Would you borrow in cryptocurrency? - page 10.

Beyerd17

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Quote from: MikeyVeez on May 12, 2019, 12:58:21 PM

It depends on terms of the loan, if you have to pay off debt in cryptocurrencies or in fiat currencies.
Imagine that you borrow in cryptocurrencies and pay for a mobile phone, then bull market comes and you have to pay for the mobile 5 times more Cheesy

.

Things like that would act as a deterrent for people to borrow cryptocurrencies. The only way that would be viable is if you make a deal for a set/fixed exchange rate BTC/fiat, so that one could avoid paying x times more (or less).

MikeyVeez

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It depends on terms of the loan, if you have to pay off debt in cryptocurrencies or in fiat currencies.
Imagine that you borrow in cryptocurrencies and pay for a mobile phone, then bull market comes and you have to pay for the mobile 5 times more Cheesy

.

olamidey

full member

Activity: 798

Merit: 104

Buy, sell and store real cryptocurrencies

Quote from: Mahanton on April 07, 2019, 08:08:43 AM

Quote from: maxitdev on April 07, 2019, 07:53:42 AM

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?

As a borrower you would really tend to borrow up tokens/crypto that is mostly on the top rank yet we do see the volumes of it.BTC ETH and other top coins might do but
for the rest then i dont think someone would really be interested.

As a lendor then you will always target out profitable coins for you rather than choosing low price tokens.

In borrowing in crypto, you have to be very careful. I for one will only advise you to borrow in tokens that are guaranteed not some random shitcoins. If you borrow in BTC and the price goes up, you're paying back in a higher USD value. Same goes for Eth and that's the problem in borrowing.
I know nexo does some form of borrowing but you have to have some crypto portfolio which it's total value is what will be used to determine how much you can borrow. It's a risky venture to me.

nerlial

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I would not borrow a cryptocurrency. In general, crypto is highly volatile and I think that it is not a good idea to borrow crypto.

Galley

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Being engaged in lending with such huge volatility, which is subject to cryptocurrency is a very adventurous occupation that serious people simply will not engage. The risks are too great.

kangkilokang

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Merit: 10

Revolutionizing Crypto Payment Solutions

borrowing Crypto currency, it will have a big risk so that before you borrow it you think well.
In my opinion, we may not need to borrow despite the shortcomings, because borrowing us will be uncomfortable because it will definitely make us think of returning money. while Crypto can change at any time so we think about it.

manismanja

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Activity: 518

Merit: 11

Quote from: Teknisi88 on May 12, 2019, 05:09:33 AM

Quote from: siglesias on May 12, 2019, 05:02:36 AM

Of course not, I will never borrow money in any form. There is no reason for me to borrow money and or crypto. Besides that, living full of debt will only burden me.

The words of debt are indeed unpleasant to read, especially if we have them, so it's better to live modestly without debt than we live in luxury while we are always chased by debt, and it would be great if you really want to avoid the debt .

besides that the risks that will be faced will be very large as far as possible stay away from loans from Crypto.
indeed, the need nobody knows and sometimes requires suddenly so that sometimes someone makes a bad decision by taking actions that can make us lose.

No One

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I really do not know how to borrow in cryptocurrency. I am however interested in it. In fact, I am in short of money, but want to buy some coins like binance coin, kucoin shares and prepayway coin. I have heard that coins can be borrowed. But how to make it? Can I get profits by borrowing coins? What are the ways to borrow? If you guys know let me know.

Teknisi88

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Quote from: siglesias on May 12, 2019, 05:02:36 AM

Of course not, I will never borrow money in any form. There is no reason for me to borrow money and or crypto. Besides that, living full of debt will only burden me.

The words of debt are indeed unpleasant to read, especially if we have them, so it's better to live modestly without debt than we live in luxury while we are always chased by debt, and it would be great if you really want to avoid the debt .

siglesias

jr. member

Activity: 173

Merit: 1

Of course not, I will never borrow money in any form. There is no reason for me to borrow money and or crypto. Besides that, living full of debt will only burden me.

Teawhalee

copper member

Activity: 482

Merit: 1

It depends although it’s not Good to borrow to invest in any coin. But it’s a risk that some people have to taken with great research before making final decisions. Personally I can borrow to buy a coin maybe top coins and not new Ico tokens.

Ayiranorea

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Leading Crypto Sports Betting & Casino Platform

Unlike the price fluctuation I will prefer borrowing in terms of cryptocurrency. I haven't borrowed tokens, most of the time the borrowing takes place between me and my friend. Here we borrow in terms of bitcoin, and while returning I used to return it in terms of bitcoin. Upon this even if there is some form of price variation there isn't any change in value. The same won't be that effective when it comes to business related borrowing.

Beyerd17

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Merit: 103

Quote from: Burogh on May 11, 2019, 02:35:10 AM

Quote from: Golftech on May 10, 2019, 02:00:19 PM

Quote from: madfox11 on May 10, 2019, 01:27:43 PM

Quote from: maxitdev on April 07, 2019, 07:53:42 AM

I am interested in opinions about borrowing in cryptocurrency.

People rarely borrow a crypto currency because of its crazy volatility, many tokens are vulnerable to unpredictable price fluctuations, it is too risky to borrow in a crypto market.

With that volatility you can't predict how your barrow crypto will be in returned, but not to convert it into fiat value it's still the same amount of crypto that you lend and you need to repay, if you'll going to use it to something that profitable like trading or investing to good project chances to grow that lend money is always possible.

I think this is like margin trading, we using leverage to buy more coin with small amount of money. If this is right, i think need more regulation because there is should be central office to process this transaction. Better use our own money we can afford to lose rather than borrow.

I would advice against borrowing in cryptocurrencies. The fluctuation risks are just too high. It's a shot in the dark at best. It's always a smart move to try to minimize the risk of borrowing, especially if it's a large amount.

Snowworker

newbie

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I foul achieve not look the location. Reason accept whether you buoy commerce and at the equivalent gain. As it is not a extremely smartness choice.

Burogh

member

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Merit: 10

COVIR.IO

Quote from: Golftech on May 10, 2019, 02:00:19 PM

Quote from: madfox11 on May 10, 2019, 01:27:43 PM

Quote from: maxitdev on April 07, 2019, 07:53:42 AM

I am interested in opinions about borrowing in cryptocurrency.

People rarely borrow a crypto currency because of its crazy volatility, many tokens are vulnerable to unpredictable price fluctuations, it is too risky to borrow in a crypto market.

With that volatility you can't predict how your barrow crypto will be in returned, but not to convert it into fiat value it's still the same amount of crypto that you lend and you need to repay, if you'll going to use it to something that profitable like trading or investing to good project chances to grow that lend money is always possible.

I think this is like margin trading, we using leverage to buy more coin with small amount of money. If this is right, i think need more regulation because there is should be central office to process this transaction. Better use our own money we can afford to lose rather than borrow.

Inendth

newbie

Activity: 59

Merit: 0

No single buoy forecast the forthcoming of cryptocurrency and all the more a particular disc. On the other hand I’m confident that it desire modernise and get disdain administration forbid. Then, I anticipate that no single desire consecrate out cryptocurrency gives.

jademaxsuy

full member

Activity: 924

Merit: 221

Yes of course, especially if it has low interest and the cryptocurrency is needed for ex. payments or other ways that it could put to a good use. BTC is one of the great choice to be borrow but as we all know also that there is no assurance that a borrower could return the BTC being borrowed if it has no collateral. This is why I do not think that borrowing cryptocurrency will be successful even if with escrow service.

Tohave

newbie

Activity: 38

Merit: 0

Whether i recognise the man who i am adoption to so exactly i would adopt any. Whether you signify representing yourself so you should view what choice you get and whether you buoy pament your obligation.

Siti Nurbaya

jr. member

Activity: 490

Merit: 1

If you borrow crypto, it doesn't seem easy, this will be a burden.
Learning to get not only by borrowing, but it is also better to give the energy to get wages with crypto so that we have better skills.
Moreover, bitcoin is currently showing positive and valuable points, it will certainly be more creative to continue working.

Doomfang

newbie

Activity: 36

Merit: 0

In my have conclusion, adoption in cryptocurrency is a NO NO. This place is greatly evaporable, unsteady cost etc, you never buoy separate what desire come to pass in the following minute. In as even as I buoy 't achieve it, I buoy 't buoy anyone to achieve either.

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