Would you borrow in cryptocurrency? - page 18.

julius caesar

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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?

I am borrowing my initial funds needed whenever there comes a time that projects are entering the market and I see it promising. But considering the fact that there is no borrowing platform that I can trust, I rely on my friends, ask for their help and they are immediately sending me bitcoins and I repay them based on my profit.

Huntler1993

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Due to the high anonymity state in the crypto space you should always be careful with the things you involve in. Borrowing and lending might not be bad if we were all to be sincere to ourselves but how can we ensure that, so to prevent any misunderstanding just don't go for it.

nwosuchristabe2

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It's definitely not a good idea to borrow in cryptocurrency due to the inherent nature of the market and the fact that the amount borrowed could be difficult to repay. I remember bitcoin ones traded at $20,000 and some persons were expecting the value to increase above $50,000. Imagine, if someone has borrowed at the rate of $20,000 expecting the value to increase, so he can pay his creditors only for the value to be on constant decline since that period. In cryptocurrency industry, its best to only invest what you can afford to loose.

Ochakemaput

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Quote from: niisarearning on April 17, 2019, 07:48:40 AM

I personally not believing borrowing using crytpo currecny because of price volatility if it is like some tether stabel currency i would consider . there lots of lending platfroms . Ethlend is one of the famous among them . Currently i am not interested on borrowing crypto currency.

borrowing crypto is almost the same as an investment for me. but all depends on how the calculation, if calculated in the amount of fiat I think the calculation will remain the same. but if the calculation is the amount of crypto loaned, it can be an investment tool, where the value does not become a calculation but the quantity of the assets we borrow is considered.

niisarearning

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I personally not believing borrowing using crytpo currecny because of price volatility if it is like some tether stabel currency i would consider . there lots of lending platfroms . Ethlend is one of the famous among them . Currently i am not interested on borrowing crypto currency.

judyrob

sr. member

Activity: 798

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Borrowing tokens is not a good decision to make, the level of risk that we do may be greater if we are unable to manage it.
It is better to avoid borrowing tokens.

2Kool4Skewl

sr. member

Activity: 644

Merit: 250

I somehow do not see the point. Why borrow if you can trade and at the same earn. As it is not a very smart decision.

Pet240

jr. member

Activity: 486

Merit: 3

Instead of borrowing from any cryptocurrency platform, why don't you think of ways through which you can start small and build on what you have through trading and investment.
The resultant effect of borrowing is not always encouraging.

Caladonian

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Quote from: jossiel on April 17, 2019, 01:16:01 AM

Quote from: Beyerd17 on April 17, 2019, 12:36:42 AM

Quote from: jossiel on April 17, 2019, 12:31:27 AM

Quote from: renault18turbo on April 16, 2019, 04:33:58 PM

Crypto is not unpredictable in short term, so if you would like to borrow, then better to look for s long term like a year or two.

Before borrowing, think of it that the money you will use for buying crypto can swing from time to time. And as much as possible, not just a long term like around those years but you should be able to understand on what you are buying.

You mitigate the risk and you are dedicated with that decision because once the market dip, you may never know on how long you need to wait and when it will start to recover. These are the few points before borrowing and actually there are plenty of it.

Fluctuation risks could be at least somewhat mitigated by borrowing in a stablecoin or a basket of stablecoins. Maybe stablecoins are the future for cryptobanking. Who knows.

Yeah you can mitigate it that way but we are all in crypto because of the volatility, usage and the potential profit that we may get from accepting the risk of being volatile.

What would be the purpose of investing with borrowed or your very own money if you will just by stable coins? their value never change and you are likely to get exact amount with what you invested.

I don't see any good reason taking the risk without any expected outcome benefits, most of us if not everyone are aiming for potential profits so it's really about making money with your investment or even with the lend money that you will be investing inside this market, if you really believe and you have passions to learn more about this industry, borrowing money for the sake of much better results can be performed.

playboy654

member

Activity: 546

Merit: 32

I don't have the confident about borrowing something will not came to our life for a long time because it will not been involved any type of work from our side that's why I don't trust it anymore.

Matthias K.

newbie

Activity: 33

Merit: 0

When I borrow, I usually borrow for long terms. And then why would I borrow crypto, which on long term should increase in value, when I can borrow in fiat, which value decreases in time?
So no, I don't borrow crypto, it's bad business.

Levyathan

jr. member

Activity: 434

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What you mean? You asking for a loan? I dont think anyone would give you a single token even though it is not worth it. Undecided

jossiel

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Quote from: Beyerd17 on April 17, 2019, 12:36:42 AM

Quote from: jossiel on April 17, 2019, 12:31:27 AM

Quote from: renault18turbo on April 16, 2019, 04:33:58 PM

Crypto is not unpredictable in short term, so if you would like to borrow, then better to look for s long term like a year or two.

Before borrowing, think of it that the money you will use for buying crypto can swing from time to time. And as much as possible, not just a long term like around those years but you should be able to understand on what you are buying.

You mitigate the risk and you are dedicated with that decision because once the market dip, you may never know on how long you need to wait and when it will start to recover. These are the few points before borrowing and actually there are plenty of it.

Fluctuation risks could be at least somewhat mitigated by borrowing in a stablecoin or a basket of stablecoins. Maybe stablecoins are the future for cryptobanking. Who knows.

Yeah you can mitigate it that way but we are all in crypto because of the volatility, usage and the potential profit that we may get from accepting the risk of being volatile.

What would be the purpose of investing with borrowed or your very own money if you will just by stable coins? their value never change and you are likely to get exact amount with what you invested.

Beyerd17

full member

Activity: 826

Merit: 103

Quote from: jossiel on April 17, 2019, 12:31:27 AM

Quote from: renault18turbo on April 16, 2019, 04:33:58 PM

Crypto is not unpredictable in short term, so if you would like to borrow, then better to look for s long term like a year or two.

Before borrowing, think of it that the money you will use for buying crypto can swing from time to time. And as much as possible, not just a long term like around those years but you should be able to understand on what you are buying.

You mitigate the risk and you are dedicated with that decision because once the market dip, you may never know on how long you need to wait and when it will start to recover. These are the few points before borrowing and actually there are plenty of it.

Fluctuation risks could be at least somewhat mitigated by borrowing in a stablecoin or a basket of stablecoins. Maybe stablecoins are the future for cryptobanking. Who knows.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Quote from: renault18turbo on April 16, 2019, 04:33:58 PM

Crypto is not unpredictable in short term, so if you would like to borrow, then better to look for s long term like a year or two.

Before borrowing, think of it that the money you will use for buying crypto can swing from time to time. And as much as possible, not just a long term like around those years but you should be able to understand on what you are buying.

You mitigate the risk and you are dedicated with that decision because once the market dip, you may never know on how long you need to wait and when it will start to recover. These are the few points before borrowing and actually there are plenty of it.

renault18turbo

hero member

Activity: 1218

Merit: 500

Crypto is not unpredictable in short term, so if you would like to borrow, then better to look for s long term like a year or two.

Runbitup

full member

Activity: 700

Merit: 100

I don't really like borrowing so I won't borrow even though there are tokens that have dropped in value because they are too risky, because it makes me uncomfortable investing.

serjent05

legendary

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You mean borrow money to invest in a certain coin? Me no. I will not because first, I don't know what will be the future of the coin, second even if the whole world will be cheering in the success of the coin it can go down in any moment, third, there is no guarantee for any success in cyptocurrency. We all want to see our investment succeed and a lot are speculating success over it but it is not a guarantee it will. If I borrow for example $500 and buy some coins with all the amount and the debt I took must have a due date for payment and if in the said date I never recovered the $500 then I will not have money to pay $500 back.

ninja811

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Activity: 266

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At the moment, even under conditions of very high market volatility, I would take and continue working with cryptocurrencies.
They are very much included in the life of every person and improve it.
Behind cryptocurrency is a bright future.

baeva2

member

Activity: 728

Merit: 10

I wouldn't borrow in cryptocurrency because it's unpredictable. It can change because of various factors. You can either lose the price or win. This is a risk.

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