Loan to buy Bitcoin?

[Wolf Overclocked]

I'm buying ~500$ in Bitcoin every month with part of my salary. I have a stable job and my company is doing good. I'm wondering if it worth to take 20.000$ to buy 2 BTC now and pay the 500$ as loan installment instead of buying sats every month. I believe in the potential of Bitcoin to reach 50k in a couple years, but it wouldn't be possible to buy near half of BTC at the 500$ rate, so this would be something like an "advance". Hypothetically (but still possible in some probability), if BTC collapses and never recover from 8k, I would still be paying this loan for about 3 years but wouldn't starve or something like that, it would just sux for a while, since I still have another source of income. I know it's not the place to ask I will do whatever I think it's best, but if you were in my position, would you do it?

[1715311590]

1715311590

[mk4]

I really almost 100% always suggest against buying bitcoin with loans. You're just putting yourself at too much of a risk in my opinion. Though in the end, completely depends on you. If $20k is something you wouldn't have a problem paying, and that it really wouldn't affect you that much negatively, then by all means go. You just have to think about it really really clearly. Take into consideration emergencies and such.

If I were in your spot though, and if I think $500 a month for BTC isn't enough, I'd just find other extra ways of earning money instead(regardless if offline or online). That way, I could still increase my BTC stack with much less of a risk. You're already ahead of the masses by buying bitcoin right now, even if you've just been buying in the past few months. You don't need to rush things.

[pooya87]

in ways it depends on the risks you are willing to take. you already seem to be aware of the risks and you don't mind ending up paying the loan while in loss so i'd say go for it specially now that price has come down so with $20k you will be able to get about 2.46 bitcoin instead of 2.
but generally speaking i personally try to never invest what i can not afford to lose and definitely not with the money i don't own (loans for instance) i believe lower risk lower profit is better than higher risk higher profit for me.

[Ayiranorea]

Don't go with such plans of loan. I'm a real time sufferer of the same. I started my business by getting loans, by that time I had around 0.75 btc. I could've sold that and started the business. When I started my business the price of bitcoin was above $16000. If I've sold at that price it was more than enough to set my business perfectly, but I believed it'll grow and kept hold buying loans to start the business.

To my expectation the price grew and all of the sudden started to fall. Now I'm paying monthly $200 interest for the loan and the capital I bought hasn't decreased yet. It is getting close to two years since I've started to pay interest.

[Ailmand]

Have you ever thought that what if what you were thinking of would be the opposite. What if bitcoin didn't reach that price after a few years. Consider your options and potential risk that you are going to take. Applying for a loan and paying interest would hurt your financial status a lot. Do not be to confident that since you have a stable job you could make such a drastic decision. Nothing is permanent. Just invest what you can afford.

[Anonylz]

I'm buying ~500$ in Bitcoin every month with part of my salary. I have a stable job and my company is doing good. I'm wondering if it worth to take 20.000$ to buy 2 BTC now and pay the 500$ as loan installment instead of buying sats every month. I believe in the potential of Bitcoin to reach 50k in a couple years, but it wouldn't be possible to buy near half of BTC at the 500$ rate, so this would be something like an "advance". Hypothetically (but still possible in some probability), if BTC collapses and never recover from 8k, I would still be paying this loan for about 3 years but wouldn't starve or something like that, it would just sux for a while, since I still have another source of income. I know it's not the place to ask I will do whatever I think it's best, but if you were in my position, would you do it?

As long as you have a stable source of income I would say go ahead, reason why is btc is very unpredictable, as it is price is a bit low, maybe if you settle for buy bit by bit it would of gone up in price before you are able to buy your desired amount,
If you take the loan to buy now you have manage to bypass that increase, and in no time you are done with paying off your loan and still watch btc increase in price value,
This is how I will do it as long as I know my job is stable and secure.

Nobody can tell future but I believe btc will get pass present price and more, you should look long term, you never know.

[yoseph]

As a principle of mine, I make sure that I don't ever go for a loan to do any type of investment because there is a 50% chance of losing it all but OP seems to have a stable job and it wouldn't really hurt that much if the price of bitcoin seems to go down in the near future if he /she is patient he will reap the profits.

[Kyraishi]

I think most people here are pretty against using loans to invest in anything, whether it would be a traditional investment or a crypto-based investment, but from what I've read, it's actually not that bad.

The main problem with taking out a loan to invest is that in most circumstances, the loan you are taking out has funds that you can't lose, or you're screwed basically, it's the idea of profiting off money that isn't really yours.

For you though, it seems like losing that amount of money is honestly fine, just sucks, so I'd actually go for it mate.

[Wexnident]

I'm buying ~500$ in Bitcoin every month with part of my salary. I have a stable job and my company is doing good. I'm wondering if it worth to take 20.000$ to buy 2 BTC now and pay the 500$ as loan installment instead of buying sats every month. I believe in the potential of Bitcoin to reach 50k in a couple years, but it wouldn't be possible to buy near half of BTC at the 500$ rate, so this would be something like an "advance". Hypothetically (but still possible in some probability), if BTC collapses and never recover from 8k, I would still be paying this loan for about 3 years but wouldn't starve or something like that, it would just sux for a while, since I still have another source of income. I know it's not the place to ask I will do whatever I think it's best, but if you were in my position, would you do it?

Don't. Even though it has the potential to reach 50k, loaning for it isn't that reliant. Just continue your buying spree every month and don't bother. Bitcoin is a type of investment, and using loans to pay for that investment isn't that worthwhile in my opinion. Of course, if you could pay the loan without affecting your current performance in life, do as you deem fit. These are just my advice and you don't really have to stick to it, but do take it into account.

[Zeke_23]

I think most people here are pretty against using loans to invest in anything, whether it would be a traditional investment or a crypto-based investment, but from what I've read, it's actually not that bad.

The main problem with taking out a loan to invest is that in most circumstances, the loan you are taking out has funds that you can't lose, or you're screwed basically, it's the idea of profiting off money that isn't really yours.

For you though, it seems like losing that amount of money is honestly fine, just sucks, so I'd actually go for it mate.

If ever, OP has a stable income, paying 500 bucks monthly as stated above is fine, he is indeed fine. But it will be a waste if ever he failed his plan, also I think OP is making a rush decision due to sudden fall of price of bitcoin. He wanted to take advantage for that fall. But still, the last decision will be coming from him.

[Tylev]

It seems to me that it’s better not to get involved in loans, but, as before, invest in bitcoin for $ 500 every month. Firstly, I’m not sure that in a few years Bitcoin will increase in price much. Secondly, it’s dangerous to get in touch with loans, and you still have to pay certain percentages. I see that everyone here is also against taking a loan to buy two bitcoins now. Better not to take risks, but to invest constantly. Even if the price of Bitcoin falls, with the same amount of investment, you will buy more Bitcoin.

[nydiacaskey01]

A loan is a loan, regardless of how much "you think" you will earn from the investment that you plan to make using the proceeds from that loan, its still a loan. You can't count your profits yet until you have it in your hands. Even when "you think" the chances are high that you will earn from it, still its a big no as known investors always say, avoid loans at all cost. As long as you don' have that money in your hands, your investment is at risk.

[timerland]

I think most people here are pretty against using loans to invest in anything, whether it would be a traditional investment or a crypto-based investment, but from what I've read, it's actually not that bad.

The main problem with taking out a loan to invest is that in most circumstances, the loan you are taking out has funds that you can't lose, or you're screwed basically, it's the idea of profiting off money that isn't really yours.

For you though, it seems like losing that amount of money is honestly fine, just sucks, so I'd actually go for it mate.

If ever, OP has a stable income, paying 500 bucks monthly as stated above is fine, he is indeed fine. But it will be a waste if ever he failed his plan, also I think OP is making a rush decision due to sudden fall of price of bitcoin. He wanted to take advantage for that fall. But still, the last decision will be coming from him.

You could see this 2 ways though, in one world he gets a loan in order to capitalise off the falling BTC prices and then they go up in a couple months, he can either sell BTC so he can repay the loan and make some money, or just keep it.

I recommend you to think this through, but being a safer person myself, I wouldn't take the loan, just be happy with the amounts of BTC you have so far, and keep working on the 500 a month.

[Baofeng]

Personally, I won't go that route, would rather stick to your plan A of investing $500 when you have the money already. You don't want to put yourself in a position that the loan will be a burden for you. If you believed that bitcoin can go as high as $50k then just invest in gradually, no need to rush yourself here. Just go with your original plan and you will be good.

[Astvile]

Please avoid buying bitcoin using loans, it's risky as we don't know and we can't predict when and if bitcoin will still pump up or die, it might happen at any moment. If you have a stable job then you must continue what you are doing and buy worth of $500 monthly in that way if you lose you won't feel broke at all since it's all spare money.

[ivakar]

not really good idea, actually. cause you'll create debts for yourself right now, without warranties to repay debt in future.
you can not control bitcoin's price, but you can control your own budget.. if you have some bitcoins already, it is ok to believe 50K price level in a couple of year and sell it then
but if do not have bitcoins, never ever take real money and throw it in crypto.

[k@suy]

I'm buying ~500$ in Bitcoin every month with part of my salary. I have a stable job and my company is doing good. I'm wondering if it worth to take 20.000$ to buy 2 BTC now and pay the 500$ as loan installment instead of buying sats every month. I believe in the potential of Bitcoin to reach 50k in a couple years, but it wouldn't be possible to buy near half of BTC at the 500$ rate, so this would be something like an "advance". Hypothetically (but still possible in some probability), if BTC collapses and never recover from 8k, I would still be paying this loan for about 3 years but wouldn't starve or something like that, it would just sux for a while, since I still have another source of income. I know it's not the place to ask I will do whatever I think it's best, but if you were in my position, would you do it?

Do not loan, it is not practical thing to do. Because bitcoin will not pump so easily, it takes months before it is really unstable. Your loan will have an interest monthly make sure if you got your loan you will not go broke, since you have a job use your salary instead. Take the half use it as your daily budget then the other half use it to invest.

[adzino]

I'm buying ~500$ in Bitcoin every month with part of my salary. I have a stable job and my company is doing good. I'm wondering if it worth to take 20.000$ to buy 2 BTC now and pay the 500$ as loan installment instead of buying sats every month. I believe in the potential of Bitcoin to reach 50k in a couple years, but it wouldn't be possible to buy near half of BTC at the 500$ rate, so this would be something like an "advance". Hypothetically (but still possible in some probability), if BTC collapses and never recover from 8k, I would still be paying this loan for about 3 years but wouldn't starve or something like that, it would just sux for a while, since I still have another source of income. I know it's not the place to ask I will do whatever I think it's best, but if you were in my position, would you do it?

Aren't you doing fine with buying $500 USD worth of  bitcoin a month? Why do you have to buy $20,000 USD worth of bitcoin at once? Is it because you are thinking that the price of bitcoin is at it lowest level? And are you sure you will still have  a stable job to pay off your loan? If yes, then yeah go ahead do it. I wouldn't say its a bad decision (assuming you wouldn't worry if the price of bitcoin drops during the time you hold the coin).

[Shasha80]

I strongly do not recommend a loan to buy bitcoin, it is a very careless action to do. Because investing principle basically use your
extra money.Remember when we agreed to loan money, it means we are obliged to pay installments without being late.But the problem is sometimes
there are sudden needs that require money suddenly. Later your finances can fall apart.Let's think about the worst if bitcoin hasn't
gone up, and you have a sudden need right then and there.Because I've experienced something similar, using a bank loan to buy bitcoin.
What happened was I was fired from where I work, then the price of bitcoin actually dropped. I decided to sell everything, but I couldn't
close my loan, The end have to sell one of the assets that I have, which is the car that I have. Since that time I promised not to borrow
money again,especially for needs that are not urgent.

[maydna]

You are so lucky if you can pay the loan every month. I think you can do that if you are sure you can pay $500 every month. As long as you can pay the loan, then I think that it is okay if you want to buy 2 bitcoin using that money. Perhaps, I will do the same as you if I have a stable job in real life because I believe that bitcoin will increase so high in the future. But I will make sure that the paying money will not disturb my daily needs because that is the important thing that I need to buy monthly.