Topic: Loan to buy Bitcoin? - page 5. (Read 6147 times)
Bitcoin is a great investment but i still don’t buy the idea of loaning to buy bitcoin, it’s volatile and the price continue to rise and fall. The undisputable fact about bitcoin is that it’s risky and loaning to buy it is not certain for profit.
Investing isn't bad, but if you can control your debt and don't let bad debt happen, it's great. Right now Bitcoin is forecasted to be in strong momentum and buying Bitcoin would be the right choice.
I fully support your Bitcoin purchase at this time. If Bitcoin falls in price it may not be too deep because Bitcoin is currently above $ 10,000 for a long time.
I fully support your Bitcoin purchase at this time. If Bitcoin falls in price it may not be too deep because Bitcoin is currently above $ 10,000 for a long time.
The cryptocurrency market is high risk and no one can predict their future value. Cryptocurrencies are associated with technology, technology is always changing. Bitcoin can be a good investment, you can borrow money to buy Bitcoin but always know your financial ability. I used to borrow money to invest in the crypto market and I know the difficulties of investing with loans. In the case of a re-selection, I wouldn't borrow to invest because it was terrible. I have to work hard to pay off my debts while my investments are losing money.
No, don't do it. Bitcoin is a risky investment but if you are willing to anticipate the risk then it is possible to earn in bitcoin while having the loan.
Just remember know the importance on how and when to invest in bitcoin. If you wanted some tips then I think doing this stuff might do good in investing bitcoin.
1. Buy or invest bitcoin when bitcoin market price is low. For now, it is not advisable to invest because of the current market we do not know what will going to happen with bitcoin for there is chance of bull run or another market fall down.
2. sell bitcoin when you think you are beating the interest of the loan you made. Do not expect too much abouy earning huge in bitcoin. Being greedy will let you lose more money in investing bitcoin.
Just remember know the importance on how and when to invest in bitcoin. If you wanted some tips then I think doing this stuff might do good in investing bitcoin.
1. Buy or invest bitcoin when bitcoin market price is low. For now, it is not advisable to invest because of the current market we do not know what will going to happen with bitcoin for there is chance of bull run or another market fall down.
2. sell bitcoin when you think you are beating the interest of the loan you made. Do not expect too much abouy earning huge in bitcoin. Being greedy will let you lose more money in investing bitcoin.
It is not uncommon for someone to want to borrow to buy Bitcoin. We know the risk we run when dealing with Bitcoin and crypto. But to meet the demands there are financial solutions such as Nexo, Crypto, Blockchain wallet and others where we can borrow at low interest. We just have to try, according to Nexo we can borrow from $ 10 without having to sell our crypto.
https://nexo.io/borrow
https://nexo.io/borrow
Honestly, I will. If so far we have paid off a lot of installments so that there is no more collateral every month and purely just to buy bitcoins, then I will borrow like you said. Something that becomes a risk is if you do not have other sources of income but even, you yourself are saying that the finances and the company where you work are fine. So what else is questionable, if you already believe bitcoin will increase and even though you will lose at least you are also prepared for the risk, then if I were you I would immediately borrow and buy bitcoin before the price increases even higher, because I think from now on the increase the price of bitcoin will continue until it hits the new ATH.
Don't go with such plans of loan. I'm a real time sufferer of the same. I started my business by getting loans, by that time I had around 0.75 btc. I could've sold that and started the business. When I started my business the price of bitcoin was above $16000. If I've sold at that price it was more than enough to set my business perfectly, but I believed it'll grow and kept hold buying loans to start the business.
To my expectation the price grew and all of the sudden started to fall. Now I'm paying monthly $200 interest for the loan and the capital I bought hasn't decreased yet. It is getting close to two years since I've started to pay interest.
Wow! It's a pity such happened. On the flip side, why would anyone take out a loan when they can easily sell off their holdings and start a business they envisage. This beats me hallow. No business is worth imposing such a confidence in the way you promoted your confidence in Bitcoin. Remember that anything volatile can't be trusted with stability. This is what Bitcoin is. However, it doesn't mean it can't hit a fresh ATH and break the record of 2017.To my expectation the price grew and all of the sudden started to fall. Now I'm paying monthly $200 interest for the loan and the capital I bought hasn't decreased yet. It is getting close to two years since I've started to pay interest.
It's always better to lower your living conditions for a while, change the car for something cheaper or even a bicycle if you can and invest the money you have at hand than take a loan.
You should always decrease the risk if you can and taking a loan to invest is increasing it.
Most of us have unneeded stuff in the house and could technically get some money from friends and family. It's always better to do that because they will not demand interest and you can always negotiate with them. The bank won't agree for you to clean the place or drive kids of the CEO to school, but a friend might
Don't try to buy Bitcoin with borrowed money, especially loans from banks that have high interest rates.
Better to buy Bitcoin in small amounts on a regular basis, but according to our own abilities. Loan will only
add to the burden of your life, I never suggest anyone to buy Bitcoin with a loan. Trust me, borrowing money
will add new problems for you.
Better to buy Bitcoin in small amounts on a regular basis, but according to our own abilities. Loan will only
add to the burden of your life, I never suggest anyone to buy Bitcoin with a loan. Trust me, borrowing money
will add new problems for you.
Don't go with such plans of loan. I'm a real time sufferer of the same. I started my business by getting loans, by that time I had around 0.75 btc. I could've sold that and started the business. When I started my business the price of bitcoin was above $16000. If I've sold at that price it was more than enough to set my business perfectly, but I believed it'll grow and kept hold buying loans to start the business.
To my expectation the price grew and all of the sudden started to fall. Now I'm paying monthly $200 interest for the loan and the capital I bought hasn't decreased yet. It is getting close to two years since I've started to pay interest.
Wow! It's a pity such happened. On the flip side, why would anyone take out a loan when they can easily sell off their holdings and start a business they envisage. This beats me hallow. No business is worth imposing such a confidence in the way you promoted your confidence in Bitcoin. Remember that anything volatile can't be trusted with stability. This is what Bitcoin is. However, it doesn't mean it can't hit a fresh ATH and break the record of 2017.To my expectation the price grew and all of the sudden started to fall. Now I'm paying monthly $200 interest for the loan and the capital I bought hasn't decreased yet. It is getting close to two years since I've started to pay interest.
@OP, I think you should take out that loan if the conditions you have described here in the OP of job security and all that are intact. With that you already have means of repaying the loan. It removes pressure of how to raise money to service the loan off your head.
Bitcoin price is not really predictable so its not really advisable to loan fiats to acquire bitcoin. If it was a system that had static value I would have taught of it as a genuine idea. Bitcoin investment is really profitable but its not worth getting a loan for. I prefer you buy with the little you can afford and save your self the stress accompanied with debts incase it back fires
I'm buying ~500$ 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?
It could be suggested if it was 2017 or 2019. Because at those years the price of it was at a lower level and it was profitable to invest in BTC. But nowadays, how can you make a decision like this when the market is not predictable at all and there always have a high risk to get lost. Maybe you can do one thing, save your money and till you get another better chance.2017 or 2019 has passed and now we know the situation in that year, but next year we don't know so don't be pessimistic, maybe next year we talk about the same thing in 2019 and 2020 we can do that. , but if I believe I am sure to borrow, just borrow as long as you are ready to take the risk, but if you are not ready to take the risk, don't borrow, and one more thing you have to do understand the crypto market and that must be understood.
It's really not a good idea to make a loan and buy bitcoin. You will not earn from that and you lose for sure. I already tried before investing a small business from a loan and earned nothing, all the amount that I earned from my business is just enough to pay back to the loan shark. I think that is still the same here in crypto. Much better to invest money which is you can afford to lose and just your own money and not from loan.
Basically, going for a loan to make investment with bitcoin shouldn't be a good move from those who understand the volatility of this cryptocurrency. Have seen some good fund manager who went to jail for money in their possession that went drained because of cryptocurrency volatilities. Though, the only route which is acceptable for me is when such investors would invest in Bitcoin for a long-term.
It is not recommended and is one of the very risky things to buy bitcoin from a loan because of the high voting problem. I have made a loan, but with a predetermined maturity. If you are really able to make more money than the loan used, maybe this can be an alternative to making a profit when you have no capital reserves at all. However, if your trading skills are not that good, I suggest not making a loan, because it will only increase your burden and debt.
You really have a lot of confidence and I respect that, but I won't do it, even though I'm sure Bitcoin will continue to increase, I won't borrow money to buy Bitcoin because I don't have collateral for the people I borrow money from. 
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?
If I am in your part I will not do that to make loan and invest in bitcoin, that's too risky. It much better to invest from your own pocket and not from loan. But of course still, it's up to you if you are going to take so much risk in buying bitcoin from your loan. Just be careful and do some studies first on how to invest which you can avoid loses.
If you are confident and strong enough to take the risk, then go on. But if you have doubts in taking loans, please hold back and think for a while...its not that easy to recover everything and deal with the stress of paying your loans if all else fail.
I don't think that loaning to buy bitcoin is a good idea, you are just putting yourself in a riskier situation, investing is risky, and when you lose you still need to pay the money that you have loan. I wouldn't do that ever, I will not take ao much risk in investing, I would rather save money first and use it to but bitcoin instead of loaning but it depends on the person, if you would affect so much from loaning a big amount of money then do it, it seems like you are a strong believer of bitcoin, I am hoping that you wouldn't fail for your decision.
For me it is not a good idea to borrow money to invest in bitcoin or any other investment platforms, if you have a stable job maybe it would be better if you take from your extra salary to invest and do not rush things to make huge investments immediately. Because if you borrow you will still pay the interest of what you owe, but what if you invested is from your extra income it feels better because you have nothing to think about paying in later on.
Loaning to invest is not worth it if you are investing on some volatile market like Bitcoin. These investments can only go one way, either profit larger or being indebted deeper. Its always better to have a capital of your own since the decision will only be yours to choose and its always better to gain more money by your own money.
Loaning or borrowing money to buy or invest in bitcoin is a bad idea because it would only lead you to a much larger debts. Bitcoin is indeed volatile that it is hard to predict when will bitcoin's will go up or down, so there is no guarantee that you will earn money in bitcoin in a short period of time. It's better if you used your own money, even in a small amount of profit for you not to risk too much money in your hands. It depends upon on how he will use it. Loaning can either have good or bad results. I know that it is still better to use your own money but that is the reason why he borrowed money right? To have some funds and make his money doubled or tripled. Loaning will always be risky but without taking risks we'll never learn and be strategic in terms of earning money.
2 BTC is a large amount of bitcoin if you want to have this better to buy into an exchange OP stated that he has already a job and planning to buy bitcoin some of the exchange today requires to have a KYC verification for sure it's easier to you buying a fund like on this exchange. Loaning with the bitcoin is not preferable because it's a large amount of money instead why not buy when the market price of the coin is low you all know that the market of the bitcoin are volatile it's better to become aware.
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