Topic: Should I get a loan? (Read 2302 times)
If you want to buy Bitcoin on credit, you can. Bitcoin will increase in price a lot at once which will give you a lot of pain. However, various experts say that Bitcoin will increase a lot in 2021. However, we can see that Bitcoin has increased a lot now. I think the price of Bitcoin could be in the range of one million dollars in 2021. So if you have money in your family then you Can invest in bitcoin. From there you are expected to get a lot of profit at once.
a very interesting fact about lending money to a my family Is that when the my family member ask for loan, the I can not deny, but time the family member returns the money that they asked, he not wants to pay, I usually put it like this:
when my family member asks me to loan money, I put it as money that I won't miss in case he doesn't give it back to me.
I hope the OP managed to make the best choice
when my family member asks me to loan money, I put it as money that I won't miss in case he doesn't give it back to me.
I hope the OP managed to make the best choice
It is difficult when it comes to money and to lending to the family, because in general they can take advantage of the fact that they are family to have better payment options, the bad thing is that this use can cause problems between the lenders and the borrower.
I think that sometimes the same family is the one that can most harm you in terms of money, in my case it is difficult, because if it is to lend I take it as lost money, because otherwise it would cause problems within the family environment and for money it is not worth worth fighting. It is difficult but it is better to give the money as a collaboration and not the full amount.
This is why, we should not take a loan as much as possible, whether from family member or friend.
In case you haven't respected the agreement with them, it may cause misunderstanding or trouble.
And it may dent your relationship with them, which is actually not good as they are your closed relationships.
Just use what you can afford and not borrow from others, this is to preserve your good relationship with persons you are closed to.
a very interesting fact about lending money to a my family Is that when the my family member ask for loan, the I can not deny, but time the family member returns the money that they asked, he not wants to pay, I usually put it like this:
when my family member asks me to loan money, I put it as money that I won't miss in case he doesn't give it back to me.
I hope the OP managed to make the best choice
when my family member asks me to loan money, I put it as money that I won't miss in case he doesn't give it back to me.
I hope the OP managed to make the best choice
It is difficult when it comes to money and to lending to the family, because in general they can take advantage of the fact that they are family to have better payment options, the bad thing is that this use can cause problems between the lenders and the borrower.
I think that sometimes the same family is the one that can most harm you in terms of money, in my case it is difficult, because if it is to lend I take it as lost money, because otherwise it would cause problems within the family environment and for money it is not worth worth fighting. It is difficult but it is better to give the money as a collaboration and not the full amount.
a very interesting fact about lending money to a my family Is that when the my family member ask for loan, the I can not deny, but time the family member returns the money that they asked, he not wants to pay, I usually put it like this:
when my family member asks me to loan money, I put it as money that I won't miss in case he doesn't give it back to me.
I hope the OP managed to make the best choice
No matter who gives the loan, the OP is going to risk it. In case of thing goes down, he can lose that amount in a week. I prefer to trade within limits, otherwise, the loan amount will be doubled in the near future. Trading is the form of business and all businesses have bad weeks but the business owner doesn't force it to recover the loss. Imagine single trade and keep chasing the loss, after losing all trader will be upset and gonna trade under pressure to recover the previous loan amount. Just my 2 cents. when my family member asks me to loan money, I put it as money that I won't miss in case he doesn't give it back to me.
I hope the OP managed to make the best choice
a very interesting fact about lending money to a my family Is that when the my family member ask for loan, the I can not deny, but time the family member returns the money that they asked, he not wants to pay, I usually put it like this:
when my family member asks me to loan money, I put it as money that I won't miss in case he doesn't give it back to me.
I hope the OP managed to make the best choice
when my family member asks me to loan money, I put it as money that I won't miss in case he doesn't give it back to me.
I hope the OP managed to make the best choice
Currently I have $109,750 in Bitcoin and $60k in alts.
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
However, I could use some opinions first. What do you guys think I should do?
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
However, I could use some opinions first. What do you guys think I should do?
I think you don't need to get a loan to the borrowers, your total assets actually in my country currency was already an
equivalent of millions amount of money. Therefore, you can actually roll it out in the exchange depending in your decision of
how much do you like to trade were surely, once you trade in the cryptocurrency it earn and have an interest of profit. Or instead
of getting loan to others why not your the lender and put it an interest to those who will get a loan.
Currently I have $109,750 in Bitcoin and $60k in alts.
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
However, I could use some opinions first. What do you guys think I should do?
Borrowing money and then investing in crypto is very risky and highly not recommendedI'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
However, I could use some opinions first. What do you guys think I should do?
but if you have the right analysis and make a profit from the money you borrow, then it's a good decision
I suggest you to only buy crypto assets like bitcoin, ethereum, bnb or cardano (which have a good reputation and strong team)
and as much as possible avoid buying meme coins, defi tokens and nft that promise unreasonable ROI
Why loan? You must be happy with your six digit investment in crypto. Just hold it and let Bitcoin go up itself. Once Bitcoin reaches it's all time high jump to ETH to make another profit. Then once ETH reached its all time high sell it to USDT, then HODL and rebuy on bounce.
Currently I have $109,750 in Bitcoin and $60k in alts.
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
However, I could use some opinions first. What do you guys think I should do?
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
However, I could use some opinions first. What do you guys think I should do?
Like another member, I also want to say that If the loan is interest-free then it's a good chance for you. But don't invest that money at some shitcoins. Stick to your plan, Don't put your money at some shit project. Also, don't put all of your money at once, Wait for the deep price. I would recommend you to use Dollar Cost Averaging Bitcoin - (dcaBTC). With the help of this strategy, you can buy consists in investing a fixed amount of USD, into BTC. Here you can get more information about this strategy: https://dcabtc.com/
You have already huge of money ($).You have to Enough money to investing or holding. I think you don’t need to get loan.And also remember that loan for very bad things for Trading.Loan is risy for investing. I Think you have to continue your journey with whatever you have.
No I don't think so it gonna be work. And also this is your own decision I will only suggest you. Always keep in mind that put your only amount that you can afford to lose.
no one will give us guaranee our investment will getting profits, and if this not happen to us i am believe we will be panic to sell our assts and possible to become bankrupt and be poor man. there are alot this case ,invest using loan from P2P lending or bank but suddenly market move againts our direction.
That's how most of the newbies are ending with their quick assumption and unplanned actions.They're selling at losses and do that due to panicking. And they even have the strength and will to take a loan because they're only looking to the idea of having a capital and return.
But they do not look how it should take for one to profit from trading it.
You need to be careful before you take out a loan because you have to consider whether you can be successful in whatever you take out a loan for.Suppose you did not take a loan to invest but at the end of the day it turned out that you could not be successful in the case for which you took the loan.So how do you repay the loan, you have to go bankrupt.
no one will give us guaranee our investment will getting profits, and if this not happen to us i am believe we will be panic to sell our assts and possible to become bankrupt and be poor man. there are alot this case ,invest using loan from P2P lending or bank but suddenly market move againts our direction. I think taking loan for trading will never be a good idea because it is trading and you don't know about it that what will happen next and you don't know about the coins that at which price they will rise and they will going down, So taking loan is risky. I think you don't have to take it, even start from small but your own.
start with small amount and trained our trading skill could be our capital surviving in this market. loan only make our psychology uncomfortable especially when market crash. we wll regularly thinking negative side if something bad happen to our asets. 
The crypto market is a risk, and trading Bitcoin is of more risk because eit is very volatile in its kind of nature. It is one thing that we know is wrong, which is taking loan for investing into Bitcoin or crypto currency, but as it is from family without interest, then it makes it good enough, bit the tendency of paying back is unavoidable, because the money might be asked for at a later time. Waiting for a lower deep would have been a very good idea, like when the price of Bitcoin got to the lows of $33k, $34k, and from that period to now at which the price has made a little positive move would have given some very good profit so far.
I will say, you watch closely the market to see the lowest it can go and buy before the next bull run takes place.
I will say, you watch closely the market to see the lowest it can go and buy before the next bull run takes place.
I think taking loan for trading will never be a good idea because it is trading and you don't know about it that what will happen next and you don't know about the coins that at which price they will rise and they will going down, So taking loan is risky. I think you don't have to take it, even start from small but your own.
You're right, but I think that to take a loan Loque has to take into account is the ability to pay and fulfill the payments despite that things do not come out well, in case Qeu loses what he lent, has some way of being able to continue solving Despite what? That is where the responsibility of the person lending the money, whatever the destination of the money to be provided must be responsible.
In case things go wrong and do not have a payment capacity, that's where you should not lend money, I think that if it depends on the trading to pay money, the risk increases to more than 100%.
Currently I have $109,750 in Bitcoin and $60k in alts.
Lol at the high-net-worth investor who's come to make exactly one post on bitcointalk asking random internet people if he should take out a loan to buy altcoins. I'm not buying any of it. It would have been much more believable if OP had returned to tell the community what he ended up doing or provided more details....or whatever.If the loan is from your family without interest that's a good decision but without waiting for the dip price you will lose a big amount of investment.
No offense, but I think that's one of the worst ideas one could think of--unless your family is both extremely generous and very wealthy and could afford to give a loan for something as risky as altcoins. Borrowing money to invest in any cryptocurrency is a horrible idea IMO, especially if the interest rate is high. I remember back in 2017 there were people posting about how they were maxing out their credit cards and whatnot, buying bitcoin when it was near the top. Buying crypto on margin is just as bad. I'm sure there are successful traders who've made bank doing so, but for the average person I'd strongly discourage it.
If you take money from your relatives, without interest, then why not?
In 5 years, perhaps we will see 2 more bull races, which means you will win back your money anyway. It seems to me that in such situations the risks are very low, it is important that you fix the profit on time.
Well, borrowing for business is okay, especially if it doesn't use interest. however, you need to make sure that your place of investment is really guaranteed. Well, in the cryptocurrency world, it's quite risky, unless you believe in it, and can handle the risks. well, but all business is risky. DWYOR is at the heart of it all, and I suggest borrowing it when you are sure of it.In 5 years, perhaps we will see 2 more bull races, which means you will win back your money anyway. It seems to me that in such situations the risks are very low, it is important that you fix the profit on time.
A very controversial statement. You talk about situations when a person went all-in, sold all his property, took out a loan, bought a cryptocurrency with this money, and looks in a panic as it falls in price.
However, if a person has the means on which he can live, it means that he can easily wait out a bad period, which is usually inevitable, and come out in plus with long-term assets.
These days I am thinking the same exact thing, asking the same question to myself. It is not about crypto, a close family member (let's say as good as me) will sell a big place, which will worth a lot of money, and instead of investing into crypto (will invest like 5% to crypto only) I was thinking maybe I should split the money into 4, and go into debt with the rest?
Like let's say it is 400k (it is not) instead of investing that into one, I shall buy 4 houses worth of 200k, that way I will be capable of paying half of their price up front and then I will be able to pay the rest in a long period of time, and after it is done I will have 4 houses all worth 800k instead of having 400k, and since rent goes up every year, it will become easier and easier and easier in the future as well to pay that debt back, meanwhile house prices will go up a bit as well. So basically my 400k today will be "free" 1 million dollars in 5 years just because I was capable of risking it. Debt is not always bad, bad debt is bad, but not all debts are bad.
Like let's say it is 400k (it is not) instead of investing that into one, I shall buy 4 houses worth of 200k, that way I will be capable of paying half of their price up front and then I will be able to pay the rest in a long period of time, and after it is done I will have 4 houses all worth 800k instead of having 400k, and since rent goes up every year, it will become easier and easier and easier in the future as well to pay that debt back, meanwhile house prices will go up a bit as well. So basically my 400k today will be "free" 1 million dollars in 5 years just because I was capable of risking it. Debt is not always bad, bad debt is bad, but not all debts are bad.
I think taking loan for trading will never be a good idea because it is trading and you don't know about it that what will happen next and you don't know about the coins that at which price they will rise and they will going down, So taking loan is risky. I think you don't have to take it, even start from small but your own.
If you fully believe that getting loan will give you good profit and you can return back thats loan easily then you can. But please take care before taking any Token and stop loss is mandatory otherwise you can lose big. Stay away from investing in Bear market.
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