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Author Topic: Taking a loan to buy bitcoin  (Read 23322 times)
jk_14
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July 23, 2017, 08:20:41 AM
 #201

Taking up a loan for speculations is only worth it if the following conditions are met:

- There's a risk that you are willing to take on with your own money
- If you lose 100% of your loan amount right after getting the loan, you won't run into any financial problems

If both conditions are met, you can consider doing this, otherwise stay away.

Generally what you are thinking about is an arbitrage trade. You are hoping to buy money at an interest rate X (loan) and use it to make a gain of Y for a profit of Y-X times the borrowed sum. People do it all the time, but you have to know what you're doing and/or be completely certain that you won't fuck yourself over if you burn the whole sum.


     
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July 23, 2017, 08:30:46 AM
 #202

Taking a loan to buy bitcoin and profit is a good decision for those who cannot afford a good fiat to buy bitcoins. Same time it has got the increased risk, because if the user is unlucky due to fluctuations he might be not able to earn the right profit. This may lead to the pending of loan repayments causing the loss, better is to starting with small loan amounts to avoid big losses.



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July 23, 2017, 09:18:32 AM
 #203

Taking a loan to buy bitcoin and profit is a good decision for those who cannot afford a good fiat to buy bitcoins. Same time it has got the increased risk, because if the user is unlucky due to fluctuations he might be not able to earn the right profit. This may lead to the pending of loan repayments causing the loss, better is to starting with small loan amounts to avoid big losses.

Price fluctuations does not matter about the current situation. I would say that op has to wait till August 1st and then he can invest to buy the bitcoin as much he can. In normal condition. There is no issues to invest and buy bitcoin with the loan amount you have. It will give all interest you are paying to bank in couple of years.

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July 23, 2017, 09:37:50 AM
 #204

Taking a loan to buy bitcoin and profit is a good decision for those who cannot afford a good fiat to buy bitcoins. Same time it has got the increased risk, because if the user is unlucky due to fluctuations he might be not able to earn the right profit. This may lead to the pending of loan repayments causing the loss, better is to starting with small loan amounts to avoid big losses.

Price fluctuations does not matter about the current situation. I would say that op has to wait till August 1st and then he can invest to buy the bitcoin as much he can. In normal condition. There is no issues to invest and buy bitcoin with the loan amount you have. It will give all interest you are paying to bank in couple of years.

For me it's right that price fluctuatuon don't really matter eventhough your investment came from other loans. Eventually price increase will be doubled up for next coming months depending on the buying demand.

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July 23, 2017, 01:35:07 PM
 #205

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice
Loan for bitcoin? What are you a kind of sicko who is just wasting his money for assuming that bitcoin would reach 10,000$ and then you will be easily be able to pay the loan with interest if the bitcoin reaches the desired price. You should be way too confident because you think that you would be able to pay that loan back by having trust in yourself and Bitcoin at the same time.

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July 24, 2017, 10:52:19 PM
 #206

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice
Forget about it, you are asking for trouble, you may get lucky and make a ton of money or you could lose and get the biggest regret of your life.

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July 25, 2017, 04:43:34 AM
 #207

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice
Forget about it, you are asking for trouble, you may get lucky and make a ton of money or you could lose and get the biggest regret of your life.
I specifically went to banks and their credit, to earn without resorting to such services. That's why Bitcoin gives me this opportunity. And I see that people are still trying to continue to take loans and be in debt with banks.

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July 25, 2017, 05:40:40 AM
 #208

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice
Forget about it, you are asking for trouble, you may get lucky and make a ton of money or you could lose and get the biggest regret of your life.
I specifically went to banks and their credit, to earn without resorting to such services. That's why Bitcoin gives me this opportunity. And I see that people are still trying to continue to take loans and be in debt with banks.
Haha, not only take a loan to buy Bitcoin, some people after take a loan from bank, they still continue margin trading for Long or Short altcoin. I don't know the reason make them want earning money fast and become rich overnight, but do that very risk and their economic always threatened!



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July 25, 2017, 06:34:52 AM
 #209

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice

It is still best to invest money in Bitcoin which you can afford to lose. By loaning some money just to buy more bitcoin is very risky. If the price crashed for some reason and stayed there for a long time then you got a lot more problem. You'll have to pay for the loan and then gets very disappointed on bitcoin. However, if your speculation is true, then you are a lucky guy.

If you can take the chances then go on. No one has the right to stop your decisions.

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July 25, 2017, 07:16:16 AM
 #210

Taking a loan to buy bitcoin and profit is a good decision for those who cannot afford a good fiat to buy bitcoins. Same time it has got the increased risk, because if the user is unlucky due to fluctuations he might be not able to earn the right profit. This may lead to the pending of loan repayments causing the loss, better is to starting with small loan amounts to avoid big losses.

Its way to risky to take BTC loan just to get profit. First you do not have 1 Bitcoin. Secondly you take a loan of 1 btc and hope it price will rise and you can return the original amount keeping the rise in price as the profit. This is where everything goes as expected. What if all of sudden bitcoin prices crashes due to any incident , hack , Fork etc  And you are surely in a loss then and there is no way you can pay back. So i will not take such a risk neither i will give a Loan.

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July 25, 2017, 08:10:51 AM
 #211

I would not risk taking a loan for investment or gambling. This is a very risky undertaking and you can lose all the money, but then you still have to return the loan with interest. You need to see how you can increase your earnings.

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July 25, 2017, 10:39:12 PM
 #212

I don't recommend this kind of strategy because what if the price of bitcoin have a big dump and it takes a year before it have a big pump again? What will you do. Loaning to but bitcoin is a little bit risky much betternif you save a money then buy a miner so you have a bitcoin without loaning.

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July 25, 2017, 11:13:12 PM
 #213

Taking a loan to buy bitcoin and profit is a good decision for those who cannot afford a good fiat to buy bitcoins. Same time it has got the increased risk, because if the user is unlucky due to fluctuations he might be not able to earn the right profit. This may lead to the pending of loan repayments causing the loss, better is to starting with small loan amounts to avoid big losses.

Its way to risky to take BTC loan just to get profit. First you do not have 1 Bitcoin. Secondly you take a loan of 1 btc and hope it price will rise and you can return the original amount keeping the rise in price as the profit. This is where everything goes as expected. What if all of sudden bitcoin prices crashes due to any incident , hack , Fork etc  And you are surely in a loss then and there is no way you can pay back. So i will not take such a risk neither i will give a Loan.

The loan risk is huge. And this is not recommended if we will invest in altcoin, Because altcoin prices are not sabil, they can go up and even down to 10 x fold!Unless we have a reserve fund to be able to pay it off.

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July 26, 2017, 06:31:24 AM
 #214

Taking a loan to buy bitcoin and profit is a good decision for those who cannot afford a good fiat to buy bitcoins. Same time it has got the increased risk, because if the user is unlucky due to fluctuations he might be not able to earn the right profit. This may lead to the pending of loan repayments causing the loss, better is to starting with small loan amounts to avoid big losses.
If you can say there is a risk why you can say taking a loan to buy bitcoin is a good decision. Like you say if we borrow money then there is time to make repayment because bitcoin price is fluctuated then there is no guarantee you will get profit. IMO better you choose to trade with small capital than you choose to trade with huge capital but you use money from loan.

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July 26, 2017, 06:59:36 AM
 #215

Buy and hold with the intention of selling after a certain period is just another type of trading strategy. As said above, one is better off trading with the loaned capital (which can be paid off with a collateral in case of default). But then again, some people are better off not trading than otherwise  Grin
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July 26, 2017, 07:12:54 AM
 #216

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice
If you have your own money,then there would be no problem in buying bitcoins expecting high prices.Even if it don't rise,there would be no problem.But if you are going to buy bitcoins with a loan,then its not a good idea.Thats highly risky.So just avoid taking loans.
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July 26, 2017, 08:58:59 AM
 #217

For me it's a no.Invest only the extra money you had. So that if you lose that money, it wouldn't be that heavy for you to deal because iti your extra. This is the steps that I have learned from a financial seminar.
1. Pay all your debts .
2. Save for an emergency fund. ( all least 3 months of all your expenses will be covered)
3. Save
4. Invest

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July 26, 2017, 10:10:54 AM
 #218

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice
If you have your own money,then there would be no problem in buying bitcoins expecting high prices.Even if it don't rise,there would be no problem.But if you are going to buy bitcoins with a loan,then its not a good idea.Thats highly risky.So just avoid taking loans.
Well, in past time I tried take loans and margin trading, but after one day the price this coin breakdown -25% and I not have stop loss. I had to wait two months for wait recovery price this coin but it still down down and down more until today. Although I had take a big loss but the fee for this loan is $1000 and make me can't forget forverer Undecided



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nidacoinlove
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July 26, 2017, 11:13:38 AM
 #219

I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice
If you have your own money,then there would be no problem in buying bitcoins expecting high prices.Even if it don't rise,there would be no problem.But if you are going to buy bitcoins with a loan,then its not a good idea.Thats highly risky.So just avoid taking loans.
Well, in past time I tried take loans and margin trading, but after one day the price this coin breakdown -25% and I not have stop loss. I had to wait two months for wait recovery price this coin but it still down down and down more until today. Although I had take a big loss but the fee for this loan is $1000 and make me can't forget forverer Undecided
I think this is not wise to take loan for crypto trading, due to high volatility of cryptocurrency market we can't estimate the exact ratio of our return on investment and also ca't estimate the approximate risk. It is better to earn and invest in crypto so that if you in loss you will lose only your money and you don't have to pay anything extra beside your loses.
I never took any kind of loan for the trading purpose because it is always risky and I don't want to put myself in any awkward situation.

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July 26, 2017, 12:33:08 PM
 #220

Usualy there is a rule that you don't take loans for any kind of investment so that refers to Bitcoin too. You should invest some extra funds that you have and don't need for anything else. If you take a loan you have to know that you have to cover the interest rate and get some profit too so that loan could have justification. You can't predict how the price is going to move so buying Bitcoin with loan is risky.

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