Topic: Newbies take my advice - page 8. (Read 1811 times)
Knowledge is power, knowing what to do at the right time is the best in life, collecting loan to invest in crypto is nothing but a very wrong move, is just like gambling with loan cash, it will definitely end in tears. Crypto space is unpredictable, so is advisable to go in with only the money you can afford to lose, I hope newbies learn from this.
Really good thread. I think that now no one is borrowing for investment. In 2017, it was a big hype because of which everyone did stupid things. I heard a story about how a man sold an apartment for the sake of cryptocurrency, terribe. I remembered the previous hype on the crypt 
maybe we are very lucky here because we don't make loans that will only be used for investment and trade because there are still many people around us who can't repay loans because the market after 2017 never returns. gold is exchanged for silver and silver is exchanged for iron and they will continue to stress.
as I said before that investing is full of risk, if you are not ready then you will also easily lose money, especially wrong investing your money in coins that are difficult to develop. if you don't want to take a high risk, it's better to invest with BTC.
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.
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.
How are you sure they are still in debt till today, some people will write some things and you wonder what is their source, people lose money in 2018 bear market both experience and newbies, the most important thing is to have calculated risk because no risk, no reward. So basing your argument on the bad side of an event is skewed view, some people made life changing money in 2017/2018. The first BTC I bought was from the money I borrowed and it set me on a path to better life, I am in my own house today thanks to that decision.
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.
My friend took a loan in a bad situation and, as they say, took a chance. As a result, he gave a loan to the bank and raised a good percentage on the exchange. Now he has become a trader and lives on money, trading on exchanges. Deals only with this. Although earlier, he said that cryptocurrency is a hoax. I do not urge to take loans, but in life this happens in different ways. 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.
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.
Doesn't matter at what time they are investing, you should never take loans from someone else to make any kind of risky investment. Altcoins are actually a very risky investment. If you are planning to make investment of new altcoins, you are likely to suffer from huge loss.Its best to invest using your own money. Better to invest small amount of your own money rather than risking someone other peoples money. If you can't afford to invest, then don't invest at all.
Borrowing money is also not so easy on the internet, you need to give more than just an identity to borrow it. however, so far, I have avoided as much as possible such things. the risk is too great if my calculations are not what I think. even more so if I use the money for investment or trading.
Crypto investment is indeed a very high risk, if we are new to the crypto world we must invest a small amount first, if we put forward our desires then the effect will be as you mentioned above.
Yes, if you are still a newbie in terms of investment, then it is better to try first in a small amount so that you do not regret if there is a loss, do not immediately prioritize the desire to get rich quickly, because looking for money to get rich is clearly not going to be easy for anyone.If you are investing using your loan money then crypto is not the best choice to take venture in cause there is no guarantee of your money back. You are just putting borrowed money at risk, cryptocurrecy is very much volatile in a sense your investments can be gone in just click of a finger. Make yourself atleast knowledge enough before making any investments using your own hard- earned money.
I guess a lot of newcomers and newbies aware about this and it looks like the majority of people who have borrowed some money used it to trade in the market. i rarely saw someone who invests in ico use the loanThe volatile is the main reason why we must avoid to do that. You're right about this.
I do remember a guy in reddit who took out a loan against his HOUSE to buy bitcoin at a leveraged rate. I have never actually heard anything more insane in trading world, I have seen many crazy stuff but nothing beats that out.
Dude didn't sold his house or lost his house thankfully, he just had enough income to cover all the loan per month and probably still pays it to this day because it was a 5 year loan however he didn't had saved money aside so he said "if I can pay this loan, I will just assume it is savings" and took it out, obviously if he saved it would be a lot more because there is interest involved. Thank god he didn't lost his home because that would be a lot more upsetting to hear about.
There are tons of people who do these type of idiotic moves and I would never know why they think it is a good idea.
Dude didn't sold his house or lost his house thankfully, he just had enough income to cover all the loan per month and probably still pays it to this day because it was a 5 year loan however he didn't had saved money aside so he said "if I can pay this loan, I will just assume it is savings" and took it out, obviously if he saved it would be a lot more because there is interest involved. Thank god he didn't lost his home because that would be a lot more upsetting to hear about.
There are tons of people who do these type of idiotic moves and I would never know why they think it is a good idea.
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.
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.
Yea, borrowing money for investment here is very risky as this market is very unpredictable. But i can add here if anybody want to invest your money in any altcoin must read that coins roadmap first and company details also. On the other hand don't invest your all money in the same coins so that if you lose one coin you can recover by another coin.
thanks.
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.
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.
I think it is important not just in crypto trading but in all others aspects of trading to know first how the market works before thinking of investing in it. The crypto market is so unpredictable and volatile that it will cause you to lose your hard earn money if you don't know how to trade. You much first learn and acquire a bit of confidence before trading.
yes I agree with what you say if we want to invest do not borrow money, especially if it has a sizeable interest such as borrowing at a bank. in the past when the price of bitcoin was above $ 15k someone in my country sold a house and borrowed money in a bank and after a bitcoin dump he felt frustrated because he suffered a loss and couldn't pay debt so he decided to hang himself. follow the OP recommendation
If you are investing using your loan money then crypto is not the best choice to take venture in cause there is no guarantee of your money back. You are just putting borrowed money at risk, cryptocurrecy is very much volatile in a sense your investments can be gone in just click of a finger. Make yourself atleast knowledge enough before making any investments using your own hard- earned money.
Then that person should be ready to pay debt for the rest of his or her life, do you know how peaceful it is when you lose your money compare to losing someone else money??? Taking loan to invest in crypto is digging an early grave.
Yes, those who owe for the sake of investing in crypto are very ridiculous, because crypto is a very difficult thing to guess and the changes are always happening every day, let alone paying debt in the crypto world, paying debt in the real world is very difficult, so people who in debt for crypto is a very stupid person in my opinion. 
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.
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.
That will be a grave mistake to do that, all investments are risky but I think crypto is most riskier investment so it not advisable to be done with loan, better to make investment with personal money than loan, as much as it is highly profitable so is the risk, it is possible to lose it all within a twinkle of an eye, I hope newbies will learn from the experience of others in the past.
You never need to go on about someone’s opinion (yes, read, analyze), you always need to look for primary sources and think with your own head and calculate your own funds that you are ready to lose, and even more then blame someone.
Crypto investment is indeed a very high risk, if we are new to the crypto world we must invest a small amount first, if we put forward our desires then the effect will be as you mentioned above.
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.
Very good advice, and advice like you have given has also been submitted several times by my own teacher and this is indeed very true, because frustration because debt through crypto is very depressed can even result in suicide.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.
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