Topic: Can I take a loan to invest in bitcoin? - page 27. (Read 4169 times)

It's worthy it if you've got a continuous cash flow and a business that brings profit. But if you're just thinking that you'll be dependent to the profit of investing in bitcoin, it's highly discouraged.
I've read horrible stories that has been shared here before that they've taken a loan at the high of the market and then bought bitcoin but, the market has dropped significantly and they've got no other means of paying it.

Awful idea because of the volatility possible.   Seems like a very smart idea to do this but most loans are fixed term based and BTC can take many years to develop fully.   Problem is though unlikely BTC can still goto 10k from here, it shouldnt but its a highly speculative asset at this moment and you have many possible sellers vs dollar.
   Also time and again we see the market seems to search out weak spots and weak holders until all possible supply of 'loose' BTC is squeezed dry we dont tend to find a solid bottom pricing for BTC.   We can guess we've done that but imo thats only true if dollar index does not keep on rising back.   Very possible is negative economic news over the next year, possible recession which will blunt market optimism and send people searching for Dollars once again putting BTC under pressure. I do not see 2023 as being a clear road ahead, this action is not easy as it might appear to be.

This is actually good advice already and coming from a newbie like you, that means you have a sound understanding of how cryptocurrency is working. Good for you.

Generally, it is bad to take a loan to invest on something. It is best if you use money that you have saved for that purpose to invest in anything. There are just too many downsides on using loan money for investment.

Another is, I am thinking that he still does not have money, so while saving, he should this time to invest in learning how cryptocurrency works and find out if it is really for him. Not everyone can understand how it works and accept the risk that entails in investing bitcoin. If he has to ask others whether to invest or not, that means he is not prepared for it. He may blame the friend who advised him to invest if the investment fails. It is best if he decides it for himself.

Another case if you borrow money to invest in gold maybe it's still acceptable,
but for clear crypto investment it will be very risky and not recommended,
Obviously I completely agree with what you said.

don't push yourself too hard investing in crypto, because this is not an easy and easy thing.
you have to be prepared for all the consequences, because this is an investment, and it requires thinking that is filled with knowledge about investing in crypto.
invest as much as you can, and you will appreciate the results you get.

This I a bad idea because as you mention, if the price drops then your friend could have some problems paying back the money.

Would be nice to know more details about what kind of loan is she getting, the time and the interest are important factors for the decision, if it's a long-term loan with a low interest then it could work fine. But if the interest is high, then is not a good business at all to do it.

My advice is no because bitcoin is very volatile, and nobody knows when bitcoin will go up again, maybe next year or maybe 10 years later, bitcoin will go up again. So, borrowing money to invest in a volatile asset is too risky to try. Investing is for profit and comfort in life, not to create more pressure on yourself.

If you are sure that you are able to pay it in time and by all means, you have a loan and invest it in Bitcoin or any other profitable venture.  But if you are unable to pay your loan then don't even think about it. 

I always think that having a loan to invest in a possible profitable venture is worthy of paying for interest.  As long as we are sure that we can pay them I do not see any problem on taking loans, besides if it is a loan that can possibly change our life then why not.

In my personal opinion,'I put that rules in first when I am going for a investment 'invest as much as you can afford to loose' and I always obey this rules in every investment of mine.  Although I don't expect to lose funds invested in Bitcoin, its high volatilities can put anyone at risk from such a loan investment.
So it will be better always investment from your own pocket and if you don't have much fund for investment then took a long-term strategy for you invest like ' invest 10 dollar in btc every week for 5years or more or less' . I want to be satisfied with little without greed , so don't get on greedyness trap so investment as much as you can afford.

I would advice to buy bitcoin from your own pocket, I don’t like debt, some of my friends are still stuck paying student loans which have piled up over the years. There are those who believe debt is not a bad thing, and try to use it to their benefit. Robert Kiyosaki for example talks about debt in a controversial manner that’s different from the norm. He’s successful though his investment strategies are unconventional. If you are one of those who share the belief that debt is money to used to start a business, I see no reason why you shouldn’t buy bitcoin with a loan.

Even though it can be done but as some colleagues have said here that it is a bad idea.
Even though many of us are gamblers but we don't need to risk everything when investing. when you are determined to do this, it is clear that your thinking will branch out in the end, such as having to think about how to pay off the installments of the debt you owe. it would be great if it had an instant profit but what if the market conditions are like now? at least we should think further about it.

This is not a good idea and is not welcomed by many people on the forum, but it still brings up one's point of view and how it's been interpreted. Borrow and invest only what you can afford to lose, or you'll be in debt for a long time, if not forever.

Bitcoin is volatile, and the volatility will undoubtedly affect the investment, causing it to profit or lose everything if caution is not exercised. Borrowing money to invest would be easier if bitcoin was predictable, as traders would know what the market would be like in the future.

The risk associated with Bitcoin investment is very high, which is why it is best not to invest anything you cannot afford to lose, let alone take out a loan to place a Bitcoin investment.

It is extremely risky to take out a loan for any investment because the outcome may not always be favorable. As a result, regardless of the price of Bitcoin, borrowing money is not recommended for Bitcoin investment.

When talking of taking a loan, we have methods of taking a loan, is either take a loan from family relatives or from money lender. But the well known and generally acceptable is to take a loan from bank which involves their terms and conditions which everyone of us here knows.
Taking a loan from family relatives is not a bad idea because it's understandable without any much pressure to payback. However, you must first understand the kind of investment you want to make at time and what types of coin and tokens you want to buy.

I.e, for bitcoin investment which involves only buying and holding I must say there's nothing wrong with it, but if you are buying bitcoin to send it out to any investment platform where you are told to invest and make 50 percent profit within 48hrs then I must tell you not to involve yourself with that because if you dare invest over there with the money you borrowed, well sorry is your name. Because all is gone but if you are borrowing to invest and hold for like 4 to 8 months, then it's 50/50 risk is either you gain or lose 50 percent of your investment that doesn't mean all funds is lost but would recover whenever the market bounces back. Nonetheless, only borrow what you can afford to pay within the next month or in 2 months time with external hustle or salary.

There have been quite a few people who created threads like this and indeed the answers are still valid for now.
We are not Saylors who always say borrow money for bitcoin. We just have to focus on ourselves in this matter as long as you can without relying on money why do we have to owe for it.
Actually it's not really why for some people but this is not the case for me because I still want to be a person without money so I want to push myself hard without taking loans but still able to be in bitcoin and until now nothing is different for me . Living smoothly without money and having a portfolio that is more than before why have to borrow if we can still do without it.

Do not take loan to invest, it must be risky.
If I were your friend, then I don't think I would loan just because I want to invest.
No one can guarantee that you will benefit from this investment, after all you will be burdened by the loan that is due. The best advice is, just invest from whatever amount you have, no matter how much it is, even if it's not much. You are safe with him (not about risk) because you are the owner of the budget.

My advice is no, this differs according to each person's thinking so for me I do not prefer to have a loan to invest in bitcoin, my nature is, I do not like borrowing because you will have to pay the debt later with interest and you may not be able to pay it on time.

In general, investing in bitcoin is profitable, but with regard to a loan, there is no guarantee that a significant increase in the price of bitcoin will occur during the loan period, and therefore you may be forced to sell at a loss until you pay off the loan.

That would definitely a smart piece of advice for those who are thinking that they will get a loan just to buy some crypto assets.
As this is a volatile market, you have no assurance if you will earn profits or return your investments at a period when you need it.
Just be contented on what you have to buy some coins. I know some are tempted to get a loan because of the high profits they are trying to chase.
However, if you will go to this route, you should have some collateral assets, so if anything goes wrong, you will not be buried deep with debts.

Well said,
Sometimes you just need to open up every possibilities so that they would know more.
I got those kind of questions from newbie's in crypto and sometimes they are even asking why I am not taking loans for my investment since I believe so much in crypto.
I would just tell them about the same thing crypto could go up or down real quick and taking loans would give you more stress because of the interest when you can't pay it on time.

My advice would be the same as before. I am just tired of seeing the same kind of topic popping out every day. Stop spamming the forum, man. There are a lot of similar topics already on the forum. Your advice is good and everyone will agree with you. But it doesn't mean that only this much information is good enough to considered to be a post.
I am not discouraging your posting method. You have the freedom to say whatever you want, because it's the freaking Bitcoin forum. It's just you should give a bit more effort on posting next time. So that people can learn more from your posts or get inspired.

Anyway, good job spreading the correct advice.