bakunawaaa
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Activity: 112
Merit: 10
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November 29, 2017, 11:51:07 AM |
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I would not reccomend this. This is very risky. First of all you should be considering the monthly payments you will be making. So not unless you already have a stable income to support your basic needs and pay for this loan monthly, yoh should not be considering this option. But if you can afford the monthly payments while still survive, then by all means please do. And please update us here in the forum about how you are doing.
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jacaf01
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November 29, 2017, 11:53:57 AM |
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I think it is foolishness to want to take loan to invest into crypto, there is no wrong in starting small, another thing to consider now is the interest rate you are going to use to service the loan. Just don't do it in my opinion
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Rahip
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November 29, 2017, 12:07:22 PM |
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The better you invest, the better you earn. it is important not to invest a lot
To analyze well and make the right investment
Your chances of winning are high, that's all
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qwizzie
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Activity: 2548
Merit: 1245
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November 29, 2017, 12:12:33 PM |
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Rule number 1 : only invest to the extend of what you can cope to loose.
Taking loans jeopardize that rule.
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Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
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jk_14
Legendary
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Activity: 1292
Merit: 1000
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November 29, 2017, 12:40:22 PM |
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Rule number 1 : only invest to the extend of what you can cope to loose.
Taking loans jeopardize that rule.
That's not generally true. Loans can be a great way to increase your liquidity. Whether or not a loan would end up a potential issue with "that rule" depends on the skills of the individual in question. |
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bribed
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November 29, 2017, 12:46:13 PM |
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I am considering taking a loan to buy btc and eth, is it a good idea? Because btc and eth always go up in long term. They never die. There seems to be a great chance of getting huge profit instead of losing money. A few years ago somebody in this forum asked others the same question and everyone told him not to do that, look at the price now. If that guy did, he would have been rich now. Nowadays the situation is not different, the price will continue to go up. I think people who invest more will earn more profit eventually. What do you think?
I would highly recommend not to do this! BTC and ETH are likely to grow, but nobody can know what is coming in 2018 and maybe they will crash and we all loose out. Crypto, also BTC and ETH, is still like gambling. The most important rule therefore is: only invest what you are willing to loose. If you take a loan and find yourself suddenly in a bear market and your investment halved, you could have made the biggest mistake of your life. Dont do that, its too risky. |
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lambofan
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November 29, 2017, 01:00:00 PM |
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I am considering taking a loan to buy btc and eth, is it a good idea? Because btc and eth always go up in long term. They never die. There seems to be a great chance of getting huge profit instead of losing money. A few years ago somebody in this forum asked others the same question and everyone told him not to do that, look at the price now. If that guy did, he would have been rich now. Nowadays the situation is not different, the price will continue to go up. I think people who invest more will earn more profit eventually. What do you think?
I would highly recommend not to do this! BTC and ETH are likely to grow, but nobody can know what is coming in 2018 and maybe they will crash and we all loose out. Crypto, also BTC and ETH, is still like gambling. The most important rule therefore is: only invest what you are willing to loose. If you take a loan and find yourself suddenly in a bear market and your investment halved, you could have made the biggest mistake of your life. Dont do that, its too risky. I think that I share the same opinion,although everything seems to indicate that the price will continue to rise as it has done so far it is extremely risky to invest through a loan,something can go wrong such as a change in prices to the contrary and you know that loans are in most cases with an interest rate so if something goes wrong you will not have a way to deal with such a payment commitment and the debt will become even bigger,however,everyone must use their own criteria and take their own decisions. |
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shulc7
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November 30, 2017, 08:41:37 PM |
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Do not do it ever! A loan is the last thing you should do if you want to start dealing with crypto. What if you make a mistake and make a wrong investment or buy an alt or BTC that will decrease? You will then have to pay twice, even three times (including %% from the loan).
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richan
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Activity: 392
Merit: 11
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November 30, 2017, 08:45:21 PM |
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Do not invest a money you cant afford to lose. PLEASE dont ever entertain that. Consider the loan payment you will be making every month and invest that amount in the Bitcoins.
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Pab
Legendary
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Activity: 1862
Merit: 1012
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November 30, 2017, 09:01:58 PM |
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Never do that,crypto market is totally crazy,if you will need money pay loans you will need to sell crypto with losses,there is also hacking in crypto etc never do that
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4k4
Newbie
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Activity: 14
Merit: 0
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November 30, 2017, 09:23:23 PM |
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Now let's speculate, as I'm doing a similar thing:
Say you have a stable monthly income of $3000 < your income which you are going to be paying for the monthly payments.
And you have more than the money you want to borrow already in a fund < your crash fund.
And you want to take a loan about $12000 to invest in your preferred coin.
The bank would ask, say $13000 for that loan, divided in monthly payments, at around $1080.
Given the scenario above, if you can be contend with $1920 income per month. Than I don't see why you can not make this work even if you suddenly become unemployed.
The discipline here is have enough buffer to tolerate risk of flash crashes like yesterday + not become greedy + follow the coin you had. For example, if you had a cold feet, simply sell your coins and sniff around a little before going back in.
Put stop loss orders and update it regularly to match to %20 of the current levels. < this is tricky. Exchanges tend to not obey the limits if a crash occurs. Simply because there won't be buyers at that level. This certainly complicates things.
Should a crash occur, try to buy at dips.
Don't spend the coin gains from the money you borrowed. Keep it in the system or in a separate account.
If you find your gains enough to stop the scheme, please do so. What's your target? I set my target to %50 gain, so as soon as I see that, I'd pay the loan early.
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nydiacaskey01
Legendary
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Activity: 1834
Merit: 1036
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November 30, 2017, 09:30:01 PM |
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I am considering taking a loan to buy btc and eth, is it a good idea?
Nope. Bad Idea. You have seen posts of those who lost 20%, 50% and up to 80% of their funds because they made a wrong decision in trading. Even if you say you only plan to buy BTC and ETH. We don't know what will happen in the next coming weeks or months. What if they are right that Bitcoin is a bubble, where do you plan to get the money to pay for the loan. Get a loan if you plan to set up a business that lets you earn money. |
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左
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November 30, 2017, 09:34:21 PM |
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I would never do something like this with crypto, you can easily get yourself into a debt by taking this approach.
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leynylaine
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Activity: 322
Merit: 15
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November 30, 2017, 09:40:30 PM |
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I deeply understand that you want to join the crypto hype but loaning money for you to invest in cryptocurrencies is a big no. It's a gamble, for real.
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﹏﹏﹋﹌﹌ WPP ENERGY ﹌﹌﹋﹏﹏ ☆═══━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═══☆ ≈ WORLD POWER PRODUCTION ≈ █ █ █ |
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luffare
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November 30, 2017, 09:40:48 PM |
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No, don't doo it! Never take a loan for investments. Yes, bro, take it, you gonna be reach, gonna but Lambo and all girls of your district gonna wanna only you.  OK, it was just a joke. In reality if you can make good predictions, can take a loan with low percents and you're in love with mathematics why not?  |
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Maren
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November 30, 2017, 10:03:44 PM |
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If you have no assets and find a bank silly enough to give you a loan, why not? They can't take your crypto away from you, so it's a win-win anyway it turns.
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AjithBtc
Sr. Member
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Activity: 1666
Merit: 276
Vave.com - Crypto Casino
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November 30, 2017, 10:15:58 PM |
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Taking a loan to invest or make an earning through cryptocurrency is same as that getting into gambling with an loan amount. You're not sure about the result, if lucky you get an earning with which you can repay the loan as well get a capital for further investment.
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dumplingsandsushi
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November 30, 2017, 10:40:43 PM |
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You really gotta think things through besides just, "Hey, if I would have put in money before, look where I would be now! That means that if I put in money now, I will be rich in a couple years!"
Here are some things to consider:
- If it's a personal loan, what are the fees, terms, and interest going to be? (what is the actual final price of what it will cost me?)
-To make a lot of gains in investing, you have to put in a lot of money, are you willing to enter a real life financial obligation for this?
-crypto only makes you money or makes you lose money if you sell or trade. So if you want to make back what you invested you will have to sell it off to pay off your loan and then you are left with very little capital to trade with.
- What other sources of income can I tap into instead of investing?
-And finally, why not just invest a little by little instead of one big chunk at a time? Build up your assets over time?
Good luck, have fun, but be smart!
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bitcointarget
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November 30, 2017, 10:42:17 PM |
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I am considering taking a loan to buy btc and eth, is it a good idea? Because btc and eth always go up in long term. They never die. There seems to be a great chance of getting huge profit instead of losing money. A few years ago somebody in this forum asked others the same question and everyone told him not to do that, look at the price now. If that guy did, he would have been rich now. Nowadays the situation is not different, the price will continue to go up. I think people who invest more will earn more profit eventually. What do you think?
This would be the worst thing you can ever do. Never invest in stock or crypto market with loan money. You can totally bankrupt and you can waste your whole life to pay that loan money. Always use your own money if you have. |
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vaso11
Full Member
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Activity: 322
Merit: 100
Deal Coin - P2P Lending Eco-system
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November 30, 2017, 10:43:31 PM |
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I am considering taking a loan to buy btc and eth, is it a good idea? Because btc and eth always go up in long term. They never die. There seems to be a great chance of getting huge profit instead of losing money. A few years ago somebody in this forum asked others the same question and everyone told him not to do that, look at the price now. If that guy did, he would have been rich now. Nowadays the situation is not different, the price will continue to go up. I think people who invest more will earn more profit eventually. What do you think?
You have to make a decision on this issue because it is very risky and at this stage I would not definitely do that |
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