Topic: Will you take a loan or sell ur Bitcoin? (Read 867 times)

It may be that the benefit of a loan without interest for a cycle is almost impossible. Although many people have idle money, but on the condition that they return it to you if they are trustworthy. I am optimistic about Bitcoin that you can expect the expected return from multiple cycles. Bitcoin will not give you money back every time it is logical and it is logical that you cannot deny the wave of increase in its value in the past and it is tempting you to be more aggressive. Many forum users predicted that it would touch $100k in 2024 and many considered it a fantasy.

Personally I think there is not best way in solving situations like this it have to depend on individual differences, I know of many people that that last thing they will even want to do is to take loan, they just have to owe people or someone. And there are also some who will never want to touch their investment especially bitcoin investment, so it depends on the kind of person you are. So to me if were in a situation like this I will sell my bitcoin and solve my problem because I belong to that groups of persons who don't like to owe people. I believe investment are meant to save you when are in a problem so why looking to take loan when I have the money to solve the problem.

Another key factor to consider in situations like this is how bitcoin is currently moving in the market, if bitcoin is on the pump then you will be force to take loan instead of selling at that period. So like I said there is no best way in situations like this it just depends on individual differences and their decisions.

Na true talk you talk here, some people wey don go borrow money wey ordinarily them for fit pay back without stress, them go come observe say when time reach to pay back, E come dey hard them to raise that small money talk more of to pay am. Although sometimes, some of these scenarios no be spiritual something, fit turn out to be say some unforeseen consequences don come up which of course dey very normal.

Some people why them dey encounter problem with taking loan be say, them go know fully well say with their current income level, no how wey them go fit use pay back the money and them go just zero mind collect the loan with hopes of miracle or magic to occur for them tomorrow. And when that time reach now, them go come dey run around like rat wey them put fire for tail. Na why our people talk say, “mouth wey some person dey take borrow money, no be the same mouth him go take pay back”.

Again, E depends on the kind of investment wey person do too, and your financial goals, na E go determine whether you go fit actually withdraw part of the money take sort yourself out. For example, if person get Bitcoin stash wey him Dey plan to hodl for at least 2 years, and maybe as him just buy am, Bitcoin price come drop small and the emergency come come up, Omo me I no fit advise such person to go withdraw money from there oo, plus, Bitcoin supposed to be long term investment, no be investment person supposed just touch anytime person get small wahala if not, E go take you longer than planned to achieve your financial goals.

But if the investment nah just one of these Altcoins investment, I fit confidently withdraw some money there take settle my wahala, because I no too trust altcoins profitability for the long term, anything fit happen at anytime and you fit lose everything so I fit collect money there anytime need arise.

This is a simple question that requires a simple answer. Bitcoin is not an asset that will always give you money, so you consider the possibility of it giving you money at that time. If this possibility is high and it will also give the money more than the loan you would take and the interest thereof, then it is wise to take the loan.

An example was the US election time, the ETF saga of 2023 or when the long-term pattern on the chart was undeniably bullish. But if none of the hopes is forthcoming, it would be foolish to take a loan. Just liquidate the asset at the time, then buy it back when you have the money instead of paying back interest on the loan.

Exactly and the risks that comes with it can be so embarrassing, especially when it happens that the person or company you're getting it from is not understanding and would go to any extent to embarrass you to pay up your debt, I've seen a situation where a loan company posted a photo of a lady, accusing her to be HIV positive and an internet fraudster and that friends and family should avoid her, imagine the shame and embarrasement such person would've gone through on seeing that on the media, such stuff could break her emotionally and mentally and it's all because she took loan and couldn’t pay up at the exact date of return, I'll rather sale some portions of my Bitcoin to sort myself than end up in such situation as that lady all because of taking loans.

Loan interest, profit at a cyclical growth rate, which makes a person economically miserable. When you have no way out in your crisis, lenders come forward to lend you money. Our brains are inclined to take a loan to cope with the situation. I think the loans we take to solve the problem later see that the profit of cyclical growth pushes us towards more economic stagnation. In this bull season of Bitcoin, traders have become very anxious to save Bitcoin and investors are always investing in Bitcoin in view of the high return in the long term. (OP) You can spend this money on solving your problem instead of investing in Bitcoin during this bull season and if your problem is serious, then if you have no way out, you can decide to sell your Bitcoin.

I think if the Bitcoin forum moderators introduce a low-interest loan system, Bitcoin investors will be able to repay their loans by purchasing Bitcoins on the one hand and on the other hand, they will be able to continue investing in Bitcoin investments on a regular basis. In this way, investors will be able to maintain their investment system in the long term and build their portfolio without financial risk.

It all depends on how urgent the issue I need money for is. Taking a loan comes with lot of risks and it's not something I would normally do but selling my Bitcoin could be the only choice I have. If you have a problem to solve with money you can just sell a small percentage of your Bitcoin and keep the rest. This is better than collecting a loan whereby you might be asked to pay back with interest. But not everyone would take this decision, we all have our needs so we can't make the same choices. But remember the risks of taking loans before trying to take them.

Op, this is a very technical question that need to be attended to. Firstly, no wise man will borrow when when you have a saving elsewhere to solve a personal problem.  Money is saved or make to solve our problems.  Taking a loan when you have an investment that you can sell and solve that issue is a burden itself.  So I'll advice you sell your coin if the problem is life threatening or emergency condition.  You have to be alive to save or invest. So sell your bitcoin and solve the problem.  Nothing should make you borrow money when your have savings.  Bitcoin will always be here for you to buy, when you finish solving your problems you can start investing in Bitcoin again.  So it's better you sell your coin than to take a loan.

And borrowing to invest for bitcoin i no go advice this kind matter because we know the way bitcoin matter be, no be something you go make money from sharply so the thing go better of we prepare instead wey we go borrow to invest. The thing better if you plan how you go take they invest, considet DCA and other strategy. And to borrow money for other things no bad but bitcoin if the thing no come increase na so person go just they wait and when the price no hit waiting you they expect you no go get choice than to sell to pay back.

And other investment they so as you they make money for every direction, and na then every body go enjoy there bitcoin investment because the moment you no get any other source of i come, you self go see say you no go enjoy the investment so he go just better if you know waiting you wan do before any other thing because when it comes to investment some people know they know waiting to do and the moment them hear bitcoin them self wan investment without knowing waiting bitcoin they about.

Well that's not a difficult question to answer, I will take a loan and solve the problem and pay it off gradually with money that I will earn from my other sources of income. It will only mean that I will temporarily stop my weekly or monthly DCA till I have repaid back the loan that I have collected. When I have completely repaid the loan, then I will start buying more bitcoin and adding to my bag. But one thing that I will never do is to sell off my bitcoin just to solve any problems. Although as an investor it is expected that you have a backup funds or an emergency funds that should take care of situations like this. If you keep running to your bitcoin anytime you have problems, you will run out of bitcoin holding, because problems don't always end.

It's never recommended to take out loans when you have investments that you can sell a portion of to take care of your urgent need of money. You shouldn't have a well and go to your neighbour to borrow water just because you don't want to fetch water from your own well but waiting for it to get filled up.

There are some people that have done the borrowing and succeeded in playing back but it doesn't work that way for everyone. The borrowing fit be the start of your downfall because we know say all this loan people no dey use normal eye do business including the banks too.

Some of them want make you they owe them forever and you no go fit pay so them for use you as they want or seize your property. Avoiding debts go do you better than taking on debts. You fit they hodl and still no live long to enjoy am so make you no dey over do things.

There are times it doesn't make sense to sell especially when the needs aren't urgent like when you want to buy a want and not a need, you shouldn't sell in any circumstances for that purposes.

If you manage your investments in the right way, you may not be exposed to such a situation. Thinking about such a situation, we should have a strong emergency fund and another fund, which is called a reserve fund. If you can build two such funds strongly, then you will not have to wish for or worry about such a situation.

Although such a time comes unexpectedly. If I face such a situation and if I have only two options left, loan and sale of funds, then I will initially prefer to take a loan. If the situation is such that I need a lot of money and I have to borrow an amount of money that I will struggle to repay or it will be impossible to repay in a few days, then I will prefer to sell the investment instead of borrowing if I am making a small profit or loss. If I am making a big loss, then I will take a loan for a few days and later sell the investment and pay it off. I believe that if you give Bitcoin some time, it will be able to turn into a profit. Taking a loan for a long time will never be a good move. After selling the investment, I will definitely succeed in investing, but debt will put pressure on your life.

In a case where a situation like this occurred, I have Bitcoin and as well has an option to take a loan, Firstly, I will weigh into the two options which one would put my heart at peace, so if I should consider taking a loan, I first have to know the interest involved, whereas in the case of Bitcoin,  does it involve me selling all my Bitcoin?

If the answer is no, Then, I may consider selling some portion of my Bitcoin if it will be of advantage selling my Bitcoin , Because not everyone has access to loan and not everyone has a collateral to take a loan,  so these are various thing I would be considering before my final decision, therefore either ways can go depending the one that would benefit me the most.

This very question perceptional base on individual for me in as much Bitcoin is like other investment where profit can be made at the end of the in investment there is nothing wrong for taking loan in as much loan can be taken to Carry out other investment which brings in profit, what the person need most to evaluate is the interest rate at which the loan is to be given and the number of years he desire to hold Bitcoin what will be of the loan interest rate and what Bitcoin will yield for the borrower the two difference is a determinant because you can sell of your Bitcoin why what the interest rate is not that much compared to the profit you can make in Bitcoin holding which will pay off you loan still position you in better height when the loan is considered the best option.

taking loans is never an option, it makes you indebted physically and mentally!
If your investments can solve a problem for you and you choose not to use it and rather collect a loan , then why the hell are you investing.
Why hold?
If your holdings can't beof help to you!

This is one of the reasons why you should have backup funds that you save in case of any emergency like this. In this case I won’t take a loan to solve my problem; I will just sell some part of my bitcoin to solve my problem, and then when I’m free, I will top up the investment, although that is why we work for the money: because of problems like this. So taking a loan when I have bitcoin in my wallet is not a wise decision, so I would rather sell some part of my bitcoin to solve my problem.

Most often I will rather take from my investments rather than opt for any loan, outside having a bad experience with taking loan. Like Charles-Tim said here selling our coin will not require us to pay any significant tax, not like some other countries and so I prefer this. Settle the issue with my bitcoin investment and then start planning on how to even get more investment funds, even if the price surge more or decline significantly and then, not ignoring the need for emergency funds in order not to find yourself in constant loop of selling your investments funds.

While after taking a loan, I will have that pressure of paying back the funds before the deadline and not ignoring the interest that will follow especially when unfortunately failing to pay the before deadline. Sometimes it will leave the person no choice than to even take another loan to clear the first one, especially when things don't go as plan.

You need to realize that your BTC holding isn’t for future Emergencies but to make sure you have a solid foundation, and selling off your holding to sort out an emergency simply because you’ve been able to make some little profits is a very flawed approach, except you didn’t plan from the onset to hodl for the long term, which is another error investors make with their BTC investment. First of all, BTC accumulation and holding should be for the long term, and within this long term period of at least 4 years and above, and the idea of selling within this period would affect the growth of your investment, because your priority should be building a solid BTC portfolio and to achieve this, you need to have the long term approach, plus you need to use the compounding theory, whereby every profit you make off the investment goes back in there to ensure a more rapid growth.

And secondly, you need to have a financial back up, like and emergency fund, even before you begin your accumulation journey so you have something to fall back on in the future when an emergency arises, and avoid dipping into your holding, but in a situation where there’s No emergency or other back up funds, the best approach would be to take a loan to sort out the emergency but before doing that, you need to map out a solid plan on how to repay the loan, even before seeking for the loan.

Money comes to everyone for a reason and for a season and if one is lucky enough to have patiently saved or applied DCA strategy to hold Bitcoin till now when it is at $100k, and there is a financial need to be met, I see no reason why one should suffer in penury or go into debt when they can clearly sell off their holdings even if not all, diversify some portion of the capital and profit so as not to become broke at once.
If the discipline to hold BTC to the current amount in one's account is there, it can be maintained with more effort and recovered in full to meet up any goals one initially had in mind.
After all, if one dies with much HODLing and did not spend it at all nor told close friends or family about it, it could become lost to the decentralized space forever.

Well just like you said this is just an imagination although sometimes we do encounter situation like this but the thing is, how will one encounter this kind of situation without having at least a little thing with him/her when you are an investor, it is very rare to see a bitcoin investor encounter a challenge like this and do not have atleast a little money with him or her. if i may ask what have the investor being using  to invest since and what kind of strategy is the investor using, we are ought to invest with what we can afford and what is convenient for us because of this kind of challenge so anyone who is not observing this, is already getting the investment wrong and lastly if at all a situation like this comes up and the person is stranded but have bitcoin in his/her wallet, if the challenge is worth selling the bitcoin to... then the investor should sell and..., after all life does not end here i mean the investor can still continue again but it is really going to take time to grow your investment back.