You're not playing with a fire, but you're adding fuel to the fire.
If you can't afford to invest in the first place, just like you can't afford to buy something that you "want", then don't loan. Work up for your savings and split that to invest to crypto. You never want to add the burden to your finance right now.
Topic: Would it be foolish to take out a crypto loan at this stage of the bull market? (Read 295 times)
May 14, 2021, 01:57:32 AM
May 14, 2021, 01:53:59 AM
Think twice about taking some loans and put it all in cryptocurrency. Haven't you think that cryptocurrency may lead you to possible deficit fund? Its because market is so volatile. Just like what happen recently when Elon Musk announced his revoked support to bitcoin and almost all altcoins where bearish, too.
If you have some ways to earn money by your own, it is better than getting some loan for the sake of crypto investments. Look for something that can help you gain aside from getting capital in some lending platform.
If you have some ways to earn money by your own, it is better than getting some loan for the sake of crypto investments. Look for something that can help you gain aside from getting capital in some lending platform.
May 14, 2021, 01:25:41 AM
No its not , it is just how you bother to check your capacity and the availability of the funds that will be allotted for the loan you will take.
Just mind that this is the most risky part of investing and loaning.
Just mind that this is the most risky part of investing and loaning.
May 14, 2021, 01:15:29 AM
It would be best if you are going to take loan in the form of USDT since it value is never changing, this will help you later on as you make ways on how you can repay the loan. If you are going take a loan in the form of bitcoin, considering how much it has been growing, you will surely have a hard time paying it in the end if ever it value goes to the moon. There's nothing wrong with taking loans as long as you have everything planned on how you can win on that risk you are taking. There are still more options and you should consider those too before finally taking up a loan.
May 14, 2021, 01:09:39 AM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
I don't understand the point of Bitcoin loans.
If you have a collateral that can cover such BTC loan,then just why don't you sell the altcoins and buy Bitcoin?You won't have to repay the loan and you won't have to pay interest rates.
People borrow money to invest in their businesses or to buy stuff.What's the point of borrowing Bitcoins just for the sake of HODLing them,knowing that you will have to repay those BTC with interest?
May 14, 2021, 01:02:02 AM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
Absolutely playing Fire with this mate, because never try to make a load for crypto basis work/investments.and also never make decision out of greediness mate..
I will not open America if I say that taking a loan or borrowing is generally a bad topic, and taking a loan in cryptocurrency is twofold more dangerous. Perhaps for someone risk is the meaning of life, but not for me. I am totally against cryptocurrency loans.
Wrong, cryptocurrency loans are not that bad at all , but always consider the options , There are loaner that allows us to loan via crypto using USDT that Means the value does not increasing so meaning even how much you loaned the price will remain forever, though there are some small movement sometimes. legendary
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May 14, 2021, 12:38:30 AM
I think it’d be more advisable to take a fiat, bank loan. Buy bitcoin & HODL until late 2021. The price is going to probably treble so you could easily pay the loan back & make loads of profit too, easy money.
What if this was the peak and the price keep declining as the days go by wouldn't that be a wrong decision you have made. The loan amount the OP is asking for is quite huge although we're not familiar with the Op"s financial capabilities but still I won't advice loan should be tshrn now.
If it was few months back when the shitcoin haven't started to gain from the bull market then I would had supported taking a loan to invest provided it's under your risk management that if you were to loss you won't be unstable. Taking such can if loan can be very deadly for your career in the industry.
If it was to go wrong it'll result in you spending most of your time here recovering by paying back instead of enjoying the profit yif the industry.
May 13, 2021, 06:20:59 PM
I will not open America if I say that taking a loan or borrowing is generally a bad topic, and taking a loan in cryptocurrency is twofold more dangerous. Perhaps for someone risk is the meaning of life, but not for me. I am totally against cryptocurrency loans.
May 13, 2021, 02:19:51 PM
Its so highly volatile . nobody had perfect prediction if i was you i just saying using your money you afford to lose or something you will able to hold it for a long time . and always had plan if everything not goes as your predict.
May 13, 2021, 01:47:19 PM
So i decided to take a 5000 dollar loan out at celsius wallet instead of 15000, it just works better for me 15000 was being a little too ambitious i think now in hindsight i am comfortable with 5000 instead. Yes its for 1 year at 1 percent so the interest will be very mininmal at 50 dollars for the entire year which works out to about 4, 70 a month and thats fine by me. Celsius has a clause were you dont have to wait until your contract is up to pay the principal back you can pay it earlier if you want to. Should things go south drastically i do have emergency back up funds to bail me out so thats pretty good too. All in all i feel pretty good about this transaction but now what left for me to decide is where to invest this 5000. i have a few coins i am thinking about and i decided against going all in on bitcoin. the coins iam looking at are ethereum, ada, and chainlink. i thought about going all in on ethereum to regain the full ethereum coin i had but sold earlier this year or spliting it up amongst the three, what do you guys think i should do thanks
In general, I am fundamentally opposed to the use of loans and credits, but if in this case there is a loan at one percent per year, then these are good conditions. Moreover, you are not going to invest these funds in bitcoin, which has already increased in price too much and is now really a risky investment.Now is still a good time to buy ethereum. I would invest all my money in this coin. The ethereum network is successfully renewing, in July and October there will be more update stages and after that this coin should still rise in price well. However, of course, there is always a risk, since the cryptocurrency market is very unpredictable in its price movements.
May 13, 2021, 11:24:05 AM
If you are going to loan to someone or a platform that will increase its interest based on how long you are going to repay it then I don't think that it would be a good idea to load for investing a bitcoin, that would be too risky because no one knows when bitcoin will rise. Maybe you have to change your plan, just save your money first from your job then invest it in bitcoin, by that it will lessen the risk because it is your money, you wouldn't be bothered of paying for it.
That's the problem with loan, is that it will have interest and it is uncertain whether bitcoin will go up before the interests kick in and the defaulting interest happens. I agree that OP has to change the strategy regarding this unless the loan is a good will one that will not incur interest. It will be problematic if the job is low paying since a man still have to eat.Personally I used to obtain loan in BTC and ETH which I used for forex trading my broker deposit requirements are in those coins but I have to put a stop in obtaining the loan the prices of coins are too volatile for loaner.
May 13, 2021, 11:14:53 AM
It depends on loan conditions and on which crypto you are taking the loan in, if it in bitcoin or ethereum I will advise you to wait until the bull run is over to avoid running into depth because of high liquidity and volume changes. But if the loan come in stable coins such as ustd you can consider taking the loan.
there is a fundamental flaw in this statement and that is at the heart of it the "bull market". first we have to determine which coin is the target for investment using the loaned money and secondly we have to determine if there is actually a bull market or a pump.
for example altcoins are currently getting pumped and are not in a "bull market" which means investing in something that is already pumped and is in a bubble is a very foolish thing, doubly so if the money is not yours to invest (is borrowed).
but if it is bitcoin which is in a strong bull market even though it is taking a pause, then it is a different story because the risk of such a move is so much smaller.
May 13, 2021, 11:10:38 AM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
Remember that investing in cryptocurrencies needs to be bold and have a good strategy to bring high returns. You've probably heard the saying: "Blessed to be a mandarin, have the guts to get rich". So it is a bold idea to increase your Bitcoin amount by borrowing cryptocurrency. Maybe many people consider it a danger. But maybe when Bitcoin increases in price, you can both pay the loan and earn interest. The future is hard to predict, but taking risks and taking risks can do great things. I support you. May 13, 2021, 06:53:08 AM
It depends on loan conditions and on which crypto you are taking the loan in, if it in bitcoin or ethereum I will advise you to wait until the bull run is over to avoid running into depth because of high liquidity and volume changes. But if the loan come in stable coins such as ustd you can consider taking the loan.
May 13, 2021, 05:13:47 AM
If you are going to loan to someone or a platform that will increase its interest based on how long you are going to repay it then I don't think that it would be a good idea to load for investing a bitcoin, that would be too risky because no one knows when bitcoin will rise. Maybe you have to change your plan, just save your money first from your job then invest it in bitcoin, by that it will lessen the risk because it is your money, you wouldn't be bothered of paying for it.
That's the problem with loan, is that it will have interest and it is uncertain whether bitcoin will go up before the interests kick in and the defaulting interest happens. I agree that OP has to change the strategy regarding this unless the loan is a good will one that will not incur interest. It will be problematic if the job is low paying since a man still have to eat. 
May 13, 2021, 04:42:13 AM
~snip~
- People will not stop and feel fear if they don't experience own loses
Everything you wrote makes sense, but we are here to just give advice - and I know from personal experience that it is best if a person listens to their conscience, because that way they will not be able to blame anyone else for a possible failure. What is perhaps most important is that people really learn best from their own mistakes, because once you get burned, you become cautious with every risky decision in life - although some will not learn a lesson after that, but that is another problem.
So i decided to take a 5000 dollar loan out at celsius wallet instead of 15000, it just works better for me 15000 was being a little too ambitious i think now in hindsight i am comfortable with 5000 instead.
Most advise that a loan is not a smart move, but I personally respect your decision because it is about your money, and because you are convinced that the investment will pay off - who does not take risks, can not profit.
i thought about going all in on ethereum to regain the full ethereum coin i had but sold earlier this year or spliting it up amongst the three, what do you guys think i should do thanks
You have a problem at the beginning, you took a loan and at the same time you don't have a plan to invest in - altcoins are currently something most people invest in, but I wouldn't advise anyone to invest in a certain coin - when things go downhill it will be bloody crypto bath, and many will drown in it.
May 13, 2021, 04:25:02 AM
So i decided to take a 5000 dollar loan out at celsius wallet instead of 15000, it just works better for me 15000 was being a little too ambitious i think now in hindsight i am comfortable with 5000 instead. Yes its for 1 year at 1 percent so the interest will be very mininmal at 50 dollars for the entire year which works out to about 4, 70 a month and thats fine by me. Celsius has a clause were you dont have to wait until your contract is up to pay the principal back you can pay it earlier if you want to. Should things go south drastically i do have emergency back up funds to bail me out so thats pretty good too. All in all i feel pretty good about this transaction but now what left for me to decide is where to invest this 5000. i have a few coins i am thinking about and i decided against going all in on bitcoin. the coins iam looking at are ethereum, ada, and chainlink. i thought about going all in on ethereum to regain the full ethereum coin i had but sold earlier this year or spliting it up amongst the three, what do you guys think i should do thanks
In general, I am fundamentally opposed to the use of loans and credits, but if in this case there is a loan at one percent per year, then these are good conditions. Moreover, you are not going to invest these funds in bitcoin, which has already increased in price too much and is now really a risky investment.Now is still a good time to buy ethereum. I would invest all my money in this coin. The ethereum network is successfully renewing, in July and October there will be more update stages and after that this coin should still rise in price well. However, of course, there is always a risk, since the cryptocurrency market is very unpredictable in its price movements.
May 13, 2021, 04:23:52 AM
If you are going to loan to someone or a platform that will increase its interest based on how long you are going to repay it then I don't think that it would be a good idea to load for investing a bitcoin, that would be too risky because no one knows when bitcoin will rise. Maybe you have to change your plan, just save your money first from your job then invest it in bitcoin, by that it will lessen the risk because it is your money, you wouldn't be bothered of paying for it.
May 13, 2021, 01:59:44 AM
It’s always foolish to take out a crypto loan. With such volatility and at this stage in the game you might as well be taking out a loan to make a big bet on a sporting event you have a gut feeling about. There are many more stories of failure than there are success stories when it comes to gambling on assets with leverage. Don’t do it.
May 13, 2021, 12:37:52 AM
Basically, loan is not good at this bull run momentum. Maybe at time of minor correction loan is appropriate so you can invest in dump potential tokens that are in top 100 as long as possible. It is so risky mate. But I understand you very well to take the risk and find the better place where honey and milk are. I wish you will earn bigger to cover your loans and have an extra income. Play safe and good luck.
May 12, 2021, 10:57:44 PM
It is always much risky when you choose to invest a money that comes from a loan, especially that crypto market is volatile.
You should invest your own money even if you said that the market is bullish. At least the profit is only for you and you have no other expenses or debt from other things.
It is much worth it if you make profit with your own money, as it will not make you worry paying your loaned money.
You should invest your own money even if you said that the market is bullish. At least the profit is only for you and you have no other expenses or debt from other things.
It is much worth it if you make profit with your own money, as it will not make you worry paying your loaned money.
May 12, 2021, 06:37:52 PM
I don't know how you got to the idea of taking out a loan and investing, but I think it's a pretty wrong idea. You will be more comfortable if you invest money that you do not need, that you will not be afraid of losing, you will not be sad even if you lose. Trying to earn money with the bank's money makes you panic and make wrong decisions. because you have to increase that money. because it's money you borrowed money. I do not recommend investing by borrowing money.
May 12, 2021, 06:10:11 PM
~snip~
Consider these things first;1. Can you repay the loan?
2. Dont depend on crypto earnings on repaying a loan
3. Can you accept the interest and pay it on time?
4. Dont anticipate that you would be gaining money with the market or some sort of assurance.
Regarding about the question if its worth then it does depend on circumstances.
All of the things you have mentioned? I guess he can.
Here's why:
Hi Rengga Jati i am selling an acis miner that i have and some expensive hearing aids that i also have, Plus my job offers extra income as well. i feel covered.
I think taking a loan to invest in a highly volatile asset won't be that bad as long as you guarantee a profit by not selling when the whole crypto market bleeds red.
Some people are taking up loans to accumulate more coins while It's still in the correction or consolidation period.
As long they're able to cover the loan in their own pocket not relying the repayment from the investment's ROI.
May 12, 2021, 05:53:52 PM
I am absolutely against this idea. Investing with a loan is very risky and not something I can do at all. You should not take a loan and take this risk. likewise, I oppose those who sell their houses and cars and make investments. After the house / car is sold, no investment is made. A car or house is purchased with the money earned after the investment is made. If you are going to take out a loan and invest, this means you do not have enough capital. So don't risk yourself with money that isn't yours.
May 12, 2021, 05:37:29 PM
Hi Rengga Jati i am selling an acis miner that i have and some expensive hearing aids that i also have, Plus my job offers extra income as well. i feel covered.
May 12, 2021, 05:32:27 PM
Personally, I will never take loans or even suggest others to take loans for crypto or buying Bitcoin at this stage. This is so risky. We can consider the risks carefully, the worst risk that we may get is about losing all our money and also should pay for the loans and its interests. Hopefully you are not in FOMO that makes you want to take loans for buying some BTC. If you are really ready for the loans, it means that you really ready with the risk and also you must also have your own backup plans if you are losing, what you will do to pay the loans
May 12, 2021, 05:19:16 PM
So i decided to take a 5000 dollar loan out at celsius wallet instead of 15000, it just works better for me 15000 was being a little too ambitious i think now in hindsight i am comfortable with 5000 instead. Yes its for 1 year at 1 percent so the interest will be very mininmal at 50 dollars for the entire year which works out to about 4, 70 a month and thats fine by me. Celsius has a clause were you dont have to wait until your contract is up to pay the principal back you can pay it earlier if you want to. Should things go south drastically i do have emergency back up funds to bail me out so thats pretty good too. All in all i feel pretty good about this transaction but now what left for me to decide is where to invest this 5000. i have a few coins i am thinking about and i decided against going all in on bitcoin. the coins iam looking at are ethereum, ada, and chainlink. i thought about going all in on ethereum to regain the full ethereum coin i had but sold earlier this year or spliting it up amongst the three, what do you guys think i should do thanks
May 12, 2021, 04:02:55 PM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
Yes, that would be really foolish. Don't take loans to make risky investment. Remember the golden rule? Invest only what you can afford to lose. Can you afford to lose the loans you have taken? How will you be able to repay it? And the price has already gone up. It's currently stable between $54,000 to $58,000. Even if it goes higher, I doubt its going to jump much. So, the risk is not worth taking. But if you really want to risk it, then go ahead. But make sure you have a backup plan.
May 12, 2021, 04:00:58 PM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
for now I don't know about crypto-supported loans and how the agreement and payment process procedures are, I don't understand about loans supported by crypto. At this point, what I have in mind is that the payment process will be more expensive if the bitcoin price goes up and the installments will go down if bitcoin also decreases, sorry if my opinion is wrong.
I suggest borrowing is better at a government bank because government banks have licenses and we are safer from fraud.
May 12, 2021, 03:16:50 PM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
It is better not to rush to take loans when the market is bullish because there will be a high risk of loans to be paid, it is highly recommended to take loans in stable coins because they are not tied to market conditions. 
May 12, 2021, 02:47:12 PM
When you take a loan with cryptocurrency, not stable coin, you have double risk of liquidation
- Risk of the cryptocurrency you use to make your loan (as a collateral). Its value can be decreased that cause your margin trade will be more easily to be liquidated
- Risk of the cryptocurrency you are in trades will decrease.
- In worst case, you will have double decreases from your collateral and the coin in opened positions
- Make sure you don't use more than 10% of your capital for loan, and margin trades
- Read Differences Between the New Isolated Margin Mode and Cross Margin Mode, then choose one type that fits your need and your risk management
This is on point and also I don't know how these loans work, are they fixed terms or can you return the loan earlier? Otherwise there is also liquidity risk if you are sitting on the loan that you would like to return earlier because you can afford it but you can't because of agreed upon fixed return terms. Flexibility in returning the loan is one condition I would want to have included in the loan contract.
May 12, 2021, 02:13:35 PM
If you buy bitcoin this will be fulish other coins give much better roi for this bull market
May 12, 2021, 01:33:22 PM
Will the loan have interest or will it increase when you payed it past due? If yes to the both then I would suggest that you shouldn't be taking out loans because the prices are really on a limbo right now to consider doing a loan to get more bitcoin, maybe if it is your money there will be no problem and always remember that loans aren't your friend, they were loaned to you for a reason.
I want to know what do you borrow Bitcoin for while the crypto market is bullish? If you want to make more money, there are many ways. When borrowing you must clearly understand:_ You have to pay interest regularly every month.
_ When the Bitcoin market drops you still have to pay the exact amount you borrowed initially.
_ You will have trouble paying the loan overdue.
May 12, 2021, 01:10:30 PM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
the question is where do you what to take a loan here in forum? For sure no one will accept your application unless if you show some poof how you can pay it. If it's not here then as is its very risky to do because bitcoin right now is so unpredictable and not really safe to enter especially if you don't know how to handle the situation.. If i were you educate your self first and don't be greedy because of the results nowadays.. Wherein always be smart and make sure once you enter again in it you can avoid the common issue why mostly newbie always give up especially because of being lacks of knowledge .remember that mate. 
May 12, 2021, 12:56:32 PM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
Consider these things first;1. Can you repay the loan?
2. Dont depend on crypto earnings on repaying a loan
3. Can you accept the interest and pay it on time?
4. Dont anticipate that you would be gaining money with the market or some sort of assurance.
Regarding about the question if its worth then it does depend on circumstances.
May 12, 2021, 12:50:46 PM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
In my opinion, you should not borrow cryptocurrency while the price increases like this. First you need to identify a few problems:1. If you borrow at this time, interest rates will be high. So when do you pay off your debt? When you take a risk, you still accept it without regrets.
2. More importantly if you borrow Bitcoin in the meantime. If the benefits outweigh the possible risks, it's up to you to decide.
May 12, 2021, 12:03:38 PM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
I don’t think getting loans to cryptocurrency is the best option right now. I would say, it is not an option and I hope that you find alternatives.I have sets of friends that have been suffering from their existing loans because of the poor decisions they had before. Imagine loaning Bitcoin amounting to around $500 during the bear market? Now look at them, they find it really hard to bring back what they borrowed as the Bitcoin went up crazily.
Bitcoin today is expected to rise up until the fourth quarter of the year. So taking loans on this period of time is not a very good idea.
May 12, 2021, 11:49:24 AM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
Depends on how much you can risk on or on how you would able to handle it out.If you do able to repay those interest without relying into those bitcoin earnings then i think it should be finebut if you are relying into those profits for you to repay then i would say that its already a bad idea which you shouldnt consider to proceed on but actually this is your choice
because you are the ones will really be paying off those loan but if you do look that you are in doubts then better not to take a loan but rather save up instead before making investment.
May 12, 2021, 11:46:24 AM
In my humble opinion, loans in general are not a very good thing, and if we talk about such a highly risky market as the cryptocurrency market, even more so! It's one thing when you risk your own "free" money, that's okay, but when you borrow money at interest (these are already risks), then you take on two risks at once. I think this is a dangerous tactic and more often than not, this does not end well. Therefore, I would not recommend doing this.
May 12, 2021, 11:42:20 AM
Personally, I wouldn't go the distance to take out a loan in cryptocurrency, especially in crypto's current state wherein it is experiencing unprecedented gains for a year now. There has to be an end to this current term, and no one knows if it occurs tomorrow, the next day, or even next decade. If you really are interested in loans to increase your crypto portfolio, perhaps taking out fiat to buy crypto is the way to go. No additional mix-ups, just flat out borrowing fiat without any complicated computations along the way. Then again, loans of this type is too risky to even consider, so think a lot of times before pursuing this plan.
May 12, 2021, 11:39:14 AM
I think it’d be more advisable to take a fiat, bank loan. Buy bitcoin & HODL until late 2021. The price is going to probably treble so you could easily pay the loan back & make loads of profit too, easy money.
May 12, 2021, 11:33:04 AM
Why don't you use your current funds to accumulate your bitcoins? Learn for yourself in advance how successful you are with trading.
Regardless of the market situation, it is not recommended to take out a fluctuating loan for an unsecured profit.
Regardless of the market situation, it is not recommended to take out a fluctuating loan for an unsecured profit.
May 12, 2021, 11:30:58 AM
I would never consider taking a loan to invest in crypto or in an asset in the traditional financial markets like stocks or gold. Instead, use some of your savings and invest an amount you would be comfortable with losing. Worst case scenario, you lose your own money. It feels bad, but at least you don't own anyone anything. Think about it a bit. How would you feel losing $15.000 of your own money? If you add interest on top of that, it gets even worse.
If you are employed and have a steady income, put away some money from each pay check and invest it little by little in bitcoin. That's how I would do it, but you have to assess the risks yourself.
If you are employed and have a steady income, put away some money from each pay check and invest it little by little in bitcoin. That's how I would do it, but you have to assess the risks yourself.
May 12, 2021, 11:25:47 AM
Drop the idea. It is ain't good!
The golden rule is - "You invest what you can afford to loose and you invest only after full-filling your daily needs". Here you talking about the loan, which is not your money and in addition to that you will have to repay the interests rate plus principle amount. Dam, that would be worst decision.
With such high peak and volatility, my hands would be shaking to take the loans and invest. Big NO!
The golden rule is - "You invest what you can afford to loose and you invest only after full-filling your daily needs". Here you talking about the loan, which is not your money and in addition to that you will have to repay the interests rate plus principle amount. Dam, that would be worst decision.
With such high peak and volatility, my hands would be shaking to take the loans and invest. Big NO!
May 12, 2021, 11:12:39 AM
The thing with loan is that you need to be sure about repayment or you use a collateral incase you don't pay back. So, you need to guarantee the one giving the loan of prompt repayment, if you can't guarantee this, better not to take the loan. There is no guarantee your Bitcoin invest will be profitable for you to repay the loan.
A wise/smart borrower could however drastically reduce risk in different ways before taking the loan, one of which will be to automatically sell the Bitcoin holding if price goes down to certain level within 4 months, and he has to have extra money in savings to cover the small losses and pay back the loan.
A wise/smart borrower could however drastically reduce risk in different ways before taking the loan, one of which will be to automatically sell the Bitcoin holding if price goes down to certain level within 4 months, and he has to have extra money in savings to cover the small losses and pay back the loan.
May 12, 2021, 10:58:27 AM
Isn't it ALWAYS a foolish decision to try and take a loan to invest? Don't invest what you can't afford, that kind of thing is always said here and there. No it most likely wouldn't pay off, the market is cruel to everyone. Dunno much about crypto loans, but wouldn't it also increase in price depending on its market value? That might hit you harder. Plus if you did it once, you can do it again. Crypto is volatile enough ,meaning it's risky already, putting the odds against yours doesn't seem like a very good idea.
May 12, 2021, 10:54:19 AM
Taking a loan is always risky even in a normal circumstance, and it is even worse taking a crypto loan to trade, better you trade with what you can afford, nobody can tell the direction which the market can go, reason why it is difficult to outrightly tell yes go ahead and take a crypto loan, but it is upto you to do what you feel you can handle.
May 12, 2021, 10:35:34 AM
No, i think it really is a foolish decision. The risk is already high, don't need to add loan into this situation. You're not supposed to take a loan, no matter what, it's better if you don't have a loan in any condition, since it can be destructive at times.
You will just regret everything if things turn bad, and at that time, there's no way to go back anymore. Loan is dangerous, and especially if you're taking a crypto loan, with no certainty at all. It's more like gambling your life and money into it, which is surely not a wise decision to make.
You will just regret everything if things turn bad, and at that time, there's no way to go back anymore. Loan is dangerous, and especially if you're taking a crypto loan, with no certainty at all. It's more like gambling your life and money into it, which is surely not a wise decision to make.
May 12, 2021, 10:34:21 AM
Different cultures have different attitudes to loans, and it seems that the West is totally okay with those, but where I'm from people try not to take loans unless there's absolutely no other way. If you're thinking of investments, you shouldn't take money for that, especially to buy Bitcoin almost at its ATH point. It might go up, but it can also go significantly down. It's unclear from your post to me what you need the money for, but loaning money to pour it into something volatile is a very risky decision. If you're worried about BTC volatility but still want to take a loan in BTC, I guess you can agree to fix the amount in USD even though the payouts will be in BTC.
May 12, 2021, 10:23:26 AM
For now it's a little difficult to say: because we don't know the true Bitcoin ATH, the risk is of course there, back to your confidence in the loan.
Two things you need to know about the risks that will occur.
1. The news that we often read on various Bitcoin sources in the end of 2021 will touch the $ 100k mark, that's a prediction.
2. The same thing and the reverse of 2021 is a sign that the new ATH against Bitcoin is already at the peak, that is also a prediction.
From these two risks you can conclude about the 'loan' you want to make.
1. Your future confidence Bitcoin could touch $ 100k.
2. Your belief about Bitcoin is currently at the top.
Honestly, if that happened to me I would of course conclude that I took a loan and increased Bitcoin, at least the end of this year.
For that all decisions are in your hands in determining the risk of 'loan' that you take, think and be ready to take all the risks that will occur, if your decision is intact.
Two things you need to know about the risks that will occur.
1. The news that we often read on various Bitcoin sources in the end of 2021 will touch the $ 100k mark, that's a prediction.
2. The same thing and the reverse of 2021 is a sign that the new ATH against Bitcoin is already at the peak, that is also a prediction.
From these two risks you can conclude about the 'loan' you want to make.
1. Your future confidence Bitcoin could touch $ 100k.
2. Your belief about Bitcoin is currently at the top.
Honestly, if that happened to me I would of course conclude that I took a loan and increased Bitcoin, at least the end of this year.
For that all decisions are in your hands in determining the risk of 'loan' that you take, think and be ready to take all the risks that will occur, if your decision is intact.
May 12, 2021, 09:48:42 AM
Everyone has to decide for themselves, but I know there are still those who pay off debts from 2017/18 because they gambled with money that was not theirs.
Loans, borrowed money have invisible pressure that people are not aware of. Their minds and decisions will be distorted by invisible pressure. Bull or bear market (important note), it can always liquidate unwise and undisciplined borrowers.- They are greed, of course, if not they don't borrow and open leverage trades.
- They are gamblers, perhaps if they ask questions like OP.
- People will not stop and feel fear if they don't experience own loses
"What the hell I did? The market grows very crazy and I lost all or 90% of my capital. If I had neither been greedy nor used leverages, I would have been billionaire"
May 12, 2021, 09:41:14 AM
It is no secret or great wisdom that it is not wise to invest money that you are not ready to lose, or money that is borrowed - and in this case the situation is even more risky because it is a cryptocurrency. Although the prevailing opinion is that the bull market will most likely not be completed at least until the end of this year - would anyone bet on that outcome with borrowed money?
Everyone has to decide for themselves, but I know there are still those who pay off debts from 2017/18 because they gambled with money that was not theirs.
Everyone has to decide for themselves, but I know there are still those who pay off debts from 2017/18 because they gambled with money that was not theirs.
May 12, 2021, 09:15:07 AM
Will the loan have interest or will it increase when you payed it past due? If yes to the both then I would suggest that you shouldn't be taking out loans because the prices are really on a limbo right now to consider doing a loan to get more bitcoin, maybe if it is your money there will be no problem and always remember that loans aren't your friend, they were loaned to you for a reason.
May 12, 2021, 08:53:40 AM
When you take a loan with cryptocurrency, not stable coin, you have double risk of liquidation
- Risk of the cryptocurrency you use to make your loan (as a collateral). Its value can be decreased that cause your margin trade will be more easily to be liquidated
- Risk of the cryptocurrency you are in trades will decrease.
- In worst case, you will have double decreases from your collateral and the coin in opened positions
- Make sure you don't use more than 10% of your capital for loan, and margin trades
- Read Differences Between the New Isolated Margin Mode and Cross Margin Mode, then choose one type that fits your need and your risk management
May 12, 2021, 08:43:57 AM
If you are afraid of taking loan in Bitcoin due to its price that may increase, then go for fiat-pegged coins like USDT, BUSD or USDC and the likes.
May 12, 2021, 08:41:41 AM
I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
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