DO NOT invest credit money | Bitcointalksearch.org

Ferylero

newbie

Activity: 76

Merit: 0

Quote from: Micerker on March 21, 2018, 03:47:55 AM

Quote from: DrToken on March 19, 2018, 09:19:30 AM

Is it really possible to find a such irresponsible people who think that crypto is suitable and safe way to invest their CREDIT money? And I'm not talking about doubtful necessity of loans...

Many people have used credit loans to make money to invest in crypto. Many people trust the crypto as a way to become richer, and it is risk-free because this is a great market and lots of pinks. A crazy thought and should removed from the head of stupid people.

United Kingdom government has already made the first steps in this direction: you won't be able to buy crypto using your CC in UK

Micerker

full member

Activity: 593

Merit: 100

BBOD The Best Derivatives Exchange

Quote from: DrToken on March 19, 2018, 09:19:30 AM

Is it really possible to find a such irresponsible people who think that crypto is suitable and safe way to invest their CREDIT money? And I'm not talking about doubtful necessity of loans...

Many people have used credit loans to make money to invest in crypto. Many people trust the crypto as a way to become richer, and it is risk-free because this is a great market and lots of pinks. A crazy thought and should removed from the head of stupid people.

posi

hero member

Activity: 2268

Merit: 579

Vave.com - Crypto Casino

Quote from: RodeoX on March 19, 2018, 09:24:07 AM

It would be absolute stupidity to take out a loan to buy crypto. Rule one for any investor:

"Invest only an amount you are willing to COMPLETELY lose". Investing is risking capitol. Never borrow capitol, you obviously don't have money to risk if you have to borrow.

Nah. I think the rule one of every crypto traders and investors is not be greedy and over ambitious because if someone have both he or she won't listen to the warning and tips giving to him/her until they lose their money.

knightmairesaint

sr. member

Activity: 490

Merit: 262

privacy preserving smart contracts and beyond

What a silly decision a person could made if he invested into something coming from a credit or loan. For me that's not a healthy decision at all.

Many business minded people out there are being pushed to do this kind of act because they're lack of funds but I think it's still okay if they invested it in food business or other related stuffs but investing in crypto? I don't think that's a good idea since prices of coins in the market fluctuates rapidly. You cannot guarantee that you will earn here and you might face losses if you are carelless also.

If you want to invest in crypto, first make sure it's your own money so that you will not suffer from a large debt and take note, just invest only what you are willing to lose.

orions.belt19

full member

Activity: 686

Merit: 146

General rule of thumb: never get a loan for something you're not sure of. This applies not only to crypto investments, but to other liabilities as well. Some people are confident that they will be able to pay their credit in the future without considering any unforeseen circumstances. This is why cars, laptops or houses that are on loan are lost because of delinquent payers.

If there's no assurance that you are able to pay, then don't let yourself drown in debt. It's good that you have learned your lesson and shared it to others. A lot are still too greedy and go through extreme extents because they hope to gain profit. Not a lot first measure the risks and consider what they would do if the market goes down or when they don't realize any profit or even a return of investment.

Lumada

sr. member

Activity: 520

Merit: 250

Quote from: NavI_027 on March 19, 2018, 06:27:52 PM

I agree with you, you should not do a loan or sell some of your possessions just to invest in crypto. That's definitely a bad idea because there's a tendency that you will not able to pay back those credits since bitcoin's price sometimes inflates and sometimes deflates — meaning, hard to make a profit.

My tip is just invest your own money, the extra money coming from your own pocket and you are willing to take a risk here in crypto world.

It will just ruin your plan of saving and investing if we do it, do bounties before investing if have no capital. Just avoid having debts. It will not help you.

NavI_027

full member

Activity: 1232

Merit: 186

I agree with you, you should not do a loan or sell some of your possessions just to invest in crypto. That's definitely a bad idea because there's a tendency that you will not able to pay back those credits since bitcoin's price sometimes inflates and sometimes deflates — meaning, hard to make a profit.

My tip is just invest your own money, the extra money coming from your own pocket and you are willing to take a risk here in crypto world.

Indrawan77

hero member

Activity: 1274

Merit: 516

That is the things that I always say to my friends when they are interested in investing, but some of them are too stubborn, they saw a good profit and then used all of their money to invest some even pawn their car to invest in crypto, one thing that they failed to understand is, crypto currencies is very volatile and it contains a great risk of losing money, one wrong movement on investing it can make you lost a lot of money, some people are just too greedy and lazy to do research before investing

~Bitcoin~

legendary

Activity: 994

Merit: 1000

Many people have already lost their homes and cars while trying to ride the bitcoin wave investing money they have taken as loan from banks or from friends. This is the reason why many banks don't allow their users to buy bitcoin with their credit card, only debit card is allowed. Also they suggest their clients to not invest their money from loan in bitcoin or other crypto whose price is highly volatile.

goaldigger

sr. member

Activity: 2422

Merit: 357

This is what i mean when i say invest on the amount of money you can afford to lose. If your capital comes from credit then you have no reason to lose it and you have a limitted amount of time to return your capital. Its almost impossible to earn. Added the mindset where you are scared of putting it on a basket because of the fact that you might be lost and not return your borrowed capital.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: andreijoaquin on March 19, 2018, 04:17:08 PM

I think if you can loan from your current company with only 4% interest payable in 1 year then you invest in bitcoin, that can give a higher chance of success provided that you set a limit of earnings. Do not be so greedy a good return to suffice your cost and desired earnings is enough. I believe in a year bitcoin value will rise eventually so using loan amount for investment is not that bad I think.

That's not investing, but straight gambling. You completely discard a potential long term bear market, which in a market strongly depending on supply and demand isn't a smart thing to do. If you invest that money in Bitcoin, and the price keeps tanking, you are pretty much stuck in a desperate situation. Your monthly payments don't wait, you know that, right? Debt as in borrowed money is the worst possible debt you can have. In most cases if you fail payments, the interest rates can increase to a percentage of up to 25% in some cases, and that's recurring. If I read my bank's terms, failing to complete monthly settlements will result in 19% interest on top of what you have to pay, which is insane. I can't even blame them, because people are dumb enough to take out these loans, and thus they are responsible....

IvyAguas

jr. member

Activity: 69

Merit: 2

Investment as we all know is taking risk and chances, but it somehow requires good research and proper knowledge to decide which investment would probably give the best return. For those who have been in this industry for a long period now can actually choose the good item to invest with so if they are confident enough, using credit capital is really not that bad.

DanielRR1997

member

Activity: 196

Merit: 14

At the time of writing, the price of one Bitcoin is floating around $10,000, down a whopping $1,000 from earlier today. It’s up around 1,000 percent from where it was a year ago, and so it’s natural that people are piling on board the crypto bandwagon. But please, for the love of sanity and intelligent investing, don’t buy Bitcoin with a credit card. This isn’t some theoretical plea: “Bitcoin credit card” and “Buy Bitcoin with credit card” are trending hard on Google right now, with the spike in interest closely linked to the recent price spike. This is, to put it mildly, not a good thing.

andreijoaquin

jr. member

Activity: 173

Merit: 4

Quote from: Sivainvest on March 18, 2018, 08:32:49 AM

My friends, this advice I give you according to the experience of my friends. Invest in the cryptocurrency only honestly hard-earned by you money. In this case, you do not have to worry about the temporary jumps in the rate, you can safely wait for the moment when the price will rise to the desired level, and then you can sell at a bargain price. This will be the earnings. You cannot do same with credit money.

I think if you can loan from your current company with only 4% interest payable in 1 year then you invest in bitcoin, that can give a higher chance of success provided that you set a limit of earnings. Do not be so greedy a good return to suffice your cost and desired earnings is enough. I believe in a year bitcoin value will rise eventually so using loan amount for investment is not that bad I think.

Biscutard

full member

Activity: 759

Merit: 105

Quote from: Sivainvest on March 18, 2018, 08:32:49 AM

My friends, this advice I give you according to the experience of my friends. Invest in the cryptocurrency only honestly hard-earned by you money. In this case, you do not have to worry about the temporary jumps in the rate, you can safely wait for the moment when the price will rise to the desired level, and then you can sell at a bargain price. This will be the earnings. You cannot do same with credit money.

If your friend doesn't know the level of risk he should not bother to gamble on a borrowed money which means that your level of risk will be doubled. While without thinking the other possibilities will make him suffer in the end and i hope that your friend learn the lessons of it.

Rieeir

member

Activity: 99

Merit: 10

Quote from: Sivainvest on March 18, 2018, 08:32:49 AM

My friends, this advice I give you according to the experience of my friends. Invest in the cryptocurrency only honestly hard-earned by you money. In this case, you do not have to worry about the temporary jumps in the rate, you can safely wait for the moment when the price will rise to the desired level, and then you can sell at a bargain price. This will be the earnings. You cannot do same with credit money.

Are there really people who invest credit money? That's absurd! I would rather advise that the money you invest should not only be earned by yoursef, but it also should be so called free money, i.e. that sum of money that you are ready to lose if the investments do not turn into profit. Investing in ICOs is much like casinos just more legal and more predictable way.

zxl912157

sr. member

Activity: 588

Merit: 250

Quote from: martychubbs on March 19, 2018, 11:11:57 AM

Yeah iam shoked that many people ask credit money and after invest it in things like crypto currency and ICO , crypto is very high risk - invest credit money in crypto its triple riskly , if you loose you will loose triple money Sad

They do not know the risks of crypto trading, just tempted by money without analyzing the risk.
this is a stupid and very risky action, the effect is he blames the crypto and performs the wrong attack by saying fud.

Altcoins enthusiast

member

Activity: 490

Merit: 17

Quote from: Sivainvest on March 18, 2018, 08:32:49 AM

My friends, this advice I give you according to the experience of my friends. Invest in the cryptocurrency only honestly hard-earned by you money. In this case, you do not have to worry about the temporary jumps in the rate, you can safely wait for the moment when the price will rise to the desired level, and then you can sell at a bargain price. This will be the earnings. You cannot do same with credit money.

You have said the truth op because using other people money for your investment. Bitcoin is highly volatile and one has to be patient with the market before investing into bitcoin and cryptocurrency and make good profits. If you invest credit money? Panic will be their to limit you in making right decisions. We may need to really follow op advise in other for people not to call us scam.

gatti

full member

Activity: 382

Merit: 109

Quote from: Sivainvest on March 18, 2018, 08:32:49 AM

My friends, this advice I give you according to the experience of my friends. Invest in the cryptocurrency only honestly hard-earned by you money. In this case, you do not have to worry about the temporary jumps in the rate, you can safely wait for the moment when the price will rise to the desired level, and then you can sell at a bargain price. This will be the earnings. You cannot do same with credit money.

Many of the traders will hold the coins ,instead of selling bitcoin at some price and buying the same with the next maximum price.
If you are trader with low capital,this will be the best option to some hug amount of bitcoin.

boyshx

sr. member

Activity: 574

Merit: 251

Quote from: RodeoX on March 19, 2018, 09:24:07 AM

It would be absolute stupidity to take out a loan to buy crypto. Rule one for any investor:

"Invest only an amount you are willing to COMPLETELY lose". Investing is risking capitol. Never borrow capitol, you obviously don't have money to risk if you have to borrow.

Ah! Completely straight forward and very convincing rule. I think people think that getting money out of credit card is nothing but the free money which they can trade and get it paid back along with the interest rate immediately. But thats not the case and they fail almost every time they do it so. I think investing into crypto is not a joke and the only practical way to approach it would be investing your money which is spare, or from savings or an amount which you are not going to need for long period of time. An amount which is completely secure to trade and doesn't carry any charges over it. So that would be silly to get it done with the credit card.

Topic: DO NOT invest credit money (Read 260 times)