't have to be a loan money. Even if it's your own personal money it should be what you're okay to go with if it didn't go as planned .

loan is curse - stay away from it as much as you want.
If you take loan then you are under the burden of interest and it is hardest to pay off - I took loan once and decided not to do it ever in my.

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It's never advisable to invest on bitcoin with loan money, investing on bitcoin is like taking a journey that you have no idea of where it's leading to but you just take it anyway and that's the more reasons it doesn't have to be a loan money. Even if it's your own personal money it should be what you're okay to go with if it didn't go as planned .

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Quote from: AicecreaME on February 11, 2023, 08:21:23 AM

You're correct.

Loan interest is fixed, while Bitcoin price is not. So it is really not advisable to take a loan for your friend to invest in Bitcoin since the price is very unpredictable. Even if he's going to use it for trading, I don't see it a very good idea unless he has enough experience that can back up his decision which makes him confident that he can make a lot of profits out of it so that he won't have sny problem paying up his loan.

Interest rate is at the peak these days. And after the high inflation one should not take loan
Because you loose the loan amount and you pay high interest rates and cherry on the top - you loose peace of mind.

Topic: Can I take a loan to invest in bitcoin? - page 18. (Read 4422 times)