Trading and investing in bitcoin or cryptocurrency is a risky activity. The capital used to buy asset must be considered from the beginning if something untoward happen. The high volatility of price cant be controlled by anyone and we are prepared to accept all the consequence. I don't think people should borrow a certain amount of money to buy bitcoin or altcoin at this point.
In my opinion this is not the right time to buy because the price is very high and the risk of losing quickly is very large. If it was me, then I wouldn't do it this time with full consideration.
Topic: Warning from ETH founder about taking loans. - page 2. (Read 345 times)
It was a news yesterday or the day previous posted in his twitter. And yeah, I have to agree with this. As crypto is way more volatile than any other investment, I guess no one should ever take loan for investment in crypto. Even fund out of your pocket should be invested carefully as high volatility may ruin your fund as after the 2018 ATH, a lot of people lost their 90% or even more value of their portolio.
I can't imagine borrowing money to buy cryptocurrency. Usually, I don't like to take a loan without emergency circumstances, so no question about cryptocurrency. Current cryptocurrency markets are quite volatile, even I can't dare to trade USDT/BTC at the moment. Because we don't know what would happen, the bull run would continue like this or it would dump as well. If in case someone buys bitcoin by taking loans and crypto markets dump suddenly then you may become a beggar and wouldn't return the loan. So, it's better to take such as high risk.
I do not like to borrow money at all, in any situation. And today, in times of such high volatility, it is extremely risky. Many today are beginning to get nervous and hastily buy cryptocurrency, in the hope of its further growth. But, yes, such investments can be carried out by large companies when their bitcoin investments make up 1-2 percent of their capital. This is a lot of money, but for an ordinary user, risking loans in a growing market is extremely unreasonable.
I very often read in the news that this or that old woman decided to increase her pension, and was deceived by scammers who promised her to add capital through the purchase of bitcoin.
There is a good rule, it works like a notation: if you are not strong and not very literate in knowledge about cryptocurrency, first, increase this knowledge, and then invest.
I very often read in the news that this or that old woman decided to increase her pension, and was deceived by scammers who promised her to add capital through the purchase of bitcoin.
There is a good rule, it works like a notation: if you are not strong and not very literate in knowledge about cryptocurrency, first, increase this knowledge, and then invest.
I am able to sleep at night because I only risk my own hard earned money, all the process of learning which project is fake or real by putting in some money was easier for me because it's my own money, imagine borrowing the cash and investing into crypto? That will put my ass in deep shit, newbies should abstain from such
I'm sure that many people are been hype for the current market situations where FOMO is in the minds of people and hyping is spreading every where.
This article released is really a big help for those people who think about taking loans just to have a capital to buy bitcoins without realizing the danger about it.
https://www.coindesk.com/buterin-warns-followers-not-to-take-out-personal-loans-to-buy-crypto
And we need to take many considerations before deciding to do it since if we don't have money to pay if we lose our borrowed money then this could create a huge trouble and might this is a big reason for certain individual to get broke.
So think more about this and make a good decision since it's really risky to take loans since we are already at lose since it has an interest that we need to pay as well it's risky if we don't know on what you are doing.
What are your other personal inputs from this? Kindly share your opinion.
This article released is really a big help for those people who think about taking loans just to have a capital to buy bitcoins without realizing the danger about it.
https://www.coindesk.com/buterin-warns-followers-not-to-take-out-personal-loans-to-buy-crypto
And we need to take many considerations before deciding to do it since if we don't have money to pay if we lose our borrowed money then this could create a huge trouble and might this is a big reason for certain individual to get broke.
So think more about this and make a good decision since it's really risky to take loans since we are already at lose since it has an interest that we need to pay as well it's risky if we don't know on what you are doing.
What are your other personal inputs from this? Kindly share your opinion.
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