Newbies take my advice - page 9. | Bitcointalksearch.org

memed97

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Quote from: Sourhearrt on June 11, 2020, 03:36:47 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.

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.

btccoffee

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Indeed i totally agree with your opinion and this opinion very famous in this furom, back in 2017 so many people are become so crazy when they saw bitcoin going up to 20k and so many altcoins also booming that time. If you get money from a loan and you buy at the peak price of some altcoins before then maybe until now you are still paying your dept with that loan.

bittick

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Quote from: BD Crypto on June 11, 2020, 07:42:01 AM

Your advice will work for newbies obviously.Anything in crypto can be happened. For this we should be alert and should make proper analysis to enter altcoins market.

Proper analysis with a good risk management can make your loan successful.

There was no guarantee for our loan to be successful and even with the proper analysis and the market can turn into the reversal trend anytime. If there was someone use his loans to trade and when it was losing his money caused by the volatility and he can't do anything and he must also pay the interest.

Towerbreeze

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Quote from: LogitechMouse on June 11, 2020, 09:25:18 AM

Quote from: Sourhearrt on June 11, 2020, 03:36:47 AM

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

I'm the one who tried this. Borrowed money in 2017 just to hold some EOS token.

Luckily, the one who tried to borrowed rejected my loan and after that I didn't tried to buy EOS token at that time. The rejection is somewhat a blessing in disguise though because the year after it was the year of hell. All coins including BTC went to a massive massive correction. If the lender gave me the money and bought EOS token, I would be in a huge loss right now and in heavy debt. Would say thanks to the lender though that didn't gave me money to buy EOS that time Cheesy

.

Consider yourself lucky, it would have been on hell of a fight for you to pay back the loan right now, many who took loan in 2017 are still in debt today, do not try such ever again, use your money to take risks not others money

LogitechMouse

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Quote from: Sourhearrt on June 11, 2020, 03:36:47 AM

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

I'm the one who tried this. Borrowed money in 2017 just to hold some EOS token.

Luckily, the one who tried to borrowed rejected my loan and after that I didn't tried to buy EOS token at that time. The rejection is somewhat a blessing in disguise though because the year after it was the year of hell. All coins including BTC went to a massive massive correction. If the lender gave me the money and bought EOS token, I would be in a huge loss right now and in heavy debt. Would say thanks to the lender though that didn't gave me money to buy EOS that time Cheesy

.

matchi2011

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Quote from: tabas on June 11, 2020, 08:55:18 AM

Many of those people that forced themselves to borrow to invest in bitcoin were during all-time high of 2017. It's truly bad to see them disappointed and lost a lot of money because they didn't do their research before they've invested.
A lot of newbies should take this advice seriously because you'll be rekt if you don't listen.

It serves as a key if you will treat those past experienced seriously, you'll be able to learn coming from other's mistake. Take one step at a time and closely
observes from how will you gain benefits and to avoid committing mistakes.

Loan money is not a good idea if you are not sure with investment that you are going to invest, make sure to investigate and do your hard research to learn more deeper from this business.

CryptopreneurBrainboss

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Quote from: Sourhearrt on June 11, 2020, 03:36:47 AM

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.

In every reasoning, there's always an exception. I have seen individuals make use of borrow funds and succeeded in making profit with that funds on numerous occasions although that doesn't mean I'm advising you to go do the same. Just study yourself and get familiar with what favors you. Take advantage of that and built on it as some individuals are very good at working under pressure to get positive results which using of borrow money as capital can be related to.

Still though you have to understand that any decisions you make that you're responsible for the outcome and should be willing to accept it. Cryptocurrency isn't your regular investment class, it's very volatile as such what works and in other areas of investment might not give you exact result in cryptocurrency.

Ryushin

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Asking for loan to invest on crypto is not advisable, the rule was to invest what you can't afford to lose, using loan is investing what you really can't afford because the money is never yours to begin with, that's a huge risk, absolutely not advisable

tabas

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Many of those people that forced themselves to borrow to invest in bitcoin were during all-time high of 2017. It's truly bad to see them disappointed and lost a lot of money because they didn't do their research before they've invested.
A lot of newbies should take this advice seriously because you'll be rekt if you don't listen.

raidarksword

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Investing a borrowed money to crypto investments such as trading is really hard to stomach hence there are no guarantees on trading if you take profit or not, much worst a highly debt in results in the end. It's best to make crypto investment on our own money, little by little will do and it's good start up for all newbies out there. By doing this, it will help more to understand on how to take good care of our hard-earned money.

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Quote from: Buttercup123 on June 11, 2020, 08:37:22 AM

Quote from: Natalim on June 11, 2020, 07:08:33 AM

The big mistake you are gonna make is when you borrow money and you already expected a profit, and you don't think of the risk that you might also lose.
In investing, you need to be realistic and that means you need to open your eyes on the risk not only the reward.

Borrowing money is not bad, a lot of investors or businessman borrow money and risk because they believe on their capacity to grow it, but if they fail, they has to make sure they can still pay because you can't make an excuse that you can't pay because you lose your investment.

Borrowing money to invest on crypto currency is very risky, you cannot predict what would happen in the market you can lost your money instanty. Just like OP said an inexperienced investor should invest only the amounts that he is willing to lose without serious consequences.

I think when you do that it is not only risky but it can be said that the soul is dead because when you use the money borrowed for cryptocurrency trading it is a very big mistake, cryptocurrency can never be predicted how the price moves.

Buttercup123

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Quote from: Natalim on June 11, 2020, 07:08:33 AM

The big mistake you are gonna make is when you borrow money and you already expected a profit, and you don't think of the risk that you might also lose.
In investing, you need to be realistic and that means you need to open your eyes on the risk not only the reward.

Borrowing money is not bad, a lot of investors or businessman borrow money and risk because they believe on their capacity to grow it, but if they fail, they has to make sure they can still pay because you can't make an excuse that you can't pay because you lose your investment.

Borrowing money to invest on crypto currency is very risky, you cannot predict what would happen in the market you can lost your money instanty. Just like OP said an inexperienced investor should invest only the amounts that he is willing to lose without serious consequences.

numpadxx5

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Quote from: Sourhearrt on June 11, 2020, 03:36:47 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.

Investing in cryptocurrency could be a good investment, or it could not. That is true for cryptocurrency in general and likely for investor.Be aware there are many risk in investing any coins, my advise to the newbies it is wisely to take some advise for more experience investor before investing on any coins in the market

Furryball

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Quote from: Sourhearrt on June 11, 2020, 03:36:47 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 is very true, many start lending money to join the FOMO train in 2017 when Bitcoin and other coins start bulling, I belief altcoins are able to reach a new all time high back then because many new money flow into crypto, this is why I think it will be extremely hard to see altcoins at their ATH again but only time will reveal that

OasisDre

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It's really better not to engage in loans for crypto, this isn't a real life business, online experience is way different and more risky, the biggest mistake that many keep doing over again is buying coins at a very high price, it's wrong

BD Crypto

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Your advice will work for newbies obviously.Anything in crypto can be happened. For this we should be alert and should make proper analysis to enter altcoins market.

Proper analysis with a good risk management can make your loan successful.

Ken_terrance

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Quote from: LuciferMorningstar on June 11, 2020, 06:26:10 AM

Loan or borrowing money to invest in crypto is not a problem. Just like you go to the bank to take a loan but for open business. If you take a loan or borrowing money and decide to invest in Bitcoin when it at $5000 or Ethereum at near $100, you could have x2 them right now. See, not so bad at all right?

The risk here depends on the borrower himself or herself, there are some things to be careful about here
1. The right time to buy, don't go and get loan on Bitcoin when it's trading at 12,000$ you will get rekt, only do this when Bitcoin dumps big
2. Altcoins are just bad enough and getting loan because of altcoin can be suicidal

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Quote from: Natalim on June 11, 2020, 07:08:33 AM

The big mistake you are gonna make is when you borrow money and you already expected a profit, and you don't think of the risk that you might also lose.
In investing, you need to be realistic and that means you need to open your eyes on the risk not only the reward.

Borrowing money is not bad, a lot of investors or businessman borrow money and risk because they believe on their capacity to grow it, but if they fail, they has to make sure they can still pay because you can't make an excuse that you can't pay because you lose your investment.

risk/reward ratio is one of most important ratios in investment strategy, would add also risk compared to whole portfolio, one should never risk whole portfolio, just part in line with risk that investment yield, if the risk is high, than percentage of portfolio should be lower than if the risk from investment is lower

Natalim

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The big mistake you are gonna make is when you borrow money and you already expected a profit, and you don't think of the risk that you might also lose.
In investing, you need to be realistic and that means you need to open your eyes on the risk not only the reward.

Borrowing money is not bad, a lot of investors or businessman borrow money and risk because they believe on their capacity to grow it, but if they fail, they has to make sure they can still pay because you can't make an excuse that you can't pay because you lose your investment.

Greatchu

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Quote from: Jawhead999 on June 11, 2020, 06:05:36 AM

Quote from: nicecrypto on June 11, 2020, 04:40:01 AM

I don't see any mention of fomo in op post

How can you say that? OP has clearly said it

Quote from: Sourhearrt on June 11, 2020, 03:36:47 AM

in 2017 when all crypto coins are booming

Quote from: nicecrypto on June 11, 2020, 04:40:01 AM

You can lose money in crypto either way, fomo or not, ones that investment is fake you are bound to lose money even if you buy from bottom.

This is why you need to avoid altcoins since 99% altcoins is only fake/scam project. You need to take further research and detailed analysis to know what altcoin is real, good, and valuable. If you don't have times to do it, my advice is only invest on BTCitcoin.

Altcoins are mostly good at the earlier stage of their launch or life, if I have to invest in any altcoin it will be for a short term, many altcoins are 70-90% down from their ATH and till this day they haven't recover, I will rather get loan for Bitcoin and that's even if Bitcoin hit 3000$ again but not all altcoin, it's really suicide

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