Topic: Do not invest in Bitcoin with a borrowed money - page 2. (Read 664 times)

Investment is good but using a borrowed money to invest in bitcoin I think that is not supposed to be in that form, so if you are borrowings money Investment you are putting yourself in a very big trap, because when you invest and you lose for your investment I think you are in trouble whereby the capital you use will be asked to repay the money and you have to borrow another money with interest to repay the one you have already borrowed, so that is why we say that you should at least make sure that you make use of money for investment and let your money should be your spare money and money that will not bother your savings and money you can afford to lose

I agree with you bro, asking someone to collect a loan to invest on Bitcoin is not an option to consider at all because we no fully well that Bitcoin price is very volatile to easily start making profits immediately and if the intention of the person is to pay the dept from the profit he or she may realize from the investment so how would the person clear the dept.

So just like you said the best way is to get a free interest loan but the question is that who would give you a free interest loan? Because considering the kind of society we are today nobody will agree to give anything without making profiting from it, and even if the government still give loans to empower people it could take many months  before you will be cleared to be giving the loan.

If we use borrowed money to invest in Bitcoin that means we are trying to risk more than even those that are gambling, using borrowed money to invest in Bitcoin will give us more harm than using our own money to invest in Bitcoin, there is no guarantee in Bitcoin investment.

Invest in Bitcoin with an amount you can afford to lose else you will never see the peace of mind you seek as you monitor bitcoin price every day. Just as it is in gambling (i am not comparing bitcoin to gambling) People should always assume money invested as money lost already, they should not have too high expectations for the money they invested since bitcoin has 50-50 chance of making profits. It is possible to lose money from bitcoin even though it is the safest means of online investment so we should learn to invest an amount we can afford to lose.

Not just Bitcoin investment i think this is applicable to every kind of investment but of course this topic is about bitcoin investment. Everyone knows bitcoin investment is not 100% safe, the risk involved is also a thing of concern since bitcoin has a volatile nature and it’s price fluctuates and can move up or down at anytime. So just imagine borrowing money from someone you promised to back after some time and bitcoin price has not been doing so well at that period and it is almost the due date you promised to to pay back, how are going to pay back your debt? So you see, using your money to invest is the best way to invest because borrowing money to invest will only create more problems for you and you will not have peace of mind.

The nature of bitcoin won't allow you to enjoy is potential for a short period of time. In situation you if anyone have interest in bitcoin and does not have enough money, there is ways to make your dream come through if from his or she income he can take out some amount of money to invest and gradually adding up anytime he or she gets paid.  That's what makes bitcoin investment sweet.

Even if you don't invest in bitcoin with borrowed money but one thing I noticed is that, taking loan for any kind of business needs proper planning if not the business will fail am very sure of that, there are people who do well with money they borrowed to invest in business, but as for me if you don't have another means of earning don't borrow to invest in bitcoin.

 It’s not advisable to use borrowed money for trading or do anything relating to cryptocurrency, financial experts will warn you against doing such. This is because of how highly volatile the market is, even  before you trade any asset in platforms like Binance, they will remind you of the risk involve in trading and how you could lose money if the trade should go against your trading view. By clicking on the terms and conditions you have sign for whatever risk that might occur. For them to constantly remind you about the risk involve in trading. That means it’s not always given in a platter of gold. Borrow money to trade is desperation to me and when we are desperate looking for money, we tend to make irrational decisions that might cost us how capital.
 Borrowing money for other businesses that is not crypto related is actually not a bad idea. After all most of this big companies and businesses today were funded with borrowed money. It all part of the process in business. A business man will see it as opportunity to expand knowing very well that at a given time they will pay back with their interest, people who have believe in third business and are dedicated to it won’t have problem going to the bank for loan because they know what their business is capable of generating with the borrowed money they can afford to expand their business. Majority of the businesses we have today if I’m not mistaken is built on borrowed money maybe from the bank or some friends and family. It is just left to how productive you can be with the money that is given to you.
 

Na this kind thing people been do well well wen MMM been dey reign. The story them pass funny abeg. You go see person collect meeting money go put for MMM with the hope say him go sharperly double am to pay back get small change. The casting wey MMM do people ehhh, na only God for forgive whoever bring that thing come we country.

I been think say plenty people go learn from MMM, but e get other things them like thinks, mapus and all other ponzi cheme them like MBA forex we still obtain people wetin no good. Those one show say people no really learn.

I no surprise say people still dey borrow money to take run wetin them call investment. That na bad thing to do because e no dey always gel. Even though say Bitcoin look different and better, I no fit still advise anybody to borrow money take buy Bitcoin.

This advice of not to invest in bitcoin with borrowed money should be spread across to everyone wey we know not only in this forum but to the people wey d come in contact with bitcoin for the first time to invest on am due to wetin dem d hear about bitcoin halving giving them profits during the bull run.

I know as we all dey here so, we don d, one way or the other the tell our family and friends about the upcoming bitcoin halving and the bull run wey go happen next year. And in the process, we go fit d ginger them to invest in bitcoin to make big profits from am, forgetting sae in bitcoin investment you don't  persuade person to invest in bitcoin(allow them to that at their own freewill) because whatsoever that happened to their investment for bitcoin na you dem go hold responsible.

In nutshell wetin I wan yarn be sae as we d advise one another not to invest in bitcoin with borrowed money, make we no also persuade one another with the hope that bitcoin go make them rich if them invest big. We no go like to hear in a situation wey peso sell em properties over bitcoin investment.

When it comes to investing, it's generally considered a bad idea to borrow money, especially if you're investing in something as volatile as Bitcoin. Not only does this increase your risk, but it also means that you're likely to end up paying more in interest than you would make in gains. If the value of Bitcoin drops, you'll be left with a loan to repay, and no way to make up the difference. This could leave you in a difficult financial situation, potentially even facing bankruptcy.
Even if the value of Bitcoin does increase, there's no guarantee that it will continue to do so.

It's generally not a good idea to borrow money to invest in Bitcoin, or any other high-risk investment for that matter. The reason is that if the value of Bitcoin drops, you'll be left with a loan to repay, and no way to make up the difference. This could leave you in a difficult financial situation.
If you're thinking about borrowing money to invest in Bitcoin, it's important to weigh the risks and rewards carefully. Make sure you have a solid understanding of how Bitcoin works, and be aware of the potential for loss. It's also a good idea to speak to a financial advisor before making any decisions.

Of course what you said is true because irrespective of how sure an investment may seem, borrowing money without any reserve funds to settle for the depth if the investment goes wrong is not a good investment.

One of the things that normally affect most people is failure to plan or draw a good strategy that would serve as a back up plan if we invest on Bitcoin using borrowed money because just like every other business we do making sure of other diversification is very important because business or investment has no assurance that the possibility of succeeding if venture into is not certain at all, so having it in the back of our mind that the possibility of succeeding using the borrowed money to invest on Bitcoin is not sure, so there should be a plan for reserve fund in other to pay the depth if the investment fails.

Borrowing money for any form of investment is not always the best thing to and in this context where you might need to hodl off without knowing the fixed date you will be getting a return that will allow you to pay back, it's not advisable at all.

If you are interested in buying Bitcoin you can do so by starting with a little amount you could ignore while waiting for a good return.

Of course, those who are financially stable and who are looking for ways to invest their wealth can use big capital for the investment but an average person should rather stick with what he can afford rather than get pressurized to take up a loan to buy Bitcoin

Exactly you need to invest money that you can afford to lose because Bitcoin is volatile the price can increase and decrease anytime no body fit predict am, that is why is advisable you should have something doing like business or government worker so that you can invest in it you won't be too much worry about the volatile because you a salary earner you can fit invest any amount on it even the market did not go well, anytime the price can increase but if you take debt and invest on bitcoin and the debt will due in the next 4 to 5 months and the price of bitcoin decrease  that time how can you pay the debt you will sale your coin in lose, because you don't have any source of income that you can replace with it and you will start borrowing money in different locations to replace the debt you took and invest in bitcoin so is not advisable to invest money that is not your on in bitcoin because is very risky.

The truth be say, no be just to get Bitcoin knowledge be the thing but make most people also think to get common sense join, person fit get Bitcoin knowledge but still think am say e go help am, if em go borrow money take invest for Bitcoin.
Nah true say inside Bitcoin investment risk self dey and truth be told, no body should use borrowed money to invest in Bitcoin, no be must say the agreement go dey for this forum be for person go know say e no good, nai make I talk say common sense matters most.

The reason why it is not a ethic to borrow money and invest in bitcoin is because the best way to get profit from bitcoin is when you invest in a long term, with this it becomes a big problem to borrow money for such duration of time. Only the interest will be a pain in the ass. Borrowing money to invest on a short time will make you run at loss because if bitcoin price dips, below your entry point, you will panic and sell believing that the price will not pump back. Only use your own money to invest and if you don't have a job, you should look for a means of getting income and invest in bitcoin for a long time with patient and rest of mind.

i no see any reason wey go make person borrow money take invest, because payback time dey always look difficult and I never see any post wey dey advice person to use loan take do investment, not to even talk of Bitcoin, person wey use borrowed money take invest I see am as better gambler, this na one of the reason dem say make person gather enough knowledge before em enter into bitcoin investment so that e no go make all this anyhow mistake dem. The volatility of Bitcoin suppose to even make the person fear especially if the person come go invest when the market wan approach the dip, if person make that kind terrible mistake e go suffer well well em.

Their are many reasons why borrowing money to invest in bitcoin is not good is that even if one borrow the first time to invest  and succeed it will become habitual that can lead someone to serious problems , so it is just better to never consider borrowing money as a way to invest in bitcoin.  If one is thinking of borrowing money to invest bitcoin that means he will still need money from the investment to solve some problems and thus means the investment won't end up well because much attention will be giving to it. Using extra fund that won't be needed for emergency is a good way of investing bitcoin.

Na truth you just yan so @ O.P regarding this matter about the effect of borrowing money and why it's not good for people to borrow money just to invest in Bitcoin while having the mindset to make quick profit, and pay back debts due to the nature of it's volatility, and as such, it's outcome not always as predicted, but fall or raise due to demand and supply. Hence, making Bitcoin an investment asset we ought to invest with an amount we can always afford at the moment, and as time goes on, we can keep increasing our wallet portfolio, while hoping to hold on for dear life "hodl" if you really want to reap good profit of your investment in the future.

Moreover, another disadvantages of borrowing money to invest in Bitcoin is that while you are holding to make profit of your investment, so is the interest of your load increasing, and as such, you are just only struggling to pay debt and not own an asset.

Of course Bitcoin investments is a source of income because it offers profits else there would not be an interest to Invest.
Rather it is not advisable to be projectized as only source of income. That is why the terminology of diversifications is adopted.
 

Investing on Bitcoin and forgetting about it for a long time is an individual decision if you are trading for a short-term or a long-term investment and not that Bitcoin investments demands a forget about it for a long time but however, the goal of every traders and investors is to make profits so the volatility of Bitcoin as a causes of its possibilities to face inflations and deflations is a call to exercise patient so one can achieve its goal in the Bitcoin markets.

Yes it is advisable to kickstart your Bitcoin investment with a tolerable capital (amount) as a newbie Incase there is an error market para-venturely to lost so one can be able to withstand the effect.
I don't know why this "not borrowing money to invest on Bitcoin" has come to statement of a formula in the Bitcoin industry 😏.

As long all businesses and other investments is liable to money borrowing to raise capital which also involves risk taken, Bitcoin sector can not be exceptional to money borrowing too for it capital but due to the diverse potentials of Bitcoin, conditions issued on the money borrowing should be considered specifically on time factors and interests factors else it is a good to go but must not be an act of emotional control.

Yes, I really support watin you talk sha, like we already know say if we won run any business like to launch or own company or even investment platforms, we go must need money to take carryout the plans, money nah the capital to take start up anything and money nah also the kept for investment, if money no dey, profits self no go dey.
I no agree for person to use borrowed money to use invest for Bitcoin because guaranteed no dey say the person to get profit anytime soon and still on still the person fit still lose the whole borrowed money way em put inside crypto currency (BTC).

Investment na all about capital. If you no get saved capital to start up a crypto business or investment, you need to work for it or start up a small business which will be yeilding you some profit to invest on Bitcoin. Volatility of Bitcoin is the primary priority to make you not borrowed money for starting up a Bitcoin business. there are certain criteria governing loan which is interest rate and time of return. Bitcoin is volitile which means it's unpredictable and has no constant direction rather it's work with demand and supply which the market ia volitile and controlled by some certain set of people.  Emagine you borrowed #100k with the interest rate of #40k that is the total return of #140k and you invested the sum of #100k. Instead of making profit by month end, you Lost instead,.how Would you pay back the the interest when you have not made profit.

I think this type of thing has caused many micro finance bank to go bankrupt. people will borrow money to invest a business which is not properly investigated to know the advantage and the disadvantages of the business. When it collapse you start to borrow money from people to pay interest. Before you no you have gradually became a certified borrow and pay.