Well personally I am not an risk taker when it comes to money so I would never even try to do what you are doing. I've got friends who do that and 50% of them have done really well from borrowed money. Couple of them are are now really rich. I am not talking about crypto sphere but my friends deal in different markets like stocks, property, land, commodity etc.
So it is generally up to how much risk you can take and reward compared to the risk. Most of the people wouldn't take a risk and would advise the same.
You already made 31k profit so that is really a good start. I wish you a good luck.
Topic: Would you draw on a line of credit to buy altcoins? - page 2. (Read 168 times)
Depends on how big a problem it would be for you to lose 250k. If you have 250k credit you probably already have a decent amount of money somewhere.
I don't think the altcoin season is going to last forever, in fact, it could do a 180 degree any moment. Look at reversal on the charts around 10 December, the opening of the CBOE futures.
I don't think the altcoin season is going to last forever, in fact, it could do a 180 degree any moment. Look at reversal on the charts around 10 December, the opening of the CBOE futures.
I can afford to lose 100k, although I wouldn't be happy about it.
All the financial advisors that I've seen are saying that no one should put money into cryptocurrency unless you can stand to lose it all. In other words, treat it like gambling in a casino. Matter of fact, most casinos offer lines of credit but the only people that gamble with credit in a casino are people with an addiction problem.
Depends on how big a problem it would be for you to lose 250k. If you have 250k credit you probably already have a decent amount of money somewhere.
I don't think the altcoin season is going to last forever, in fact, it could do a 180 degree any moment. Look at reversal on the charts around 10 December, the opening of the CBOE futures.
I don't think the altcoin season is going to last forever, in fact, it could do a 180 degree any moment. Look at reversal on the charts around 10 December, the opening of the CBOE futures.
I have a line of credit through my bank, 250k. The interest is 6%, settled monthly. I've been considering drawing 100k to purchase more altcoins. Bad idea or potentially genius?
Currently have 25k in the market with a 31k profit, timeline about 45 days. I put another 25k in yesterday.
And what coins would you buy?
Currently have 25k in the market with a 31k profit, timeline about 45 days. I put another 25k in yesterday.
And what coins would you buy?
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