Topic: Should you take loan(s) to invest in crypto? - page 6. (Read 2115 times)
I think loan is a bad idea I've seen two different type of people who died or let me say they commit suicide because they took loan and couldn't pay back in time, they have no choice than to take their own life, loan is bad for poor people but a good choice for rich people because they can afford to pay back even if things go bad
If you are a regular Twitter user and happen to follow a bunch of influencers or investors, there are high chances that you will have gone through some of the tweets claiming someone has borrowed a loan from bank to just invest into crypto. If not yet, check it here. Well, this is one really interesting topic so I though why not discuss here.
What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy?
What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy?
In any case, it is not good to spend money that you do not have. Whether you invest them in a crypto or something else.
It is always good to invest as much as you can afford to lose. With the high volatility of the crypto market and if you are new to this field, the chances of investing in the wrong coin are very high.
To me, it seems like madness because Predicting the crypto market is almost impossible. Now the question is will you invest in a loan because you do not have enough money And imagine what would happen to you if you lost this money in any way. On the one hand, the pain of losing money and on the other hand the debt and interest will continue to increase day by day. so don't be crazy.
If you are a regular Twitter user and happen to follow a bunch of influencers or investors, there are high chances that you will have gone through some of the tweets claiming someone has borrowed a loan from bank to just invest into crypto. If not yet, check it here. Well, this is one really interesting topic so I though why not discuss here.
What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy?
You know that if your crypto will not do well then you will lose. On the other hand, if your crypto does a better job and double, then you will have the amount you borrow and the same amount of profit. But as you know cryptos are volatile and you have to research and be lucky to make a profit. Do not forget that you have to risk the amount you can afford. What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy?
Making loans with the aim of getting a profit after investing in the crytoqurrency industry is very risky, as we know that the market situation is uncertain and crypto prices are very volatile I mean the price of a coin cannot be used as a benchmark because it can change at any time. My advice is not to do that, if you cannot bear the consequences and are not prepared to take the risk.
I won't suggest to take a loan when it comes to crypto investments. As crypto is a very volatile investment, it is a very risky one. What will happen if you can't get the profit that you want and instead lose the money? How can you pay your loan? It is always better to invest what you can afford to lose when it comes to crypto. Don't borrow from someone else and promise to return the money.
Making loans with the aim of getting a profit after investing in the crytoqurrency industry is very risky, as we know that the market situation is uncertain and crypto prices are very volatile I mean the price of a coin cannot be used as a benchmark because it can change at any time. My advice is not to do that, if you cannot bear the consequences and are not prepared to take the risk.
If you are a regular Twitter user and happen to follow a bunch of influencers or investors, there are high chances that you will have gone through some of the tweets claiming someone has borrowed a loan from bank to just invest into crypto. If not yet, check it here. Well, this is one really interesting topic so I though why not discuss here.
What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy?
What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy?
Have not done it, but if the loan is a long term loan with only 3% annual why not, it depends on the situation, if we are on a bull run and all the top coins in the market are being pumped why not, I can make a profit in 3 months, then take out the capital loan with the interest and just play with the profit I've got from the loan, it's too risky to take a loan to invest in a volatile market but if you can read the market chart and you can deal with the loan with collateral why not, this is a calculated risk but if you know how to profit you are good to go.
I do not like to invest in cryptocurrency with a loan. And in the current market condition, I think it would not be right to invent with a loan. Crypto market is now highly volatile. The market could go down at any time. It is better to invest your money as much as possible but not from a loan. At least there will be no tension to repay the loan.
It's more easier to lose money in crypto space, if loan is a must for you or the only choice you have left use it for businesses offline not crypto investment, you will end up losing the money one way or the other, most especially if you are still new to crypto and you don't know how to manage risks
yes, it's too risky. That's pretty good if you look at the certainty in that, but if you're looking to borrow a large amount, you'd better think again. in the crypto world everything is still 50:50. it's the same as doing business in the real world, only it's more prone to scam even more so if you don't know the project you support. better use your own money with any funds you can afford for it. If you are a regular Twitter user and happen to follow a bunch of influencers or investors, there are high chances that you will have gone through some of the tweets claiming someone has borrowed a loan from bank to just invest into crypto. If not yet, check it here. Well, this is one really interesting topic so I though why not discuss here.
I may come across but never pay attention so maybe i am not that familiar on that matter and even if i do ? nope will ot take time on that stupid idea.Quote
What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy?
NO , NOT, NEVER , those who have tried these stupid idea ae surely newbie in terms of crypto who wanted to explore more but in the end ? they lose everything they wanted to earn .If you have no funds ?then Invest Skills and knowledge and not something that we borrowed from anywhere.
nope, that's a bad idea, I think investing is made if you are in good financial shape, or you do have some savings to spare. but if you don't have it, and instead make a loan, you are committing suicide
I think people who borrow money as investment capital in crypto are greedy people. Because it is better if investing in crypto is enough with
the extra money we have, don't because our trading skills are good and then greedy want to get bigger profits using borrowed money. This is
an action that must be avoided, because it is very risky.
I say this based on my experience when trading in 2017, I used loan money from a bank. Finally in 2018 I had to sell my coins, even though when
I sold the coins the price of the coins was down. Because I needed money to pay debt installments. Because crypto prices are very volatile, it is very
risky if we use borrowed money as investment capital. Even though it's small, it's better to use extra money in accordance with our respective abilities.
the extra money we have, don't because our trading skills are good and then greedy want to get bigger profits using borrowed money. This is
an action that must be avoided, because it is very risky.
I say this based on my experience when trading in 2017, I used loan money from a bank. Finally in 2018 I had to sell my coins, even though when
I sold the coins the price of the coins was down. Because I needed money to pay debt installments. Because crypto prices are very volatile, it is very
risky if we use borrowed money as investment capital. Even though it's small, it's better to use extra money in accordance with our respective abilities.
It's more easier to lose money in crypto space, if loan is a must for you or the only choice you have left use it for businesses offline not crypto investment, you will end up losing the money one way or the other, most especially if you are still new to crypto and you don't know how to manage risks
Loans aren't for the poor, it's a perfect helping hand for those who are half rich, for those who have enough collaterals to pay loans back if things go wrong, loan is never for the poor because it will take a heavy hit on them or probably taking their live away forever, you gotta be careful around loans
i think there is an exception when bitcoin is at a low price like when the price was at 6k before this last bullrun or an investment in a major altcoin like eth.
Maybe, but none knows when bull run will be happened or can be a good speculator to overcame any unwanted bearish movement/rally. If anyone can be able to have other sources of income to pay monthly interest, it might be a good choice for longrun when bearish movement is going to end and bullish trend is fueling up. TBH, it won't work for all alts as many of us are assuming that alt season will be happened asap. But, lets see what happen next. Borrowing loan to bank is not good because you need to pay interest and it is not good because you do not know when you will get a profit or maybe the money you use is lost so it's good to use money from your own or to extra money because you don't have responsibility once it lost. I suggest do not invest to the crypto if it's a borrow loan because it is risky for you.
Investing alone is too risky, but if you like to play the game, you can always do. Borrowing in the bank if they can give you at a maximum of 1% interest per month, I think you'll be able to become profitable if year is bullish for bitcoin.
We can use last year as an example, the price of bitcoin last Jan. 2020 was around $8k, and it's price on December 31 hit at $28k.. that means you make over 200% in profit by just holding while you only have to pay 12% interest of your money in one year.
I certainly wouldn't do that take out a loan only to invest in crypto too big a risk In my opinion because investing in crypto, movement is difficult to guess up and down so fast what more if investing in coins has decreased to be able to go back up takes a very long time
I would avoid to make a loan on a non secure investment as crypto because you may be able to find yourselve in debts but i think there is an exception when bitcoin is at a low price like when the price was at 6k before this last bullrun or an investment in a major altcoin like eth.
some investment project gives with reference as they draws of low to higher returns in proposals.that work with tasks of evaluation helps on investors to decide what to put on plan as the appeals with risks and resource on possession.
I don't think it is a good idea to make a loan to invest in cryptocurrency because there is no guarantee you can payback in your loan in time due to risk. Even if you see that some people have earned a considerable profit in buying cryptocurrency, don't expect you will have the same experience in your first purchase.
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