A man in UAE took six figure loan and lost 85% of his crypto value

[zinson01]

Crypto market is highly volatile and one rule of investing in highly volatile market is to make sure that losing that amount won't make you go bankrupt. This person who took out such huge loan should be taken as an example of how not to invest in crypto market. It is very important to know how to invest rather than where to invest.

[Crystalcoin24]

Such a bad decision it was. Everyone should know that the market is not stable. So taking loans and investing on crypto with large amount money had to be a failure. I don’t think no will do this again

[bitfocus741]

This is really a bizarre thing to do. A man with this kind of strategy had to be failed. You can’t invest someone else’s money paying interest on the most unstable market in the world

[chengyinoing]

Investing in cryptocurrencies is risky, and we should not be lending to participate in investing, and doing so is very dangerous. Invest the amount you take.

[blackmagic111]

This is kind of a mistake that had to pay off. I see this man is the last person to do crypto business with this common sense. I hope he recovers in future by any miracle

[Nikolas_the_Wonderworker]

Why does everyone accuse this respected Arab citizen? Is all the cowardly investors here at the forum? Therefore, dear friends, the crypto market does not grow - no one believes in crypto and quietly sits, keeps all the money in their pants. I support this brave Arab investor, he lost only 85%. Most likely he made a mistake, and if he had not made a mistake and bought in December the EOS, he would have already about $ 1,000,000 and we would have admired him. I wish him luck as quickly as possible, and earn on the rise of the market crypto-currency and return a loan with a big profit. Especially since time has not yet been lost.

[kiemnhieutien]

He has not followed the basicest investment rule,  only invest what you can afford to lose. I guess he has no knowledge about cryptocurrency and investment.

[AllStrong002]

This is really frustrating based on this situation also he has faith in this market but I don’t think such amount of amount is not necessary to invest.

[Freezingel]

There's reason why people often say only invest what you can afford to lose, if you have no spare money then investing shouldn't be your priority. Crypto is a high risk high investment and he decided to take a loan so i guess he didn't think much about it, i got afraid when the price rose a lot in december and January and i cashed out most of my crypto and it's certainly a great decision.

[vKedax]

I wonder if he thought about the risks when invested in the cryptocurrency. The market can make us rich or take away everything, it is worth remembering this.

[availcrypto]

I figure he doesn't know excessively about crypto, he contributed a gigantic measure of cash without knowing the hazard, he doesn't recognize what he may get from that point onward, he contributes on the grounds that he realizes that crypto is a decent chance to acquire cash.

[criticoflife]

Crypthomie, a Reddit user identifying as a 32-year-old male living in Abu Dhabi, recently posted a photo of his repayment schedule pertaining to a six-figure loan that he took out on the 18th of December, 2017.

The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.

The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”

Not like he can't get it back. just invest the remaining 15% in some good projects and he will be back on top in no time. So many new exciting projects around right now i have a list of at least 10 that will all likely moon in the coming months. My own portfolio has risen and fallen by around the same amount he invested but it doesn't discourage me in the slightest because i see the potential earnings every day also.

[kier010]

crypto is very risky and what we expect will not always the result we expect. always expect the unexpected because crypto is very volatile. don't invest what you don't have and so you won't experience just like this. last year that time crypto are soaring high and he expect it to continue rising but the opposite is happening. be content of what you have and don't go over the limit of what you can invest.

[tomward]

He Was excessively eager, that is the reason he put such a major sum in crypto. Furthermore, everybody knows crypto showcase is dependably on hazard as it runs 24 Hours.on which premise that bank gives a credit to that individual. Never put resources into crypto with advance cash as it isn't your cash.

[goldencrypto7100]

First thing one should keep in mind before investing that he/she mustn’t invest what he can’t afford. I hope this incident will teach people a good lesson. No one should let the greed destroy his/her life.

[cryptoshops9944]

If this is true, I hope people will learn something from it. Talking loan for making investment on crypto is too much risky. Nobody should be this much desperate to make investment. One should invest what he/she has extra in their pocket.

[blackrain321]

I am really sorry to say that but this was a very foolish move from him he never should invest all the money he has, one should never invest more than he can afford cause risk is always available in this place so you can't be careless about this kind of matter

[CoinOnTheBeach321]

yeah I also hear about this news as well and it is very unfortunate news but the fact is as a investor we must know the first rule of investment and that is never invest more than you can effort so you can't deal with this place if you don't have the proper knowledge about the place .

[larkscrypto]

Crypto are more profitable and potential market. it will be more make your profit but you should justify before invest. you invest your money with you intelligent than you will make more profit.

[easybtcearn07]

it is very bad with you but don't be upset. you should study more and get much knowledge than you make a proper investment to get more profit. you should give time in crypto market and develop your skill. it will make your profit.