Topic: Do not invest in Bitcoin with a borrowed money - page 3. (Read 655 times)

Na the problem with newbies be that o. Dem no dey broad in their thinking when it comes to Bitcoin investment. As e be say dem never get the market experience Naim make dem dey always wan do hurry hurry to invest in Bitcoin forgetting say the market no be as dem envisage am to be. Dem no really get clues on Bitcoin market volatility not to talk of market experience.
Most of the newbies wey dey enter the invention plans Na based on say dem tell dem as e be dem never get the trading experience though and as a result of wetin dem don hear, dem want run test to see as e be but unfortunately, the way dem dey take enter the market no be so as e be that is why you dey hear people say dem buy high all of a sudden price drop den dey get stucked up at a particular spot for a long time without being able to sell because they would be at lose if they try sell at that price they bought initially.

Yeah actually aside from Bitcoin it should be also applicable to every other investment, however in as much as investment is concerned there bound to be profits and lose, so irrespective of our positive mindset of believing that every investment tends to yield a very good profits return, perhaps it shouldn't give us the reason why we should invest using borrowed money because one of the factors that determines profits or success from every investment is long time holding however is obvious that with volatility of Bitcoin the only way to be greatly profited from Bitcoin is patient and holding, so if I may ask how would someone pay off the dept when it will take years for the investment to mature?.

All this factors should be put in consideration before making any attempt to borrow money for investment because this is one of the things many people are facing borrowing money with the hope of paying back through the profits that would be realized from the investment and if perhaps the investment doesn't favour them they would be left with no option but to sell off the investment with a discounted price in other to clear those dept, which is a very poor investment plan.

I don't know how things are done in your area concerning loan , when dealing with loan there must be a collateral and interest so with all this why not wait for your own money , no one can predict the price of bitcoin even robots cannot do that abi the person dey see vision?. I will not advice anyperson to borrow money for investment aside from bitcoin investment any other investment like estate investment, borrowing money is not an option. But seriously speaking no one should borrow money just for bitcoin investment, bitcoin is just an asset so why borrowing money, an asset is something you acquire maybe by working or buying, I see bitcoin as a merit like something  you work for just as the same way people work for money (fait)

Yeah, it's a big risk to loan money in order to invest in Bitcoin, but there are free interest loans that you can ask for from your relatives, friends, and family, which is less of a risk compared to when the investor is taking a huge loan with a significant percentage of interest from the commercial banks. If one takes a free interest loan from relatives, they can repay it gradually from their other sources of income, and even if they default on the loan repayment, they can still resolve the issue amicably, but if it's from the banks, defaulting on the loan will mean extra interest being added.

Inasmuch, I would not advise anybody to take a loan in order to invest in Bitcoin, but I can still tell them to rather take a free interest loan, a loan that will not put them under pressure when they default on the repayment.

Borrowing money to invest in bitcoin will be a mistake because bitcoin is still very young to predict it's future and due to fluctuations in the market prices sometimes one can buy bitcoin with the hope that the price may rice in the future and before you know it the price might drop due to some uncertainty in the future so despite it's volatility, I feel borrowing money to invest on bitcoin isn't a good idea and most time in the essence of waiting for the price to go high that's how the interest of the money being borrowed will be accumulated.

You no supposed think, one of the main rules of investment na say make we no use borrowed money take invest. Investment supposed be sometime wey be say if things no go as you been plan am you fit adjust your investment timeframe add more waiting time. If you been plan to hold to 6 months and after that 6 months things no come out as you plan, you fit add more waiting time but when you dey use money wey no be your own like wey you borrow, e go make fear catch you well well and you go dey rush to sell make you no lose everything and in that process, you dun sell at loss wey be another thing wey you no supposed do when you invest. Borrowed money go make you no get peace of mind and na so you go dey over monitor the market because fear dey catch you. E no matter how small your money dey, no borrow to invest or na you go still suffer am.


Very valid point, all this newbies dey think say the market na only one sided so as dem borrow everything go go as dem plan but the market dey always get another plans. Bitcoin na one of the worst assets to borrow money invest inside because the price volatility no be here and if you come get to pay back the money in the nearest future na big problem be dat because the market fit decline that period and put you at a very big disadvantage as you fit no go only lose but now you get to look for another means to arrange money take cover up which is unplanned expenses wey you for fit avoid, if you been just dey contended with what you have and invested with only your spare money.

This is not only particular to Bitcoin investment but other investments or businesses in general, it is not a wise thing to do because it is a very risky one as there is no such guarantee or certainty that Bitcoin will always continue to increase in value, things could go otherwise, and you get screwed unless you have a solid way of repaying the loan, plus you are given a long duration of time or number of years to pay back the loan, maybe 2–5 years, in this case, your investment in Bitcoin might have appreciated.

Sometimes sef even with the one you borrow from papa or mama as soon e reach when una talk to return the money and you no dey respond well na another big wahala and questioning dey go want understand wetin u use the money invest into and if e con be say na huge money omor... Na yawa.

E no good make person borrow money to invest in Bitcoin way you no get any means of repaying your debt because to make a profit from Bitcoin investment you need to hodl your Bitcoin for a very long term like 3-4 years before you go see better profit inside. But if you dey work with a good salary per month and you understand Bitcoin well well and you want to invest on it and you no get the money you fit borrow money invest when you get your salary you go dey repay small small until you pay am finished. Bitcoin is the only thing for the crypto way I know say you no fit lose your money as far as you still dey hodl am unless you sell at a loss when the price drops. Even due Bitcoin price drop e go still rise back just way tin we saw happen for Bitcoin price for few days back.

The only risk I see in bitcoin investment is having the wrong mentality when investing in it. Let me explain, bitcoin is clearly not an ordinary investment that you jump into with the expectation of having gains at a slated time frame. Its not like a ponzi scheme that you're promised some gains, its quite understandable that it has a volatile nature and practically nobody knows when it will increase in value or not, so whoever goes into bitcoin investment and cries for loses was misinformed in the first place, or embraced it with a totally wrong mindset. The beauty of bitcoin its that your loses can be transformed to big time gains only if you can wait for the bull run. It is also evident that the bull run occurs mostly after its halving.

Not only bitcoin investment, but all investments. It is not advisable at all to borrow money for an investment that you're not already into, and gaining from. You can only borrow to enhance your stake in an already productive venture. We call it good debt. The worst punishment you can give yourself as a starter its to borrow money for the business. If anything guess wrong, your problem will be doubled. And worse of it all, you borrow from banks or loan sharks, you're doomed as you may end up auctioning your valuable to repay before the collateral is forcefully collected from you.

I agree with you on this op, it is not a good idea to invest in Bitcoin with a borrowed fund when you are investing in anything apart from Bitcoin itself it doesn't make sense to invest with any money in your care or even borrowed money, is just like taking two risks at a time, when you lose such money you will repay the owner no matter what you do, you should use your money to do this so that if anything should occur in the process you take the loss independently, in bitcoin investment no one knows it all, so no matter what you think the market can disappoint your expectations, that's why is advisable to invest with the amount money that wont affect you when you lose it.

I believe say almost everybody for here more especially we Nigerians already know say no be better try to us borrowed money take invest inside Bitcoin, although, e get some kind of people way go like to try use person money or money way em borrow to use invest but for sure, no be better try be that.
I dey always dey talk am right from time to time say, e no dey good to use money way person borrow you take invest for Bitcoin because possiblities dey say the capital way the person invest to dry off like water way them throw away for desert, so if investor use their own hard earned money take invest for Bitcoin and Bitcoin no profit am anything, then no body go harass am because nah em money and nah em decision.

I learnt the hard way in this area of investment. I remember when MMM been dey reign,  many of us been make this mistake of investing with money that is not our own. Some people took loan from bank and even juju. No be small thing o. If MMM no fit teach person something, I don't know wetin go make them learn.

Anything investment should be with personal funds not borrowed funds. It does not always work out fine when you dey manage another person money. There is always risk involved in any investment and it is not safe putting another person's money into risk.

My broda there is nothing like master Bitcoin trading o. Even professionals they lose money, make bad luck no just fall on person side nah why they bring up tthis matter. Because iof you con borrow money to go trade then bad luck com reach your side say you loose. Nah double wahala you go they. And e go pain you well, how you wan take explain to person say the problem wey you they wey make you go borrow money to go trade you even solve am you still come they on two problems now. Hmm, if you no get money to trade just lock up whenever your personal money come you fit go trade am, if you lose e no go pain but as nah your money you no go too they panic. I like as you talk true. Imagine say you lose person 1.5 million naira for trading how you wan take put mouth beg am to pay the debt and still pay interest on top.

If someone has a reason to borrow money, he or should have a substantial way of paying back the Money. It will be wrong to borrow money to invest in Bitcoin and then you are unable to pay back hoping that you will make quick profits to enable you pay back. Bitcoin we all know is volatile investment with it's price  fluctuating. If one must invest in Bitcoin and hope to gain profit, he should consider a long term investment and using your own funds would be more appropriate in this regards

This reminder dey very important and for bringing it up again for our people here to know dey very good. Dis one no be for only newbies sha but for everybody. Dey get some people wey go don master dis bitcoin trading and go still wan like borrow money to put inside because dey feel say he go big bring money back for dem, make dem no try am because d money go just go like dat if d market move on a downtrend the time wey e put money inside. D market dey volatile and if you want or even if you no wan invest for long time, no use borrowed money to put inside for dis investment. You fit lose everything all to market volatility one day just like that.

This is a good reminder that is very timely. Now that the price of Bitcoin has gone up and knowing the halving event is around the corner. We know a Nigerian mentality we want to cash out so if you'd go borrow money. What is loan sharks and respect that they will be able to pay back only to be disappointed in the end.

E better say make you borrow the money from your papa and mama than to borrow from outsiders.

It is not advisable to borrow money for bitcoin investments because of the nature of bitcoin volatility. No one can predict the market trend. To talk about it, there is a saying that one should "invest what they can afford to lose" and also "invest with their spare cash". There are reasons why these phrases were formulated, and they stand as enlightenment and caution to the traders who are very much engaged in trading activities, but the newbie traders are mostly advised to take cognizance of them so as to be guided while trading or investing.

Borrowed money does not belong to you, and I believe repaying it comes with interest on it. If it happens that after borrowing to invest in bitcoin, the price drops below your expectations, that would be a problem because you, as the borrower, would depend on the profit from the investment, and I believe there is a stipulated time of repayment. What if the bitcoin market does not pick up before that time to pay it back? What would happen to the borrower? Or do you expect the lender to wait for your bitcoin investment to grow before you pay it back with interest on top? A big no.

Bitcoin is not a get rich quick scheme to put in money and expect huge returns so using borrowed money is not an option. E no get how e wan be, with the rate at which e dey volatile, e get the tendency to incur one loss pass the gain wey dey expected nai make e dey advised say if you dey look to invest in Bitcoin, use money wey you fit part with. Bitcoin investment is like gambling, and as such you no go fit carry money you don set aside for something important like say school fees, house rent or even people contribution do am, make e no go purge you later on.
 Except this advise is to newbies, I no sure say e dey necessary to point am out because such investment nah 50-50 and the chance of coming out the loser if you be bad trader dey high, so why incur more debt if things go south?
People go dey tempted to put money into investing in Bitcoin especially as price dey go up fast and fit think to risk the borrowed fund but just as e sharparly rise, tendency to drop dey too.

Bitcoin investment is not always good to borrow money for its investment, but one can choose to borrow sometimes depending on the situation of things at that particular time. Business is full of risk, likewise investment, and bitcoin investment is just like any other investments which are open to risk. So, if one can borrow money for other investments, there is nothing wrong with making such trial.  l think the most important thing is being very careful, and knowing a lot about bitcoin, and its record, and then know exactly the right time to make such investment.