I will discuss both the pros and cons of investing in Bitcoin with a loan.
Pros: If we find that the loan interest is very low, but the chances of earning income by investing in Bitcoin are high then we can invest with a loan. On the other hand, if I don't have money at the moment, I invest with a loan, I can repay the loan by working every month, then I can invest in Bitcoin with the loan. Then at the end of the loan, you can see that bcz debt is a very bad thing in crypto!!
Topic: Should you take loan(s) to invest in crypto? - page 7. (Read 2093 times)
Don't ever do that. One of the worst decision you can make in one cryptoworld. What will you do if you lose that money. I think you need patience.
I agree that its a bad decision but I can see the attractiveness with the market as it has been for the last year.
Also interest rates are at an extremely attractive low rate (at least they are in the UK).
So lets say you borrowed around £7000 6 months ago and bought 1BTC.
That BTC is now worth around £26000 -
Sell now and pay off the loan and interest (around £250) and you've still made nearly £19000 profit.
For some people they will look at that and say getting a loan is worth the risk. The mistake of course is over-optimism that the price will keep going up in the next 6 months in the way it has for the last 6 months.
Also interest rates are at an extremely attractive low rate (at least they are in the UK).
So lets say you borrowed around £7000 6 months ago and bought 1BTC.
That BTC is now worth around £26000 -
Sell now and pay off the loan and interest (around £250) and you've still made nearly £19000 profit.
For some people they will look at that and say getting a loan is worth the risk. The mistake of course is over-optimism that the price will keep going up in the next 6 months in the way it has for the last 6 months.
Don't, I have a friend that help people to buy coins and send it to their wallets, few of these people are the ones that even choose the coins they want to hold but for that fact that he is the one that helped them to buy the coins they hold him responsible after the coin crashed hard, that is an example of even helping people out but loans? If anything bad happens you don't just lost your own money but others which you will have to pay for in another way possible
Well a calculated risk is what you need at the last minute. But if there are other means to get the funds you need for investing in cryptocurrencies than applying for a loan then you will be on a good spot. Because if you were not able to make it work and you lose your investment then you will be at the bad side of the bargain. Just do everything you can to ensure that you can get the money outside of loans. Maybe have an easy job, or something that you can do in your spare time that could bring the needed cash.
That can't be a good idea. It really sounds bad. If you do that, I think you are purring yourself into big trouble. Because the rate of cryptocurrency is not stable. The rate can be reduced at any time and you can be financially damaged. So, don't make a loan just to invest in crypto because crypto is very risky.
When i was a newbie, i took.was able to make little money from crypto market and then though for more investment.so took around $700 loan to invest on new currencies along with my fund too but unfortunately that was biggest mistake in my life. I was scammed by around $2.5k worth dollar which was huge money for me in that time. Well its hurting and don't like to talk much about it.but would like to suggest everyone, not to take loan if you are newbie or hurry to become rich! its dangerous, so don't ever think about it and careful before trust anyone
If you are still new in crypto, it is not a smart move to take a loan to gamble in crypto. I am comparing it to gambling because you have no idea what the future of coin will be. So it is really better to invest using funds that you can afford to lose especially if you will venture in alts. It is really not a good idea to spend your hard-earned savings in alts that you have no idea about.
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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?
Forcing funds is bad enough. It's better to adjust it to the capital you have, coming from non-debt income so that no dependents have to be returned with or without interest. Investments that start from a loan are unlikely to be successful. Moreover, crypto volatility is very large, profits cannot be predicted with accuracy, whereas you have to pay off loan bills every month.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?
There is indeed a chance of success, provided that there is a great chance of getting multiple times the profit you get to be able to repay the loan. It's like hoping for a miracle, so it's better to use your capital as much as possible, don't force a loan if you can't bear the risk.
never invest money that you can't afford to lose
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?
if I were you, of course I would not take the risk of taking a loan and investing in crypto, because investing in crypto has a big risk and there is no guarantee that if we can get the profit we want, we can get it - gain time but do not guarantee a second investment it will be profitable and of course it will be very difficult for us to repay the loan later, for me personally, I am better off investing with the capital I have right now even in small amounts.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?
the risk isnt something that you can handle it out and on the times that you will need to repay those loans then you can assure that you
had already profited out into your crypto investment.This is why its better not to take loan for that kind of aim.
Dont rush up to gain big because it is really impossible for you to have guaranteed success even on a price rally in the market.
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?
if I were you, of course I would not take the risk of taking a loan and investing in crypto, because investing in crypto has a big risk and there is no guarantee that if we can get the profit we want, we can get it - gain time but do not guarantee a second investment it will be profitable and of course it will be very difficult for us to repay the loan later, for me personally, I am better off investing with the capital I have right now even in small amounts. 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?
When i was a newbie, i took.was able to make little money from crypto market and then though for more investment.so took around $700 loan to invest on new currencies along with my fund too but unfortunately that was biggest mistake in my life. I was scammed by around $2.5k worth dollar which was huge money for me in that time. Well its hurting and don't like to talk much about it.but would like to suggest everyone, not to take loan if you are newbie or hurry to become rich! its dangerous, so don't ever think about it and careful before trust anyone
Of course there are some who may have done this but if I myself would never have taken such a big risk, I would be just happier living the life I am today. collect bitcoin and ethereum according to the ability that I have
It is such a big risk to borrow money if you'll invest it in crypto. Good decision is like what you've said. I won't commit that strategy too because I know how risky it is to take loans to invest it on. If I can afford to pay the loan through my other source of income, I think that would be fine. But if you're not responsible and you don't have other source of income yet you borrowed and invested with highly volatile asset. You have more chance of seeing it done than growing.
I believe that the drastic increase in the price of Bitcoin has made some people greedy and want big profits. One way is usually by borrowing
money from a bank with other assets as collateral, so they can get a large capital for investing in Bitcoin. And hope to get big profits, but what
many people forget Bitcoin is very volatile. This means that prices can not only increase drastically, but it can drop drastically and sometimes
recovery takes a long time.
As an example of what happened in 2017, Bitcoin price dumped immediately after reaching a price of $ 20,000 and need recovered after 3 years.
So imagine when someone uses borrowed money to invest in Bitcoin, then it is certain that his life will be destroyed. Can lose assets and have
a lot of debt, so I can conclude that it is not a good idea to use borrowed money to invest in crypto.
money from a bank with other assets as collateral, so they can get a large capital for investing in Bitcoin. And hope to get big profits, but what
many people forget Bitcoin is very volatile. This means that prices can not only increase drastically, but it can drop drastically and sometimes
recovery takes a long time.
As an example of what happened in 2017, Bitcoin price dumped immediately after reaching a price of $ 20,000 and need recovered after 3 years.
So imagine when someone uses borrowed money to invest in Bitcoin, then it is certain that his life will be destroyed. Can lose assets and have
a lot of debt, so I can conclude that it is not a good idea to use borrowed money to invest in crypto.
Investing in crypto means that you are ready to lose money and if you loan money from anyone but in the end you experience losses then how will you compensate? it's too risky mate, crypto is not as we imagine.
I remind to everyone, don't invest in crypto using loan money
I remind to everyone, don't invest in crypto using loan money
The answwer to this question is a big NO. you should never take a loan to invest in cryptocurrencies .
The crypto space is of a very risky nature and if you were to invest in it, your investment should be with funds that you wouldn't mind loosing. This cannot be said of a loaned money and if you end up incurring a big loss with your investment, you will be in a tight spot as regards how to payback the loan.
The crypto space is of a very risky nature and if you were to invest in it, your investment should be with funds that you wouldn't mind loosing. This cannot be said of a loaned money and if you end up incurring a big loss with your investment, you will be in a tight spot as regards how to payback the loan.
Keep in mind the following before going for a loan to invest on cryptocurrencies.
After all this analysis if you're able to withstand the situation, then go for loan and buy unlike the price of bitcoin.
- Your source apart from cryto to repay the loan
- Your family expenses and the emergency fund
- Risk associated with cryptocurrencies
- Alternate plan, if things didn't go as predicted
- Insure your loan, because no one know when
life gonna end.
After all this analysis if you're able to withstand the situation, then go for loan and buy unlike the price of bitcoin.
Taking a loan out to invest in pretty much anything that can theoretically vanish is a terrible idea. You put your financial future on the line. Work more, spend less and put that into crypto. If its lost completely at least you won't owe anyone back that money.
Well, it’s not like they are going to lose all their money, rather they are just magnifying the risk they are taking in the already very risky market by taking out loans to buy any cryptocurrency. Why I said they wouldn’t lose the whole money is because it’s not like the price is going to drop to zero, it wouldn’t ,but it can drop badly and they will lose too much of the money.It’s just like now the price is somewhere around $23,000 and they use loan to invest and it drops, it’s going to be double problem for them to be suffering their loss in the investment and also worrying about how they will get money to pay back what they have borrowed.
Personally, i think it is a very bad advise and decision. btc will still fall back and the loaner might find it difficult to payback. unless the person is a highly skillful trader and know how to migrate in the market. he or she will be able to return the loan. the cryptocurrency market is much volatile and the person should be aware of the current situation. if he had borrowed the loan earlier. he might be thinking of paying back recently. Aside greed, he will surely survive.
Loan in crypto space is for those who understands how crypto market works, we can't deny the power of Volatility, this is why loans is bad for crypto investments, if you are a newbie don't even think about it because you will lose the money
It is a big NO for those who are still not used to the volatility of the cryptocurrencies, why would you take loans if your knowledge is still not enough and for sure there are a lot of people who did that who lead them in huge debt. For those who have problem in their capital and if they are still new in the market, I discouraged them to borrow funds and invest in cryptocurrencies because the risk are too high where the probability of losing all of those money is greater than surviving in the market.
If you have still no capital then try to find sidelines first while you are developing your skills and acquiring more knowledge to become a profitable trader. I require others to at least have a market experience greater than 1 year in order for them to have confidence on their selves if they will borrow money from banks. Considering the interest is also a factor so take note of it.
If you have still no capital then try to find sidelines first while you are developing your skills and acquiring more knowledge to become a profitable trader. I require others to at least have a market experience greater than 1 year in order for them to have confidence on their selves if they will borrow money from banks. Considering the interest is also a factor so take note of it.
I agree with you, investing borrowed money into crypto currencies is a huge risk in my opinion. You are doubling your risks like that, because if you lose money you will still have to pay interest and pay pack the loan. Making money in the crypto world is not guaranteed. It is better to slowly build your bankroll up with your own money. Working on your knowledge and trading techniques is a good advise. We shouldn't rush anything.
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