Have you ever borrowed fiat to get btc? - page 11.

kiemponxs

full member

Activity: 462

Merit: 100

Quote from: A.Delaney on January 05, 2018, 10:36:09 PM

Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

I personally have never done such a thing. the first time I joined the crypto, I tried to find experience and knowledge first before really investing or trading. yes, until now I have been quite happy to be involved with bitcoin and crypto.

kdiag

full member

Activity: 490

Merit: 100

it's quite risky to borrow Fiat, to buy bitcoin and other currencies, I always used free money for purchases, since it can take a long time to get it, and I'll have to repay debts.

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: verasity on February 20, 2018, 04:18:25 AM

Never and never will do.

Never say never! You are in better financial situation then others and you didn't have to borrow money for your investments, but some people depends on that. With borrowed money the best thing you can do is to invest in something that will return you enough profit to have for repaying debt and to have for next investment.
I didn't borrow money for bitcoins too, that I regret now. I could borrow some and to have a lot from that. I didn't have my own enough to earn big amounts, I could definitely be more richer now. That is the point of borrowing the money, to do something more with them and bitcoin is a great thing to invest and keep for future, consider that I'm here more then 2 and a half years, in that time bitcoin was very cheap.

LegendX

member

Activity: 247

Merit: 10

I didn't take that risk because you can never predict what is about to happen with the price. I hope I never have to borrow fiat to get bitcoin

verasity

copper member

Activity: 405

Merit: 0

Verasity is a Protocol and Product Layer Platform

Never and never will do.

weblouartisan

full member

Activity: 448

Merit: 100

Lets Go Adab

Quote from: A.Delaney on January 05, 2018, 10:36:09 PM

Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

It is not necessary to borrow fiat to get btc because you can work on bounty campaigns today and earn a decent amount of altcoins after then end of sale, in this way you do not need any capital to start holding a coin you are interested or for trading.

Chingchangfu

jr. member

Activity: 77

Merit: 7

Nope never even think about it either ,
I think if you want to earn you should only use your money and never to borrow from others,
What if you ended up losing on your investment then it would be hard for you to pay up for your debt .

Zsywt1024

jr. member

Activity: 286

Merit: 8

Quote from: deppil on February 20, 2018, 03:40:37 AM

Quote from: Dico88 on February 18, 2018, 04:34:15 PM

For me I did not borrow a fiat to get bitcoin and I never did. The market is too volatile to do such a thing. At the moment you may benefit and an hour later all your portfolios may be red, and it may take some time before recovering. The next time you will not be able to repay your debt and interest will always increase every day. Cool

there are actually many facilities to borrow funds for trading. even in exchange like poloniex itself there is a special section for lending. there are lots of traders who do that and I don't know if they are profitable then can pay the debt or not. because I myself have never done that before. You're right that whenever the price goes up and maybe the price can be red when it's due time to pay debt, what would you do ?

As you said, those who have technology traders can，But there are many people who fail，So this may not be a technical consideration, but a person's risk appetite

Zsywt1024

jr. member

Activity: 286

Merit: 8

Such a risk is unbearable,I think only a very strong heart can do so
For ordinary people, it is better to take part of your salary regularly than to borrow money Grin

Noelbetty12

jr. member

Activity: 168

Merit: 5

Now You Can Be The Bookmaker!

Quote from: A.Delaney on January 05, 2018, 10:36:09 PM

Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

No, not yet. But if I would be given a chance, I dont think so. It's not good to start a business with a borrowed money and it doesn't seem so appropriate to do that. Remember that such money will have interest especially if it was taken from a lending company. What if your business fails? What are you going to do? So better spare a part of your income for that purpose.

deppil

hero member

Activity: 1008

Merit: 501

Quote from: Dico88 on February 18, 2018, 04:34:15 PM

For me I did not borrow a fiat to get bitcoin and I never did. The market is too volatile to do such a thing. At the moment you may benefit and an hour later all your portfolios may be red, and it may take some time before recovering. The next time you will not be able to repay your debt and interest will always increase every day. Cool

there are actually many facilities to borrow funds for trading. even in exchange like poloniex itself there is a special section for lending. there are lots of traders who do that and I don't know if they are profitable then can pay the debt or not. because I myself have never done that before. You're right that whenever the price goes up and maybe the price can be red when it's due time to pay debt, what would you do ?

Budugbass

full member

Activity: 392

Merit: 100

Never, and so far i haven't bought a btc, even if i want to buy it or to do anything else related to crypto.. i won't borrow to anyone, because i feel the salary on my job is enough to fulfill it if someday i've an intend to doing that's purpose.
But in fact i think it's a bit risky, given the price movement is less certain, but indeed if it had mastered it.. will not get the loss/risky i guess.

josephpogi

full member

Activity: 434

Merit: 168

Quote from: A.Delaney on January 05, 2018, 10:36:09 PM

Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

I never been tried borrowing from others since I work hard for my own coins and used it for trading.It is really good when you gained money from your own hardworking. And you still earning , we have to work and work and be patience when you are holding the coins for a long period of time.

supermine

hero member

Activity: 826

Merit: 518

If someone do this then he will be in the great danger because bitcoin doesn't give any promised return so it is not good to invest on bitcoin with borrowd money.In case if the bitcoin price crashed then the victim will be trapped. Roll Eyes

So I always suggest the people to save your money in the form of bitcoin because bitcoin has good growth rate since it was launched o your saving will grow in some years but never invest the money that you can't afford to lose.

cryptoalfs76

full member

Activity: 406

Merit: 100

▰▰▰ MODULE ▰▰

Quote from: A.Delaney on January 05, 2018, 10:36:09 PM

Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

Will in my own experience,my first encounter in bitcoin that i have no capital,so the first things i should do is borrowing a loan to my cooperative so that i can raise a capital to buy a bitcoin in my local exchanges wallet,and after this experience i learn how to trading investment,and bounty hunting campaign,and now this is my other source of income aside from my job in the company.

Mark85

newbie

Activity: 9

Merit: 0

Quote from: A.Delaney on January 05, 2018, 10:36:09 PM

Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

No,I haven't done that in my life. I mean you can earn big in bitcoin but it is very risky to invest especially when the money you use to buy bitcoin is from someone you owed . Try to join bounty campaign to earn bitcoin.

yj300316

jr. member

Activity: 154

Merit: 1

The P2P Marketplace For Digital Content

if you have a strong prediction that bitcoin will surely raising in the future,
borrowing fiat money is not a bad decision to invest. you can pay later with your profit.

Jet Kolet

jr. member

Activity: 98

Merit: 4

Quote from: PricelessBing on February 18, 2018, 02:33:36 PM

Yes i did two times and for god sake made a profit of 15% over the borrowed Fiat on which loan interest was 4.3% and the rest was my profit.

is indeed a huge investment advantage in bitcoin. hopefully, you start investing with a large amount. good luck with bitcoin.

mornabo

hero member

Activity: 1148

Merit: 504

Quote from: Dico88 on February 18, 2018, 04:34:15 PM

For me I did not borrow a fiat to get bitcoin and I never did. The market is too volatile to do such a thing. At the moment you may benefit and an hour later all your portfolios may be red, and it may take some time before recovering. The next time you will not be able to repay your debt and interest will always increase every day. Cool

Thats true, is actually quite risky with borrowing money just to make trades, moreover there is a grace period or deadline for payment, so you are required to make a profit within a certain period of time right ? but not every time the price will continue to rise and benefit to you? better use your personal funds because you will be more free not dependent on time to trade

setialovers

member

Activity: 812

Merit: 11

Quote from: queenlaurel on February 19, 2018, 03:54:55 PM

No I haven't and I dont think its a good idea. Borrowing fiat to buy bitcoin is not a good idea in the sense that you are not so sure you get the coin back to pay up. Bitcoin rises or drops dont know why you would want to borrow and put yourself in debt. Why not wait until price is down and you can pay for it, then enjoy your bitcoin alone!

Yes, its should never do that. Borrowing money to invest bitcoin is very risky. Its not because bitcoin but its because bitcoin have high volatile and I am believe that bitcoin is long term investment.

Topic: Have you ever borrowed fiat to get btc? - page 11. (Read 1741 times)