Can I take a loan to invest in bitcoin? - page 9.

irhact

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Quote from: nurilham on April 29, 2023, 05:33:40 PM

Anyway, it is true that taking a loan triggers financial stress and makes additional spending. That's why if it seems hard to repay the loan money, never think to take a loan. Taking a loan may be an instant way to get big money, but it is also a way to risk our financial stability and bother our financial plans for the future.

Immediately a loan is been taken, it put the taker under pressure of repayments and when they get into an investment under pressure, most results come out unsuccessful because the pressure of not wanting to lose that money might make the investor exit the investment too quickly for any slight uncomfort he feels which could just be a correction that'll bounce back after.

Bitcoin is a high risk investment and not advisable to take loans to invest in high risk investment. You might do it and become profitable but it shouldn't become a constant habit as at some point the market could dump then you get stuck on repaying a debt that wasn't of use to you which is very difficult to pay.

Cryptock

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Quote from: imamusma on April 24, 2023, 02:49:47 PM

Quote from: ammo121810 on April 24, 2023, 04:16:01 AM

For the sake of investing bitcoin do not be desperate to take a loan.

Not all loans are bad even if they are used as an investment budget.
You should classify loan risk differently between borrowers who have steady income but not a lot of savings and borrowers who don't have steady income who don't have a lot of savings. The two categories of borrowers have different risks associated with lending even if both plan to invest in bitcoin.

Quote from: ammo121810 on April 24, 2023, 04:16:01 AM

Taking loan might bring you to a much more higher interest rates and surcharges specially if your bitcoin investment goes down. If that happens you might not be able to pay your debt and the interests will go higher and higher. Better yet save some money and do not in a hurry to invest. There are still a lot of time you can invest. Do not risk on getting a loan because it can make your life miserable if you did not profit on your bitcoin investment.

Loans must be made as wise as possible which must be adjusted to the borrower's income.
If you don't have a steady income, then don't ever make a loan to invest. On the other hand, if you have a steady income but don't have a large budget to invest, then you may be safe from ask to loans within certain limits. In my opinion, the risks are definitely not the same between the two categories of borrowers above, so not all loans are bad.

that is correct - if you have done your homework right and you plan them properly- then surely not all the loan are bad loans
but for that you have to be be good dealing your finance

Cryptock

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Quote from: nurilham on April 29, 2023, 05:33:40 PM

Quote from: YUriy1991 on April 27, 2023, 03:14:50 AM

I think it's okay to take out a loan to invest in Bitcoin but it can increase your financial risk and create additional financial stress for yourself.

It is generally recommended to invest with funds that you can afford to lose without negatively impacting your financial stability. If you are unable to repay a loan, you may find yourself in deep debt and hurt your credit score, which can have long-term consequences on your financial health.

So, my advice is as much as possible to avoid loans even in any form unless it is clear that there is another post for the refund as plan 2 if it shifts.

Agree. If we have the ability to repay the loan, it is no problem to take a loan. However, it is always not recommended to invest in a high-risk investment like Bitcoin with loan money. I think loan money can be used for safe investments such as land or gold. These investments don't have high volatility in their values, so it is not too risky if we use loan money on them.

Anyway, it is true that taking a loan triggers financial stress and makes additional spending. That's why if it seems hard to repay the loan money, never think to take a loan. Taking a loan may be an instant way to get big money, but it is also a way to risk our financial stability and bother our financial plans for the future.

You can take the risk if you can afford to lose the loan you have taken from the bank or from a friend.
Because bank will keep getting interest and friend won't wait either. I would cut down my expenses but I won't take the loan ever again in my life.

nurilham

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Quote from: YUriy1991 on April 27, 2023, 03:14:50 AM

I think it's okay to take out a loan to invest in Bitcoin but it can increase your financial risk and create additional financial stress for yourself.

It is generally recommended to invest with funds that you can afford to lose without negatively impacting your financial stability. If you are unable to repay a loan, you may find yourself in deep debt and hurt your credit score, which can have long-term consequences on your financial health.

So, my advice is as much as possible to avoid loans even in any form unless it is clear that there is another post for the refund as plan 2 if it shifts.

Agree. If we have the ability to repay the loan, it is no problem to take a loan. However, it is always not recommended to invest in a high-risk investment like Bitcoin with loan money. I think loan money can be used for safe investments such as land or gold. These investments don't have high volatility in their values, so it is not too risky if we use loan money on them.

Anyway, it is true that taking a loan triggers financial stress and makes additional spending. That's why if it seems hard to repay the loan money, never think to take a loan. Taking a loan may be an instant way to get big money, but it is also a way to risk our financial stability and bother our financial plans for the future.

Theones

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Quote from: Uruhara on April 27, 2023, 12:46:08 AM

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 right advice to your friend. And indeed making loans just to invest in bitcoin is too risky. and I would not suggest this to anyone. because normally investment can only be done if we have extra money or money that we are not going to use in the near future. because bitcoin investment will only be moderately profitable if it is held in the long term. So investing from loans is reckless. because the borrower is even prone to panic when he sees that the money invested in bitcoin has decreased in value due to a bearish market or a correction. but people who invest with their cold money will stay calm even if the market goes through a correction because they know that in the long term the price will go back up.

my suggestion would be the same - never invest loan money
because I once did the same and suffered so much and I am still not able to cope up with my finances.

wahyuagung26

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Quote from: Fara Chan on April 27, 2023, 03:40:10 AM

Quote from: Theones on April 24, 2023, 02:10:51 PM

I think its not a good idea to take loan and invest - I made this mistake once and I had suffered so much

And you certainly won't repeat that mistake again in the future, because you have experienced the suffering you experienced through investing with loan capital in the past, you have definitely made it a very valuable experience and lesson. This should also serve as an example for other people not to make loans if they want to invest, except for those who have a fixed income every month to pay off loans they make when they want to invest.

But it is also less specific because the name of capital through a loan will always provide a level of risk pressure that will be felt by the investor, besides that the benefits are also not very certain so that the level of income and profit that can be obtained by investors with the loan capital is also will not be that big because he is more concerned about how to pay off the loan, not thinking about how to get more profit with that capital.

Investment is work that involves uncertain or even uncertain risks, taking out loans and taking the initiative to make investments. We assume this is very ineffective in the sense of adding risk pressure on top of uncertain risks. basically people who often make loans are people where they are able to pay it off with their fixed monthly income.

And we agree with you that it's better not to make the same mistake by using the same method to make investments, it would be better for him to make a mistake first as an experience and mindset that makes him more productive in mastering investments.

erep

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Quote from: uswa56 on April 27, 2023, 07:39:43 AM

that's true, but we have to look at the type of loan first because not all loans will be burdensome to invest in Bitcoin, there are even loans that are very profitable.
I plan to borrow with a slightly longer term and low interest to invest long-term in Bitcoin, indeed it is very risky but the loan amount is still affordable for me to pay when the maturity date comes, in my opinion it is not so burdensome for me and the risks involved Face it, it's still quite worth it with all the possible benefits you can get.

Investment from all types of loans even without interest is not recommended, but if you insist on using loan funds with low interest it depends on each option and you must be prepared for bad risks, because you can cover the loan on time but the investment value is not guaranteed to be profitable for the long term long term, so it is better to allocate some of your savings to crypto investments so that you will focus on investing for long term profits.

gaston castano

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taking a loan if you have enough money to pay the installments every month is also not wrong,
what's wrong is when you take a loan but don't have the money to pay it monthly because your friend's job or income isn't fixed every month.

uswa56

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Quote from: Fara Chan on April 27, 2023, 03:40:10 AM

Quote from: Theones on April 24, 2023, 02:10:51 PM

I think its not a good idea to take loan and invest - I made this mistake once and I had suffered so much

And you certainly won't repeat that mistake again in the future, because you have experienced the suffering you experienced through investing with loan capital in the past, you have definitely made it a very valuable experience and lesson. This should also serve as an example for other people not to make loans if they want to invest, except for those who have a fixed income every month to pay off loans they make when they want to invest.

But it is also less specific because the name of capital through a loan will always provide a level of risk pressure that will be felt by the investor, besides that the benefits are also not very certain so that the level of income and profit that can be obtained by investors with the loan capital is also will not be that big because he is more concerned about how to pay off the loan, not thinking about how to get more profit with that capital.

that's true, but we have to look at the type of loan first because not all loans will be burdensome to invest in Bitcoin, there are even loans that are very profitable.
I plan to borrow with a slightly longer term and low interest to invest long-term in Bitcoin, indeed it is very risky but the loan amount is still affordable for me to pay when the maturity date comes, in my opinion it is not so burdensome for me and the risks involved Face it, it's still quite worth it with all the possible benefits you can get.

jeraldskie11

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Quote from: YUriy1991 on April 27, 2023, 03:14:50 AM

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's okay to take out a loan to invest in Bitcoin but it can increase your financial risk and create additional financial stress for yourself.

It is generally recommended to invest with funds that you can afford to lose without negatively impacting your financial stability. If you are unable to repay a loan, you may find yourself in deep debt and hurt your credit score, which can have long-term consequences on your financial health.

So, my advice is as much as possible to avoid loans even in any form unless it is clear that there is another post for the refund as plan 2 if it shifts.

I agree. If you plan to take out a loan to invest in Bitcoin, be sure the payback period is long and the interest rate is low. We all know that the price of Bitcoin will eventually reach $100,000, but we don't know when that will be. That's why it's not a smart idea to take out a loan with a short repayment period because you'll almost certainly run into troubles. Think cautiously if you want to take out a loan before to invest in Bitcoin to avoid such troubles in the future.

Fara Chan

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Quote from: Theones on April 24, 2023, 02:10:51 PM

I think its not a good idea to take loan and invest - I made this mistake once and I had suffered so much

And you certainly won't repeat that mistake again in the future, because you have experienced the suffering you experienced through investing with loan capital in the past, you have definitely made it a very valuable experience and lesson. This should also serve as an example for other people not to make loans if they want to invest, except for those who have a fixed income every month to pay off loans they make when they want to invest.

But it is also less specific because the name of capital through a loan will always provide a level of risk pressure that will be felt by the investor, besides that the benefits are also not very certain so that the level of income and profit that can be obtained by investors with the loan capital is also will not be that big because he is more concerned about how to pay off the loan, not thinking about how to get more profit with that capital.

YUriy1991

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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's okay to take out a loan to invest in Bitcoin but it can increase your financial risk and create additional financial stress for yourself.

It is generally recommended to invest with funds that you can afford to lose without negatively impacting your financial stability. If you are unable to repay a loan, you may find yourself in deep debt and hurt your credit score, which can have long-term consequences on your financial health.

So, my advice is as much as possible to avoid loans even in any form unless it is clear that there is another post for the refund as plan 2 if it shifts.

Uruhara

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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 right advice to your friend. And indeed making loans just to invest in bitcoin is too risky. and I would not suggest this to anyone. because normally investment can only be done if we have extra money or money that we are not going to use in the near future. because bitcoin investment will only be moderately profitable if it is held in the long term. So investing from loans is reckless. because the borrower is even prone to panic when he sees that the money invested in bitcoin has decreased in value due to a bearish market or a correction. but people who invest with their cold money will stay calm even if the market goes through a correction because they know that in the long term the price will go back up.

Unbunplease

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Usually the attempt to take a loan does not end well, because when you get a loan, you will pay not only the loan, but also the interest on it. So the expected return on the loan should be much higher than the loan itself. This raises the question - can we now expect more profits from investing in bitcoin. If so, when?

Crypt0Gore

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Taking loan is a life-threatening plan for those who have not much money in their lives, you can't be broke or lack something valuable in your life and decide to go for loan, this is why we see people taking their own lives once they are able to pay back the loan they took, this is also why I said that loan can be life threatening.

Loan do work for some people, in fact some made it in life through loans, but majority end up having way more debt on their neck than they are supposed to, if I have to take loan I would have already own some valuable items or things like lands, properties and so on, so if what I don't expect happens I will have to sell some of my valuable item to pay back the loan.

Taking loans to invest in Cryptocurrency can be life threatening, you are warned, nothing is more important than lining a peaceful life.

BRINIRHA

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Quote from: Pierre 2 on April 26, 2023, 04:32:46 AM

Me as crypto bull, definitely do not suggest taking a loan to buy Bitcoin. If you are living on wage, taking a loan may be very bad decision to completely affect your life in terrible way. You should always measure your spendings through your money so buying bitcoin must be part of your "savings". But sometimes banks may issue %0 or nearly zero (like 0.3-0.5) rate loans to new customers. I think its possible to buy Bitcoin through such kind of loan.

Correct. Taking a loan to be placed in a high-risk investment is certainly not the right thing to do. Because investing in Bitcoin must be done for the long term if you want to get a maximum profit. Meanwhile, loan money, of course, must still be paid in a relatively short period of time or in installments every month. and it may indeed affect the flow of expenditure to become more irregular. Unless that person does have a stable income and also quite a lot so that he is sure he will be able to pay loan installments to the bank on time at all times. However, the question is if he has a stable income and is able to pay loan installments to the bank properly every month, then isn't it better for someone to do DCA on bitcoin. So that he does not have to have a loan burden every month. especially if it's a loan with high interest. whatever it is, it is better for us to avoid loans.

Pierre 2

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Me as crypto bull, definitely do not suggest taking a loan to buy Bitcoin. If you are living on wage, taking a loan may be very bad decision to completely affect your life in terrible way. You should always measure your spendings through your money so buying bitcoin must be part of your "savings". But sometimes banks may issue %0 or nearly zero (like 0.3-0.5) rate loans to new customers. I think its possible to buy Bitcoin through such kind of loan.

panganib999

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Quote from: mk4 on January 22, 2023, 08:55:48 AM

We have a couple of older topics concerning loans and bitcoin. Majority of people's opinions in the replies still stand.

Topic: How weird is it to borrow money and invest into Bitcoin? https://bitcointalksearch.org/topic/--5356144
Topic: Loans are cheap good time to use loans for Investment in btc https://bitcointalksearch.org/topic/loans-are-cheap-good-time-to-use-loans-for-investment-in-btc-5300041
Topic: Maxing Out Credit Cards to Buy Bitcoin https://bitcointalksearch.org/topic/maxing-out-credit-cards-to-buy-bitcoin-3048436
Topic: Taking a loan to buy bitcoin https://bitcointalksearch.org/topic/taking-a-loan-to-buy-bitcoin-349101

Great help for newbs in this forum. props to making this space a littlel better every time mk4!

As with age-old question of is it okay to buy bitcoin using money you took out on a debt, I think my answer has changed over time. 2017 me would severely go against using loans as capital for investments, but that changed over time I suppose because I stopped projecting my old insecurities about financial stability back then. But I digress.

Nowadays, if you ask me whether it's okay or advisable to take a loan then invest it in crypto, I'd say it depends. Is the loan you're taking something that you could pay in full when push comes to shove? Are you not going to bankrupt yourself if you take this loan out? What are your collaterals in case things don't go well for you and you can't pay on time? If you have answers to these questions that are desirable, then by all means take that loan and invest it in bitcoin. If no, then don't!

Altryist

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Quote from: Sterbens on April 25, 2023, 10:36:43 AM

it's okay to invest using a loan with the conditions as you said, first of all you have to think carefully about the risks. Because this will really disturb someone's psychology when you can't do it according to plan. Many people despair because of the impact of using borrowed money incorrectly. In my opinion, it is not good if we borrow money for investment capital. This is not the place. it would be nice to use the remaining money from our salary, even though the Bitcoin price suddenly dropped there we didn't lose too much because the money we use is our own money and is not tied to a return time.

I think that a loan is a bad idea, especially if it concerns anything that requires long-term investments. The loan can be used to develop an existing business that is established and brings a stable income. But even to start a business, I would not take a loan, because there are big risks that the business at the initial stage can not work as you expect it, and the loan will become another expense column that will need to be paid. I know everyone want to get a quick result and often we think that we can use borrowed money for this, but I have seen many examples where this led to a dead end and created very large debts that people had to pay off for years.

Dickiy

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Quote from: Sterbens on April 25, 2023, 10:36:43 AM

Quote from: Dr.Osh on April 25, 2023, 09:09:06 AM

besides, think about the risks. If your plan doesn't go according to what you think, can you pay interest installments every month, or can you pay off the loan you have when the bitcoin price doesn't match what you expect. If you have thought of all the risks, then you are free to make a loan. however, I don't think it's a wise thing. It's a good idea to use a few percent of your monthly salary to invest. it's better than borrowing when you don't really need it.

it's okay to invest using a loan with the conditions as you said, first of all you have to think carefully about the risks. Because this will really disturb someone's psychology when you can't do it according to plan. Many people despair because of the impact of using borrowed money incorrectly. In my opinion, it is not good if we borrow money for investment capital. This is not the place. it would be nice to use the remaining money from our salary, even though the Bitcoin price suddenly dropped there we didn't lose too much because the money we use is our own money and is not tied to a return time.

With the meaning that don't be too pushy in something that you are not good at, like investing if you force yourself to use borrowed money from anyone it will disrupt the previous financial stability that was smooth because there is new responsibility to pay bills every month, and again When buying bitcoin at more than today's price it will create anxiety which will affect mental health, that is a more dangerous risk that can push us to sell at a loss.
Yes, the best option is to use a small portion of the remaining monthly money to buy bitcoin, I think if you do it regularly, then the bitcoin you have must have a decent amount.

Topic: Can I take a loan to invest in bitcoin? - page 9. (Read 4169 times)