Topic: Have you ever borrowed fiat to get btc? - page 6. (Read 1741 times)
I nearly did this 2 years ago. I was just really confident that long term bitcoin will make a rapid rise as is still too undervalued (even at this current stage). Luckily the bank declined my credentials. I knew it was a bad decision but that loaned money could have been over a million dollar by now.
Borrowing money for investment it's a bad thing, market can be predicted only by the good professionals or enthuziast so its very risky 
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 buying bitcoin or mining has opportunity profit that activity but if borrow fiat to buy bitcoin or mining i think thats not good choice. I think we have to buy bitcoin with amount that we can afford. So i never borrow cash to buy bitcoin.
I agree with you since if we borrow money, we can be in hard presure.
The presure can make our decion is not good and sometime wrong after that we will be more greedy. So its the reason.
I haven't borrowed money just to invest in bitcoin. I'm not confident if I'll use the money of others to invest for my personal investment or for personal use. I know this strategy works for others and its like they are making money out of the pocket of others but I'm not that type of person and its better to put my own money at risk instead of others. The market is too volatile and there's no assurance if the agreed date of payment will be followed because bitcoin's value is fluctuating most of the time.
Exactly, while I have a great faith in bitcoin I do not have a great faith in my skills to make money in trading, this is why I am a long term holder, I have no doubts that if i borrowed money in order to trade I will probably lose it all which is why I didn't do it to begin with.
yes am about to do that before the week runs out,now that the market is coming alive.
If you are really going to borrow money for investment - give up this idea. Better work harder, or sell something out of your property, but never borrow.
Yes, i agreed with you , investing is really risky and you can't make sure that you will bring back the income or even through you could lose your base balance.So don't even try to borrow money to invest , just invest free money which you can efford to lose, not borrow ones.
Actually, when we talks about money risk is always been part of that but in some point we try our luck if we can have a great amount of profit in the future. On my part, yes I borrowed it before when on that time the value of bitcoin is so cheap. Then after I paid all my debts so that I can able to know my prioritize which involves money to take care my financial stability.
No i haven't and i will not. but i have very close friend and he borrowed for btc and he told me that: to borrow money fo crypto market is the failure of my life. may be there are people really make good profits but this is a risky market and we should be really careful.
Yes, and I have not a really good situation now, I borrowed money at banks to buy bitcoin, I bought it for $7000, it was very good when the bitcoin has risen, then I a feather have come and has begun a bear trend but what, will be to me a lesson
If you are really going to borrow money for investment - give up this idea. Better work harder, or sell something out of your property, but never borrow.
Yes, i agreed with you , investing is really risky and you can't make sure that you will bring back the income or even through you could lose your base balance.So don't even try to borrow money to invest , just invest free money which you can efford to lose, not borrow ones.
If you are really going to borrow money for investment - give up this idea. Better work harder, or sell something out of your property, but never borrow.
I've never done that before. But my friends did it many times last year. Everyone was happy. Probably because it managed to sell their coins until Dec. But I am not a supporter of such methods. This could end very badly. If someone took a loan and bought bitcoins at 18000 then they have a big problem.
No never have done this its very very risky i think borrow big money for crypto if you are not super prof. if you are good daily trader then maybe you can do it.
I do not advise you in principle never to get into debt, only if the situation is not critical. And bitcoin can wait until you save some money to buy it.
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 done that once when I wanted to invest in one of the ICOs that was highly rated at the time and I would do it again as I made a good amount of money from that,and as a young investor I think we should not be scared to take risks because the possibilities of making money are endless.
I am against borrowing money in principle, and especially if you are going to invest them in bitcoins. And if something will not go as planned? In addition to problems with your investments, you will still have problems with debts.
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. but I suggest do not borrow fiat just to buy bitcoin because bitcoin is so volatile you could lose money.
No. Although I thought about it during the previous dip, then I realize what a stupid and risky thing it was to do so I didn't. Bitcoin is way too volatile to take such a risk such as borrowing to invest. You can never tell what's going to happen the next minute, hour or day. Just NO.
That would be a recipe for disaster. Best only to invest what you can afford to loose, at least then it will not ruin your life.
Though I am tempted to do that because as of now the cryptocurrency makes better I controlled myself. I did not borrow fiat or use credit card to purchase bitcoin and use it in tradings. Only those extra fiat I have which I am afford to lose I spent. Patienly, I waited to earn more token and coin from airdrops and bounties then those what I earned I used for trading and purchased some token from ICOs. In that way I have minimize the risks of losing my investment.
No, I don't think this is a smart thing to do.
The first rule for investing is that you put extra money that you don't need so the same applies for investing in bitcoin. Bitcoin is volatile and no one can't guarantee that you will return your investment and earn something so if you borrow money for that you might find yourself in troubles.
The first rule for investing is that you put extra money that you don't need so the same applies for investing in bitcoin. Bitcoin is volatile and no one can't guarantee that you will return your investment and earn something so if you borrow money for that you might find yourself in troubles.
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