Taking a loan to buy Bitcoin? - page 3.

Hamphser

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Taking a loan to Buy Bitcoin could be the starting point of your wrong move, there are so many options for us to have bitcoin. Don' t you know that even your not using any amount of money you can still have a chance to have Bitcoin or earn it? The question is how? You can do this by simply joining the bounty campaign depending on the categories in which you think you are suitable with it.

Not all do knows this forum and not all would really be directly having a high ranking account to deal with bounties or signature campaigns or task that do give out bitcoin or top alts as a payment.

So this option or method is just suited out for some numbers but not as a whole this is why people do consider on the simplest one which is to take loan on making out investment.

I agree that this one will be the starting of the wrong move because paying up interest without knowing your profitability in crypto.

If you can pay it up then dont bother but if not then better not to consider this option.

ReiMomo

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Quote from: livingfree on March 08, 2021, 05:04:38 PM

~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.

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.

livingfree

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Quote from: Viscore on March 07, 2021, 05:29:28 PM

Quote from: livingfree on March 07, 2021, 05:16:06 PM

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

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.

Not a very good idea to encourage people to take loans. But that's you people if you think that it won't really be hurting you then do it at your will.

Because in the past, there were the same thoughts and words but in the end, when they see bitcoin starts to crash, they're putting much blame to others who have told them to do it.

Once they decide to borrow money to buy bitcoin or to invest with bitcoin, they should already know the risk as in investing, you might succeed or fail, that's the only two possibility. I think this strategy will work as long as you don't borrow from the long shark, let's say you borrow and you'll pay 1% interest per month, so you are already profitable now as bitcoin have already increase more than 300% in just less than 6 months.

Fail or success.

It's always the two way around if you invest.

If you take loan and do it for investing in bitcoin, you'll have to wait for unknown time until you profit. If you think that you can sustain the payments and interests that will occur through your loan.

You do it.

But for me, it's not really going to work. I will not take that type of risk.

Ziskinberg

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Perhaps, You are right, but it is better to move on and forget about trading as we don't have any capital to start. Maybe in the future, if the time permits and when we have enough capital to start.

Quote from: coiner-88 on March 08, 2021, 05:41:47 AM

Notwithstanding, being reasonable and judicious about this, the danger associated with credited add up to purchase crypto is way higher contrasted with your genuine cash that you approve of losing. 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.

Not unless if he is really good at trading but as we all know that trading is so risky and that losses will always come to us, this makes not a good idea.

It is very important to think wisely and we don't need to compromise ourselves in the coming days just for the sake that we wanted to trade. Because that will also affect our decisions and possibly, we can't make good decisions.

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Quote from: Lanatsa on March 07, 2021, 07:37:50 PM

Taking a loan with having that kind of reasoning to banks? For sure you would really be getting 101% decline with that because knowing banks do really hate crypto
and as a side note it wouldn't show stable income with that and since these institutions are really meticulous then its no surprise for such decline.

Using up your savings will be your last resort but doesn't mean that you would need to risk it out all because nothing is assured when it comes to crypto investment.

You wouldn't know on when it would pump and when it would crash which would neither result on having gains or simply a loss.

Borrowing for crypto is definitely not something I would best agree with, let alone a loan to a bank. Besides, we really believe that what we will do can certainly return or get benefits. so that you can return the loan not to be a burden in the future. because a loan to a bank will be the best alternative if we believe in it and there is no other alternative, because maybe we don't have cash funds.

true, that is not a strange thing anymore and we ourselves know that crypto is very unstable and difficult to predict its movements. but if you are sure of the analysis that has been obtained based on your experience, there is clearly nothing wrong with investing in crypto. because it is clear that until now crypto is still a profitable investment.

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Notwithstanding, being reasonable and judicious about this, the danger associated with credited add up to purchase crypto is way higher contrasted with your genuine cash that you approve of losing. 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.

Lanatsa

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Quote from: Hippocrypto on March 07, 2021, 07:29:56 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.

I don't recommend this idea of taking loans my friend, on my personal experience I did an attempt to loan just for that purpose but I was declined by banking agent. They never trusted the purpose for cryptocurrency investments, but partly they're right in the first place. There's no assurance when you're going to risk in trading, however if there's an opportunity to buy bitcoin at much lower cost from it's price as of today I would love to take chances using my savings.
Using that money for long term holdings could potentially gain 100% profit in the future.

Taking a loan with having that kind of reasoning to banks? For sure you would really be getting 101% decline with that because knowing banks do really hate crypto
and as a side note it wouldn't show stable income with that and since these institutions are really meticulous then its no surprise for such decline.

Using up your savings will be your last resort but doesn't mean that you would need to risk it out all because nothing is assured when it comes to crypto investment.

You wouldn't know on when it would pump and when it would crash which would neither result on having gains or simply a loss.

Hippocrypto

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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.

I don't recommend this idea of taking loans my friend, on my personal experience I did an attempt to loan just for that purpose but I was declined by banking agent. They never trusted the purpose for cryptocurrency investments, but partly they're right in the first place. There's no assurance when you're going to risk in trading, however if there's an opportunity to buy bitcoin at much lower cost from it's price as of today I would love to take chances using my savings.
Using that money for long term holdings could potentially gain 100% profit in the future.

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We know trading on Bitcoin is an activity that has a high enough risk. And also in Bitcoin trading there is no fixed profit. Sometimes we can profit
and there are also times when we have to lose. The conclusion is that income from Bitcoin cannot be a steady income. Therefore if we borrow money
to buy Bitcoin, it will only add to the problem. Because borrowing money, there must be regular installment payments. Meanwhile, the income earned
from trading is not routine. My advice is to buy Bitcoin, we should use the extra money we have, so when we fail to get profit, there is no need to panic
and be patient for holding Bitcoin until the Bitcoin price goes up again.

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Quote from: livingfree on March 07, 2021, 05:16:06 PM

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

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.

Not a very good idea to encourage people to take loans. But that's you people if you think that it won't really be hurting you then do it at your will.

Because in the past, there were the same thoughts and words but in the end, when they see bitcoin starts to crash, they're putting much blame to others who have told them to do it.

Once they decide to borrow money to buy bitcoin or to invest with bitcoin, they should already know the risk as in investing, you might succeed or fail, that's the only two possibility. I think this strategy will work as long as you don't borrow from the long shark, let's say you borrow and you'll pay 1% interest per month, so you are already profitable now as bitcoin have already increase more than 300% in just less than 6 months.

livingfree

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

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.

Not a very good idea to encourage people to take loans. But that's you people if you think that it won't really be hurting you then do it at your will.

Because in the past, there were the same thoughts and words but in the end, when they see bitcoin starts to crash, they're putting much blame to others who have told them to do it.

Ryker1

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Quote from: ScamViruS on March 07, 2021, 03:19:18 PM

^[snip]
If you want to invest in Bitcoin, you have to pay more attention to long-term hold, if you have the idea of making a quick profit, you should avoid it and invest. So it seems to me that investing in Bitcoin by borrowing can be risky if the market is volatile.

Well, perhaps if you have a plan to invest in bitcoin always remember as they said, --invest only in what you can afford, if not then, there is another chance that you can buy bitcoin without having any debt. Because that is a debt and it will remain debt even if you think you will gain profit once the bitcoin market at the bull trend. However, this is the fact, there is no quick of gaining profit in crypto, it is always having a volatile price and it could be you will have a doubled loss from borrowing money as paying the interest and your investment if you cant wait and immediately sell.

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Quote from: molsewid on March 07, 2021, 02:38:28 PM

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To be honest, it will only put a burden on us if we use borrowed money. Even using personal money, we still think about losses etc. if we continue to make that decision, make sure you have another income that can afford to pay interest each month. of course with borrowed money we cannot predict the profit every month from trading, then when we lose if there is no other money for us to pay?

It is indeed and will surely become an addendum to your life's burden and problem in case. Actually having a debt was a total package solution enough to stress you out and considering a taking a loan to bank to buy bitcoin has no difference by debting. Aside from taking a loan to buy bitcoin instead, why not try to focus participating here in signature campaign where you didn't need to pay out your cash to be able to have a crypto, instead the profit that may get from it was good enough if accumulated.

Remember that not all people do know about this forums existence or doesnt have an account for them on sufficiently able to participate on signature campaigns.Therefore,
this kind of option isnt really for everybody and this is why other people who do really end up on this kind of option on taking up some loan for them to invest with bitcoin.
This is really adding up on the burden on someone just like on bank loans but if you do know that you can really pay it off then i dont see for such problem
but if you do really rely on the profit it make for you to pay those interest then better not to have this option.

ScamViruS

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I don't think it would be right to borrow money and invest in Bitcoin. I'm telling you honestly, so my words may not be acceptable to you. There are two things to consider when making any investment: profit and loss. Now if you invest only for profit and ignore the chance of loss then it will be a bad decision for you.

If you want to invest in Bitcoin, you have to pay more attention to long-term hold, if you have the idea of making a quick profit, you should avoid it and invest. So it seems to me that investing in Bitcoin by borrowing can be risky if the market is volatile.

molsewid

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To be honest, it will only put a burden on us if we use borrowed money. Even using personal money, we still think about losses etc. if we continue to make that decision, make sure you have another income that can afford to pay interest each month. of course with borrowed money we cannot predict the profit every month from trading, then when we lose if there is no other money for us to pay?

It is indeed and will surely become an addendum to your life's burden and problem in case. Actually having a debt was a total package solution enough to stress you out and considering a taking a loan to bank to buy bitcoin has no difference by debting. Aside from taking a loan to buy bitcoin instead, why not try to focus participating here in signature campaign where you didn't need to pay out your cash to be able to have a crypto, instead the profit that may get from it was good enough if accumulated.

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This is not a good decision in this time. Because Bitcoin price is now volatile. In the present time bitcoin price is much high. You can taking loan and buy Bitcoin when its price getting some low. Because Bitcoin is a good coin. So wait some days and wait for price getting some low. Then take loan and buy Bitcoin for making good profit.

k@suy

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Quote from: Question123 on March 06, 2021, 05:01:43 AM

For the people who taking loan to buy bitcoin in the last few years are earned more profit if the loan they got is the purposes is to hold bitcoin. But now it is risky to invest to the bitcoin if the money they use from the loan because what if you invest and the price of the bitcoin dump and you need to pay the loan that you use in buying how you will pay it and for sure it has interest that will gives you more stress.

If theybreally believe that bitcoin might go higher than usual maybe taking a loan can be good as well, i am against to any loan yes but if you will look to the brighter side and to the profit that you will be getting in the long run, you can earn more from what you are having right now, but loan or debt cannot be considered an investment because that is liability so you should take care of it first then you can add your profit later on to your networth.

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Taking loans to buy crypto is not recommended but if you know how to handle your loans and at the same time knows how to trade and invest in bitcoin to earn profit and not losses, then you can take loans. Also, it's only you who will take the risk after all. If you loss your bitcoin and can't pay back your loans then you just give trouble to yourself. So be careful and think many times before taking any action and decision.

If you have the right knowledge and discipline, taking a loan may help you to grow your investment, but it's not
recommended as it's far better to start small without thinking of any loan.

It adds up to your aggressiveness since you are thinking that you need to have profits to cover your loaned
money and to continue surviving your investment.

Japinat

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Taking a loan on bitcoin is very risky, we might think that it's okay to borrow in BTC as the price is stable and we can still pay the interest, but wat if the price will pump, like for instance, you borrow 1 btc worth or $10k and suddenly in just less than 6 motnhs price went to $60k for 1 btc, I think your struggle will start.

So I would suggest not to borrow btc for personal needs, otherwise you'll face the problem I've mentioned.
I experience that... Sad

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

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.

Then how long you would consider on repaying up those loans? Unless if you can repay it without relying into the money you had borrowed to be invested then its good but
if you are depending on it then this would really be a very bad idea.

When it comes to future then nothing is assured but bitcoin didnt really fail to impress us when it comes to that manner.All we do need is patience.

Not all would really be having that same characteristics when it comes investment or being patient.Not all would really be willing to wait and make up
decisions according on the situation they are in.

Topic: Taking a loan to buy Bitcoin? - page 3. (Read 4693 times)