Have you ever borrowed fiat to get btc? - page 23.

Ariess

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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.

maybe some people do it. but not with me, I personally never do such a thing. pengting once to know the risks that must be in the responsibility. so you should think carefully.

Blondy12

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No I did not borrow fiat just to buy bitcoin and I am planning to do that. It is too risky to borrowed from someone to invest in fiat because bitcoin is ideal for long term investment and how am I suppose to pay my debt if I am going to borrow money? Especially here in my country because they put too much percentage of interest in each loans.

TIDOVEE

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I have never borrowed fiat to make bitcoin, I haven't even gone directly into trading, I have always been making my little from campaign and it is the token I acquire from the campaign that I use or invest with. Although I don't see any big deal in borrowing money to make bitcoin as long as you are wise enough to make profit out of it.

BitNinja2017

newbie

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I borrowed $100k to buy into crypto

mast3rm1nd

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I have borrowed BTC to get some alts I thought was promising. luckily I didn't lose that btc, I wouldn't recommend borrowing money.

redsuncrypto

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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 think I never borrow fiat to get btc, I buy btc only when I have a lot of free money. It's very high risk

BILGPS

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Activity: 378

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Yes in past few months i have borrowed dollars from a lending company and through that i have purchased some btc because the bitcoin is well maintained and having the best currency in the present time now the bitcoin is very good among the other currencies and those who have invested their money into bitcoin they are trading these currencies now.

Coinky

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To be honest,I have loaned $30k when btc was at $10k and was constantly going up every hr
I am still holding 3 BTC and in profits after paying interest

GalahadSeika

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Not all people have the luxury of buying large amounts of bitcoin, and yes I did borrow fiat from my brother to make my purchases and to buy bitcoin. We made a deal that I will give him back the exact amount of money I borrowed but the interest is mine to keep that simple. I took the risk but of course I made sure that the currency that I invested was the ones that will dramatically increase in order for me to get my interest and pay my brother back. So far so good I havent encountered huge losses in all of my investments.

ballerin and giroud

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Until now I have never been to doing that, in the midst of mining and investing for bitcoin. I prefer to get it with my own effort or know everything about bitcoin from scratch. Because it takes borrowing a lot of money to buy mining equipment, and it takes a lot of money to invest in bitcoin.

Yeah, even if at the momment investment in bitcoin is very promising. It only takes a few months we will be able to get a big profit. Well, I prefer to invest using bitcoin results from joining the campaign or bounty signature. Because I will be more lavish to invest, be compared to borrow money to make an investment it will be beware and make me uncomfortable.

Btc_1856

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Yes, we have to because we are working we cannot able to save such a huge money with us, so for buying bitcoin we have to borrow money from others. All other coins mist be bought through bitcoin only.

jancukiyah

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As long as I know about bitcoin and make it my job, I never try to borrowed fiat money in the bank to buy bitcoin for the investment. Because it's really bad way for investment bitcoin, you don't know what happen next with bitcoin, always exist or gone. Just use your money that you have for buying bitcoin.

A.Delaney

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I would only consider it for mining equipment because miners are an easy sell if it doesn’t work out.

lighpulsar07

sr. member

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Seriously? You will go that far just to invest in bitcoin! No this is a bad idea because in bitcoin there is no certainity that you could have a large profit in bitcoin or a huge loss due to high volatility and also the interest is very high so, you will likely get nothing in the end if you tried to borrow money and invest in bitcoin. If you want to invest in bitcoin save some of your money from your salary then invest it in bitcoin.

Stonesteel

newbie

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Yes, I have borrowed about $200 worth in our currency last May 2017 and got BTC, now it's worth about $3000. It's not shameful to borrow fiat to get btc as long as you know how to play and hold it.

Nikola95

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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 didn't, and I would not suggest anyone to do that. That would be desperate move to earn some money, and desperate moves are never good thing in economy. Yes, we know now that 2017 was good year for BTC, but who can tell it will be same in 2018 with so many alt coins which have big daily volume and big market cap.

TopT3ns

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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 and never, it is better for me to earn it little by little than force me to borrow someone money for BTC, it will be good if the price increased, but how if it not? there still a risk about bitcoin price and i don't want to take that risk

matanglawin

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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 already did it before. But my simple explanation is that Bitcoin is worth risking your money with. I've risk borrowing money from my friend just to invest in Bitcoin because I know that it is profitable. Good thing is that my money is doubled adter a couple of months due to the vast increase on its value whih made me able to pay the money I borrowed and earn extra profit.

zarados

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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 a dangerous move but I've done it before. Although the money I borrow is owned by my own wife. In fact, I can return the money in less than a month by investing it to cryptocurrency.

However, to make a loan like in a bank or other financing, maybe I would not suggest it. You have to pay monthly installments, while prices continue to fluctuate so you will find it hard to make money as your loan installment. Unless you are ready to risk the worst.

germa66

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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 have never done that because I did not have enough courage to do it, I was always haunted by the fear of failure and could not return the money that had been borrowed. so if I use my own money then the profit or loss can be my own responsibility.

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