Taking a loan to buy Bitcoin? - page 10.

senyorito123

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Quote from: Hobo66 on February 10, 2021, 08:53:16 PM

I think Taking loan for trading is not a good choice. Invest in bitcoin which you can easily afford.
I hundred percent believe that bitcoin price will. Go up and you will get a pretty good profit from it but taking loan seems not good..
Every one has own view and own thoughts so do at your own risk

Right mate, we don't know that loan terms could be paid off within the time you're holding an asset of btc. Who knows one you've bought huge amount of holdings, suddenly crash will come along. You aren't sure how to handle stress and debts in the reality of loans, pressures will make you exhausted in the midst of payment. Much better if you're going to save some portions of your salary if working, then hold small amount of bitcoin for long terms and keep accumulating.

Hobo66

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I think Taking loan for trading is not a good choice. Invest in bitcoin which you can easily afford.
I hundred percent believe that bitcoin price will. Go up and you will get a pretty good profit from it but taking loan seems not good..
Every one has own view and own thoughts so do at your own risk

Shasha80

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I don't agree to buy Bitcoin from borrowed money, because as we all know the price of Bitcoin can fall at any time. Don't just watch the Bitcoin price
go up dramatically, make us lose our minds and take risky actions. Why not buy Bitcoin from part of the salary you make, especially if you can afford
a salary of $ 7000. Don't be too greedy in pursuit of profit, we must be able to control our emotions when investing in Bitcoin.

CryptoMargo

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I perfectly understand your regrets. But it’s risky indeed. I still not sure whether it is a good idea to take loan and to buy BTC now. It's All-Time-High. Maybe it's better to wait till correction or if you have some other crypto you can exchange it on BTC and try to play shorts to get some profit. Sure if you’ll buy BTC even now once you will get grains but that may last for years. All this coronaviruses or any accidents can influence on possibility to return loan.

teosanru

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Quote from: elmuchodingdong on February 09, 2021, 08:14:00 AM

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

At first, I thought you are talking about a loan of 20 Euros then I realized the decimal there means a comma and then I am like is this person in his mind? You are saying that you want to take a loan of 20K Euros from wherever I don't care and want to put it into a weekly overbought market? I'll have to be out of my mind if I were to do this. I think no one should do this unless 20k isn't a big deal for you. Cryptocurrencies are too volatile you might see a bear market creeping in within a couple of days which might last for more than 3 years who knows? Tesla has not taken up any loan to invest in crypto it was the excess cash that wasn't anyways parked anywhere therefore crypto is a great investment for this excess cash in a span of 10 years. Unless you are a magician who can predict which coin would go up tomorrow I suggest you stay away from such thoughts. I have seen a lot of such people committing suicides at the end.

Evgenklm

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I always thought that a loan or a loan for the purchase of cryptocurrency is stupid, I do not change my opinion, a close friend took a loan for a trading account of $ 10 thousand and of course it did not work out with trading, a friend left a few hundred dollars, and you need to pay on the loan every month, so I do not advise anyone to do this. Undecided

Cherylstar86

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Quote from: elmuchodingdong on February 09, 2021, 08:14:00 AM

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

For now I don't this is a brighter idea, Bitcoin was at the top value if we're going to analyze and taking that loans might be a failure. The risk behind was really big to what we think out of potential profit expected, so much better to wait for further instead of rushing out to earn something better. Though our aim is for gain, but it should be done by process and not by instant results.

k@suy

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Quote from: jasonjm on February 10, 2021, 01:04:09 PM

I think this risk is worth taking. You know that the BTC market will pump to a new ATH in coming months and there will be no going back from that moment. Timing is everything in crypto market and with the institutions involved the chances of BCT hitting $60k this year are pretty high.

I agree, why not take risk if it will bring you fortune? maybe he is not a trader but an investor he clearly thinks that bitcoin might go higher as time passes by so I think taking loan and making some risky plays will gonna be worth it maybe next year or next next year, but he needs to pay the interest of course before it will make him rekt, that's the problem with loan the interest on it, as long as he believes that bitcoin will make him rich then don't stop him.

jasonjm

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Quote from: In the silence on February 09, 2021, 01:20:58 PM

Quote from: elmuchodingdong on February 09, 2021, 08:14:00 AM

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

maybe this is logical and I read awhile ago that a person loaned from a bank and put it in bitcoin, now hes a millionaire and made his loan paid in full. But still you need to manage the risk you are putting yourself into.

I hope if you ever continue this, you might consider other coins as it has more space to grow and multiply your investments. Goodluck and take care bud.

I think this risk is worth taking. You know that the BTC market will pump to a new ATH in coming months and there will be no going back from that moment. Timing is everything in crypto market and with the institutions involved the chances of BCT hitting $60k this year are pretty high.

isaac_clarke22

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Quote from: Ucy on February 10, 2021, 06:06:14 AM

Quote from: iv4n on February 09, 2021, 01:09:46 PM

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Ofcourse.
I really don't like taking loans for investments(even if I'm sure of profit), not to talk of taking loans for things that won't be profitable. Will invest in something I'm sure will be profitable to enable me pay back and multiple the profit, but I wouldn't discourage people from getting loans if they have done their homework like you probably stated and are sure of earning profits from their investments. I believe this is part of what lenders should know about borrowers for the sake of the borrower and the lender.

Who the heck thinks like that?
Isn't financial freedom being overlooked by some people? Thinking that you don't have obligations to pay anything because you owe nothing to nobody. Sure you're gonna earn your profit soon but someone will surely screw your day to steal all those profits along with the interest rate from the loan you requested.
If you can't invest right now, don't force yourself to.

Cling18

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Quote from: Sinjokubhi on February 10, 2021, 04:28:54 AM

Quote from: Oshosondy on February 09, 2021, 08:43:50 AM

I do not have to read all about your post before I will tell you taking a loan is not necessary. But if you think you can gain from it, you can try but you can expect gain and lose, this will make it difficult for you. I will advice you not to take a loan. The bitcoin market and crypto market generally are volatility, loan is not recommended for it.

I think so, taking a loan to buy Bitcoin would be risky. because we cannot expect profit from the increase in Bitcoin which is not clear will experience this continuous increase. It's better if we walk with what we have now, don't be too pushy to borrow money. because if we experience a loss it will not have a big impact on us.

We're always advised to invest what we could afford to lose so using a borrowed money would really be a big risk for us because there's no assurance of profit in crypto investing. Yes, the price of Bitcoin is promising right now but it's still better to use your own money so you'll never have regrets if ever you'll lose in the future. The market is still on the bullish trend so I don't think it's worth buying right now. There will surely be a correction in the coming days.

geegaw

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Quote from: youdacapt on February 10, 2021, 08:32:43 AM

It doesnt matter which type of investment; the truth is that you should not take a loan for a start up investment; Trading or investing bitcoin should and must be done with a calm mind and peace of mind to; how can you trade bitcoin when you worry about a loan ? Never do that. Do your own research and trade bitcoin or invest bitcoin with funds you can afford

I am wondering why so many people are feeling anxious about a startup loan, don't talk too much about the risks that we can take, almost all investments or start-ups, starting to get rich always takes certain risks, fear only makes us more close to failure. Personally, I am thinking more openly on this matter, a loan to buy bitcoin is still possible but it needs to include a detailed calculation and exit plan, understand what we are investing in and stop, and as long as we have stable income, the loans can still be paid off

Oasisman

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Quote from: youdacapt on February 10, 2021, 08:32:43 AM

It doesnt matter which type of investment; the truth is that you should not take a loan for a start up investment; Trading or investing bitcoin should and must be done with a calm mind and peace of mind to; how can you trade bitcoin when you worry about a loan ? Never do that. Do your own research and trade bitcoin or invest bitcoin with funds you can afford

I don't think the OP would be trading. I guess he'll take a loan to buy Bitcoin and hold it, which does really make sense because Bitcoin will surely be skyrocketing caused by a lot of positive news that billionaires and institutions are heavily investing into Bitcoin. Taking a loan for investment isn't really a good idea most of the time, but as per the OP he would take a loan to buy at the current price where he considered as an "affordable" range while he has no money at this moment. I guess he can pay it on the latter when normal day job resumes. Nobody wants to be left out and find yourself buying at the peak just because you were saving money to buy Bitcoin. I guess taking a loan sometimes to buy Bitcoin while the price is still considered affordable is good, as long as you can manage to fix your finances with the additional loan.

dihari

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The volatility will kill from the inside as a loaner.
This is not the first time bitcoin sky rocketing, it's happen almost in every halving. And you know what exactly happen after the bullish trend, yes, if it's not stable it's going down.
I just want to warn you to never invest money you can't afford to lose. Always use some cold money to invest on something risky like cryptocurrency.

youdacapt

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It doesnt matter which type of investment; the truth is that you should not take a loan for a start up investment; Trading or investing bitcoin should and must be done with a calm mind and peace of mind to; how can you trade bitcoin when you worry about a loan ? Never do that. Do your own research and trade bitcoin or invest bitcoin with funds you can afford

boyptc

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Quote from: Mahanton on February 09, 2021, 03:53:49 PM

Quote from: boyptc on February 09, 2021, 01:15:17 PM

Quote from: elmuchodingdong on February 09, 2021, 08:14:00 AM

Do you think taking out a loan makes any sense?

Do you think it is worth it? This might be a once in a lifetime chance.

No.

Just learn from the experiences of people on 2017 when there's a bull run and they've took loans. The next year, 2018, it made them in pure losses because they invested because of hype and not learning the process.

It's all on you. If you understand what you do and you can take the possible loss that's about to come, it's your take.

You can say too on the possible thing that will happen if the market tend to rise even more into that 2017 event where it can possibly be in result for you to make
even more money if it did really continue but to say that time that it was never anticipated that its already into its peak and tending to make out that
huge correction after that.No one did really anticipate nor expect for that thing to happen.Taking a loan for the sake of investment is really hard to consider.
You know that risk is heavier than on the possible reward unless if you don't rely into those profit to repay those loans then go ahead
but be sure that you are really risking something that you would still need to pay afterwards.

No one has expected things to come positively in the market. Just don't do it because it's not really favorable.

And only invest the money that you can afford to lose and you've never asked for that's being owned by another person. It's best to invest with your own money than borrowed/loaned.

MWesterweele

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Quote from: Sinjokubhi on February 10, 2021, 04:28:54 AM

I think so, taking a loan to buy Bitcoin would be risky. because we cannot expect profit from the increase in Bitcoin which is not clear will experience this continuous increase. It's better if we walk with what we have now, don't be too pushy to borrow money. because if we experience a loss it will not have a big impact on us.

Reading from the title of the thread all that have come to my mind was the risks that the OP's idea will take. I'm not saying that taking a loan to buy bitcoin wasn't worth it but for me the risks of losing what you have loan and the thought that there is no assurance for it to earned even a small amount hunts me. I am not a pro taking loans to buy bitcoin because i do believe that there were some ways to have or to earn your own kind of bitcoin. Some were giving for free way back then year 2018 but now i guess it didn't exist but we have a signature campaign which offers altcoins or lucky if you could join in a campaign which giving bitcoin as its salary where you are not required to pay out or taking loans all you need is paying your time and learned from it.

Ucy

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Quote from: iv4n on February 09, 2021, 01:09:46 PM

This is not the first topic of this kind... to take a loan to invest it, in this case in Bitcoin! I am sure some people did it, and if they chose a good moment for that now they are on horse, they can payout that loan and they book nice profit on top of that!
I say what I always say, it's risky to take a loan for any kind of investment, it's something you do after you tried everything else! In the same time without risk there's no gain, so if you plan to do take a loan, be sure that you checked everything, and have some backup plan! Of course, try to find a good moment for investing in crypto, and I am not sure that now is a good moment for buying, especially with loaned money!

Ofcourse.
I really don't like taking loans for investments(even if I'm sure of profit), not to talk of taking loans for things that won't be profitable. Will invest in something I'm sure will be profitable to enable me pay back and multiple the profit, but I wouldn't discourage people from getting loans if they have done their homework like you probably stated and are sure of earning profits from their investments. I believe this is part of what lenders should know about borrowers for the sake of the borrower and the lender.

Sinjokubhi

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Quote from: Oshosondy on February 09, 2021, 08:43:50 AM

I do not have to read all about your post before I will tell you taking a loan is not necessary. But if you think you can gain from it, you can try but you can expect gain and lose, this will make it difficult for you. I will advice you not to take a loan. The bitcoin market and crypto market generally are volatility, loan is not recommended for it.

I think so, taking a loan to buy Bitcoin would be risky. because we cannot expect profit from the increase in Bitcoin which is not clear will experience this continuous increase. It's better if we walk with what we have now, don't be too pushy to borrow money. because if we experience a loss it will not have a big impact on us.

Ararbermas

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In my opinion it's a good idea but not the whole things, cause it's not safe to put all of your eggs when it comes crypto currency.. Wherein its like you sacrifice your whole money on it because of being so unpredictable of crypto market. . So i suggest just to continue your loan
. However if you really want to try to get some profits with BTC then just try a small amount and learn how it really works cause it useless if you jump in it and you don't have knowledge how to handle you investment especially during the fluctuations of growth rate in the market. It's very scary bro.. Grin

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