Loan to buy Bitcoin?

[Herbet Fry]

Most people I think will say no because in the short term you could lose very quickly if you buy just before a dip. I think in the very long term you will do well but can you afford to be down for that long?
I doubt it since you are taking a loan, to begin with, so a short term loss can throw you off.

[bitcoinposts]

never take loan to buy bitcoin bitcoin market is volatilize market we should keep buying when the price drops down

[Kyraishi]

borrow money for bitcoin investments? You do something very stupid, at your own risk. In terms of cryptocurrency, in general, I can say with certainty that they will come to a bad end.

I honestly don't see something stupid in it since he can easily pay back the loan but the stupid thing is him not seizing the opportunity of this current dump market before it Bitcoin halving year which will literally lead to max surge in price of Bitcoin market.
How about the person that sold his girlfriend car in other to invest in Bitcoin?

Well, as long as the OP can pay the monthly payment of that loan with his salary then there is no problem with that. But I don't know yet if the salary that he's going pay is enough that he still have some money left for emergency or for foods. I can't deny that buying during this dip is a once in a lifetime chance but the risk of taking too much responsibility might cost him something.

There's 2 big factors you to take in here when making a decision.

1. Does OP have enough savings so he can cover any incident that happens? Would this be enough to cover any freak things that happen (your car breaks down, etc).

2. Are the interest rates of the loan low enough to justify doing that, or are the rates of Bitcoin so low your able to justify taking out a loan for it?

Once you answer these questions you'll be able to make a decision.

[bering]

For me it's simple after read your story that basically you have a salary and you says the company which you works is good probably stable from management side so at least if bitcoin price down more than now and you loss then you still can pay your loan through your salary so in this case buy bitcoin from loan is fine for you because you didn't counting on your earning from bitcoin and have actual job

[yurekaa]

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?

if I suggest you shouldn't buy bitcoin from a loan because it's very risky. although I'm also always optimistic that one day the price of bitcoin will reach $ 30k. taking a loan is very risky if the price of bitcoin in the future does not match expectations then you will regret it. You use $ 500 to buy bitcoin every month is correct. and you should try to join a bounty campaign project with a bitcoin prize or you are taking part in the bitcoin faucet. by doing this bitcoin you will increase without having to borrow money.

[Olaphash]

Taking loan to buy crypto is not a good financial strategy. If I were you I would increase from buying 500$ a month to around  600$.

[dimox]

i have a friend, he dont know about bitcoin. someday i ask him to join this site but he refuse because it take long time to gain and a chance to gain profit is not sure. when bitcoin price reach top on last year, he late join and decide to be reckless. he buy at high value with his money, and he ask to some friend and he said this is investation. but now he lose all of money and fund. he try to return money to his friend and try to fix his life.
moral message, dont borrow money for investation.

[ReiMomo]

i have a friend, he dont know about bitcoin. someday i ask him to join this site but he refuse because it take long time to gain and a chance to gain profit is not sure. when bitcoin price reach top on last year, he late join and decide to be reckless. he buy at high value with his money, and he ask to some friend and he said this is investation. but now he lose all of money and fund. he try to return money to his friend and try to fix his life.
moral message, dont borrow money for investation.

We should know how bitcoin works and the possible circumstances that happen. Unfortunately, your friend did not get any advice from crypto enthusiasts expert when it comes the financial problems. Well for me I think it's not necessary to loan in order for you to be able to but bitcoin because as well all know bitcoin if for a long term investment. That means you can earn a big profit but in a long period of time. Then most of the loan agreement is you must pay your loan every 15days or every month so where can you find the money to pay your loan? It's very hard so much better to save money first.

[mdzahed134]

Investment in Bitcoin to instead of your own salary. I think here some advantages and disadvantages. Still now BTC price is not high so at the moment it’s looking worth investment. Because BTC is the brightest currency for the future. Long term investment will definitely profitable i believe that. This is the unpredictable game if unfortunately market will go the extremely crash when how you can be recover your loss. So, i think this is very risky and do it’s your own risk. Even here everyone dosen't support to loan for buy Bitcoin.         

[zenhu]

Im never do this way to invest on bitcoin, I just invest with my money that willing to loss. To get profit in crypto trade we can start with little money and grow with it. We don't know what happen next with market movement, every single trader have potential to loss, to be bullying by market.

[lienfaye]

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?

Its not advisable to take loans just to buy bitcoin even you can afford to pay it regardless of the outcome of your investment. You are buying satoshis every month and I think its enough to accumulate btc. Think about it because its risky, we know how volatile the market is and we cant say what will happen next for the future of crypto thus it would be better to buy using your own money and not taking a loan.

[gandame]

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?

I think its better to buy at your own and not take a loan baecause if you loan that loan have interest. So i think its to buy every month for 500$ than take a loan.
But its up to you sir its own decision if you want to take loan to buy a bitcoin its own.

[cutesgirl]

I keep take away from big risk with bitcoin and altcoin investment, for me bitcoin and altcoin investment give for us not only profit always but also we will faced with lost our money with bitcoin and altcoin investment, I don't want to loan money at the bank for investing with bitcoin because too risk with bitcoin price not always higher and can be dump, but if you have other your source money to pay loan when bitcoin down you can try but if you not have, never loan money for buying bitcoin.

[Sithara007]

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?

To tell the truth, this sounds like a bad idea for me. Purchasing coins worth $20,000 in one go is much more riskier when compared to doing it in installments of $500 per month. Because the Bitcoin price is volatile and you will get more coins for your $500 installment, whenever the prices go down. But anyway, both the methods have risks and advantages associated with them. You don't need to listen to the advice from others. Go for the option, which you think suits you the best.

[BartS]

borrow money for bitcoin investments? You do something very stupid, at your own risk. In terms of cryptocurrency, in general, I can say with certainty that they will come to a bad end.

I honestly don't see something stupid in it since he can easily pay back the loan but the stupid thing is him not seizing the opportunity of this current dump market before it Bitcoin halving year which will literally lead to max surge in price of Bitcoin market.
How about the person that sold his girlfriend car in other to invest in Bitcoin?

Here the question is, at what interest rates do you get credit money? The second question is at what price buy Bitcoin. Experience has shown that buying Bitcoin for $ 4,000 brings a good profit.

That is key, many never consider the interest rates they need to pay when they get a loan but it can be the difference between paying the loan relatively quickly or being stuck with it for years, the rates vary wildly between countries and the type of loan you are getting but the worse by far are credit cards which can have an interest rate of 30% to 50% each year and even with the great performance of bitcoin it could be very difficult to pay the loan especially if you buy bitcoin at the top.

[beliomir]

I would not advise taking a loan for investment, although you can take a loan if there is a stable source of income

[WatchMaker]

That depends on how long you are going to HODL your bitcoin. If you buy bitcoin now and HODL it for the next 5-10 years you are going to make a huge amount of profits. Imagine the people that bought bitcoin in the last 5-8 years? Those guys bought bitcoin around $100 to $200 range and yet they can now sell their bitcoins for roughly $8k minimum. Bitcoin is a very good investment for the long term. 

[bhadz]

I've been taught by those people who are good in finance that rich people take loan for business and investment. But they all understand and can calculate the risk that they take and they are the ones managing the flow of their investment. Unlike taking loans for bitcoin, the risk that you will take is unmeasurable and you don't have a way to control it. Majority here tells you that don't do it which I also advise you to. I hope that you won't experience losing as the market stumbles together with your debt.

[Wolf Overclocked]

Wow! I'm surprised on how far this topic went. After reading every single comment, and appreciate everyone who took time to write something, I decided to just keep buying slowly every month and not taking that loan. I's been said I would do what I thought best, but I confess I was more inclined to take that loan. After reading all the comments I realized that was a bad idea, so I'll just keep buying sats. No hurry.

Thanks guys.

[Dewao]

That depends on how long you are going to HODL your bitcoin. If you buy bitcoin now and HODL it for the next 5-10 years you are going to make a huge amount of profits. Imagine the people that bought bitcoin in the last 5-8 years? Those guys bought bitcoin around $100 to $200 range and yet they can now sell their bitcoins for roughly $8k minimum. Bitcoin is a very good investment for the long term. 

The good plan about loaning  when you want  invest in btc is if you have a business already that can use to  pay all of the loan that you will use to buy BTC .