Topic: Taking a loan to buy Bitcoin? - page 2. (Read 4693 times)
Loans are always bad and must be avoided. If you are taking loan to buy bitcoin at 60k then it's the worst decision. Not many take loan and buy bitcoin when it was at 3k and 4k. We only love a coin when it was at its ATH and thats bad strategy.
I made the same Mistake in 2017 , When i thought the Bullrun continuing the Flow until the end of the year or at least the start of the 2018 like what happen last 2020, But I'm wrong and what happens is when the time i have a Emergency loan to invest in Bitcoin that is the start of the Fall and my funds got trapped for the whole 2018 and makes harder to fill the Loan though i managed to pay it back until 2019 , so now i will never give same advice for any of you , Better to Just invest all you can from your Own money and not from any loans from company or even in individual because the volatility will eat you alive .
This is the difference, if you get a loan that you can pay back with your regular salary, that means you can take out a loan, but if you take a loan with the idea that you will pay back when crypto goes up, that is a bad loan. For example, let's say you have 5k salary per month (whatever fiat, dollars, euro, not important for this example) and you spend 4k of that every month and save 1k per month and you buy crypto with that, if you think that crypto will go up, instead of waiting, you can get 10k loan, pay it back in 12 months with interest and until that year ends bitcoin could do 2x and you would have 8k profit easily thanks to that.It could drop as well, but you already save 1k per month anyway so you will not have to touch your crypto. If you did that during 2017 bull run, you would have 3x your profit even from peak of 2017 to peak of 2021 levels which was 20k to 60k levels.
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.
I made the same Mistake in 2017 , When i thought the Bullrun continuing the Flow until the end of the year or at least the start of the 2018 like what happen last 2020, But I'm wrong and what happens is when the time i have a Emergency loan to invest in Bitcoin that is the start of the Fall and my funds got trapped for the whole 2018 and makes harder to fill the Loan though i managed to pay it back until 2019 , so now i will never give same advice for any of you , Better to Just invest all you can from your Own money and not from any loans from company or even in individual because the volatility will eat you alive . 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.
Nowadays taking out a loan to buy bitcoin is the wrong move. there we will lose money and also lose investment because of the risk, of course, if you buy bitcoin at the current price.
I agree with you, the risk is too big if investing using loan funds, most people who do this because they only think about profit and do not consider the risk, the risk is if using loan money and the investment does not run smoothly, then he may go bankrupt and sell all the assets he has to cover losses. Not only that, if based on the management, this is not the right decision, because it will only make investors panic easily. 
Its quite risky i think.
Bitcoin price can easily fall to 20k/30k even less cause in crypto market anything can happen.
So its better to invest in this kind of risky projects with loan.
If you have quite enough funds in hand to invest then its better to take a place in crypto market.
Otherwise its a risky platform.
Never ever consider on getting some loan to make out investment unless if you do really knows the risk and could able to pay up if its already in due time but if not then dont make this kind of option.Bitcoin price can easily fall to 20k/30k even less cause in crypto market anything can happen.
So its better to invest in this kind of risky projects with loan.
If you have quite enough funds in hand to invest then its better to take a place in crypto market.
Otherwise its a risky platform.
If you are really on that desperate situation then you can always find ways but not to take up some loan.You can borrow into your family members or relatives at least you could still make up some excuses
when the time you cant repay those loans but actually having this kind of behavior of being evasive in times of payment isnt really that good to look at.
Savings does plays big important role not only for emergency purposes but for investment times too.
Its quite risky i think.
Bitcoin price can easily fall to 20k/30k even less cause in crypto market anything can happen.
So its better to invest in this kind of risky projects with loan.
If you have quite enough funds in hand to invest then its better to take a place in crypto market.
Otherwise its a risky platform.
Bitcoin price can easily fall to 20k/30k even less cause in crypto market anything can happen.
So its better to invest in this kind of risky projects with loan.
If you have quite enough funds in hand to invest then its better to take a place in crypto market.
Otherwise its a risky platform.
I know there are many risks, but seeing how the market is going I think the most appropriate thing despite everything is that if I could ask for a loan, I would give 75% to buy Bitcoin and the other 25% I would have to answer at least for the first ones months of payment while making a profit with bitcoin, or the fraction of Bitcoin that has been bought, would try to take out at least 6% quarterly to pay the debt.
It's a total kind of risk taking a loan just to buy bitcoin but if you know in yourself that you are knowledgeable enough, responsible enough to handle that loan, can generate a profit and know how to play the market enough then i guess considering taking a loan wasn't that bad though. Maybe a proper distribution if a loan should consider because at the end of the day your personal choice, your decision and desire will dictate what you. 
I have been thinking about it too, it sounds pretty interesting to take a loan to buy BTC I guess.. But I might be too late already
You're not late to buy bitcoin. You can buy bitcoin at any price that you desire and if you have plans of looking forward on it in the future.But the idea of taking loan for bitcoin. You shouldn't give it a try, it might give you bigger problems if you're going to do it. That's why it's better to invest in bitcoin with your own money.
Yeah, coming from your own pocket.
Taking a loan isnt always ideal even on just those normal days of living where taking loan for something it would really be that recommendable.If you could able to pay it up then
its fine but if you are relying on profits then that would risky.
This is why having a savings intended for future purposes can be also used for investment too if youd like.
Just avoid another risk that you will be adding to the risk that you're taking. You are investing with risk through bitcoin although we are all believers of it.
And also, you're taking loan which is also a risk because you'll never know what comes to you upon waiting for monthly obligation paying it.
There isn't any assurance that the benefits that you will get in crypto will beat the premium the bank forces on the credit. There is no amiss with taking a credit for exchanging however make sure that you have any back-up assets to pay your advance once you come up short in exchanging. You can't dodge misfortunes in exchanging and in the event that you just barely depend on the benefit that you may get from exchanging, that appears to be a weight to you.
Right now that is probably the biggest problem, we all know that the market of cryptocurrencies can grow incredibly quickly but if you happen to invest at the wrong time and the interest rates that you need to pay are very high it is possible that even with a huge bull run in the future you will still not be able to make profits out of your investment when you take that loan, as such it is very risky to take such a measure and it is better to just save whatever money that you can and then invest that in the market.I think something, if you can take the loan if you have the ability to repay without delay, the investment in Bitcoin can pay off, if you do, it is best to get the money and pay it to the bank quickly, otherwise you should assume, look for and cancel your payment so as not to have a bad credit life, the value in USD or Eur will remain, it is more likely to decrease in value due to inflation, but in Bitcoin as well as you can lose (at the moment it is unlikely) how win and take the best of all risks to make a profit throughout your life, honestly, if I could do it, I would.
I have been thinking about it too, it sounds pretty interesting to take a loan to buy BTC I guess.. But I might be too late already
You're not late to buy bitcoin. You can buy bitcoin at any price that you desire and if you have plans of looking forward on it in the future.But the idea of taking loan for bitcoin. You shouldn't give it a try, it might give you bigger problems if you're going to do it. That's why it's better to invest in bitcoin with your own money.
Yeah, coming from your own pocket.
Taking a loan isnt always ideal even on just those normal days of living where taking loan for something it would really be that recommendable.If you could able to pay it up then
its fine but if you are relying on profits then that would risky.
This is why having a savings intended for future purposes can be also used for investment too if youd like.
It's a risky move but if you know how to calculate the risk you might be successful.
When you can borrow with a low interest, I guess it's worth risking as long as you have the capacity to pay the loan.
A 1% or even 2% per month loan is okay because of the market volatility, price can rise higher than 100% just one month and that would already double your money which means you will be able to pay your loan and take the profit as your capital for trading.
I'm not saying it works all the time, but it could work or fail, and this is only for big risk takers.
I have been thinking about it too, it sounds pretty interesting to take a loan to buy BTC I guess.. But I might be too late already
You're not late to buy bitcoin. You can buy bitcoin at any price that you desire and if you have plans of looking forward on it in the future.But the idea of taking loan for bitcoin. You shouldn't give it a try, it might give you bigger problems if you're going to do it. That's why it's better to invest in bitcoin with your own money.
Yeah, coming from your own pocket.
Taking a loan isnt always ideal even on just those normal days of living where taking loan for something it would really be that recommendable.If you could able to pay it up then
its fine but if you are relying on profits then that would risky.
This is why having a savings intended for future purposes can be also used for investment too if youd like.
I have been thinking about it too, it sounds pretty interesting to take a loan to buy BTC I guess.. But I might be too late already
You're not late to buy bitcoin. You can buy bitcoin at any price that you desire and if you have plans of looking forward on it in the future.But the idea of taking loan for bitcoin. You shouldn't give it a try, it might give you bigger problems if you're going to do it. That's why it's better to invest in bitcoin with your own money.
Yeah, coming from your own pocket.
Nowadays Bitcoin price increase day by day. So plan to work out the process. If want to invest Bitcoin. Check the marketplace price. Then invest it. Bitcoin is any time to change. So wait for the Bitcoin price down. Then invest it. After invest the Bitcoin then hold the long time and wait for the price increase. Then time to sell the bitcoin.
Nowadays taking out a loan to buy bitcoin is the wrong move. there we will lose money and also lose investment because of the risk, of course, if you buy bitcoin at the current price.
You should have bought when Dhip was like last year because there were all cheap prices and we could get big profits. for now I think there is a big risk if you still make decisions on taking a loan to buy bitcoin
You should have bought when Dhip was like last year because there were all cheap prices and we could get big profits. for now I think there is a big risk if you still make decisions on taking a loan to buy bitcoin
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.
It wouldn't hurt you much if bitcoin crashes then go ahead and take a loan to buy bitcoin. As I believe bitcoin is still very good for long-term investment. A lot of influential people and big companies have started investing in bitcoin. So, the future is bright.
True, if the sole purpose of taking loan to buy bitcoin isn't to disrupt their financial condition because it's not that big amount and could be easily repaid then it does make sense but people who goes all in like this using loan usually have no money themselves and hoping to get rich quick which is very dangerous. but at least if btc crash the money won't be gone and reduced into 0, worst case scenario could lose half the amount of initial capital.
That's betting on bitcoin from the amount of money you borrow, that's okay if you have the capacity to pay not relying the outcome of your investment, but if you do, then you might be in trouble as bitcoin is so volatile and there are bullish period and bear period which could give you a problem.
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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.
It wouldn't hurt you much if bitcoin crashes then go ahead and take a loan to buy bitcoin. As I believe bitcoin is still very good for long-term investment. A lot of influential people and big companies have started investing in bitcoin. So, the future is bright.
True, if the sole purpose of taking loan to buy bitcoin isn't to disrupt their financial condition because it's not that big amount and could be easily repaid then it does make sense but people who goes all in like this using loan usually have no money themselves and hoping to get rich quick which is very dangerous. but at least if btc crash the money won't be gone and reduced into 0, worst case scenario could lose half the amount of initial capital.
If you use the borrowed money to buy bitcoin when the price is this expensive I think it is very risky, but when the price of bitcoin is still below $20k and you use the borrowed money to buy bitcoin then now you should be able to get rich because you can get a lot profit from rising bitcoin prices.
Getting rich? It would vary on how much you had invested on it, unless if you do go all in and the price had able to climb up on another 100% or 150% then you would really be getting some significant amount of profits.It isnt just right to talk about getting rich if you have just invested $1000 as a loan even on 20k price point and the price had climb up to 50k+ or something.It will always vary on the amount been put up.
it's a risk I won't ever think of taking cause it's not a guaranteed return, alot of experts here have said this times without number that investments are done with money you can afford to lose, not a loaned money cause it might not give you whatever your desired return now, the crypto market isnt a rocket that will keep going up forever, it's all about ups and downs I'm not saying buying bitcoin is bad, but using a loaned money is an unwise choice. There isn't any assurance that the benefits that you will get in crypto will beat the premium the bank forces on the credit. There is no amiss with taking a credit for exchanging however make sure that you have any back-up assets to pay your advance once you come up short in exchanging. You can't dodge misfortunes in exchanging and in the event that you just barely depend on the benefit that you may get from exchanging, that appears to be a weight to you.
Right now that is probably the biggest problem, we all know that the market of cryptocurrencies can grow incredibly quickly but if you happen to invest at the wrong time and the interest rates that you need to pay are very high it is possible that even with a huge bull run in the future you will still not be able to make profits out of your investment when you take that loan, as such it is very risky to take such a measure and it is better to just save whatever money that you can and then invest that in the market. ~snip~
But for me, it's not really going to work. I will not take that type of risk.
It's typically a risky type of investment. I will not also suggest and enter that risk just hoping to gain profit because there's no way to determine the time frame of getting your profit while the interest of your loan is kept moving while you are hoping that bull trend will come.But for me, it's not really going to work. I will not take that type of risk.
This will also I guess broke the golden rule of investors in crypto (invest in what you can afford), if you can't afford it, don't push yourself into entering into another high risk that could be your burden if you can't recover your debt. Just play safely in investing in crypto.
Right, don't push to the point that you have to borrow or take a loan just for it. You're better if you're free and no obligation of thinking to pay off because you've asked a loan.
Your money, your investment. But if it's a borrowed money, it might put you into a bad debt.
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