Topic: Newbies take my advice - page 6. (Read 1802 times)
Getting loans and borrowing money is a very risky option to earn in cryptocurrency. For me, it is still a luck if you earn big profits in cryptocurrency. It's just a bigger chance to lose money in crypto business if you have no capital and then taking the risk of borrowing or loan.
That is absolutely right, there are a lot of people who are joining here for making quick money, and they think that they will give this debt money back, after gaining some profit. But as you above mentioned it will not the same as them expected. If you lose your money, there is not any big problem that is why this money belonged to you. On the other hand you must also pay your losing money to person, whom you have borrowed some money.
yes, you are right, personal money is advise to be used in crypto investment because even though is gonna yield the time for loan repayment might have lapse thereby be in serious debt as interest will be increasing, as one will even regret of borrowing in the first instance. its not advisable.
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
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.
Investments should be made from our savings in the beginning stage, then only we can find some profits and sustain here for longer.Once you made lot of money and have enough savings for your survival then you can move to high risky investment with loan money. 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
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.
all forms of investment and trading are certainly high risk especially if you cannot manage your financial management properly. Newcomers often think that crypto is very beneficial or can make you rich quickly. and I also agree that it's better to invest only what you can afford to lose.
Borrow money is definitely big risks not only for newbie members likes if anyone getting loan for a few weeks or months then who's have to be paid within a specified period. So it’s also huge mental pressure i think. Even also we should invest own money how much will affordable.
It's too risky if you want to invest in crypto from the proceeds of the loan. We should have assets that really come from what we have and are not being used for daily needs. It is better we can understand first the risks that will occur if we plunge into this investment before actually engaging in it.
Let's not make too big of a deal out of it. Most people who invested in cryptocurrencies at any point in time made money.
You had to really be unlucky to invest in the top of 2017 because you had maybe a month in 10 years of Bitcooin's history where buying was not a good idea. 1 month in 120 months was unprofitable!
Taking a loan to invest isn't such a bad idea if you know what you're doing. Most people who lost money put it into scams not real cryptocurrencies.
You had to really be unlucky to invest in the top of 2017 because you had maybe a month in 10 years of Bitcooin's history where buying was not a good idea. 1 month in 120 months was unprofitable!
Taking a loan to invest isn't such a bad idea if you know what you're doing. Most people who lost money put it into scams not real cryptocurrencies.
I've seen people who tooked their lives because of debt, I'm strictly advising you guys to stay away from unnecessary debts, crypto is not something you can take loan for, it's a very high investment plan, better to use your own money and if you lose the money it's better than having to repay back
Investing in crypto is always high risk; The amount of profit here is quite high as well as the risk. There is a fear of losing capital. So I agree that investing in altcoins with borrowed money is very risky. In 2017, almost all altcoins reached all-time highs at that time. Like other investors, I was a victim of that time. So stay away from using borrowed money as investment capital.
Taking loan is double debt, to yourself and the other who own the money, this is not a good idea, if you want to build a good business loan might be the only answer but with crypto losses are certain.
Well some persons took loan in 2017 during the bull run with a great confidence of prompt repayment. Some of them loss their savings and properties. I am sure they know better now. If an expert knows what he is doing, he can take a loan and hit big. Neophytes must never try it, it can spell hell.
Firstly, everyone should think with his own head what to do. if a person has absolutely no money for investment and he is willing to take risks, then he can take a loan. the most important thing is to clearly understand why he needs it.
Secondly, a person must understand that he can lose his money and will have to give back his credit, but he will not die from it. I don't see anything wrong in it
well of course we all must be able to take steps, at least before deciding which coins to buy must be able to see how the development of these coins and what platforms are widely used by the people, because cryptocurrency price movements depend on demand means that more people use it then the price can be expensive, so stay careful by taking risks. Secondly, a person must understand that he can lose his money and will have to give back his credit, but he will not die from it. I don't see anything wrong in it
Firstly, everyone should think with his own head what to do. if a person has absolutely no money for investment and he is willing to take risks, then he can take a loan. the most important thing is to clearly understand why he needs it.
Secondly, a person must understand that he can lose his money and will have to give back his credit, but he will not die from it. I don't see anything wrong in it
Secondly, a person must understand that he can lose his money and will have to give back his credit, but he will not die from it. I don't see anything wrong in it
Surely will...that's an awesome advice, I will take note of that ☺
I do not agree with you, look at how many traders are using leverage trading? This is a kind of loan and it could be very profitable if you know what are you doing. So, if you are skilled enough you can borrow some money and buy more cryptocurrencies. Loans are now very cheap. 
Also you should never take a loan for the investment purposes as there are high chances even in a safe investment of sinking and then you will be left with a huge debt to pay and most probably you will default on your loan if you have no other source of income.
Yes, getting loan for trading purposes has some meaning at least compared to loan for investments. Because most loans are coming up with interests and when your investment cannot be a limited time bounded, how you will repay the loan? It means that interest will go beyond the profits you may get from the investment.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.
I agree crypto investment is high risky one but there are multiple methods are available to eliminate the risk part of crypto trading. When we are choosing the crypto coins very carefully then we can easily remove the risks of crypto investments. Compared to crypto trading, crypto investment is coming up with less risk. So, newbies should focus on investing only on highly reputed coins like bitcoins and those investments should be with longer duration based plans. Risk management is very important in crypto space, if you haven't got one its better to plan one up, you will easily recover if you have a risk management planned, the most important thing is never invest what you can't afford to lose
Yes, and risk management is often done by people who are professionals and who already have a lot of experience in terms of investment, even though this is very well done by everyone including newbies in investment.They must think a lot of disadvantage by using the loans to invest in crypto.
yaps, FOMO ( buy the pump - panic sell the dump )
The biggest mistake is also in 2017 and after that, scam projects have begun to emerge. at that time many people were investing in scam projects because of lack of knowledge about crypto and also many who contributed to the scam project, it was a big mistake. finally now they are losing, and lots of losing money.
I think people who invest in crypto and who get profits, are people who are always open-minded and have a strong mentality to regulate our own emotions. also not in a hurry in making a decision. one more thing, there are still many people who are greedy and think of getting rich overnight with crypto.
The biggest mistake is also in 2017 and after that, scam projects have begun to emerge. at that time many people were investing in scam projects because of lack of knowledge about crypto and also many who contributed to the scam project, it was a big mistake. finally now they are losing, and lots of losing money.
I think people who invest in crypto and who get profits, are people who are always open-minded and have a strong mentality to regulate our own emotions. also not in a hurry in making a decision. one more thing, there are still many people who are greedy and think of getting rich overnight with crypto.
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
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.
You should edit this part which I have bold out as every investment is a high risk investment and you should always think before investing in an asset as it can always loose its value in the future, it isn't specific for cryptocurrencies only. You can also see a lot of stock market companies that have lost a lot of value in the past 3 years and if you would have invested in those companies then also you would have lost your money. 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
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.
Also you should never take a loan for the investment purposes as there are high chances even in a safe investment of sinking and then you will be left with a huge debt to pay and most probably you will default on your loan if you have no other source of income.
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