Can I take a loan to invest in bitcoin? - page 23.

uneng

hero member

Activity: 2030

Merit: 777

Leading Crypto Sports Betting & Casino Platform

Quote from: Ryu_Ar1 on January 28, 2023, 07:46:15 PM

I read several articles about debt which in the end remained at the same goal, namely debt will only harm you.
There are several reasons that are quite logical here, one of which is debt which actually makes you stressed.

Quote

When you have debt, it's hard not to worry about how you're going to make your payments or how you'll keep from taking on more debt to make ends meet. The stress from debt can lead to mild to severe health problems including ulcers, migraines, depression, and even heart attacks. The deeper you get into debt, the more likely it is that you will face health complications.

https://www.thebalancemoney.com/reasons-debt-is-bad-960048

and I quite agree with what is said here because indeed with us in debt it is clear that our thinking will increase by having to think about how we pay installments every month.
and when we are in debt just to invest in bitcoin it is clear that our thinking will branch out even more because apart from us having to think about installments, many of us are also often in doubt about the conditions where the price of bitcoin drops and crashes like now which makes us panic.
From this alone, we actually have to be aware that even though we will indeed have an advantage if we are in bitcoin, we also have to look at it from the other side.

One of the most important treasures in life is our health. We should never do anything which has as collateral effect damage to health. If the responsability of taking a loan is going to cause stress on that level, this idea has to be completely discouraged and forgotten. When the individual takes the risk of borrowing money to invest in cryptocurrencies, he is putting himself under double risk: besides not being able to repay his debt, he also might end with severe diseases for the rest of his life.

Swordsoffreedom

legendary

Activity: 2744

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

Quote from: capedbaldy on January 28, 2023, 07:57:13 PM

Quote from: ?? on ??

Its never been that recommended because if you do make up some loan just for the sake of taking up some investment here on crypto on where everything isnt really that sure whether you do make profits on time or not and just like the rest been saying that if you are heavily been that depending on your crypto earnings then it isnt something that you could rely with.You arent really that making yourself that get confident
when it comes to earnings which isnt something that you could really be that confident that you could payback it on time unless if you do have other sources then it might do or
not bad to take up some loan but if you are making this as your main source then it would be an another story.

It's better if he has other income then it's better to save it to invest in crypto than applying for a loan with high interest. It will be very detrimental to invest in crypto because of the risk of losing its value and forcing you to hold on for the long term. Even though my income is relatively low, I allocate my salary every month to be added to my portfolio.

Yes, I am doing the same with my investment, no need to borrow to invest, there are many ways we can save some money to invest in bitcoin. I don't understand why they don't do the same as us but want to borrow, maybe they think that getting rich with bitcoin is easy and they will quickly repay that loan from the profits that bitcoin brings. But they forget one thing, bitcoin can also take away all the money they borrowed and they soon themselves at another impasse in life. If we do not have too much money to invest initially, let's invest little by little, gradually accumulating without borrowing.

Sexylizzy2813

sr. member

Activity: 560

Merit: 418

IMO I don't think it's advisable to take a loan to start up an investment on cryptocurrency, digital coin is a very hot commodity and can be profitable. You can put yourself in serious dept while try to play smart with the market with money you don't have.
In some cases there are circumstances where taking a loan to start up an investment on cryptocurrency can be viable. Crypto investors advise to stay away from taking loan in other to avoid falling into serious dept risk, the percentage isn't 50/50.

capedbaldy

sr. member

Activity: 831

Merit: 286

Binance #Smart World Global Token

Quote from: ?? on ??

Its never been that recommended because if you do make up some loan just for the sake of taking up some investment here on crypto on where everything isnt really that sure whether you do make profits on time or not and just like the rest been saying that if you are heavily been that depending on your crypto earnings then it isnt something that you could rely with.You arent really that making yourself that get confident
when it comes to earnings which isnt something that you could really be that confident that you could payback it on time unless if you do have other sources then it might do or
not bad to take up some loan but if you are making this as your main source then it would be an another story.

It's better if he has other income then it's better to save it to invest in crypto than applying for a loan with high interest. It will be very detrimental to invest in crypto because of the risk of losing its value and forcing you to hold on for the long term. Even though my income is relatively low, I allocate my salary every month to be added to my portfolio.

Ryu_Ar1

hero member

Activity: 784

Merit: 615

I read several articles about debt which in the end remained at the same goal, namely debt will only harm you.
There are several reasons that are quite logical here, one of which is debt which actually makes you stressed.

Quote

When you have debt, it's hard not to worry about how you're going to make your payments or how you'll keep from taking on more debt to make ends meet. The stress from debt can lead to mild to severe health problems including ulcers, migraines, depression, and even heart attacks. The deeper you get into debt, the more likely it is that you will face health complications.

https://www.thebalancemoney.com/reasons-debt-is-bad-960048

and I quite agree with what is said here because indeed with us in debt it is clear that our thinking will increase by having to think about how we pay installments every month.
and when we are in debt just to invest in bitcoin it is clear that our thinking will branch out even more because apart from us having to think about installments, many of us are also often in doubt about the conditions where the price of bitcoin drops and crashes like now which makes us panic.
From this alone, we actually have to be aware that even though we will indeed have an advantage if we are in bitcoin, we also have to look at it from the other side.

erep

hero member

Activity: 2282

Merit: 589

Quote from: fuguebtc on January 28, 2023, 10:08:43 AM

I agree, we can borrow money to do business or do other things, but investing in cryptocurrency is really a bad decision. It is true that cryptocurrencies can bring big profits for some people, but many people also lose a lot. And honestly, I see more losers than winners. Cryptocurrency is too volatile, and we don't know if it will continue to grow in the future or will never rise again, no one knows. Only invest with money we can lose, never invest with money we cannot lose.

Using borrowed funds for crypto investments is not recommended because the purpose of the loan is for capital and profit, but crypto will not guarantee profit for a certain period but while you have to repay the loan monthly, so never use borrowed funds for risky investments. Investers should use the money allocated from the reserve fund so that the funds can be managed during a bear market without the need to disrupt funds for other needs.

BitcoinPanther

hero member

Activity: 1918

Merit: 564

Quote from: Marvell1 on January 28, 2023, 12:12:59 AM

Quote from: savetheFORUM on January 26, 2023, 08:55:43 AM

Quote from: xSkylarx on January 22, 2023, 10:35:13 PM

There are a lot of threads here in the forum regarding this kind of question. Try to search it, but I would say the majority of people here will say no, but if you can pay it even if you lose it (not relying on getting profit on bitcoin as it is still not sure that you will gain profit), then take a loan. Just remember, are you willing to pay those loans or money even though you haven't held it or even used it? Then, if your feelings aren't hurt, take out a loan. But again, this is a bad move, and we have already warned you. Just save money instead of taking a loan.

Bitcoin is in fact much valuable than any other thing that people spend their money after they took the loan and then those things just disappear too quickly or can become obsolete over time but that won't ever happen with Bitcoin. Bitcoin is like a wine. The longer it gets, the better so why not? But, the loan amount shouldn't be too much that you will be having a hard time paying it.

I know most of us do have our jobs, so we can still be able to pay the loan without touching our Bitcoins but it will be better to take a loan when there is a dump and then you don't have a cash yet in your hands. This way you won't miss a good opportunity.

If you are so sure, why don't you sell your house, and sell all your assets to invest in bitcoin? To be fair, bitcoin is an extremely risky investment, we all just expect bitcoin to continue to rise in the future, but there is no proof of that for sure. Historically bitcoin has always rallied and hit ATH, but that doesn't mean 100% of history will repeat itself in the future.
Borrowing money to invest in bitcoin is like lending money for business, we can borrow but need to make sure that even if our investment fails, we can still repay those loans. Don't be too subjective that an investment will always be profitable without risk.

Why sell your assets when you are sure you will be profitable in your venture. It would be better to take a loan and pay for interest than selling your house and rebuying it when you profit. You can have your house as collateral for your loan though.

Looking at how many people profit in Bitcoin, I do not think it can be a very risky investment. It has risk yes but smart people can calculate risk of Bitcoin market and take profit at the end. If the person is really into buying Bitcoin and has no capacity to pay a loan, then I would suggest to buy little amount of BTC every now and then. DCA if possible and accumulate overtime. I believe this is a better solution if you wanted to avoid loans and debt.

fuguebtc

hero member

Activity: 1750

Merit: 520

Leading Crypto Sports Betting & Casino Platform

Quote from: autumnleaf on January 28, 2023, 09:47:36 AM

Even though this has been debated and addressed numerous times, it is clear that getting a loan to invest in Bitcoin or any other cryptocurrency is a bad idea because you can never guarantee a profit from such an investment. Due to the volatility of the cryptocurrency market, investing your money could result in a profit or a loss. Many people took out loans to make investments; some made money, while others sank in debt. Remember to never invest more than you can afford to lose.

I agree, we can borrow money to do business or do other things, but investing in cryptocurrency is really a bad decision. It is true that cryptocurrencies can bring big profits for some people, but many people also lose a lot. And honestly, I see more losers than winners. Cryptocurrency is too volatile, and we don't know if it will continue to grow in the future or will never rise again, no one knows. Only invest with money we can lose, never invest with money we cannot lose.

autumnleaf

member

Activity: 219

Merit: 19

Even though this has been debated and addressed numerous times, it is clear that getting a loan to invest in Bitcoin or any other cryptocurrency is a bad idea because you can never guarantee a profit from such an investment. Due to the volatility of the cryptocurrency market, investing your money could result in a profit or a loss. Many people took out loans to make investments; some made money, while others sank in debt. Remember to never invest more than you can afford to lose.

jokers10

legendary

Activity: 1946

Merit: 3016

Quote from: posi on January 28, 2023, 07:46:01 AM

Borrowing money to invest is really not recommended, but I think if you have another source of income that can afford to pay those loans, but because you don't have enough money to invest, you can consider taking out a loan to invest. But if you have no other source of income and you only rely on investments to pay those loans, then you should stop thinking that and never try. It will make you worse than giving you the income you are paranoid about.

If we talk about logic only then probably so, but we are facing up with psychology as well. People behave reasonably much rare than seems, I guess majority is prone to impulsive behavior. So they'll buy when the top of a bull rally and then become upset on a bear trend, sell everything and stay with a loan (even which they can repay from some other source). Loan makes impulsive purchases easier and impulsive behavior for investing or trading is not good at all. So IMO it is better not even to think about loans.

aysg76

legendary

Activity: 1960

Merit: 2124

This is what we were discussing in this thread here that it's not at all advisable to invest with loans or borrowed funds as the market is risky which can make you loose funds.This is the main reason that you get panicked when seeing the market dumps because you mind says that your investment is going down while you have to repay the loan so you are afraid to loose that amount eventually leading to panic sell at loss.So always invest with your own funds and that also with complete understanding of the market conditions and volatility factors in mind.

BitcoinTurk

hero member

Activity: 1624

Merit: 624

Quote from: posi on January 28, 2023, 07:46:01 AM

Quote from: BitcoinTurk on January 28, 2023, 07:00:27 AM

Quote

"Can I take a loan to invest in bitcoin"

Absolutely not, I think never invest with borrowed money, especially in the cryptocurrency markets. As someone who has invested in cryptocurrency with debt before, I definitely do not recommend this. The stress and psychology that occurs especially when start to lose money is not something worth living. In addition, such a risk will both affect your daily life and cause your psychology to be negatively affected.

In addition to the suggestion that should not invest with debt, I think that the investments need to make with your own budget should also be provided from your savings that you do not need. If portfolio is adversely affected and needed a money, the transactions made to cash-in, even at a loss, only cause money loss.

Borrowing money to invest is really not recommended, but I think if you have another source of income that can afford to pay those loans, but because you don't have enough money to invest, you can consider taking out a loan to invest. But if you have no other source of income and you only rely on investments to pay those loans, then you should stop thinking that and never try. It will make you worse than giving you the income you are paranoid about.

You are absolutely right, but in order to realize such a thing, we must act according to the amount left to us after all our expenses, not our entire income. In addition, it is very important to make a decision by making sure that the expenses that we may encounter in our daily life when such a thing is done do not affect this. It is a very important detail that individuals who do not have any income source should definitely not invest with debt, especially in crypto market.

Finally, it should not be forgotten that it is always possible to encounter opportunities, especially in the cryptocurrency markets. A positive opportunity missed by borrowing today will certainly repeat itself when you have a capital in future.

posi

hero member

Activity: 2240

Merit: 579

Leading Crypto Sports Betting & Casino Platform

Quote from: BitcoinTurk on January 28, 2023, 07:00:27 AM

Quote

"Can I take a loan to invest in bitcoin"

Absolutely not, I think never invest with borrowed money, especially in the cryptocurrency markets. As someone who has invested in cryptocurrency with debt before, I definitely do not recommend this. The stress and psychology that occurs especially when start to lose money is not something worth living. In addition, such a risk will both affect your daily life and cause your psychology to be negatively affected.

In addition to the suggestion that should not invest with debt, I think that the investments need to make with your own budget should also be provided from your savings that you do not need. If portfolio is adversely affected and needed a money, the transactions made to cash-in, even at a loss, only cause money loss.

Borrowing money to invest is really not recommended, but I think if you have another source of income that can afford to pay those loans, but because you don't have enough money to invest, you can consider taking out a loan to invest. But if you have no other source of income and you only rely on investments to pay those loans, then you should stop thinking that and never try. It will make you worse than giving you the income you are paranoid about.

BitcoinTurk

hero member

Activity: 1624

Merit: 624

Quote

"Can I take a loan to invest in bitcoin"

Absolutely not, I think never invest with borrowed money, especially in the cryptocurrency markets. As someone who has invested in cryptocurrency with debt before, I definitely do not recommend this. The stress and psychology that occurs especially when start to lose money is not something worth living. In addition, such a risk will both affect your daily life and cause your psychology to be negatively affected.

In addition to the suggestion that should not invest with debt, I think that the investments need to make with your own budget should also be provided from your savings that you do not need. If portfolio is adversely affected and needed a money, the transactions made to cash-in, even at a loss, only cause money loss.

Dickiy

sr. member

Activity: 826

Merit: 460

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?

Lots of people suggest that you read threads that are basically the same as discussing borrowed money in investing. even so I also want to remind you to your friend.
Don't occasionally borrow money to do any kind of business, including investment and conventional business for beginners, because it will look like playing gambling because you don't know and don't understand what the market is like and what we should do, borrowing money for investment is the worst decision. unless maybe he already has experience in trading, I also have a friend who does that but before that, he has practiced with the small capital he has to understand how to take advantage of trends in the market including risk management before he decides to take out a loan to increase income from investing or selling buy in crypto.

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: savetheFORUM on January 26, 2023, 08:55:43 AM

Quote from: xSkylarx on January 22, 2023, 10:35:13 PM

There are a lot of threads here in the forum regarding this kind of question. Try to search it, but I would say the majority of people here will say no, but if you can pay it even if you lose it (not relying on getting profit on bitcoin as it is still not sure that you will gain profit), then take a loan. Just remember, are you willing to pay those loans or money even though you haven't held it or even used it? Then, if your feelings aren't hurt, take out a loan. But again, this is a bad move, and we have already warned you. Just save money instead of taking a loan.

Bitcoin is in fact much valuable than any other thing that people spend their money after they took the loan and then those things just disappear too quickly or can become obsolete over time but that won't ever happen with Bitcoin. Bitcoin is like a wine. The longer it gets, the better so why not? But, the loan amount shouldn't be too much that you will be having a hard time paying it.

I know most of us do have our jobs, so we can still be able to pay the loan without touching our Bitcoins but it will be better to take a loan when there is a dump and then you don't have a cash yet in your hands. This way you won't miss a good opportunity.

If you are so sure, why don't you sell your house, and sell all your assets to invest in bitcoin? To be fair, bitcoin is an extremely risky investment, we all just expect bitcoin to continue to rise in the future, but there is no proof of that for sure. Historically bitcoin has always rallied and hit ATH, but that doesn't mean 100% of history will repeat itself in the future.
Borrowing money to invest in bitcoin is like lending money for business, we can borrow but need to make sure that even if our investment fails, we can still repay those loans. Don't be too subjective that an investment will always be profitable without risk.

BitcoinPanther

hero member

Activity: 1918

Merit: 564

Quote from: leonair on January 27, 2023, 01:49:16 PM

Only investing with loans is not called risk. When someone invests his saved money, there is still a lot of risk, but in this case, if that person loses that money, then he does not have to answer to anyone. But if you lose money by investing with a loan, you must be accountable to the lender and repay the loan anyway. And you will be in great danger. So investing with loans is a very big risk. But if one can bear that risk then he can definitely gain at some point

The risk is the same whether you loan to invest in Bitcoin or you buy Bitcoin with your own money. The difference is that we have to pay an interest when we loan some money but it doesn't add up to the risk of investing but rather adds up to the capital of investment.

If you feel that our investment is wise, I would say go with a loan if you haven't enough money to take the opportunity. Just make sure you are capable of paying the lender in due time.

Giving a scenario of loaning money to buy Bitcoin at $16k and saving money then later buying Bitcoin at $22k, which one do you think is profitable? If there is an opportunity to profit, don't hesitate to take a loan if you have the capability of paying the loan and interest on time and the profit will out weigh the interest.

leonair

sr. member

Activity: 1232

Merit: 390

★Bitvest.io★ Play Plinko or Invest!

Quote from: Emitdama on January 27, 2023, 01:41:02 PM

Quote from: leonair on January 25, 2023, 12:59:01 PM

Quote from: DOH! on January 24, 2023, 09:22:02 AM

Borrowing money to invest in bitcoin is not something special. I know a few people who have implemented this idea. As a result of these investment processes, some people made some money and conversely some lost money, some invested in bitcoin, and the rest became debtors when investing in luna. .. The lesson learned is in the states of always deciding for yourself. Only bitcoin can come back, some altcoins won't

)

Taking a loan and investing that money in Bitcoin is risky but not bad. There is risk in everything. A person who does big business tries to expand his business by taking loans from different banks. Is his success guaranteed there? He can not lose in business? Of course it can, so think of Bitcoin investment as a business and keep it long-term to be successful. But if you don't have personal money then you shouldn't take a big loan. You have to maintain a limitation that never puts you in danger

Nobody that took zero risks ever became rich. If you want to be rich then you have to take some risks. However, you need to calculate the risk very well. Would you take a risk of 1 million dollar in debt to make 1 dollars? Of course not, that's obviously a bad example but you understand what I mean. So, if you are going to take out a loan, you better make sure that you are going to make a good return from it, it should be worth the risk you are taking.

Otherwise, what's the point of taking a risk? It will not make you richer, so you better not do it. I personally do not take too much risks because I am married and if I make a mistake I will make it harder for my family, but if you can take it, make sure it's a good one.

Only investing with loans is not called risk. When someone invests his saved money, there is still a lot of risk, but in this case, if that person loses that money, then he does not have to answer to anyone. But if you lose money by investing with a loan, you must be accountable to the lender and repay the loan anyway. And you will be in great danger. So investing with loans is a very big risk. But if one can bear that risk then he can definitely gain at some point

Emitdama

sr. member

Activity: 1895

Merit: 328

Quote from: leonair on January 25, 2023, 12:59:01 PM

Quote from: DOH! on January 24, 2023, 09:22:02 AM

Borrowing money to invest in bitcoin is not something special. I know a few people who have implemented this idea. As a result of these investment processes, some people made some money and conversely some lost money, some invested in bitcoin, and the rest became debtors when investing in luna. .. The lesson learned is in the states of always deciding for yourself. Only bitcoin can come back, some altcoins won't

)

Taking a loan and investing that money in Bitcoin is risky but not bad. There is risk in everything. A person who does big business tries to expand his business by taking loans from different banks. Is his success guaranteed there? He can not lose in business? Of course it can, so think of Bitcoin investment as a business and keep it long-term to be successful. But if you don't have personal money then you shouldn't take a big loan. You have to maintain a limitation that never puts you in danger

Nobody that took zero risks ever became rich. If you want to be rich then you have to take some risks. However, you need to calculate the risk very well. Would you take a risk of 1 million dollar in debt to make 1 dollars? Of course not, that's obviously a bad example but you understand what I mean. So, if you are going to take out a loan, you better make sure that you are going to make a good return from it, it should be worth the risk you are taking.

Otherwise, what's the point of taking a risk? It will not make you richer, so you better not do it. I personally do not take too much risks because I am married and if I make a mistake I will make it harder for my family, but if you can take it, make sure it's a good one.

Natalim

hero member

Activity: 2898

Merit: 590

BTC to the MOON in 2019

Quote from: Pejoh Asu on January 26, 2023, 10:14:08 PM

It's a good idea if we borrow from a bank to invest in bitcoin, I suggest borrowing with a long term maturity, for example 3 years, I believe the potential for an increase in bitcoin is currently very large because there are many obstacles that can be overcome, of course, when we have 100% profit then the best thing and safe is paying off the debt so we can rest easy if something bad happens again.

A long-term loan is not really a good idea for me. You are paying too much interest in that case and with that span of term, it was not impossible that can be hard to repay it especially if you just rely on the profit that you get from investing in Bitcoin. Investing in Bitcoin is profitable but we can't assure that every month we can have it and use it to pay the loan.
Honestly, it was easy to get a loan and make a promise to repay with them just because we have an investment but guess what, paying them back is quite hard.

Topic: Can I take a loan to invest in bitcoin? - page 23. (Read 4169 times)