Topic: Loan to buy Bitcoin? - page 8. (Read 6147 times)
I'd recommend against it. Aside from the volatility of Bitcoin itself, you don't know what life has to offer around the next corner. Taking out a loan for a high-risk investment could pay off in the future but in a state of emergency, you might wish you hadn't done that. It might affect your credit score and you'll be in trouble for a while.
This is very high risk, and I will not do it. For me, I will buy BTC from my personal salary, even though it is a small amount. Borrowing Money to buy Bitcoin is not recommended, because buying Bitcoin is not a basic necessity in life. And my advice, use the loan money that you do to meet the needs of your life, do not buy BTC because the risk is very high.
Risk is always everywhere, it will be up to him if he wanted to take risk in loaning some money to buy BTC, or just watching the price goes up as the time is passing by, as per some Billionaires that I have red, one of their strategy is to make a loan and do business. Don't be afraid in loaning some amount which your instinct saying that you should buy it, sometimes after doing research following our instinct is good.
If this is OP really wants, and I think he already planned on how he can pay if ever he loans money, then he can go with his own decision.
yes that's very true, it's a very silly thing for us if we take money loans for bitcoin investments because we can't predict 100% of the bitcoin market price of course this is a very fatal risk, I think if I take a better money loan I opening a real business such as opening a shop or restaurant because with this business we can achieve our income at the end of the month.
I wouldn't suggest you to take loans for buying bitcoin. It makes you nervous that you are using loans and this affects your trading psychology. Psychology is everyhing while trading. You need to have solid nerves so that you can hold. Even if you are not considering to make trades, you are becoming a holder, long term investors. In order not for you to sell your bitcoins in panic sell, you should have some ways to prevent this.
This is very high risk, and I will not do it. For me, I will buy BTC from my personal salary, even though it is a small amount. Borrowing Money to buy Bitcoin is not recommended, because buying Bitcoin is not a basic necessity in life. And my advice, use the loan money that you do to meet the needs of your life, do not buy BTC because the risk is very high.
Risk is always everywhere, it will be up to him if he wanted to take risk in loaning some money to buy BTC, or just watching the price goes up as the time is passing by, as per some Billionaires that I have red, one of their strategy is to make a loan and do business. Don't be afraid in loaning some amount which your instinct saying that you should buy it, sometimes after doing research following our instinct is good.
If this is OP really wants, and I think he already planned on how he can pay if ever he loans money, then he can go with his own decision.
not recommended for passive investors who are just waiting for the level of high-risk price waves, $ 20k is a very large amount. if bitcoin falls at a $ 1,000 price interval, it will make your monthly interest payments very heavy, and conditions could be worse. I also did it but at least I had to see an active profit gap from daily trading.
Loan for investment in anything is a terrible idea, sorry. Risks are too high
That's right a loan for bitcoin investment is a bad idea, when I first traded it had lost $ 1500. And the severity
I got the money from a bank loan. What happened was that I became panicked and stressed, finally closing the
loan I have to sell my wife's car. Then from that the risk is very big, I learned from that experience for do not repeat
again. So my advice is to use your extra money to buy bitcoin, or money that if lost is not problem.
I would also not do it. Especially not in the market we are actually in.
... Too much risk :-/
... Too much risk :-/
This is very high risk, and I will not do it. For me, I will buy BTC from my personal salary, even though it is a small amount. Borrowing Money to buy Bitcoin is not recommended, because buying Bitcoin is not a basic necessity in life. And my advice, use the loan money that you do to meet the needs of your life, do not buy BTC because the risk is very high.
Risk is always everywhere, it will be up to him if he wanted to take risk in loaning some money to buy BTC, or just watching the price goes up as the time is passing by, as per some Billionaires that I have red, one of their strategy is to make a loan and do business. Don't be afraid in loaning some amount which your instinct saying that you should buy it, sometimes after doing research following our instinct is good.
If this is OP really wants, and I think he already planned on how he can pay if ever he loans money, then he can go with his own decision.
It is clear that nobody has a 100% guarantee of obtaining profits, but everything indicates that Bitcoin will once again overcome the $ 10,000 barrier and perhaps much more.
Everyone knows that there is a strong chance of Bitcoin exchange rates topping the $10,000 per coin level once more. But the big question is how long that is going to take. It may occur before the next block reward halving, or it can happen after the block reward halving (which is still around 12 months away). The investors need to calculate their risk taking ability, in case the prices remain stagnant for extended durations.
And from what I have seen during the last 7 years here, I would say that the past price fluctuations can never be taken to predict the future prices. This is a mistake that we made before. Every year, the prospects change and factors that affect the exchange rates also change. And when you are taking a heavy risk as taking a loan, then you need to think about it twice.
Normally this forum is not used to give investment advice and each person must make their own decisions knowing that this is a fairly volatile market, however, reading your data, in my particular case, I would assume that risk, because I really believe that Bitcoin is going to recover and achieve high values, in just 2 days more than $ 1,100 was recovered, going from $ 7,500 to $ 8,618 and this happens often with BTC, despite the ups and downs, its growth has been significant.
It is clear that nobody has a 100% guarantee of obtaining profits, but everything indicates that Bitcoin will once again overcome the $ 10,000 barrier and perhaps much more.
It is clear that nobody has a 100% guarantee of obtaining profits, but everything indicates that Bitcoin will once again overcome the $ 10,000 barrier and perhaps much more.
Investing in Bitcoin with a loan would not be right. Because the Bitcoin market is volatile. If the price goes down it takes a long time to rise again. Then the interest on the loan will increase, and your tension will continue to rise. So, if you have some extra funds, it is best to invest in bitcoin. Not with a loan.
This is very high risk, and I will not do it. For me, I will buy BTC from my personal salary, even though it is a small amount. Borrowing Money to buy Bitcoin is not recommended, because buying Bitcoin is not a basic necessity in life. And my advice, use the loan money that you do to meet the needs of your life, do not buy BTC because the risk is very high.
It is definitely a very risky option to take a huge loan to cover Bitcoin purchase. I won't be very comfortable in putting such a large amount in to a very volatile asset such as Bitcoin. And that too using loaned amount. But if you check history, you can see that those individuals who took similar risk benefited greatly from the Bitcoin spikes of 2013 and 2017. So who knows? There is a good chance that the OP may get 10x or 20x returns from his investment. Afterall, it is his money and his decision.
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 don't see a reason why you would take a loan if you are already accumulating monthly unless you believe that there would be a short pump and you would take advantage of it.But if it is just to add up on your long term investment then I think it is better to stick with what you are already doing.
It would only be great if you are 100% sure that the price would increase to maximize your profit.
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?
You are acting correctly, but judging by the experience of past years, Bitcoin tends to fall during a bear market. Soon it will be, so wait until Bitcoin reaches 5k per coin. You can buy it over profitable but wait a little
No, I wouldn't. I don't like investing large amounts of cash into Bitcoin. Right now I'm accumulating but that's only with Bitcoin I earn through doing jobs rather than by investing my own cash, because there's an insane level of risk in it.
You would be stupid to jeopardize your financial security for the next three years and force yourself to have to live off beans on toast because you wanted to bet on a volatile asset. Bitcoin could easily drop to $3000 tomorrow and stay there for a year - that's over half your money shaved off, and I can guarantee 95% of these 'hodlers' on the forum who got into the community after Bitcoin breached 4 figures would crap their pants and panic sell in a scenario like that.
You would be stupid to jeopardize your financial security for the next three years and force yourself to have to live off beans on toast because you wanted to bet on a volatile asset. Bitcoin could easily drop to $3000 tomorrow and stay there for a year - that's over half your money shaved off, and I can guarantee 95% of these 'hodlers' on the forum who got into the community after Bitcoin breached 4 figures would crap their pants and panic sell in a scenario like that.
Buying bitcoin to invest from loan yields is very risky because it is difficult to predict fluctuating bitcoin movements where the price of bitcoin can change significantly, and you have to think about the risks if your investment fails and it will frustrate you.
actually you can do it without having to borrow because you have a permanent job and if you have the intention to invest large amounts, you can collect a portion of your salary to reach the nominal you are targeting to buy bitcoin for you to invest.
invest in bitcoin don't be too hasty because you also have to do an analysis to buy bitcoin at the right time and choose a long-term investment is the best choice to get big profits.
actually you can do it without having to borrow because you have a permanent job and if you have the intention to invest large amounts, you can collect a portion of your salary to reach the nominal you are targeting to buy bitcoin for you to invest.
invest in bitcoin don't be too hasty because you also have to do an analysis to buy bitcoin at the right time and choose a long-term investment is the best choice to get big profits.
If I were in your position at least I would do it with good reason about beliefs regarding this matter. Basically you have a fixed salary every month at the company where you work and you have assumed the company is doing well, maybe we assume the company will be fine for a long time, so that is a strong reason for us to borrow money maybe at banks or wherever that does provide as many loans as desired, and at least guarantees will definitely be needed for loans like this. I guess that won't be a problem as long as we are sure and remain at the main goal of long-term investment in bitcoin.
Investing is difficult, and, in general, is not necessary once or twice. No one can guarantee profitability when trading on the exchange: neither we, nor the management companies, nor the exchange itself. Even if you repeat all the steps from the article step by step, you can not expect the same return. That is why, even though bitcoin looks extremely promising on long-term horizons, anything can happen in the world anyway and you need to understand all the risks that you take.
It is not advisable to loan just to buy bitcoin. It is true that bitcoin is profitable but do not settle for inconsistent coin. Right now, bitcoin is in the process; do not rush thing thus do not loan.
This is true that bitcoin is a good investment and a profitable coin. Why not he buy bitcoin from his own salary? Choosing to have loans just to buy bitcoin is a big risk let’s just invest in how much we can afford in buying btc. We should remind ourselves that price from the start of btc is unpredictable. Do not do stuff of getting loans that in the end may cause of burdens.Jump to: