Topic: Newbies take my advice (Read 1811 times)

As long as they know what they're doing, taking loan or borrowing money is fine. Not every newbie on crypto are bad or don't know the concept of loan and all its benefits, risks.

Newbies are bad at anything so of course, loans and borrowing money to them is like throwing your money out of windows. To be honest, we shouldn't allow most newbies to take loans and borrowing money and that would actually help them.

If the newbie has dared to make loans for crypto, then he is a very smart person, because if he is stupid it is definitely not going to dare to borrow and take high risks in crypto, because to look for profits in crypto also requires time.

This advice is only for Newbies because they aren't actually a technical analysis based trader.They just fall in the trap of Fomo buying.
They even don't look at the fundamental of any project.So first be sure you are a experienced trader then invest by borrowing or anyway doesn't matter.

Let the newbies taste what is the possible risk from taking loan or borrowing money without any throughout thought about what they intend to do with that amount. Crypto is a high-risk environment that not suitable for any simpleton.

What if something bad happens to your investment, and your loan has arrived at repayment time. Borrowing money for crypto investment is not the right thing, unless they invest in gold. Don't think of profits, but think losses. Because everyone will be happy with the benefits, but it is difficult to accept if losses occur.

sorry op but this advice is for all . all of us are willing to loan to support our needs or addiction  and there are those that take loan to gamble . thats more risky than investing/trading , id say its better to loan to invest or trade than to gamble but we can also get lucky and win  . loaning and loosing at the same time is double the problem than a normal losses without loans    .  i dont recomend anyone to loan but if we cant resist it we can pause for a while and  lets try & see if what we can do to earn  before we do it  .

Loans are not good for traders or investors, it leaves you desperate, anxious and clouds your judgements while trading. To earn from crypto currency trading or investment, you need to use funds you are able to lose and also gain the necessary skill to excel and make profits from trading

Exactly. That was the brightest thing and practical way to do. NEVER ever borrow money to use on investment or trading. If you are really sincere and wanted to do trading and investment, better use your own money. If you do not have enough money to do such things, better set back for that was already a sign that you are still not ready for engagement into trading nor investing.

There is always a saying that I always read and become the most common advice among newbies that upon deciding to invest or trade "only put up the amount you have and only you can afford" which means that give only what you have. If you do not have any, then basically you are still not ready for investment and trading. Borrowing money will just give you headache and frustrations thinking how can you be able to pay back the money you have borrowed most specially when the investment you have done takes time and same thing with the trading. It would be such a relief to use your own money so whatever happens, it would be just your problem within yourself and you have nothing to worry how can you pay your debt into other people. People must know especially for the newbies that trading and investing is like risking your money to seek for better opportunities that it will gain profit. It would be so nice and calm to risk your own money rather than having that conscience in your mind risking other people's money that might fall into disaster.

I wonder why someone in his/her right senses will borrow money to invest in a highly volatile asset like crypto. Sometimes we don't have to put the blames entirely on newbies who invest this way with borrowed funds, it depends on the orientation they got before venturing into crypto. Someone who didn't know I'm into crypto was advising me to invest in LINK, that he just did and it will touch 100$ soon, little did he know that I'm a pro in what he claims to be a pro in. Imagine if I'm a newbie and got that kind of advise from a trusted friend, and maybe at that time I needed to make money by all means and decided to borrow to invest in LINK. Let's be mindful on what we tell newbies in crypto, let's stop making it look like a, get rich quick scheme.

To start something we will have to take risk first as no one know what will happen next if he will win or lose in his businesses so everything has a beginning point that we all have to go through starting investment is also full of risk you may lose or win but to be successful you will have to be ready for facing risk. Loan taking is not suggestible but still I would take loan not so big loan but just a miner that I can afford to lose.

It's not good to go for loan when you have limited experience about crypto, the risk is huge and you can lost all your money, even if it's your hard earned money it's better than going for loan, it will put you in more trouble

Well, mostly newbies does’nt think of the best options when it comes to investing in crypto. Regrets always experience because of also impulsive and panic selling in trading. This is really important to know the risks in crypto to avoid losing money. And borrowing money or taking a loan is not the best options rather gaining knowledge could help us in anyway in crypto.

If you make a profit from investing in this market, everything will become very easy. But if you're at a loss then I believe that things will get worse, I've been in that case and it's hard to overcome.

I can totally agree with this opinion. Starting a business with loans or debts is a complete failure. It can go wrong and lose all your funds. And you need to be prepared for all losses and, in case of loss, do something else to grow your business.

If investing in ICO and IEO is very risky compared to us trading. Trading we can monitor the price of coins by themselves. If indeed the market is deteriorating, we only hold stable coins. While ICO and IEO investment the price of coins is still in the planning. Not necessarily after listing the price of a coin will be the same when we invest. Borrowing money for investment is indeed a bad thing, because we may not necessarily have benefited when the loan bills are due.

I'm not so against taking loan, sometimes they are life saving but that's in the real world not on crypto, I've never do this before, the first thing that come to my mind is the risk of crypto which can't be compared to real life business

no matter the coin, actually more to the market situation, if people are accustomed to trading trading, and pay attention to market conditions, then any type of coin they can still benefit.
but if you just buy without any analysis then it's the same as gambling.

Nobody does that, you can't be gambling with borrowed money, because you lose or gain, you must refund d money you borrowed. Newbies should please learn from this.

Online experience will never be like that of offline experience, without the right knowledge about crypto you will keep making unnecessary mistakes, you can't be in haste of making money in crypto space without falling victim to scam, imagine someone with no proper experience know decide to go for loan to invest in crypto, losses is certainty