Can I take a loan to invest in bitcoin? - page 8.

Theones

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Quote from: usekevin on May 01, 2023, 07:59:03 PM

If you take the loan,their was huge risk for the investment,if you lose the investment.Instead you can save money first and save on the crypto currency in the long run.Separate the fifty percentage of income to savings and spend remaining to your own expenses.If you are ready to take risk,you can get the money with the minimum interest with the maximum period.So you can invest in bitcoin and holding for the longer period.Because the market response will be slow and steady one.It take some to the bitcoin price to increase to high value.

one should be very careful while making an investment people would get your money on the name of investment and would run away that is the common practice
these days and it happened in the past too.

Cryptock

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Quote from: usekevin on May 01, 2023, 07:59:03 PM

If you take the loan,their was huge risk for the investment,if you lose the investment.Instead you can save money first and save on the crypto currency in the long run.Separate the fifty percentage of income to savings and spend remaining to your own expenses.If you are ready to take risk,you can get the money with the minimum interest with the maximum period.So you can invest in bitcoin and holding for the longer period.Because the market response will be slow and steady one.It take some to the bitcoin price to increase to high value.

because you are making a investment and you would not know what will be a result of that you might hardly be lucky to get profit out of it. So taking loan and investing is surely not a suggested option.

Wong Gendheng

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Bitcoin and some cryptocurrencies are now increasingly popular and I've seen banks who open cryptocurrencies services, even they provide the opportunity to take debt for investment cryptocurrencies, in my opinion taking a loan for investment bitcoin is normal and natural, if anyone dares to buy a car to buy a car to buy a car to buy a car Then after a year the value of the car dropped but Invest Bitcoin has the opportunity to be a big profit.

xSkylarx

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Quote from: yohananaomi on May 04, 2023, 01:57:20 AM

Quote from: smile1218 on May 02, 2023, 03:30:13 AM

Taking a loan to invest in bitcoin is a No for me. It is ok to take a loan if your going to use it to put up a business, because if you will put up a business you will pursue to generate income because of your obligation to pay the loan you had acquired. But using it to invest in bitcoin and other crypto currency definitely not advisable because it is very much risky, we all know how volatile the market is and many testimonials scattered in the internet that they took a loan then they ended up loosing the loan they had invested.

As long as the loan is indeed used properly for investment, I don't think there's anything wrong even though as you said that it's too risky it's better to use it for business. whether business is also not a problem, of course it is the same as investment because business and investment are one and the same thing.
but you really have to have a good basis if you really want to invest in bitcoin because like you said that the market is not easy to predict. therefore it must have a basis that can allow no wrong analysis.
if possible, when approaching the halving period, just make an investment, which may be a rather small risk due to the repetitive nature of bitcoin.

In business you can control things like lets say before putting up you have a feasibility study that your business here is successful as there are a lot of customers there but in bitcoin you cant control things i mean it is a passive income that you wont be doing anything which also means that if the price goes down your choice only is to keep losing or cut your loses. It is more riskeir to invest in bitcoin than in business but again everything has risk , find the risk the worth risking for.

axxo

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Taking a loan to invest in Bitcoin can be very risky and should be done only by professional investors because they do know the pros and cons of taking a loan. It is very important to make a research and study the advantages and disadvantages of taking a loan and evaluate your financial condition if you are capable or not capable to pay.

In taking a loan it can give you the ability to invest more money in bitcoin, but due to high volatility of bitcoin the risk of loss is possible. If you invest a borrowed money the risk of losing might increase more than you can afford to pay. If ever that happens the interest payments will get higher monthly plus surcharges and late penalties.

So taking a loan for me is not advisable in investing in bitcoin.

yohananaomi

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Quote from: smile1218 on May 02, 2023, 03:30:13 AM

Taking a loan to invest in bitcoin is a No for me. It is ok to take a loan if your going to use it to put up a business, because if you will put up a business you will pursue to generate income because of your obligation to pay the loan you had acquired. But using it to invest in bitcoin and other crypto currency definitely not advisable because it is very much risky, we all know how volatile the market is and many testimonials scattered in the internet that they took a loan then they ended up loosing the loan they had invested.

As long as the loan is indeed used properly for investment, I don't think there's anything wrong even though as you said that it's too risky it's better to use it for business. whether business is also not a problem, of course it is the same as investment because business and investment are one and the same thing.
but you really have to have a good basis if you really want to invest in bitcoin because like you said that the market is not easy to predict. therefore it must have a basis that can allow no wrong analysis.
if possible, when approaching the halving period, just make an investment, which may be a rather small risk due to the repetitive nature of bitcoin.

smile1218

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Taking a loan to invest in bitcoin is a No for me. It is ok to take a loan if your going to use it to put up a business, because if you will put up a business you will pursue to generate income because of your obligation to pay the loan you had acquired. But using it to invest in bitcoin and other crypto currency definitely not advisable because it is very much risky, we all know how volatile the market is and many testimonials scattered in the internet that they took a loan then they ended up loosing the loan they had invested.

BobK71

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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?

It has always been said that Bitcoin is a very volatile cryptocurrency where there is no fixed period of time in which you can profit from the investment. The cost of investment increases as monthly installments are to be paid against the borrowed or loan money. That is why it is never advised to invest in Bitcoin by borrowing or lending. However, many have strong faith in Bitcoin and are encouraged to invest for a long time so that they can earn big money at any time. Normally you should invest money that you can afford to lose. You can borrow if you have credit or other earning facilities to repay the loan.

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Quote from: Vishnu.Reang on May 01, 2023, 10:14:01 PM

when we talk about investment in general, Some times in people's life taking loan become necessary for higher study or constructing home etc but just to invest in bitcoin or digital currency like BTC is not right choice because when you take loan at the same time you must repaid interest to the bank then what is the benefit of taking loan? yes, it is true that you can make big profit if luck is in your favour but there is no guarantee that can make profit, sometimes it goes on lost as well that time you can't bear the lost if you invest in bitcoin from loan.

Why can you borrow money to build a house when you shouldn't borrow money to invest? While the purpose of investment is to make more money. I think once you have borrowed money, no matter what you use it for, it is already a burden for you.

For me, getting a loan will be based on our circumstances. If you have a steady income job but because of some incident, you don't have the money to invest or build a house at the moment, you can also get a loan to meet your needs. As long as you can afford to pay that loan with your income, getting a loan should be no problem. But if you are unemployed and looking for something to get rich quickly, borrowing money to invest is the dumbest idea.
I am a person who used to borrow money for business, and I think it is not as bad as many people fear, always have a clear and reasonable plan, we do not need to be too stressed.

kotajikikox

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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?

You have given the great advise already , and the simplest explanation ? "never Invest the money that is allocated or reserve for your family "
just give the money that is not really important(though Money by all means are important , but atleast not for the coming days or years)
the golden rule that everyone have never forget(but sometimes because of greed , becoming stupid) Invest what you can afford to be gone forever lol.

mamesso

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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

What is your advice?

Isn't investing in Bitcoin and other Cryptocurrencies like a double-edged sword, at certain times you can get multiple profits, at other times it can make poor investors overnight. It is not recommended to invest in Bitcoin using borrowed money, there are lots of risks that will be hit if the investment value decreases due to corrections that occur in the market. Who can guarantee that borrowed money can generate profits from Bitcoin investments?

Don't be easily tempted by big profits in a short time because Bitcoin investment is unpredictable when it will go up or down. Remember, whatever the investment instrument is, there is definitely a risk of loss. It is highly recommended to use cold money to minimize risk.

Vishnu.Reang

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when we talk about investment in general, Some times in people's life taking loan become necessary for higher study or constructing home etc but just to invest in bitcoin or digital currency like BTC is not right choice because when you take loan at the same time you must repaid interest to the bank then what is the benefit of taking loan? yes, it is true that you can make big profit if luck is in your favour but there is no guarantee that can make profit, sometimes it goes on lost as well that time you can't bear the lost if you invest in bitcoin from loan.

usekevin

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If you take the loan,their was huge risk for the investment,if you lose the investment.Instead you can save money first and save on the crypto currency in the long run.Separate the fifty percentage of income to savings and spend remaining to your own expenses.If you are ready to take risk,you can get the money with the minimum interest with the maximum period.So you can invest in bitcoin and holding for the longer period.Because the market response will be slow and steady one.It take some to the bitcoin price to increase to high value.

Desmong

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Quote from: Cryptock on May 01, 2023, 04:39:29 PM

Quote from: ZAINmalik75 on May 01, 2023, 02:55:02 PM

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

"Can I take a loan to invest in bitcoin"
What is your advice?

Taking loan for the investment in Bitcoin will not be a wise decision because Bitcoin is known for his volatile moment and it may cost you loss in short term investment. But in long term it may give a profit but the amount of interest will be huge at the time of repayment so it never worth good in both cases.
So my opinion will be to stay away from loan in matter of investment in cryptocurrency, if you are really Bitcoin fan and want investment then go out and earn with hand works and invest small small amount of your earning through DCA, It will worth more because there will no pressure and headache of repayment.

Investment can go wrong - you could have been scammed for no reason
Yesterday my friend's brother told he invested his pension money and lost the whole amount - he had a cardiac arrest and he passed away because he took and was unable to pay off.
I hate investment plans now.

Taking loan should have a lot of carefulness if not the bank that we borrowed money from might fight us to claim everything that we own. We need to make sure that we invest what we know we can because if we go to bank and borrow loan and use it in the wrong aspect, we might end up making a severe mistake that would hurt us tomorrow if we are not that careful enough to know.our right from our left.

Hamphser

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Quote from: Cryptock on May 01, 2023, 04:39:29 PM

Quote from: ZAINmalik75 on May 01, 2023, 02:55:02 PM

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

"Can I take a loan to invest in bitcoin"
What is your advice?

Taking loan for the investment in Bitcoin will not be a wise decision because Bitcoin is known for his volatile moment and it may cost you loss in short term investment. But in long term it may give a profit but the amount of interest will be huge at the time of repayment so it never worth good in both cases.
So my opinion will be to stay away from loan in matter of investment in cryptocurrency, if you are really Bitcoin fan and want investment then go out and earn with hand works and invest small small amount of your earning through DCA, It will worth more because there will no pressure and headache of repayment.

Investment can go wrong - you could have been scammed for no reason
Yesterday my friend's brother told he invested his pension money and lost the whole amount - he had a cardiac arrest and he passed away because he took and was unable to pay off.
I hate investment plans now.

Investing your pension money? This is something the most risky thing to be considered on doing so. As long you are owing yourself or having some loans just to take out some investment decisions.Well it does really
need up some particular risks for you to make yourself that progress in towards your finances which it would really be that normal that you would really be needing to take risks for you to have that chance.
If you could pay up your loan in time and dont have any issues in regarding to it, then it wont really be that a bad idea for you to take up some loan.

The only issue of someone who does take a loan is on the repayment on which if you do rely on your bitcoin investment profits then it would be not recommendable for you to do so or proceed on.
Every action does have its particular risks and be wary and be mindful about it because if you dont then you would really be putting yourself into much trouble.

BVeyron

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Quote from: Crypto Library on January 22, 2023, 06:09:27 PM

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

What is your advice?

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.

This is the best attitude. I doubt that loans are effective in any kind of investments, and if it comes to long-term (stablecoins can be considered now as long-term), credits are surely not an option: monthly payments are imminent, while monthly income is impossible...

og kush420

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Quote from: ZAINmalik75 on May 01, 2023, 02:55:02 PM

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

"Can I take a loan to invest in bitcoin"
What is your advice?

Taking loan for the investment in Bitcoin will not be a wise decision because Bitcoin is known for his volatile moment and it may cost you loss in short term investment. But in long term it may give a profit but the amount of interest will be huge at the time of repayment so it never worth good in both cases.
So my opinion will be to stay away from loan in matter of investment in cryptocurrency, if you are really Bitcoin fan and want investment then go out and earn with hand works and invest small small amount of your earning through DCA, It will worth more because there will no pressure and headache of repayment.

there are some really good pieces of advices you get from this group - I read them thoroughly and they have helped me in making up my mind
Most of the members did not support the idea of taking loan and investing

Cryptock

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Quote from: ZAINmalik75 on May 01, 2023, 02:55:02 PM

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

"Can I take a loan to invest in bitcoin"
What is your advice?

Taking loan for the investment in Bitcoin will not be a wise decision because Bitcoin is known for his volatile moment and it may cost you loss in short term investment. But in long term it may give a profit but the amount of interest will be huge at the time of repayment so it never worth good in both cases.
So my opinion will be to stay away from loan in matter of investment in cryptocurrency, if you are really Bitcoin fan and want investment then go out and earn with hand works and invest small small amount of your earning through DCA, It will worth more because there will no pressure and headache of repayment.

Investment can go wrong - you could have been scammed for no reason
Yesterday my friend's brother told he invested his pension money and lost the whole amount - he had a cardiac arrest and he passed away because he took and was unable to pay off.
I hate investment plans now.

Theones

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Quote from: ZAINmalik75 on May 01, 2023, 02:55:02 PM

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

"Can I take a loan to invest in bitcoin"
What is your advice?

Taking loan for the investment in Bitcoin will not be a wise decision because Bitcoin is known for his volatile moment and it may cost you loss in short term investment. But in long term it may give a profit but the amount of interest will be huge at the time of repayment so it never worth good in both cases.
So my opinion will be to stay away from loan in matter of investment in cryptocurrency, if you are really Bitcoin fan and want investment then go out and earn with hand works and invest small small amount of your earning through DCA, It will worth more because there will no pressure and headache of repayment.

but on the condition that you do proper home work and invest bit by bit and take good decision
my friend valut got hacked and he could not do anything - while he was doing good with bitcoin.

ZAINmalik75

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

"Can I take a loan to invest in bitcoin"
What is your advice?

Taking loan for the investment in Bitcoin will not be a wise decision because Bitcoin is known for his volatile moment and it may cost you loss in short term investment. But in long term it may give a profit but the amount of interest will be huge at the time of repayment so it never worth good in both cases.
So my opinion will be to stay away from loan in matter of investment in cryptocurrency, if you are really Bitcoin fan and want investment then go out and earn with hand works and invest small small amount of your earning through DCA, It will worth more because there will no pressure and headache of repayment.

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