Topic: Would you borrow in cryptocurrency? - page 23. (Read 42438 times)
Depends on what you gonna do, if you betting against the price make sure it's worth your judgement as fiat/crypto are extremely volatile, like how margins could benefit you by effectively borrowing you more than your investment, its easy to go boom with all your investment ending up getting nothing
It will be a bad option to borrow in cryptocurrency. The volatile nature makes it a bad idea. You could borrow $100 and you will end up paying like $500 in return. But on another end, the person who lend you the cryptocurrency might lose the initial value which he/she lend to you.
The interest rate will certainly be high because this space is not stable as it comes with plenty of risks. You may end up spending your whole money on the even of default
Crypto borrowing is very risky because it has high fluctuations. So, I don't recommend that. If you really need capital and you have no choice but to find a loan, it's better to borrow it in fiat, it's safer in my opinion.
As long as there is some asset - liabiliity management, I would borrow or lend in cryptocurrencies. Remember to hedge your exposure though.
I am not considering borrowing any crypto as it is highly volatile and I could end up in a loss.
Of course it depends on the market type as well, but it would be a risky business.
Only stable coins could play the role of safe borrowing and lending.
There are many lending projects out there and will check how they operate.
Of course it depends on the market type as well, but it would be a risky business.
Only stable coins could play the role of safe borrowing and lending.
There are many lending projects out there and will check how they operate.
I think it's one of the reasons why crypto would not stand alone without the help of fiat currency. As we can see we do trades crypto in such products and services because we know there are merchants who accept it as a payment and cash it out with fiat currency.
So you guys think cryptocurrency would stand alone without a fiat currency?
So you guys think cryptocurrency would stand alone without a fiat currency?
I think we won't need fiat when the weakness of the cryptocurrencies will be sold.
Check the concept of Maxit at https://www.maxicreditcompany.com/whitepaper.pdf.
We try to solve problems like high price volatility or fixed money supply.
I think it's one of the reasons why crypto would not stand alone without the help of fiat currency. As we can see we do trades crypto in such products and services because we know there are merchants who accept it as a payment and cash it out with fiat currency.
So you guys think cryptocurrency would stand alone without a fiat currency?
So you guys think cryptocurrency would stand alone without a fiat currency?
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 see no point in borrowing a token. In real life, loans are taken to buy something.
The only reason you can borrow a token is that if you know that it will soon fall in price, you borrow it and sell it for Ethereum or other currency. The price drops, you buy the necessary number of tokens to repay the debt, and you keep everything else as a profit.
Actually, I started this topic cause we develop a P2P lending platform and a commercial platform where the borrowed money can be spent.
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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 see no point in borrowing a token. In real life, loans are taken to buy something.
The only reason you can borrow a token is that if you know that it will soon fall in price, you borrow it and sell it for Ethereum or other currency. The price drops, you buy the necessary number of tokens to repay the debt, and you keep everything else as a profit.
I do not recommend anyone loans for cryptocurrency. It's a new fashion, but I'm not interested in this option. To borrow for crypto is risky for both you and the borrower because the crypto market is extremely volatile, and the cryptocurrency fluctuation may not be favorable.
There is no suitable option for these loans. An unwritten rule says you only need to get into crypto as long as you allow yourself to lose.
There is no suitable option for these loans. An unwritten rule says you only need to get into crypto as long as you allow yourself to lose.
First and foremost, i didn't know is even possible in the first place. But, even at that, i do not think that is popular yet cos i have never come across it.. I see as an innovation that will enhance more adoption..
for now, I have never borrowed in crypto, but if the conditions are urgent, it will allow me to do it.
but I really hope if I never do it because I really avoid that kind of thing because it's very high risk.
but I really hope if I never do it because I really avoid that kind of thing because it's very high risk.
What if the cryptocurrency in which you can borrow have a stable price and the interest is lower than in fiat?
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I will not borrow crypto despite an emergency, I better avoid it and borrow it makes it a difficult step to make a profit.
If you borrow it becomes heavy and fears more than losing.
If you borrow it becomes heavy and fears more than losing.
I'm not going to borrow crypto unless I have a situation like "do or die". Becasue of the volatility, I fell the high risk of repaying a higher amount of crypto. But maybe I can consider if the conditions are made with fiat conversion but the transaction made in crypto.
in the short term I would not ask for a loan in cryptocurrencies, because volatility can play for or against, in the long term if (but it will depend on the cryptocurrency, that has a good project, product and community) ... although personally I like to borrow ...
No.
I will not borrow in cryptocurrency and it's never crossed my mind because I understand how this market works.
If care is not taken one might end up being bitten by the volatility of cryptocurrency.
I have a friend that borrowed to buy into a coin earlier this year and he lost 50% of the funds borrowed and he still pays interest on the money.
I will not borrow in cryptocurrency and it's never crossed my mind because I understand how this market works.
If care is not taken one might end up being bitten by the volatility of cryptocurrency.
I have a friend that borrowed to buy into a coin earlier this year and he lost 50% of the funds borrowed and he still pays interest on the money.
When you trade a short position, you take a borrow. In the event of a dump you earn. The same in the case of a loan. But who will lend you when the market is in a falling?
There were several blockchain credit projects. But now these projects are gone from a radar. Is scammers?
There were several blockchain credit projects. But now these projects are gone from a radar. Is scammers?
I think it is impossible to borrow crypto money. Because crypto is constantly changing and losing value quickly it has no stability. therefore you cannot risk the loan, its price is not sustainable.
What if when a cryptocurrency has a stable price?
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