Bit/alt coins over my credit and take a $25,000 loan at a 20% int. Rate????????

[Camelintotheoasis]

So obviously I don't have the best credit but I believe that taking out a $25000 loan @ a 20% interest rate could be the smart thing to do since I don't have money to invest... How would you deversify $25000 portfolio w/ bit and alt coins? What legal implications could be of result of not paying my loan as I wait for bit and alt coins to go up??? I feel as if this is the smart thing to do? Your opinions please??

[steadyrice]

This is definitely not a smart move. You never invest with loaned money. Crypto is a very volatile market and you never know what's going to happen. As a golden rule, you should invest an amount of money in crypto which wouldn't hurt you financially, if you lost all of it. In the case of loaned money, this amount is $0.

[adriaymati58]

I wouldn't do that if I were you. The golden rule is to invest what you afford to lose. If your investment doesn't succeed you will end up worse than you are now. You should invest a small amount each month and that will keep you relaxed. When you are relaxed, you prosper, but when you are stressed out you tend to make bad decisions

[soham]

So obviously I don't have the best credit but I believe that taking out a $25000 loan @ a 20% interest rate could be the smart thing to do since I don't have money to invest... How would you deversify $25000 portfolio w/ bit and alt coins? What legal implications could be of result of not paying my loan as I wait for bit and alt coins to go up??? I feel as if this is the smart thing to do? Your opinions please??

It's the most dumbest move I have ever seen by any crypto enthusiast. 20% interest!! Are you serious?? Have you ever think of the implications it can bring in your financials if you don't repay the loan. The harassment of collection agencies are one thing, but your credit rating will be doomed and you won't be getting loan for any future purpose. I believe that crypto investment can fetch you much higher return, but crypto market is a very liquid market and anything can happen at any time. You may make profit of well above 50% and you may loose all at the blink of an eye.

If you have already taken out the loan, then invest heavily in bitcoin, like around 50% of the total amount. Then diversify between Ripple, ETH, Zcash and Monero. These altcoin prices are down since last few days so it can be proved as a good investment for future. But if you haven't already taken the loan, please cancel the application.

[hugeblack]

So obviously I don't have the best credit but I believe that taking out a $25000 loan @ a 20% interest rate could be the smart thing to do since I don't have money to invest... How would you deversify $25000 portfolio w/ bit and alt coins? What legal implications could be of result of not paying my loan as I wait for bit and alt coins to go up??? I feel as if this is the smart thing to do? Your opinions please??

cryptocurrency is a risky investment and invests 25,000$ loan with 20% in cryptocurrency is just GAMBLING.

if you don't have money to invest start working hard and invest in less than 1$ coins.
it is an only risky thing and so away from being smart.
Back money and work hard.

[killthebanks]

Don't listen to these muppets..... I charged up $60,000 on credit cards and used 0% APR promo rates. I got in crypto around December 2016.

I would have been a muti-millionaire already if I had strong hands and just HODL .... but I was trading trying to make more money faster and got greedy. But I am still happy to be 1000% in profit so far.

It takes big balls to do it though, and I still continue to pay my credit cards each month.

[cryptocurrencyguru]

Taking loan on credit card or house loan is extremely risky with bitcoin and cryptocurrency nobody knows what will happen next movement with crypto market u may end of loss when alt coins go down so it is better to invest what u can afford to lose

[offthecuff]

This seems like an immensely bad idea to me, never invest what you can't afford to lose, no one knows what's around the corner. Save what you can and invest wisely in smaller coins with good potential. If you do this then you should be able to build yourself a good fund without saddling yourself with loads of debt.

I can't stress enough please don't get a loan at a rate like that to invest.

[Pekine]

Don't do it. Only invest money you can lose.

[HG_Lincs]

I'll give you a half assed answer because you took a half assed approach to getting that money and took a half assed approach to finding out how to invest your money.

15%
20%
-Remainder

You can figure out where those %'s should go.

[Edit]
Actually. For another 10% over 3 months. I'll invest it for you.
It's about the best you'll get when asking a bunch of internet people how you should invest a bunch of cash you can't even afford.