DO NOT invest credit money | Bitcointalksearch.org

Ferylero

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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.

bitbunnny

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Every investor should know the first rule - invest only money that you don't need and not more than you can afford to lose.
But many are forgeting about that, getting greedy and thinking they can get rich over night.
No one can't guarantee that you will be able to return the money from the loan and get the profit, the risk is too big.
But this also shows that there are only few realy good investors who know what they are doing.

gantez

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Quote from: Dimanman113 on March 19, 2018, 12:45:29 PM

Hello friends! I agree with you that there is a big risk of investing with credit money, that this is the No. 1 rule in investing. But I disobeyed, took a chance. When I increased my capital three times a month on Ripple, I was very happy! But now my portfolio is worth as much as it invested. Now I understand that I made a mistake! I pay a loan from another income.

Lucky you friend. The matter of taking credit to invest and succeeding is really very little in proportion out of those who don't succeed. It is understanding that sometimes , a business transaction looks promising.

Dimanman113

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Hello friends! I agree with you that there is a big risk of investing with credit money, that this is the No. 1 rule in investing. But I disobeyed, took a chance. When I increased my capital three times a month on Ripple, I was very happy! But now my portfolio is worth as much as it invested. Now I understand that I made a mistake! I pay a loan from another income.

Bdstar

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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 also agree with you on this point, It's absolutely true that this temporary ups and down will not sustain for a long time. so don't get fed up with the investment if you have.
it's also not a wise decision for investing money from your credit. You have to invest only with your idle money and this will make you rich when the price will go up. so take a risk with your idle money for that you don't have to face any challenge in your daily life.

palle11

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Investing with a borrowed money is risky more especially when you do that with mortgage. You can lose your property if things don't work as planned in the investment.

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

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.

Is now getting clearer why users get in happy mood is activated sometimes. I guess at such time, hopes of repayment comes alive Grin

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tdrinker

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The people who do this are the same people who think that they have a way to beat the house in traditional gambling games like roulette. It may work out for them in the short-term but if they continue to do it then eventually their luck will run out and they're going to be in a whole world of shit. It's bad enough losing everything you've invested in to something, let alone being in debt because that investment went sour.

martychubbs

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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

peterthegreat

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I would say don't even invest your hard earned money, invest only the money you can afford to lose and the extra cash you have that you don't care about. Crypto is still a very high risk investment and one can never be sure how long a bear cycle will go on for.

FrueGreads

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Doing a risky investment as putting money in crypto with credit is a very dangerous thing, and no one should do it. You already have the risk associated with crypto investment and you will be adding extra exposure to credit? That's suicide, and I completely understand why banks are boycotting crypto purchase with credit cards.

I'm not advising not to buy crypto. Quite the contrary, but people should, as for any type of investment, only invest what they can afford to lose, so there is no point in investing money you don't even have.

frowsiter

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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.

Its true because that can get us into trouble of interest rates that are insured by the bank. They levy huge interest rates on the credit card cashing out or even the only purchases and in this instance the bitcoin over the crypto exchange. I think people might just think that they can cover the interest amount as well as can get huge principle on the bitcoin spikes to get huge profits. But thats not true as interest rate incurred on the credit purchases are even higher than what we can receive from the bitcoin earnings itself. It could you heart attack if price drops like current one happens after buying it with credit cards. Lolz. Its funny but true.

Leon2_18

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Investment is a risk. I agree, you should never take out a loan to invest somewhere....You can only invest what you can afford lost.

Koro-Sensei

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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.

Well basically that is what it is. Like holding a USD currency but no jump and dump value and you can convert each time you want right? Like having an automatic buy and sell function on a trading site but not totally. We do have this kind of app that can hold no dump and pump currency and convert it on crypto currency.

malikusama

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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.

Yeah it is the first rule to invest in cryptos that "invest what you can afford to lose", so don't ever borrow money because what could happen no one knows in this unpredictable market.
The pressure of borrowed capital is 2x times then your own capital and due to this most of the times panic sellers lose everything under-pressure.

RodeoX

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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.

DrToken

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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...

squatz1

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People will never understand this, or they don't want to understand this. People are always going to have the greed inside them, the greed that's going to push money that they don't have into risky situations because they think that it's a sure bet that they make a couple bucks, and then they'll pay it off with ease.

People are greedy, this warning, sadly, won't help.

Sivainvest

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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.

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