Can I take a loan to invest in bitcoin? - page 24.

jokers10

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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.

If you are so brave to give such advice are you ready to be responsible for it and guarantee repaying losses if something would go wrong way? If we'll face up with a long long bear trend for many years and all that 3 year loan will need to be paid much earlier than possible earnings, what should the one with that loan do? For some it could be a matter of life and death.

Pejoh Asu

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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.

Fatunad

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Quote from: odunybiz on January 26, 2023, 07:15:08 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?

Investing in crypto with a loan isn't advisable. I have tried it before and I lose heavily. I borrowed money from a friend to buy a token which have been doing great. To my surprise, it got dumped after my purchase and I sold out of lost when that my friend is on my neck for his money. Crypto is an investment but should be done wisely

Its never been advisable specially when you are depending on the profits you are making with it for you to repay the loan which it would really be a suicidal kind of act on which you would really be having a hard time on getting one considering that this market is never been that predictable on where it would be making out some pumps.This is what makes it hard to be relying in terms on repaying some loans just because you had invested in Bitcoin.If you do have other sources on which you could repay the loan then getting some loan to invest isnt a bad option or to take but you should make yourself that responsible so that you wouldnt
really be that putting yourself in big trouble.

odunybiz

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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?

Investing in crypto with a loan isn't advisable. I have tried it before and I lose heavily. I borrowed money from a friend to buy a token which have been doing great. To my surprise, it got dumped after my purchase and I sold out of lost when that my friend is on my neck for his money. Crypto is an investment but should be done wisely

Moeda

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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?

Most people do not recommend taking out a loan and investing in any crypto. Because the investment risk is very high, this is related to price fluctuations.
Every loan generally has to be repaid in installments every month. If we take $1k for a year, of course we have to return more than $100 in every month. It depends on the interest set by the borrower.
The question is, can we get a profit of $ 100 every month with a capital of $ 1k?
Of course it's not impossible in crypto investment to get $ 100 with a capital of $ 1k. But do we have the ability to read the opportunities in every trade we make? Because we have to be able to make $100 in both bullish and bearish markets.
If we haven't mastered this, it would be better not to do it.

Bushdark

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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?

I could remember a group of friends that borrowed money to Bitcoin when the price was at $59k is still in a big loses till now. The market is very volatile and we need to understand that and be careful of how we are becoming zealous to buy Bitcoin especially with a big fund.
Takinh the risk of collecting loan to buy cryptocurrency might be a big danger for us if we keep doing this.
Even though you have done that and become successful especially making big profits may be a trap and we need to be prepared and ensure our safety. Before we invest we need to be prepared for the worse Incase anything happens.

savetheFORUM

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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.

livingfree

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Your friend can do that if she's hard headed and asks questions but barely listens. It's not rare to see people asks some suggestions but will not even listen to what you've said to them.

Listen not only to advise but stories of other people that did the actual thing. You'll hear a few success from those but majority of them had a nightmare with it.

Give her the hint that experienced bitcoin folks don't even try this so, how much more those inexperience and newbies?

jokers10

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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

)

Bitcoin definitely can come back but we never know when and how high. If you take a loan you expect to have a gain from investing before you have to return money, but you have no guarantees that the next cycle of bitcoin with a bull trend will be soon enough. Even if it was so previously it doesn't mean it will be the same forever. To risk own money is acceptable, anyway you'll have your bitcoins. But to risk with a loan you have to return... too risky IMO.

jrrsparkles

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Loan should never become an option for an investment except you are really rich and have billion dollars in bank but want to avoid the tax so take loan and avoid tax legally.

Savings=> investment=> returns=> compounding effect

So more longer you keep investing the higher will be the returns and since you asked for buying bitcoin its more risky than traditional investment, I wouldn't even recommend selling your asset to buy bitcoin.

Mr. Magkaisa

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If you are in the cryptocurrency or bitcoin business, it is not bad to take a loan, as long as you make sure that what you do is 100% correct, you are not allowed to make mistakes.

And I think, if you will use what you borrow to invest in bitcoin, I will not oppose you in that regard, I will even support you. But if you use it with another cryptocurrency even if it is still in the top altcoins in the market, I will not agree with you on that matter because the risk is very high for sure mate.

Cryptmuster

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

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

A business loan is justified when the business is already established and brings a stable income, when you can see for sure that you receive an approximate amount every month. Then you can take a loan and calculate what benefit you can get from it. And if you take out a loan to buy bitcoin, then you won’t be able to predict something for sure, because you need to give money to the bank every month, and there is a risk that after buying the bitcoin price will go down for a long time.

HajiBagi

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I do not believe that taking a loan to invest in bitcoin is a good idea for you because I believe that it is a risk that can lead you to many things, such as thinking of paying the debt and also thinking about what will happen when btc prices did not come as you expected. Investing in bitcoin is a good investment, but it also has two possible outcomes: either you lose or you have something good from it.but if you are a salary worker, however, I believe that you can take a loan.

19Nov16

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Sometimes life must dare to take risks, if we do not dare to take risks then life will be flat and difficult to change for the better, many experts believe that this year bitcoin will skyrocket to at least $ 50k, I have sold some of the assets I have to buy bitcoin , and if there is access to borrow then I will do it.

dunfida

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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

This is where risk management would really takes place because there are people who could bare up with the risk and there are ones who cant just able to accept nor able to play with fire and decides to avoid instead.

We know that each person does have different approach when it comes to Bitcoin or crypto as a whole where they do see that its a risky and unpredictable thing to involved with but there are ones who sees about on that opportunity side of things which i could say that it is really that normal.For those who do took the risk are the ones who could potentially make out some income and to those who had play safe
would miss out those possible opportunities.

leonair

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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

Cryptodebjoe

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Steady grinding

It all depends on the direct impact of the loan in comparison with your current financial position... Example i loaned money for a hair business for my wife but the products wasn't delivered and when they came the profit was poor and cost too high I decided to "save" the money by buying BTC only. I could never do that with any altcoin then 1 BTC was 20000USD.... It doesn't affect my feeding or rent I'm not waiting for any instant gain so I can wait on long term.... But getting a loan primarily for BTC that will affect other areas of your life isn't advisable....

cydrix

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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?

I think it is in between good and bad since taking a loan is risky when investing in cryptocurrency but if in bitcoin like right now is a good idea.

Taking loan and putting it on crypto is very risky due to its volatility, it may not affect you now but maybe in the future. Only invest what you can afford to loss.

stomachgrowls

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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

)

You wouldnt lose money as long you are holding it and not making some panic sell whenever the market do make out some dumping state or decreasing manner + they do have other sources of income on which they could

able to sustain up and wont really be relying into their bitcoin investment in speaking about repaying up those loan.There are people or most of them who do took loan would really be just basing and relying
into their crypto investment when it comes on repaying up their loan which its never been an ideal thing to do so.

You can take a loan whatever purpose you would be having in mind but be responsible if we do speak about repaying those.

nara1892

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Quote from: Obari on January 24, 2023, 03:53:16 AM

You have given the best advice so far and let he who has ears listen.
It is generally not right or advisable to borrow money to invest in Bitcoin or any other cryptocurrency because over the years, there have been cases of people who borrowed money to invest in Bitcoin and ended up messing their lives as a result of the high volatility associated with cryptocurrency. Please since the person is your friend, rather than verbally giving out your advice, I would advice that you also take it into action and ensure that your friend doesn't go against your advice of not borrowing to invest in Bitcoin.

If indeed when they see this condition they are able to then do it but if it is clear that it is like suicide it seems because regardless of anything it creates a condition where we have to borrow by paying installments for months it is clear this is very difficult to do so we really don't need to force it .
We know the conditions to be in bitcoin are very good but indeed this kind of thing is clearly like a gamble where everything is risked. I think in this condition it is clear that we have to think rationally because thinking about the future doesn't have to give us trouble now.

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