Topic: Would you borrow in cryptocurrency? (Read 42378 times)
Adoption in cryptocurrencies is not viable as a someone buoy refer to or credit a currency that is loss to breakthrough in cost in the closest forthcoming unless the adoption is finished with stablecoins. Nevertheless when adoption is finished in cryptocurrencies what desire your confirming desire be victimized to rise in example of you sacrifice of the this have in mind that thither has to be a communication between crypto assets property and valid being assets property representing this sort of development to be potential.Additionally thither are yet not adjustment in position to let this to be potential so thither is yet a extremely continued method earlier adoption in cryptocurrencies buoy be potential.
I victimized to accept in designation of bitcoin from my familiar. As of instantly this isn't usual as humans aren't even recognized to the equivalent. In next age buoy have economic utility with the adoption accession in cryptocurrency. Already we've got analogous utility with excellent confirming on cryptocurrency and coins.
To borrow in cryptocurrency is a very dangerous thing. Due to the fact that the price of all coins is changing rapidly, many companies have refused to lend in cryptocurrency. Once I borrowed ethereum from a friend. I was lucky because when I gave it, it fell in price by almost 2 times. But it was risky because now it has grown 3 times and I would have to give in dollars more than when I borrowed.
borrowing in cryptocurrency is like a lottery - you may win with the exchange rate if the price goes down and may lose if it rises.
My opinion is that clearly, borrowing is the name of create tension. So l advice to all to avoid for borrowing from any institution,even maybe crypto currency. I think so .
Its really risky to borrow crypto . I can give you example , let says you would like to borrow 1 BTC ( At the time of borrowing it cost 8k USD per coin ) so you thinking ill probably pay off from my wage in 3-4 months and take out loan . There is really big chance it can go to lets say 40k-50k in 1-2 months and then how you will be able to pay out the loan then from you wage ? Depends ofcourse how much you are earning , but i would not suggest to do that . Ofcourse if you need to pay back in USD value at the time of loan approval then its fine i guess , works as normal loans out there
Why not? It is a easy way how to get money but you do not want to loose your cryptocurrencies.
Imagine that you need to pay bills. You will get 250$ for 1 Ethereum. After a year you will pay a debt and you will get 1 Ethereum.
Imagine that you need to pay bills. You will get 250$ for 1 Ethereum. After a year you will pay a debt and you will get 1 Ethereum.
Loans in crypto are still considered by many people, I think a lot of things before making a loan such as interest and time that can cause the loan amount to increase if it exceeds the agreed deadline.
I think crypto loans are safe because everything will be stored in the blockchain but the value that keeps changing can be a consideration to borrow in large quantities
I think crypto loans are safe because everything will be stored in the blockchain but the value that keeps changing can be a consideration to borrow in large quantities
I am interested in opinions about borrowing in cryptocurrency.
If a cryptocurrency will have low price volatility, then would you borrow in that token?
If not please tell why?
If a cryptocurrency will have low price volatility, then would you borrow in that token?
If not please tell why?
I have done it (with volatile crypto) and regretted it. You'd be luck if the price decrease but if it did increase, you might be paying twice of what you've taken after a few months.
But with the emergence of Stablecoins, it's been easier to take and give loans based on the stable coins. You can be sure about the price and get a better rate than what you would have got from the bank.
at this time I have not bought any crypto, even though the price is experiencing an upward trend, but this position I think is still vulnerable to all in
I would not risk at all with any loans and borrowing money or cryptocurrency. This is very risky in the first place because there is a chance that you will not be able to give up or the rate of cryptocurrency will grow so much that you will give your money all your life.
When I refer to, I normally accept representing continued designation. And so reason would I accept crypto, which on continued designation should breakthrough in measure, when I buoy take in rescript, which measure reduce in age?So no, I assume 't take crypto, it's poor occupation.
I think there are risks in borrowing in cryptocurrency because your debt might blow up. Never consider it and just consider buying it at low and selling it at high because you want to profit from it instead of borrowing money because of some emergency situation.
I do not think that borrowing in cryptocurrency is the right decision. The volatility of the cryptocurrency space is high, with the exception of stable coins.
There are already tons of projects on the market that are offering such an opportunity. NEXO and Moneytoken are the most popular examples and it seems like people are actively using those services, so yes it works.
I get never borrowed exploitation cryptoqurency, this non-standard in captivating on the other hand whether we anticipate backbone above price and representing turn back it sound to be bigger than the measure of adoption. exactly possibly I desire try added age, representing the age existence I am many fascinated in assembling grant coins and inactivity representing the marketplace to develop.
I do not have any plan to borrow in cryptocurrency because the crypto prices is very high volatility and maybe you can encounter high risky at any moment, we can have any gurantee if the crypto we borrow will be rising up their prices in the future.
I am interested in opinions about borrowing in cryptocurrency.
If a cryptocurrency will have low price volatility, then would you borrow in that token?
If not please tell why?
I would borrow a person with crypto coins but only with a smart contract. It is good to be careful no matter how close that person is to me. If a cryptocurrency will have low price volatility, then would you borrow in that token?
If not please tell why?
Instead of thinking of borrowing, I think its better one works for his money. There is room to gather wealth in cryptocurrency instead of thinking of how to borrow. If one is diligent enough to be hard-working, doing all the stuffs that will guarantee success in cryptocurrency; most especially, learning new things daily and not being lazy about what is learnt, wealth is certrain.
The token price is easily subjected to change and very risky. If you decide to borrow money in a Cryptocurrency form you should consider well. But I better use my personal funds to buy crypto coins. And in my opinion, this is without the burden of mind because money is not the result of lending.
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