Have you ever borrowed fiat to get btc? - page 24.

EmJay

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Activity: 563

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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.

me I haven't. I used the money that I earned from airdrops and bounty campaigns in buying my btc.. I don't have really my won capital . i just earned and some I bought other coins top and sell it when it has a high value.

krassy

member

Activity: 476

Merit: 19

borrow fiat money to buy bitcoin seems a bad idea,especially with a bank card, very high commissions for such transactions , I do not advise doing so, it's better to earn a few other coins and then you can already invest them in bitcoin or any other cryptocurrency.

bajigur894784

member

Activity: 350

Merit: 10

To be honest, I borrowed fiat to cover the financial needs of my life, but on the contrary, after yesterday I have benefited from trading cryptocurrency, I can pay and restore the fiat I borrowed.
I hope tomorrow I never borrow another fiat for anything, including to buy btc or other cryptocurrency.

balamuda

member

Activity: 318

Merit: 10

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 did not do that, I bought bitcoin from my savings. I think it is very risky to buy bitcoin from borrowed money.

Gotomoon

sr. member

Activity: 719

Merit: 250

Im not into borrowing fiat to get bitcoin, my bitcoin most from bounty. When Im new in bitcoin I have bought bitcoin but it was just to play in gambling site. But now since the price is expensive I usually hold then wait for the price to climb up.

Scavagers

full member

Activity: 364

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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. I personally do not like borrowing money, as much as possible I avoid borrowing because I do not know if I can return it to them. I am just new to the cryptocurrency world and I have not tried that investing or mining thing. I earn in just participating in signature or bounty campaigns, I work for them and they will pay me bitcoins or altcoins. If I am going to invest, I will make sure it is my own money and maybe someday I will try mining, I want that my equipments will come from me. I just want to earn througj my hard work and not depending on others.

Firefox07

full member

Activity: 532

Merit: 100

I never barrowed fiat to get btc. Because i am afraid to invest some money in btc. I only join campaigns to earn btc. And i invest some of my earnings in some altcoins.

yndye

sr. member

Activity: 616

Merit: 262

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 but I have known some who have max out their credit card to buy bitcoin. It is very risky because we know that if bitcoin will go down, they would be swimming in debt if they don't have any other source of income to pay off their debts but so far they are doing good. They were able to buy bitcoin though when price is around $5,000 so they were able to pay off their debts but if you are planning to buy now by borrowing from others then you may think twice. You can borrow if you are confident you can pay off and just make sure you have other source if it does not go your way.

christian07

full member

Activity: 265

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I buy 0.005 btc when i'm newbie then i deposit it in primedice because i want to play and to experience the game then after that i also buy some btc to invest in trading here,actually there's a lot that i buy because i lose in gambling and in trading but now that i already know crypto i can earn now without doing investing.Moreover i think i'm a positive thinking person that's why even i lose i try it again in again so that's crypto because it's have volatile price and that attitude need here.

poplolnman

legendary

Activity: 1442

Merit: 1008

Quote from: ehrz22 on January 06, 2018, 10:39:58 PM

No, I never borrowed and will never have plan to borrowed just to get btc. I always earned btc for joining campaign and earning from trading of different tokens that i received from different airdrops. So there are plenty of ways to have btc.

Such a narrow minded you have there, it's so ironic yeah unfortunately I must say. Think bigger about another opportunity to make money through bitcoin price volatility, to develop bitcoin ecosystem into a better and bigger one. For a small example when you do invested 20,000 usd back in 2013 for mining equipment you might now have thousands fold fund and of course with the mining equipments still available, it's worth actually.

SamsungBitcoin

sr. member

Activity: 532

Merit: 280

I do not even try to borrow money to buy bitcoin, i used my extra money to have bitcoin and do earning methods to increase my profit while waiting for the right time to sell it. Investing in crypto currency in very risky if you borrow money it will generate interest then the possible income will be cut down because you need to pay that money you borrowed

bryant.coleman

legendary

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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.

Nope... I never ever borrowed money from anyone, either for investment in Bitcoin or in any other asset. I have made my investment only when cash was available with me. My investment in Bitcoin occurred in 2012, when I had some spare cash with me. I am never in favor of borrowing money to make investments, as it will put you in a lot of pressure if the investment fails.

justBorn

newbie

Activity: 42

Merit: 0

I did but they don't trust me because they think i cannot return in time. It is ok to me, i am getting started and i will for my self to earn more btc. Failure is nothing to me.

A.Delaney

member

Activity: 266

Merit: 13

Quote from: cpfreeplz on January 06, 2018, 10:56:07 PM

Heybi was just posting in another thread saying that 18% of investors are using credit whether it's credit cards or other kind of credit is totally relevant though. I only use a credit card to purchase bitcoin if I need a very small amount and it's convenient and quick. I pay that credit card off without paying interest so not exposing myself to even more risk by doing so.

I do this with Coinbase. Once a week. I can buy $100.00 worth. Then I just pay it off.

chickenado

hero member

Activity: 1036

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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 havent did it to borrow fiat to buy bitcoin,i can see that it was too risky to do it,we have different ways to earn bitcoin and i rather choose to be patient to earn it.Im here in this forum and joining signature campaigns inorder to own bitcoin..to strive hard is whàt i did and be more patient..but we cant blame anyone who get some loans to own bitcoin they are people who are risktakers and truly believe in bitcoin to be more profitable and has a capability that price will reach to the moon.

cpfreeplz

legendary

Activity: 966

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Heybi was just posting in another thread saying that 18% of investors are using credit whether it's credit cards or other kind of credit is totally relevant though. I only use a credit card to purchase bitcoin if I need a very small amount and it's convenient and quick. I pay that credit card off without paying interest so not exposing myself to even more risk by doing so.

globalking

copper member

Activity: 644

Merit: 0

POINTPAY

some people say borrowing money for bitcoin is not safe but I did and it was a good experience for me.

ehrz22

full member

Activity: 406

Merit: 105

No, I never borrowed and will never have plan to borrowed just to get btc. I always earned btc for joining campaign and earning from trading of different tokens that i received from different airdrops. So there are plenty of ways to have btc.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

I have never done that and won't be doing it in my entire life either. It is said that we should not be investing any borrowed money into crypto currencies and I find it to be really effective advise as borrowed money if lost becomes a burden on head of one person. It is better to wait until you collect a substantial amount of money to invest rather than to borrow it from another person. Cyrpto currencies are considered a risky investment and that's why many people even if they have their own money think twice before investing any money in it.

jtipt

hero member

Activity: 1050

Merit: 529

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'm glad that I haven't done it. But I heard there were people selling/mortgaging their houses to buy BTC. Borrowing money to invest in anything is the worst idea, no matter how safe it is I would still not do it. It's true if had borrowed money and invested in BTC he would had very easily profited but then there was a chance of it going the other way.

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