Newbies take my advice - page 3. | Bitcointalksearch.org

Kulkhan

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Quote from: Sourhearrt on June 11, 2020, 02:36:47 AM

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations Huh

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

Yes it is very Important for Newbies and New comers. I think we have to Aware about it. If we couldnot Aware about it we will fall very denarius situations. So i think it is very importantfor all of us. Many many thanks for your important information. And i yhink it will be very helpful for us in future in Bitcointalk.

South Park

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Quote from: Squezzi55 on June 20, 2020, 09:47:34 AM

Professional traders still lose money to trading, who would be so stupid enough to get a loan for trading when you can't even predict where the market is heading?? We even have many fake trading analysts in crypto space that comes out with fake predictions, well I know what's good for me, if you know what's good for you don't even try it

Since you are new to the forum and you seem to have the right idea about this it may seem inconceivable for you that people ask for a loan to trade or to invest, but believe me it is incredibly common, right now we are not seeing many cases like that since the ico fever and the hype for bitcoin has subsided, but in 2017 there were many stories of people that bought at the top of the bubble and lost money they did not even had, many held their altcoins until they crashed all the way to zero and now they have to pay a huge debt for which they got nothing in return.

Kong Hey Pakboy

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Quote from: Stanlo on June 23, 2020, 03:43:45 AM

Quote from: Sourhearrt on June 11, 2020, 02:36:47 AM

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations Huh

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

This warning is life saving for those who don't know, thanks for sharing, newbies can easily do this mistakes and end up in a pretty big bad debt, taking loan to open a business is good and big opportunity but taking loan for crypto is not a good move, risks are huge in crypto space

Precisely. I experienced this kind of mistake way back 2018, which I loan a money to my friend, so I could invest it in a coin. Suddenly it all ends up getting myself having a big debt to my friend because from that time the market is down and it takes a long time for the coin that I have bought to increase.

Stanlo

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Quote from: Sourhearrt on June 11, 2020, 02:36:47 AM

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations Huh

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

This warning is life saving for those who don't know, thanks for sharing, newbies can easily do this mistakes and end up in a pretty big bad debt, taking loan to open a business is good and big opportunity but taking loan for crypto is not a good move, risks are huge in crypto space

slashz9

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well, actually it can be done or not depending on the situation and conditions many people see this opportunity in 2017 and try the next year, even though the market is still unpredictable, they think that the next year the market will rise again.
so the problem of borrowing money is not a problem because large companies that are developing must have debt.

irixo10

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I can only but hope a good number of newbies will come across this because it is indeed a lifesaving advice for them or will I say for a good number of people too. The truth first is, the crypto space is volatile meaning no one can say or give an assurance on any coin whatsoever, thus taking a loan to invest in something of that nature is sucidal, hence the reason for the emphasis to invest only what you can afford no matter how small it might look to you or to other people (if at all you tell them).

pilosopotasyo

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Quote from: Sourhearrt on June 11, 2020, 02:36:47 AM

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations Huh

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

Your advice should only not for newbies only there are old and veteran investors who still falls for FOMO without even aware of the risk involve on it, I have seen many old traders still falling to FOMO's, if you are an old trader, you are exposed to so many projects that sometimes it's hard for you to think if the project is legit or just FOMO project.

coin-investor

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Quote from: Sourhearrt on June 11, 2020, 02:36:47 AM

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations Huh

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

That's disastrous you should not even entertain this idea, I think you will not if you will just make this mantra to only invest what you can afford to lose, money loan posed a greater risk to your health because if ever you lose that loan, you have a problem repaying it with interest, people are asking for a loan because of FOMO they think they are going to make a profit out of it.

Jennygirl

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I remember 2017 was a critical period in the cryptocurrency space as several people joined the space, making substantial gain from ICO's and the market expansion. Its important for people to know that the space is not worth using borrowed funds. One could make excess money out of little investment and also lose out of a seemingly legit investment.

coinsycrip09

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Quote from: JeotQ on June 19, 2020, 11:21:13 AM

Taking loan can change your life or put you in more troubles, I'm more familiar with taking loan to establish a real life business but not for crypto, taking loan for crypto is high risk plan and I'm so against it

yeah, i've found several people who made loans for profit in crypto and it all ended very badly. i don't want to say this, but i don't like people who do things that are beyond their means.

i hope no one will suffer the same fate as them. in crypto must use funds that we have ourselves and use funds that are not used for everyday life. i think it will be more useful than borrowing.

rodskee

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Quote from: JeotQ on June 19, 2020, 11:21:13 AM

Taking loan can change your life or put you in more troubles, I'm more familiar with taking loan to establish a real life business but not for crypto, taking loan for crypto is high risk plan and I'm so against it

Taking a loan without any proper education with investment that you'll going to invest your loan money is just like throwing
your money away.
But if you have good knowledge and you are willing to take the risk with something that you fully believe then it's not a bad
decision if ever that you borrow money.
The only thing that weight things out is your capabilities to handle pressures and the knowledge based on the actual situations.

Quote from: luckyflop on June 20, 2020, 07:19:28 AM

It's also a risky investment, but it will be a lot safer than cryptocurrency. I also borrowed money to run a business, which made it difficult for me at the beginning but I quickly got over it. I have never borrowed money to invest in this market because it is too risky. The price could collapse at any time and make me lose

The volatility inside the market makes investors to think twice entering to this industry, though it's also gives opportunities
to those who are good in assessing the trends.
Invest only if you know all the grounds behind the investment venue that you'll going to take.

memed97

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Quote from: Squezzi55 on June 20, 2020, 09:47:34 AM

Professional traders still lose money to trading, who would be so stupid enough to get a loan for trading when you can't even predict where the market is heading?? We even have many fake trading analysts in crypto space that comes out with fake predictions, well I know what's good for me, if you know what's good for you don't even try it

Obviously it would look very foolish if someone makes a loan to trade in crypto, because the crypto market is very difficult to predict so it is not easy to find profits there, so if there is someone who imagines large profits in crypto trading with loan capital, then he is again dream in broad daylight.

Squezzi55

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Professional traders still lose money to trading, who would be so stupid enough to get a loan for trading when you can't even predict where the market is heading?? We even have many fake trading analysts in crypto space that comes out with fake predictions, well I know what's good for me, if you know what's good for you don't even try it

rahmatullah9305

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Quote from: Gorosden on June 20, 2020, 06:45:09 AM

It's still good to get into loan for bitcoin than altcoins, many altcoins are scam, do not put your future in debts that you won't get out of forever, let me see, the only reason I can get loan for bitcoin is if Bitcoin suddenly lose huge value

Getting a Bitcoin loan is good, but if you don't have knowledge in managing it or trading knowledge, it's better not to borrow, because when you lose it will also be very difficult to repay, for me personally it's better to use your own money to buy Bitcoin according to your ability us, rather than borrowing from other people.

South Park

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Quote from: Jawhead999 on June 11, 2020, 02:58:06 AM

According your explanation, it's not because of they getting loan to invest in altcoins... Buy they decided to invest when FOMO and not learn what they invest for. Knowledge is the most powerful while you want to start invest, you shouldn't only following the analysts prediction. Not all analysts is expert and know about cryptocurrency. Most of them is only shilling their project/service.

Quite honestly both are bad, except for a few coins investing in altcoins seems to be a bad idea, however investing for the FOMO is just as bad, however while there are some traders that use margin trading, which is nothing but trading with money you have borrowed from a broker, the truth is that most traders should never get any kind of loan or money from someone else to trade, but people get greedy and they think that if they have more money as their capital then they can get more profits, a concept that it is not mistaken but it is definitely a mistake to increase it by asking for a loan.

luckyflop

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Quote from: JeotQ on June 19, 2020, 11:21:13 AM

Taking loan can change your life or put you in more troubles, I'm more familiar with taking loan to establish a real life business but not for crypto, taking loan for crypto is high risk plan and I'm so against it

It's also a risky investment, but it will be a lot safer than cryptocurrency. I also borrowed money to run a business, which made it difficult for me at the beginning but I quickly got over it. I have never borrowed money to invest in this market because it is too risky. The price could collapse at any time and make me lose

Gorosden

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It's still good to get into loan for bitcoin than altcoins, many altcoins are scam, do not put your future in debts that you won't get out of forever, let me see, the only reason I can get loan for bitcoin is if Bitcoin suddenly lose huge value

bearexin

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If the institution you’re taking loan from knows that you’re investing it in Bitcoin or anything such as bonds, mutual funds, etc., I don’t think they will agree to give you that loan, because they already that such things carry high risks and you might lose that money which will result in a default. And if anyone is still thinking whether or not they should go ahead and take the loan from a bank, then my answer is a 'NO', it’s a bad idea.

If you lose that money you will end up regretting the day you took it. And paying it back will be a really difficult thing. Getting loan itself is a high risky thing and then risking that high risk money into trading gets you another layer of risks which should be avoided as per basic money management principles. Always our risk levels should be within our affordable limits, should not be multiplied by loaned money.

10BTCaDay

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Quote from: Romeotom on June 19, 2020, 01:16:43 PM

Never accept loan and then invest in crypto, here is your own risky. Although if you're getting loss in your invest then how you recover loan? I want recommend everyone new crypto user. Don't sales your personal life assets, don't take loan in bank otherwise you can face big problem in your life.

if a person loses credit money, then he will return it from the money that he will earn at work or in some other way, but I believe that he will always be able to return this money, but if he will not take this risks than he will never earn money

Shallow

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Quote from: Sourhearrt on June 11, 2020, 02:36:47 AM

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations Huh

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

That is true, taking loan to invest in crypto is totally a bad idea no matter how good, attractive and unique the project is, investing what you can afford to lose is the best way to get started or get involved with crypto investing. Most times I see people hyping a particular project but taking a closer look at the project, you will realise it have nothing to offer, now just imagine someone taking loan to invest in such crap project, who will be blamed at the end? The person who invested.
Although this attribute or act can be found most especially within newbies I also think the advice should extend to everyone.

Topic: Newbies take my advice - page 3. (Read 1802 times)