Would you borrow in cryptocurrency?

[beami]

I will not borrow crypto despite an emergency, I better avoid it and borrow it makes it a difficult step to make a profit.
If you borrow it becomes heavy and fears more than losing.

[maxitdev]

What if the cryptocurrency in which you can borrow have a stable price and the interest is lower than in fiat?

https://www.maxicreditcompany.com/

[karankamaze]

for now, I have never borrowed in crypto, but if the conditions are urgent, it will allow me to do it.
but I really hope if I never do it because I really avoid that kind of thing because it's very high risk.

[Gabmot]

First and foremost, i didn't know is even possible in the first place. But,  even at that, i do not think that is popular yet cos i have never come across it.. I see as an innovation that will enhance more adoption..

[baghdatis1990]

      I do not recommend anyone loans for cryptocurrency. It's a new fashion, but I'm not interested in this option. To borrow for crypto is risky for both you and the borrower because the crypto market is extremely volatile, and the cryptocurrency fluctuation may not be favorable.
There is no suitable option for these loans. An unwritten rule says you only need to get into crypto as long as you allow yourself to lose.

[louisBSAS]

I am interested in opinions about borrowing in cryptocurrency.
If a cryptocurrency will have low price volatility, then would you borrow in that token?

If not please tell why?

I see no point in borrowing a token. In real life, loans are taken to buy something.
The only reason you can borrow a token is that if you know that it will soon fall in price, you borrow it and sell it for Ethereum or other currency. The price drops, you buy the necessary number of tokens to repay the debt, and you keep everything else as a profit.

[maxitdev]

I am interested in opinions about borrowing in cryptocurrency.
If a cryptocurrency will have low price volatility, then would you borrow in that token?

If not please tell why?

I see no point in borrowing a token. In real life, loans are taken to buy something.
The only reason you can borrow a token is that if you know that it will soon fall in price, you borrow it and sell it for Ethereum or other currency. The price drops, you buy the necessary number of tokens to repay the debt, and you keep everything else as a profit.

Actually, I started this topic cause we develop a P2P lending platform and a commercial platform where the borrowed money can be spent.
Visit https://www.maxicreditcompany.com/

[Oceat]

I think it's one of the reasons why crypto would not stand alone without the help of fiat currency. As we can see we do trades crypto in such products and services because we know there are merchants who accept it as a payment and cash it out with fiat currency.

So you guys think cryptocurrency would stand alone without a fiat currency?

[maxitdev]

I think it's one of the reasons why crypto would not stand alone without the help of fiat currency. As we can see we do trades crypto in such products and services because we know there are merchants who accept it as a payment and cash it out with fiat currency.

So you guys think cryptocurrency would stand alone without a fiat currency?

I think we won't need fiat when the weakness of the cryptocurrencies will be sold.
Check the concept of Maxit at https://www.maxicreditcompany.com/whitepaper.pdf.
We try to solve problems like high price volatility or fixed money supply.

[coinbirds]

I am not considering borrowing  any crypto as it is highly volatile and I could end up in a loss.
Of course it depends on the market type as well, but it would be a risky business.
Only stable coins could play the role of  safe borrowing and lending.
There are many lending projects out there and will check how they operate.

[jvper]

As long as there is some asset - liabiliity management, I would borrow or lend in cryptocurrencies. Remember to hedge your exposure though.

[anggracoin]

Crypto borrowing is very risky because it has high fluctuations. So, I don't recommend that. If you really need capital and you have no choice but to find a loan, it's better to borrow it in fiat, it's safer in my opinion.

[Isiaka208]

The interest rate will certainly be high because this space is not stable as it comes with plenty of risks.  You may end up spending your whole money on the even of default

[Youghoor]

It will be a bad option to borrow in cryptocurrency. The volatile nature makes it a bad idea. You could borrow $100 and you will end up paying like $500 in return. But on another end, the person who lend you the cryptocurrency might lose the initial value which he/she lend to you.

[waynechong1995]

Depends on what you gonna do, if you betting against the price make sure it's worth your judgement as fiat/crypto are extremely volatile, like how margins could benefit you by effectively borrowing you more than your investment, its easy to go boom with all your investment ending up getting nothing

[Haterstestbtc]

Crypto borrowing is very risky because it has high fluctuations. So, I don't recommend that. If you really need capital and you have no choice but to find a loan, it's better to borrow it in fiat, it's safer in my opinion.

Yeah, it so true better to borrow in a fiat than to cryptocurrency. We cannot gaurantee that crypto will gaining much because of the movement in market which is hardly to defined. And as far as concerned i have a friend who borrow the same thing but its not true.

[deredevil]

I myself am not interested in borrowing funds in the form of cryptocurrency, in my opinion it is better to borrow money through the bank the procedure is easier and more secure, if through crypto the rules may be more complicated than the bank and in my opinion it will be more risky because of its fluctuating nature, but this goes back to each person who wants to choose which one

[Adriano2010]

Maybe yes, if i can get some profit, but is hard these days to know if is possible to get back funds or they are lost, but to borrow on a bank in crypto we will don't see soon that option.

[CoinChili]

I have never borrowed anything in coin cryptocurreycy or tokens, to be honest I would not borrow anything at a low cost.

Never experienced that. Especially when the cost is still too low. But if ever it would be an Ethereum coin, i can still consider it. In a high value, of course. I just wonder, why do you have to borrow crypto tokens instead of fiat money? Is it for the trading purposes?

[DreamStage]

If i know the guy who i am borrowing to then yes i would borrow some.

If you mean for yourself then you should consider what options you have and if you can pay your debts.