Topic: [Q]To take a loan or not to - page 2. (Read 273 times)
Bitcoin which are the safest cryptocurrency is still considered as high risk investment and altcoins is worse than Bitcoin itself. Taking a loan for investing in high risk investment is really bad option, it's not like a business where you can calculate how much the net profit if you calculate about anything e.g. cost of production, cost of distribution, operating expenses, gross profit etc. Bitcoin is still a speculation asset and we can't know how long it will worth in the future.
In bloodbath times, I tend to think to take a loan and invest in few prominent currencies and leave it for few years. Then I realize what happened to Luna and realize there is nothing surefire here.
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
This is a good idea if you have a very good source of income that you can use to pay it without relying on the profit of your investment using the loan because you will in a lot of trouble if you are just gambling the money that you can't using other source of income.
I once do that and I end up burning the money by investing on altcoins during 2017 bear market. I was forced to liquidate the remaining asset since the interest is of the loan is increasing while I don't see any future to my investment. After few years, The market pump including all the altcoins that I purchased before into astronomical level, I regret that part and probably I will hold if there's no interest pressuring me for my investment.
Sure bitcoin is the safest crypto in this space to invest in, however, it could still shit on your pants. Taking a loan for an extremely volatile asset is a surefire recipe for a disaster.
Is buying bitcoin with your paycheck isn't enough? You don't want to imitate over-leveraged big boys, do you?
Is buying bitcoin with your paycheck isn't enough? You don't want to imitate over-leveraged big boys, do you?
In bloodbath times, I tend to think to take a loan and invest in few prominent currencies and leave it for few years. Then I realize what happened to Luna and realize there is nothing surefire here.
The only "prominent currency" is bitcoin, everything else is either useless or aren't even currencies and are guaranteed to dump as the example you used (Luna) proved it.Quote
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
Investing the money you can not afford to lose is never a good idea. When the risk is high, it is even a more worse idea. You should try to come up with extra cash to buy bitcoin with instead of borrowing it. For example you could look around your house and see if there is anything you don't need anymore which you could sell. Like an old laptop that you are never going to use. Then use the money to buy bitcoin. 
Taking loans for asset investments you mostly have no control of is kinda dumb.
1. Markets can drop far further than we think it can
2. It can take longer than expected to go back up
3. Especially when talking about crypto outside of bitcoin, you're taking so much risk that it's multiples of magnitudes dumber
If I were to take a loan, it would mostly be for something like a business that I've deeply thought of and strategically planned for already.
1. Markets can drop far further than we think it can
2. It can take longer than expected to go back up
3. Especially when talking about crypto outside of bitcoin, you're taking so much risk that it's multiples of magnitudes dumber
If I were to take a loan, it would mostly be for something like a business that I've deeply thought of and strategically planned for already.
In bloodbath times, I tend to think to take a loan and invest in few prominent currencies and leave it for few years. Then I realize what happened to Luna and realize there is nothing surefire here.
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
So, there is risk in taking loan but then reward is high, and there is sense of safety in not taking loan. You would be kind of free? Yes you didn't make much/took advantage of market downturn but you are free, you have nothing to worry for?
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