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Author Topic: Have you ever borrowed fiat to get btc?  (Read 1487 times)
ramgonzales
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March 13, 2018, 05:47:33 PM
 #361

No I don't want to do that with Bitcoin. I tried doing that for my small business before, got a loan from the bank to start a business, it turned out fine but it was not a good feeling knowing that the profit that you make will just go to the bank and their interest, it felt like I am working hard for my business for me to pay them, not a good feeling that led to burnout instead of me enjoying and seeing the fruits of my success. So now I decided not to do that here in Bitcoin especially that my brother said it is really volatile and unpredictable so I would just spend the money I have so whatever happens I can still handle it. I am positive with Bitcoin but playing it safe wouldn't hurt.

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March 13, 2018, 05:53:58 PM
 #362

Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.
Why are you guys asking like this. Are you mad now? Its good to trade or mine with your extra savings.Not with your property and borrowed fiat money.
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March 13, 2018, 05:57:07 PM
 #363

Never did that and won't do in the future. Investing in cryptocurrency must be made only with your own money.

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March 13, 2018, 05:57:46 PM
 #364

I really do like borrowing money. I like living with in my means . I will not advice you to borrow to start bitcoin as you can see the market is not stable . Use the little you have to start you do not have to start big.

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March 13, 2018, 06:03:08 PM
 #365

I hate having debts, so I only used my own accumulated money to buy bitcoin.

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March 13, 2018, 06:20:21 PM
 #366

I actually have never invested a penny of fiat in any crypto. I did some freelance work for which I got paid in btc and from then I started digging more into it and now I'm here, EARNING bitcoins rather than putting my own money in it. It's not that I don't believe in bitcoin it's just that I'm not willing to lose any of my earnings, be it in saving and growing it in the form of bitcoin! So, I just prefer earning it in my free time in any legal way possible.
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March 13, 2018, 06:20:42 PM
 #367

I have never borrowed money to buy Bitcoin, as I don't borrowing in general. Borrowing money makes me feel dependent upon others and instead I want to be fully independent. So if I can't pay for something, than I don't allow myself to have it. Although I wish I did borrow money for Bitcoin, when I bought my first Bitcoin it was actually a hundred times cheaper than today. But that's easy to afterwards, isn't it?

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March 13, 2018, 07:04:47 PM
 #368

Yes, I have borrowed money to buy crypto and it was a very, very good decision. I have paid back all debts and have a strong crypto portfolio, glad I made the decision when I did. It is a risky move and I don't recommend it, but if you were going to borrow money to get into crypto, now is a good time. Market went down a lot in January/February, it's bound to go back up soon.

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March 13, 2018, 11:21:52 PM
 #369

When I'm badly desire of buying bitcoin especially during the dips and I don't have spare to invest. I'm selling those things that I'm not in need anymore or I'm done using it like gadgets or any other goods that I can dispose. I don't want to borrow money even I'm in times of needs.



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March 13, 2018, 11:35:24 PM
 #370

No. I would never do that I am not desperate to the point borrowing someone else's money just to buy cryptocurrency and it is very risky since bitcoin is very volatile what if you are unfortunately bought bitcoin and the price goes down you will lose a huge amount of money and you will not able to pay your loan in time. I will borrow money when i need money or when i'm in emergency.

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March 13, 2018, 11:53:19 PM
 #371

Whilst i have never borrowed to get btc ive actually used monies that were given to me to buy appliances to invest in bitcoins , and so far it has been a wise move , i bought the bitcoins when the prices we way lower than what they are now so even though the prices have dipped i'm still operating in the profitable end of the scale .

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March 14, 2018, 12:29:35 AM
 #372

No! I didn't barrowed money to anyone just to get bitcoin. Theres more way to get bitcoin such joining the different types of bounty campaign i just need patience and wait for a few months.

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March 14, 2018, 12:37:03 AM
 #373

if do you mean is a loan from Bank?
I will not borrow money to the Bank for trading with bitcoin, because every month I have to pay the mortgage, especially if it is for investment, you should not use the money from the loan to invest bitcoin if you do not want the hassles
because you have to pay interest from your loan every moon

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March 14, 2018, 01:10:50 AM
 #374

no, never. It is too risky and wrong idea to borrow money to buy bitcoin or any investment asses such as stocks or commodities. These market is full of risk and there is a possibility to lose money. If you are not rich enough to invest, the best thing you will do is not to invest. You should get a job and find money, not borrow it.
I think different if you already have a lot of knowledge and have the skills to invest/trade in bitcoin, because the risks on the bitcoin market and borrowing money can be tolerated with the skills you have of course you can get a profit easily and pay off the debt with your profits. that's why there are many lending sites in bitcoin world included on the exchange site.

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March 14, 2018, 01:17:07 AM
 #375

In my opinion it's not good for you to borrow Fiat just to buy a bitcoin.You have just said that you are going to borrow for just another gamble. We know that you can be beaten because of the rapid and lowering of bitcoin prices. It's a  to buy a bitcoin from your own wallet but remember the rules invest only you can afford to lose.


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March 14, 2018, 01:21:26 AM
 #376

Yes I did borrowed fiat to buy bitcoin. Thats what I did when I started investing with bitcoin. After I started earning profit I payed my debt. I am glad I already payback my debt and now I don't owe anyone now. I think borrowing fiat is a good and fast way to earn profit as long as you pay your debt.

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March 14, 2018, 01:46:32 AM
 #377

Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

Well I borrowed fiat money once to buy bitcoin when I was just starting because I cant wait to have my bitcoin even if its just a bit. It is actually money for payment, I though I'd borrow it for a week or two to buy btc and then sell 2 weeks later when the price is higher. I got profit though, but its to small.

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March 14, 2018, 02:26:16 AM
 #378

For first timer like me I will buy bitcoin if I have excess money but  not borrowing money. I am thinking what if it will take time to earn in my investment.
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March 14, 2018, 02:40:46 AM
 #379

Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.
Yes I have experienced that I got a loan and I invested it in bitcoin after I have notices I have profit from it I sold my bitcoins. But I was wrong at that time I sold it because that time the price is still at 600 dollars. If I have hold it for long and wait for the price to hit at the top maybe I could have huge profit from it.

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March 14, 2018, 02:46:01 AM
 #380

I've experienced it, But it's just one time.
I saw because the price of bitcoins dropped suddenly and I had no money so I borrowed money from my friend.

And the bitcoins price has fallen somewhere so I can not pay,
So I'm not going to repeat what I'm doing, Because it's really risky and friendships are at stake here.

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