Topic: Should I get a loan? - page 3. (Read 2302 times)
No need to take a loan for Volatile crypto. No will will recommend you for asking loan. Sometime a bearish news red all market. Its better to invest only Extra money on 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.
That's the important piece of it, trusting this venue and have that nerve to work along the way. Tracing back from the last 10 years this market gained lots of interest and if that will continue to gained for more, then the chance that your loan money will grow.
Unless you'll failed to follow the right path and make a wrong decisions while you are engaged with your investment.
We don't know what future will bring but all depends from how you trust your knowledge and guts while choosing your investment.
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.
- You've probably also been here long enough to see the bulls and the bears, the winners can be proud, but in such races, lying on the ground is the blood of so many investors, that means the race you see may be the last moment you see the money in your wallet, the next morning may have been a very clean wash, our money will fly. A loan then every month and every year requires a little payment, I don't feel comfortable in that way, a minute of temper will cause us to receive a pressure that lasts 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.
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?
It is a terrible pitfall. I have heard plenty of cases when people took loans, but they made a mistake in their predictions of the market and they lost not only their money, but borrowed money as well. So it is always said that you should invest only money that you can afford to lose and can live without. As we can't predict all situations and news that can turn the market.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?
This all depends as to how close you are to your family, if it's a good relation, you might not have to worry too much about it. If you believe in the potential of crypto there's no need to worry about returning the loan because it will go back in amounts that you aren't even expecting.
What you say is true, finally we do have to look at our relationship with our family, if there is a very good relationship and our family trusts us. There should be no problem if we borrow money from our family, if it turns out that the price of the coins we buy is not what we expected,
we can ask for our family's understanding to give us time to pay it off. Moreover, if it is an investment in potential coins, it should indeed be able
to provide a large profit.
do make out for a long time without speaking or in good terms because of money which i cant really assure that it wont happen..
This is why its better to avoid on borrowing from family or any other people but this isnt actually an issue if you do just know on how to repay those loans
but if you arent that mindful nor responsible enough then better not consider on making this action because you would really just create some problems.
Therefore, we need careful planning if we really intend to borrow money from the family. This means that we must be able to think about the worst
risks that will occur, because it is true that money can be a cause of contention. I think we can explain first the reason we borrow money, so that
they understand the risks that will occur in the future. After that provide a backup plan if our investment doesn't go well in the end, we really have
to be responsible if we decide to borrow money.
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.
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.
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?
Hey mate you already taken loan from your family without interest , which means you already a crypto holder with huge amounts of budgets. You should need any loan from outside. But if you want to invest more in cryptocurrencies, then you should contract a nearest bank with interest. 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?
The thing is when you get a loan it will come with a time frame in which you need to pay it back plus interest, whilst here bitcoin has no time frame whatsoever its taking its time to rebound to $60k its all time high. So if you are going to get a loan it has to be a non interest loan which you can use to buy more crypto coins but i think your portfolio looks good already.
as long as the purpose is for good of course it doesn't matter, you can return more than what you borrowed because of course you have confidence what you borrow will
make a profit from what you are about to do. but if there is no profit that you will get, it is better not to borrow even though there is no interest from the loan and without a certain time, because borrowing from family will certainly be a different thing of course.
make a profit from what you are about to do. but if there is no profit that you will get, it is better not to borrow even though there is no interest from the loan and without a certain time, because borrowing from family will certainly be a different thing of course.
My opinion is that if the loan is from someone you know really well and it is also without interest then you should take it.
~snip
It sounds tempting indeed to get a loan for investment in crypto without interest, this looks like an opportunity not to be missed. I agree with you,
by deciding to borrow money from family, we have to be more careful. If we fail to repay the loan, there will be a commotion in the family, because
money related issues are very sensitive. Actually I prefer borrowing money because of urgency, if only for investing in cryptocurrencies we should
use our own money. It is true that the loan is free of interest, but still borrowing money means that there is an obligation to return it. And there is
no 100% guarantee that crypto prices will go up, what the OP is doing is very risky, let alone borrowing from family. The impact is very big if it turns
out that crypto prices don't go up as we want, we have to think about the worst risk that will happen.
What you say is true, finally we do have to look at our relationship with our family, if there is a very good relationship and our family trusts us.
There should be no problem if we borrow money from our family, if it turns out that the price of the coins we buy is not what we expected,
we can ask for our family's understanding to give us time to pay it off. Moreover, if it is an investment in potential coins, it should indeed be able
to provide a large profit.
do make out for a long time without speaking or in good terms because of money which i cant really assure that it wont happen..
This is why its better to avoid on borrowing from family or any other people but this isnt actually an issue if you do just know on how to repay those loans
but if you arent that mindful nor responsible enough then better not consider on making this action because you would really just create some problems.
~snip
It sounds tempting indeed to get a loan for investment in crypto without interest, this looks like an opportunity not to be missed. I agree with you,
by deciding to borrow money from family, we have to be more careful. If we fail to repay the loan, there will be a commotion in the family, because
money related issues are very sensitive. Actually I prefer borrowing money because of urgency, if only for investing in cryptocurrencies we should
use our own money. It is true that the loan is free of interest, but still borrowing money means that there is an obligation to return it. And there is
no 100% guarantee that crypto prices will go up, what the OP is doing is very risky, let alone borrowing from family. The impact is very big if it turns
out that crypto prices don't go up as we want, we have to think about the worst risk that will happen.
What you say is true, finally we do have to look at our relationship with our family, if there is a very good relationship and our family trusts us.
There should be no problem if we borrow money from our family, if it turns out that the price of the coins we buy is not what we expected,
we can ask for our family's understanding to give us time to pay it off. Moreover, if it is an investment in potential coins, it should indeed be able
to provide a large profit.
~snip
It sounds tempting indeed to get a loan for investment in crypto without interest, this looks like an opportunity not to be missed. I agree with you,
by deciding to borrow money from family, we have to be more careful. If we fail to repay the loan, there will be a commotion in the family, because
money related issues are very sensitive. Actually I prefer borrowing money because of urgency, if only for investing in cryptocurrencies we should
use our own money. It is true that the loan is free of interest, but still borrowing money means that there is an obligation to return it. And there is
no 100% guarantee that crypto prices will go up, what the OP is doing is very risky, let alone borrowing from family. The impact is very big if it turns
out that crypto prices don't go up as we want, we have to think about the worst risk that will happen.
Since there's no interest, then you can probably go for it but you have to be careful because if it's from the family, you aren't only in debt with money but with also favors. I would suggest to not get but since there's no interest it's better to get it than let it pass you by.
It sounds tempting indeed to get a loan for investment in crypto without interest, this looks like an opportunity not to be missed. I agree with you,
by deciding to borrow money from family, we have to be more careful. If we fail to repay the loan, there will be a commotion in the family, because
money related issues are very sensitive. Actually I prefer borrowing money because of urgency, if only for investing in cryptocurrencies we should
use our own money. It is true that the loan is free of interest, but still borrowing money means that there is an obligation to return it. And there is
no 100% guarantee that crypto prices will go up, what the OP is doing is very risky, let alone borrowing from family. The impact is very big if it turns
out that crypto prices don't go up as we want, we have to think about the worst risk that will happen.
Since there's no interest, then you can probably go for it but you have to be careful because if it's from the family, you aren't only in debt with money but with also favors. I would suggest to not get but since there's no interest it's better to get it than let it pass you by.
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?
Hey mate you already taken loan from your family without interest , which means you already a crypto holder with huge amounts of budgets. You should need any loan from outside. But if you want to invest more in cryptocurrencies, then you should contract a nearest bank with interest. 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?
It is exactly what's happening for those traders that saw the potential but they're not yet as good as the other traders. They're brought up with emotions because of the projected profit that they can make every trade that they does. And that's the reason why they've coming up with the idea of taking a loan from whoever is available in their network or even with the banks. The main concern is that they're not calculating the risk and the other circumstances that they might surprisingly face as they trade.
Everyone is responsible for their action, what we are doing is risky already and if we try to borrow money just to start trading, then that would be another risk that we should handle. I think there are people who do it successfully but I'm pretty sure they are good at trading and they think wisely before borrowing that money to trade. In general, it's not bad to borrow money to trade because there are people who borrow money also for the capital of their business.
You should be the one financing yourself and not coming from loans because you're possibly going to have more problems if that's the solution that you're thinking.
Not advisable but it could be a good decision or bad depending on the result, if you are a trader and you believe in your capacity, you will try to take the risk and borrow money. If the CEO of Binance sold his house for bitcoin, I think we can use that as proof that we could succeed even if we make a very risky decision.
It is exactly what's happening for those traders that saw the potential but they're not yet as good as the other traders. They're brought up with emotions because of the projected profit that they can make every trade that they does. And that's the reason why they've coming up with the idea of taking a loan from whoever is available in their network or even with the banks. The main concern is that they're not calculating the risk and the other circumstances that they might surprisingly face as they trade.
Everyone is responsible for their action, what we are doing is risky already and if we try to borrow money just to start trading, then that would be another risk that we should handle. I think there are people who do it successfully but I'm pretty sure they are good at trading and they think wisely before borrowing that money to trade. In general, it's not bad to borrow money to trade because there are people who borrow money also for the capital of their business.
You should be the one financing yourself and not coming from loans because you're possibly going to have more problems if that's the solution that you're thinking.
Not advisable but it could be a good decision or bad depending on the result, if you are a trader and you believe in your capacity, you will try to take the risk and borrow money. If the CEO of Binance sold his house for bitcoin, I think we can use that as proof that we could succeed even if we make a very risky decision.
Bitcoin is excessively unpredictable there is no ideal forecast on the Crypto market however assuming you have confidence in Bitcoin and willing to lose, go purchase without hanging tight at a less expensive cost. I additionally encourage you to put resources into Bitcoin more than different monetary forms due to those monetary forms neglect to arrive at the past tops.
If you can get an interest-free loan that lasts for five years, I would recommend buying bitcoin in batches, one each season.
Taking a loan is a big risk depending on what you do with that loan and how much income you have. So let's say you have 10k dollars as your monthly salary, and you can save 3k of that aside, so you can buy 3k dollars worth of bitcoin every single month right?Would you rather keep doing that, or would you rather get 100k loan that you will pay back as 120k or 130k in some years? That way you could literally go into bitcoin as a whole, so assume that your 100k became 200k thanks to price doubling which is not impossible we were at 60k levels or so just recently, in a year or two we will probably be 2x anyway, so your 100k will become 200k. That is a good way to get a loan, making a debt is not a problem if you can afford it, look at amazon they never made a profit, they were always in debt, but now they are making insane returns thanks to those debts back in the day. Know how to get a loan, there are right ways to get a loan and there are wrong ways.
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