Topic: Dont just borrow money but for the right reason - page 2. (Read 960 times)
This is a very bad advice, I still don't understand why humans keeps fate aside and goes on with what people tell them to do, debt isn't for everybody, just because something works your way doesn't mean it will work for others, it can land them into deep trouble, you use debt doesn't mean I should
Borrowing money to invest is crypto is not a smart idea because crypto is a volatile asset which means it's high risk and since nothing is guaranteed here why borrow money? You can easily end up in debt using debt 😂
For newbies themselves it's too risky indeed and they also still lack experience,and for seniors I think it's legal because they definitely have a lot of experience and are also smart in managing money
Similar times and similar risks, it would really just depending on how someone would able to handle it out yet we do have different various sources when it comes to income
but if you do solely rely on current investment you do have made out on those loan amounts then better think again and better not to proceed on.
Borrowing money to invest is crypto is not a smart idea because crypto is a volatile asset which means it's high risk and since nothing is guaranteed here why borrow money? You can easily end up in debt using debt 😂
For newbies themselves it's too risky indeed and they also still lack experience,and for seniors I think it's legal because they definitely have a lot of experience and are also smart in managing money
Similar times and similar risks, it would really just depending on how someone would able to handle it out yet we do have different various sources when it comes to income
but if you do solely rely on current investment you do have made out on those loan amounts then better think again and better not to proceed on.
Borrowing money to invest is crypto is not a smart idea because crypto is a volatile asset which means it's high risk and since nothing is guaranteed here why borrow money? You can easily end up in debt using debt 😂
True, if we use borrowed money for something that does not guarantee success, it is not wise.
Wise or not depends on how the person manages the borrowing money. Sure, no guarantee of success in crypto. Even I never know if there is an investment that has a guarantee of success.
If the person is a professional trader or an experienced investor, I think it is no problem to borrow money. At least, he knows well how to trade or invest properly in crypto. And he must know the safest way to use that money. And if he can get the profits, just prioritize to pay off debt/loan first. Then, the remaining money from the profits, can be used again to rebuy another coin.
There should be an agreement so that it does not become undesirable when borrowing money from relatives, friends, relatives or to the bank concerned so that there is responsibility when we will pay it.
When you do borrow or took up some loan then it would be always attached on when you would pay it.You cannot just borrow without minding with that primary thing because money isnt something that been earned on easy way for those people who you do borrow from.
Be responsible on how to repay those loans but taking this action or step when you are really out of option towards investment but of course you would still need to pay back those things.
Borrow if its needed but if not and you do still have funds then avoid getting some loan as much as possible.
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I don't think borrowing is bad thing but investing in meta verse project need to think. Because technologically it's without a doubt true initiative however there are speculations round there and is virtually luxurious. Should aware about its authentic and authenticity then only jump into the undertaking.
It's good you know that borrowing money to invest in a crypto is bad but I have a question for you, why do you consider metaverse to be a true initiative after Mark Zuckerberg make an announcement of it last year?For the record, Metaverse has been in existence since the year 2018 and no one sees it as a true initiative then but I came to understand that most people in the crypto sphere only believe in concepts introduced by well-known figures.
It will be better to take extra jobs to fund for buying token than borrowing to others especially if we know where not knowledgeable yet of something where getting into.
You make a good point no matter what we said some people will still borrow money and this reminds some weeks ago when I received an email from Binance that they have increased my chance of borrowing money when I haven't borrowed one from them.I was like why would this people want to earn more money by increasing my credit and I am sure people like the people wont think twice about it.
Even investing in crypto is profitable (specially for long period) still there's guarantee that you'll gain the moment you already need to pay your borrowed money.
Investing is risky and no matter how proven to be profitable it is, dont take a loan just to invest. It is still better save and use it for capital, so regardless of the outcome you dont have to worry since you used your own money.
So be wise and dont make a decision that you'll regret if something unexpected happened on your investment.
The mathematics is that if you borrow 1000 dollars, you do not pay it 12 months later, you pay it monthly. So, let's assume in 12 months bitcoin did a 2x, and even some more, it grows 10% more each month by calculation, you will still lose money. How? Well, let's take an example, you get 1k, and after first month it is 1.1k, but you need to pay 110 dollars, so now you are left with 990 dollars.Investing is risky and no matter how proven to be profitable it is, dont take a loan just to invest. It is still better save and use it for capital, so regardless of the outcome you dont have to worry since you used your own money.
So be wise and dont make a decision that you'll regret if something unexpected happened on your investment.
Second month it grow to 1089 dollars (10% again) but you still need to pay 110 dollars, so you are left with 979, after another month it is 1076 and you pay 110 dollars and get 966. Basically it goes like this for a whole year and you end up with less money than you took out and you didn't make any profit.
Plus, you need to make 10% every single month back to back for 12 months, how realistic is that? Considering you may even lose money at some months, it is a bad idea even on the best cases, worse on bad cases.
I don't think borrowing is bad thing but investing in meta verse project need to think. Because technologically it's without a doubt true initiative however there are speculations round there and is virtually luxurious. Should aware about its authentic and authenticity then only jump into the undertaking.
It's good you know that borrowing money to invest in a crypto is bad but I have a question for you, why do you consider metaverse to be a true initiative after Mark Zuckerberg make an announcement of it last year?For the record, Metaverse has been in existence since the year 2018 and no one sees it as a true initiative then but I came to understand that most people in the crypto sphere only believe in concepts introduced by well-known figures.
into someone just because you needed to invest.
Honestly, it isnt bad as long you do know to repay those debts or loans but if you are primarily dependent on the profits for you to pay it off then its better not to consider
on having this option.
Invest on what you could afford to lose and dont push up something which you couldnt able to handle it out.
It is not wise to borrow money in any business. All businesses may face losses. Even if the business loses, you will have to repay your loan. It can even be a financial burden for you if you can't afford it. And you don't just have to make up for the loss, you must make a very good profit in the business because you have to pay interest on the borrowed money as well as your own profit. Imagine for a second what will you do if your investment goes into a lose.
Metaverse is place u invest go to ur bank ask as much you can or sell your assets and start investing in metaverse.
I find this idea crazy. Even if I'm a 100% crypto person, I wouldn't advise this to anyone that doesn't have an idea of what he's about to do. You don't advise people to sell all of their assets for metaverse. They can still stay with those assets and have themselves generated with a new income that shall be invested into the metaverse. I just find this is a bad suggestion since not everyone is already aware of how the market is truly volatile whether it's metaverse or not.hero member
Activity: 2660
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I don't think borrowing is bad thing but investing in meta verse project need to think. Because technologically it's without a doubt true initiative however there are speculations round there and is virtually luxurious. Should aware about its authentic and authenticity then only jump into the undertaking.
It's good you know that borrowing money to invest in a crypto is bad but I have a question for you, why do you consider metaverse to be a true initiative after Mark Zuckerberg make an announcement of it last year?For the record, Metaverse has been in existence since the year 2018 and no one sees it as a true initiative then but I came to understand that most people in the crypto sphere only believe in concepts introduced by well-known figures.
It is better to refrain from borrowing here the interest rate is high and if you can pay on time you are at risk. Most of the people choose the path of loan because of the need for urgent money but if they are not able to repay some part of the loan on time, they lose everything therefore it is better to start with a small amount of capital. Long term investment in bitcoin in crypto will bring good results there is no fear of paying money here this opportunity is available for free.
We should not borrow any money or loan if there is no urgent need for it. These days people see that crypto gives a lot of good returns and therefore people take loan to invest in cryptocurrency. This should be avoided because we have to return the loans at certain time and there is no grantee that our investment in crypto will be profitable at given time. In bearish times, we may have to wait few months in order to get any profit.
borrowing money in monthly installments after investing the proceeds of the loan is one of the reckless actions in my opinion, even though there is indeed one person who has the power in a number of times to suggest this but it is still a reckless act.the rule that until now I hold is to invest the money I have (not too used for the near term). This aims to maintain the stability of the money we have so that we can invest in the long term.
when we borrow money and make investments from that money, won't it only confuse ourselves about installment payments and the market is not always good
There's nothing wrong with loaning or borrowing but, to be honest, it's better if we'll not borrow funds to expand our assets. Crypto investment is profitable even metaverse but borrowing to invest more has huge risk and might only lead you to regrets in the end. It's better to save before investing so you'll have all the control over your investment without any pressure.
But if we borrow with the aim of developing assets, even though we are already pros, I think this is still full of risks.
not without reason, because indeed here there is no guarantee that forever we will experience profits because of course there will be times when we will experience losses.
besides that it is better with own assets even with fewer assets but no debt compared to making excessive risk by borrowing funds from other people in the hope of getting a profit. this is not very good.
Of course this will only add to your thinking instead of getting comfortable in investing, things like this will only make you someone who is confused about solving problems.
because when this happens if you don't get a return on investment you will only be able to think about borrowing money back to pay off existing debts. and it will continue until things get worse
We should not borrow any money or loan if there is no urgent need for it. These days people see that crypto gives a lot of good returns and therefore people take loan to invest in cryptocurrency. This should be avoided because we have to return the loans at certain time and there is no grantee that our investment in crypto will be profitable at given time. In bearish times, we may have to wait few months in order to get any profit.
after all it's very risky, moreover we don't know whether the investment we are making will generate profit or loss
We should not borrow any money or loan if there is no urgent need for it. These days people see that crypto gives a lot of good returns and therefore people take loan to invest in cryptocurrency. This should be avoided because we have to return the loans at certain time and there is no grantee that our investment in crypto will be profitable at given time. In bearish times, we may have to wait few months in order to get any profit.
Indeed. Even investing in crypto is profitable (specially for long period) still there's guarantee that you'll gain the moment you already need to pay your borrowed money.Investing is risky and no matter how proven to be profitable it is, dont take a loan just to invest. It is still better save and use it for capital, so regardless of the outcome you dont have to worry since you used your own money.
So be wise and dont make a decision that you'll regret if something unexpected happened on your investment.
There's nothing wrong with loaning or borrowing but, to be honest, it's better if we'll not borrow funds to expand our assets. Crypto investment is profitable even metaverse but borrowing to invest more has huge risk and might only lead you to regrets in the end. It's better to save before investing so you'll have all the control over your investment without any pressure.
But if we borrow with the aim of developing assets, even though we are already pros, I think this is still full of risks.
not without reason, because indeed here there is no guarantee that forever we will experience profits because of course there will be times when we will experience losses.
besides that it is better with own assets even with fewer assets but no debt compared to making excessive risk by borrowing funds from other people in the hope of getting a profit. this is not very good.
Of course this will only add to your thinking instead of getting comfortable in investing, things like this will only make you someone who is confused about solving problems.
because when this happens if you don't get a return on investment you will only be able to think about borrowing money back to pay off existing debts. and it will continue until things get worse
We should not borrow any money or loan if there is no urgent need for it. These days people see that crypto gives a lot of good returns and therefore people take loan to invest in cryptocurrency. This should be avoided because we have to return the loans at certain time and there is no grantee that our investment in crypto will be profitable at given time. In bearish times, we may have to wait few months in order to get any profit.
Talking abou metaverse that's great, most of technology news talk about that, but if we talk about investing in metaverse, I think we should analyze it first. Not all metaverse project is good to invest, We need to know where , who, and all of the details behind them, because I heard so much money needed to invest in there.
I think it's back to your own risk appetite, if you are a risk taker, metaverse is the beat choice, but if you aren't, it's better to invest in crypto
I think it's back to your own risk appetite, if you are a risk taker, metaverse is the beat choice, but if you aren't, it's better to invest in crypto
I don't think borrowing is bad thing but investing in meta verse project need to think. Because technologically it's without a doubt true initiative however there are speculations round there and is virtually luxurious. Should aware about its authentic and authenticity then only jump into the undertaking.
I guess whenever a person decides to take loans, he must be thinking on how to repay it in the first place, knowing that there should be some other resources aside from the crypto investment. But if you have no other resources that can generate an income, then relying on crypto alone will only make yourself stressed out and become pressured because it does not give profits with its definite time. Most of the time, you will only get profitable if the market gets bullish but this does not happen all the time. So its better to think a hundred times before taking loans.
You see how people are in debt that makes them unable to think clearly and even increase their debt.
This will also happen when they are still prioritizing ego and greed.
things like this will never disappear in the minds of some people until they feel the impact they receive and are fully aware
Greed is the beginning of debt problem, usually some people want to make big profit from crypto investment immediately. Because they don't
have big capital, then they will try to find a loan of money, even though this will only add to the problem in the future. We don't only see crypto
price movements that can rise very high, but we also have to think about the worst risk what if the coins we choose are dumped. Why do many
old investors always suggest invest money that we can afford to lose, that's because they know through their experience in the crypto world
that investing in crypto is risky. So forget it if we want to borrow money for investment, we must learn to be patient when investing in crypto,
always start slowly with small capital. Do not let us experience bad things first, then we can realize that it is not recommended to invest with
borrowed money. Borrowing money we do only urgent need, so don't do anything reckless by borrowing money to invest in crypto.
Borrowing money to invest is very risky. Because there are 2 that erode our mental there. The first is in returning the borrowed money, the second in terms of the investment itself. There is no profitable investment in a short time, while in borrowing of course there is an agreement when we will return it.
So, if you want to invest, it's better to use your own money. If you don't have enough money right now, there are options for saving, although that takes time. Better to be late, than to curse borrowed money.
So, if you want to invest, it's better to use your own money. If you don't have enough money right now, there are options for saving, although that takes time. Better to be late, than to curse borrowed money.
You are right, it is always good to have your own money and not borrowed for an investment, because you always have to think about the case that everything goes wrong, and the investment is lost, in this case you must have how you can respond to any eventuality, unless If you have privileged information about a project or investment currency that is highly possible to occur, if this is the case, then the risk is welcome, but it is seldom certain that a certain event will occur as planned, it is all a risk, and in crypto anything can happen.
but as best as you can then you should really be avoiding loans and borrowing money for the sake of crypto investment because its not an assurance that you could make profits on the investments you had made
and if you do only rely on those profits for you to repay those debts then its a suicide.
Invest only on the money you do have and avoid loans as much as you could.
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