Topic: Loan to buy Bitcoin? (Read 6147 times)
every one has his own choise and taking loan or not is depend on the situation.But i will not take loan in my purpose I will play safe.
In my personal opinion, it is not a wiser decision to buy bitcoin through taking loan. It is not sure that the price of bitcoin will increase only. Sometimes you have to pay loan from you pocket if price goes down. So try to buy bitcoin with your own income and it is much safer than taking loan.
Hello everybody. If I were buying bitcoin spending $ 500 a month from 2019, now at current exchange rates, that's a pretty good amount. If you took out a Bitcoin buy loan in October 2019, you would make a fortune today. Based on today's reality - today I would probably take out a loan to buy bitcoins - but I would not buy at today's price, I believe that the price should still fall to about $ 46,000. I understand that one of the main rules of the cryptocurrency market is not to take out loans to buy cryptocurrency. But being confident in the upcoming growth of bitcoin, it is very difficult to refuse credit, which, taking away most of your daily income, immediately makes you the owner of a large amount of digital gold. In general, the cryptocurrency market is one huge temptation, but you need to discard all your rash desires and make decisions only in cold blood.
Op, if you took a loan then you were just lucky that the price of btc rose high, else if the tables would have turned the other way, you may have to pay that loan out of your pockets. This is a speculative asset which can go either ways and taking a loan to buy it is not worth it because if you are stuck at some point like lose your job, then it will become a burden for you to repay ahead.
A loan is always a big risk, if you know something about the price of bitcoin at the end of the year or at least by the end of summer 2021 - please share with us, everyone will be interested 
As for the loan specifically in your case, it sounds optimistic that you have stable earnings not related to cryptocurrency and relying on it, you can easily service your loan, even if your idea is not successful. I wish you good luck and ask you to describe your experience in this topic later. 1) how much money was taken 2) how much and what they bought 3) at the end how much they received net profit. Thank you in advance!
As for the loan specifically in your case, it sounds optimistic that you have stable earnings not related to cryptocurrency and relying on it, you can easily service your loan, even if your idea is not successful. I wish you good luck and ask you to describe your experience in this topic later. 1) how much money was taken 2) how much and what they bought 3) at the end how much they received net profit. Thank you in advance!
The price will suddenly rise and when it goes down it will make our hearts feel dislodged, so before you try to borrow to buy bitcoin you should think first because you will depend on a very, very large risk in my opinion, but it all depends on you, applying for a loan and paying very large interest, it is very, very not good for your finances ..
Loan is not answer because it will gives you stress why? Because you need to pay the interest and most some of them offer loan but the percentage is high. You can invest to the bitcoin if you want but not using your money in loan.
There is a lot of people who use the money they have even a little and the others save money everyday to invest to the bitcoin and they earned profit. You do not need to loan a money for investing to the bitcoin because they have good ways for you.
There is a lot of people who use the money they have even a little and the others save money everyday to invest to the bitcoin and they earned profit. You do not need to loan a money for investing to the bitcoin because they have good ways for you.
In general, I think it is not worth taking a loan from a bank to buy bitcoin, as anything can happen in life, bitcoin may collapse one day and you will have a loan, let's say you pay off the loan and don't lose anything, but think that you could invest this money in another area and for all this time to earn
when you are dealing with digital currencies such as bitcoin, then you should not use the money from the loan because it will only make us lose when the price collapses, moreover, no one can guarantee the price of bitcoin so the risk you get may be more, I would rather suggest to buy as much coins as you can without loan money.
I agree that it is very dangerous to buy Bitcoin using borrowed money, especially loans from banks that have high interest rates.
Because Bitcoin price movements are unpredictable, after buying Bitcoin the price may collapse. Then we will have trouble paying debts,
my advice is to use the money that we can afford to lose. That way we will not be stressed if the Bitcoin price collapses, because we can
calmly wait for the Bitcoin price to recover again.
I'm buying ~500$ in Bitcoin every month with part of my salary. I have a stable job and my company is doing good. I'm wondering if it worth to take 20.000$ to buy 2 BTC now and pay the 500$ as loan installment instead of buying sats every month. I believe in the potential of Bitcoin to reach 50k in a couple years, but it wouldn't be possible to buy near half of BTC at the 500$ rate, so this would be something like an "advance". Hypothetically (but still possible in some probability), if BTC collapses and never recover from 8k, I would still be paying this loan for about 3 years but wouldn't starve or something like that, it would just sux for a while, since I still have another source of income. I know it's not the place to ask I will do whatever I think it's best, but if you were in my position, would you do it?
Bitcoin is constantly moving, this makes us always guessing and will be happy with bitcoin. surely we all hope we all buy at low prices selling high prices but sometimes the reality is different but this is what blinds me to always guess and don't be afraid to do it, we just need to be patient and pray if there is an investment you just have to do, just monitor and money on Your workplace is still there for us to install, we just have to wait and enjoy the results later. 
Before borrowing money to buy bitcoin, we must think about the worst likely outcome. Because of my experience when one’s economic condition is still good or more than enough, we never thought the worst would happen. It’s like a pandemic. Suddenly people could lose their jobs, and businesses could be destroyed instantly because of the pandemic. We never thought that when we were in the top position, we suddenly went downstairs. And finally, we got caught up in the loan. I don’t want you to experience that. And can’t pay the loan.
Anything would really have that risk and since no one can predict on what would happen in the future then you should really be aware or do include this into your consideration when taking up some loan.
When you do able to handle out or can embrace the risk then its your choice but at least you do know the probabilities of losing of those loaned amounts that you had taken.
Overall i can say that taking some loan just for the sake of investment isnt bad but for this very unpredictable and volatile market then i cant really deny the fact that i would
really be ignoring this kind of option.If we can find ways on how to accumulate bitcoin with some task or lesser way of investment then that should be considered first.
Although risk management should be put into play for this type of game, those with risk and not with it management shouldn't try getting loan for Bitcoin purchase. There was an attempt to get loan to make Bitcoin purchase sometimes 2018, but, the fear of the unknown has been the forces that broke my courage, I was having something I could have afford to loss if the system act hash than usual. This is not an investment advise but for anyone who want to get a loan should do that within his or her income, and that will be fine in Short period of time.
If you did it when you wrote it you have made a great business. But if you didn't i don't think is a good investment with the current price
Buying Bitcoin with loan money isn't a good idea. There is no guarantee you can take profits by trading or investing in Bitcoin. Even you are an expert, there is a chance for losses as well. I think it is much better if you buy Bitcoin with extra money. When you have it, it is the right way to buy Bitcoin. You must remember that "Use the money that you can afford". This is a safe way of trading or investing in Bitcoin.
Before borrowing money to buy bitcoin, we must think about the worst likely outcome. Because of my experience when one’s economic condition is still good or more than enough, we never thought the worst would happen. It’s like a pandemic. Suddenly people could lose their jobs, and businesses could be destroyed instantly because of the pandemic. We never thought that when we were in the top position, we suddenly went downstairs. And finally, we got caught up in the loan. I don’t want you to experience that. And can’t pay the loan.
experience is the best teacher for us not to make mistakes over and over again, I really appreciate the advice you give.
but indeed if you borrow money, of course there will be risks that must be borne, but there are also those who, if you don't borrow, certainly can't do something. Everything now depends on the intention that will be done so as not to get trapped into things that might be detrimental, many also by borrowing they can succeed because they have experience in managing it.
You are true that life, no one can know in the future, but we must prepare ourselves from the beginning so that if something happens we still have savings so that they don't fall, but it is true that from borrowing there will be a risk that happens if something misses the prediction made .
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Before borrowing money to buy bitcoin, we must think about the worst likely outcome. Because of my experience when one’s economic condition is still good or more than enough, we never thought the worst would happen. It’s like a pandemic. Suddenly people could lose their jobs, and businesses could be destroyed instantly because of the pandemic. We never thought that when we were in the top position, we suddenly went downstairs. And finally, we got caught up in the loan. I don’t want you to experience that. And can’t pay the loan.
Exactly,
Actually, I prefer margin trading, if you are a smart investor then margin trading is a better option for you instead of buying crypto by taking loan.
By margin trading, you can buy several times more Bitcoin than you can afford. It is several times more profitable than traditional crypto trading. It is as profitable on the one hand as it is risky on the other. Buying stocks at margins widens the impact of losses.
Before borrowing money to buy bitcoin, we must think about the worst likely outcome. Because of my experience when one’s economic condition is still good or more than enough, we never thought the worst would happen. It’s like a pandemic. Suddenly people could lose their jobs, and businesses could be destroyed instantly because of the pandemic. We never thought that when we were in the top position, we suddenly went downstairs. And finally, we got caught up in the loan. I don’t want you to experience that. And can’t pay the loan.
I'm buying ~500$ in Bitcoin every month with part of my salary. I have a stable job and my company is doing good. I'm wondering if it worth to take 20.000$ to buy 2 BTC now and pay the 500$ as loan installment instead of buying sats every month. I believe in the potential of Bitcoin to reach 50k in a couple years, but it wouldn't be possible to buy near half of BTC at the 500$ rate, so this would be something like an "advance". Hypothetically (but still possible in some probability), if BTC collapses and never recover from 8k, I would still be paying this loan for about 3 years but wouldn't starve or something like that, it would just sux for a while, since I still have another source of income. I know it's not the place to ask I will do whatever I think it's best, but if you were in my position, would you do it?
I am a bit of 50-50 depending on the situation. The first question that you need to answer on yourself is that, do you know where you will put your money? Do you understand how it works? What are the risks?
Unless you are too good or had completed extensive research about bitcoin and the cryptocurrency as a whole, then the next step to take will be the security, how are you going to secure your bought bitcoins, in an exchange or offline wallet?
You can also trade it on short-term or long-term depends on your lifestyle.
But overall, as long as you studied everything, had some expectations and alternative plans if something happens, then definitely you are good to loan. But if you just loan and invest in cryptocurrency because you were hyped, you are very wrong and should rethink things.
You must be a believer in Bitcoin. I appreciate your thinking about Bitcoin to be very true when Bitcoin is very potential. But the price of $50,000 is very far and you should wake up. you can invest your money in Bitcoin by deducting a portion of your salary. In case Bitcoin is not good you still do not affect it too much. Because Bitcoin is unpredictable overnight, it can be rich but can also lose if we are not conscious.
despite looking in the past it can sounds as interesting opportunity... it's one of the most risk situation if there isn't a money flow each month from other sources. Plus during these days we have one of the highest values of bitcoin history, even small % could make a lot of difference for buying or selling.
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