Would you borrow in cryptocurrency? - page 20.

levvv

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Quote from: maxitdev on April 07, 2019, 08:53:42 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?

There are several cryptocurrency that have low volatility price, for example USDT.
I think we can borrow in cryptocurrency in USDT, your borrowing value won't decreasing if crypto market goes down.

sabine80

member

Activity: 728

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borrowing in cryptocurrency is not an option for me as the prices fluctuate too much. the risk would be just too big for me, that i have to pay much more back (calculated in normal money), as i borrowed.

Wale777

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I don't really know how that works and what type of framework put in place to facilitate borrowing of Crypto and if at all its going to work it will be more rational with stable coins like bitcoin and ethereum or bitcoin cash

CleverOracle

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BBOD - The Best Crypto Derivatives Exchange

Quote from: ePesoInitiative on April 14, 2019, 03:58:50 PM

Borrow something that is very volatile? That's crazy. For example, you borrowed 1 BTC and then you get $3,000 for cashing it out. Now, you have to spend $5100 to buy BTC and return it. And we are not yet talking about the interest.

You are correct regarding the volatility of cryptocurrency but the OP is stated that what if there is a coin or token that has a low volatility or maybe a stable coin like Tether, would you borrow or not?

Osarman

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Quote from: toydoll on April 08, 2019, 08:01:45 AM

Quote from: maxitdev on April 07, 2019, 08:53:42 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 afraid of borrowing and try not to take them,and especially would not do it in cryptocurrency.it is not too stable and risky,took one amount,and will have to return another.

Is not it equivalent to getting funded by someone to speculate in cryptocurrency? I think it is and in my opinion, I would go for it particularly in the time when the market prices of Bitcoin are rising. If anyone is willing to lend me his coins, I would borrow it for sure and will return it after it is all time high in the market. If it was not all time high, I would at least give me some money but it is risky I know but worth going for.

Jackrodwell

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Quote from: Novatech8 on April 07, 2019, 10:22:31 AM

I haven't borrow any penny in cryptocurrency before and I think it will never happen because I have this bad gift that never I borrow from someone to even set up a business things will go bad so its not my way to borrow

I don't see borrow in this industry has a nice idea,because the market is very dicy and any can happen at anytime, in most cases cryptocurrency investment is a long term thing and not short term, if there is need for any one to invest is advised starting with your personal funds.

ameliana

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Quote from: Annalise24 on April 14, 2019, 03:18:59 PM

Borrowing is not good for whatever reason.
I will never support anyone to borrow and invest in Cryptocurrency.
It's a very risky venture.

but sometimes there are some people who can only go through that way to be able to start their business so that I think it depends on how things are.
but that doesn't mean if I say borrowing is good but in some conditions it's not too bad.

ePesoInitiative

sr. member

Activity: 924

Merit: 260

Borrow something that is very volatile? That's crazy. For example, you borrowed 1 BTC and then you get $3,000 for cashing it out. Now, you have to spend $5100 to buy BTC and return it. And we are not yet talking about the interest.

renault18turbo

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Everyone makes his own decision about investing. Just one rule should be taken in consideration - invest only those money that you can loose without crying of it.

Horas1976

jr. member

Activity: 406

Merit: 1

I have no reason to borrow crypto, so I don't borrow it. Borrowing crypto is very risky so it will be a heavy burden if all of it is lost or cannot manage it.

yslyv

hero member

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It is risky here. You told if the volatility is small. But there is any coin that gives guarantee of low volatility. Even tether can drop down. It is possible.

Annalise24

copper member

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Atronocom

Borrowing is not good for whatever reason.
I will never support anyone to borrow and invest in Cryptocurrency.
It's a very risky venture.

BitFinnese

copper member

Activity: 1050

Merit: 500

As much as possible I would avoid borrowing in cryptocurrency for a single reason. The volatility. Even though it is that low, the possibility of an altcoin to spike more than 100% is very possible. We borrow token because we currently low at it and possible to sell it for fiat money, so when it spike more than 100% it will definitely make it harder for us to repay it, and if we failed to pay it, our reputation suffer.

pushups44

sr. member

Activity: 854

Merit: 281

As a general rule, borrowing is bad, especially in or for cryptocurrencies. During the bear market, many people who took out loans to invest in crypto defaulted on their loans, thus ruining their credit history and lives. Some businessmen will take a loan denominated in a cujrrency they believe will fall relative to another, but this is the exception rather than the rule, and is done with careful consideration.

mattadc

member

Activity: 426

Merit: 10

I would advise to just trade cryptocurrency. Unless of course you understand this. But in any case, you can choose the way that you like. Now trade is the most profitable thing that really brings money.

Xenrise

sr. member

Activity: 672

Merit: 251

Quote from: ?? on ??

I don't want to do KYC to borrow some some cryptocurrency. This site has high interest on this currency even low price.

What site are you actually talking about? As far as I see in this thread there is no site stated on OP and no site was quoted by you by any user.

. But if you will borrow cryptocurrency, of course you need to do KYC(if needed) it's because KYC is important for those lenders to secure their money in return.

WatchMaker

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PUFFY FINANCE

Quote from: maxitdev on April 07, 2019, 08:53:42 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?

Borrowing crypto is for higher forum members not newbies and Jr. members. How to do intend to pay back the loan anyway? You need to get higher ranks before asking for a loan.

syamster

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Activity: 1078

Merit: 501

Quote from: Adriano2010 on April 09, 2019, 09:48:21 PM

Maybe yes, if i can get some profit, but is hard these days to know if is possible to get back funds or they are lost, but to borrow on a bank in crypto we will don't see soon that option.

If it is good to make this as you business or if someone becomes agree to give you return you can think about it but I think it is hard to trust someone in this matter of currency and borrow in crypto currency. Actually people are now so clever they want crypto but sharing their profit, I think it is better hold your own.

adterna

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Activity: 1036

Merit: 10

I personally do not really like the loan, because the price of cryptocurrencu is very volatile, if we borrow when the cryptocurrency price is high, and a few days later the crypto price decreases, then we will get a loss, so if I suggest we invest our funds first first, even though our funds are small but that is our own funds.

Esterklu

member

Activity: 728

Merit: 10

I do not see the stability market that would allow me to say yes. The risks that debt will grow many times over a short period of time is too great. The idea is good, but for the future. Today my answer is no.

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