The Cryptovator
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October 26, 2019, 02:15:04 PM |
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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?
This is not quite reasonable, invest what you could afford. You should happy with your current financial situation. Monthly buy 500$ is pretty good amount and you might consider it as a your future savings. Even bitcoin price back into $3K once again you will not face problems. Because now you are buying from your extra savings. Do not expect high return from bitcoin. It would not favour you always and you might be lose. When you will buy bitcoin with lent amount you have to return your lent amount with any cost on any situation. Life is very hard we don't what would happen on coming days. Just imagine you need huge money tomorrow for some treatment, you may get loan from somewhere. But if you default a loan then it would be difficult, incase if bitcoin dumped you can't sell it instantly. So my suggestion is be happy with whatever you have. Don't be greedy, it would throw you to hell. |
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iamsange
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October 26, 2019, 02:53:33 PM |
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I think it is wiseable if we not use money from loan and only use money that actually we get. Because with buy little by little, you can see bitcoin price movement from time by time and then make any action from it. So you know when to buy or maybe when to hold. Although if price keep increased maybe you can get less amount of bitcoin. But it is only personal suggestion.
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Clement Kaliyar
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October 26, 2019, 03:11:47 PM |
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Risk is always everywhere, it will be up to him if he wanted to take risk in loaning some money to buy BTC, or just watching the price goes up as the time is passing by, as per some Billionaires that I have red, one of their strategy is to make a loan and do business. Don't be afraid in loaning some amount which your instinct saying that you should buy it, sometimes after doing research following our instinct is good.
Billionaires who loaned money to start a business and becoming successful have their vision on how to handle things and hence we see them reaping profits and not by taking loan to invest in a volatile market as it can break you financially and destroy your life, so think before making any of these decisions, the realistic possibility to make money is when you invested when the market went down last week and if you would loaned the amount and invested you would have earned a healthy profit in a couple of days and returned the loan   . You cannot be successful with instinct alone in a financial market. |
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atjiat
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October 26, 2019, 04:28:49 PM |
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I have been working on the cryptocurrency market for a long time and constantly meet a warning that the cryptocurrency business is a very big risk and you need to have very great knowledge and experience to risk it with your own funds. Nevertheless, I also constantly meet complaints, the authors of which are trying to accuse someone of their greed, greed and lack of knowledge, which caused problems. I think that the same story is with Bitcoin for a loan, because if someone puts his head in a loop for a loan, as a result, the loop will drag around his neck. This is the law of meanness such.
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Ashong Salonga
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October 26, 2019, 04:31:29 PM |
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You can loan to buy bitcoin but do not loan all your money for bitcoin. Make it balance so you won’t lose everything in case something happened towards your investment. Do not settle for inconsistency.
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JohnMes
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October 17, 2020, 02:45:59 PM
Last edit: October 25, 2020, 01:44:55 AM by JohnMes |
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I believe that taking out a loan to invest in bitcoin is a risky business. I would only take out a loan if I could easily repay it later. Also, I would not take a long-term loan in order to have time to transfer, for example, bitcoin to other cryptocurrencies or money. Usually this helps me paydayinusa.com with whom my friend has been working for a long time and now I am. I recommend everyone to diversify their money, that is, not to keep them all in one place, but to distribute them correctly in different assets. |
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FACE 2 FACE
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October 17, 2020, 06:56:53 PM |
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Don't mess with loans. It always ends badly. Either there will be some unforeseen problems that you cannot imagine, or it will turn out that the price of bitcoin will begin to fall - in any case, you should not risk what you have. It is better to move forward little by little and not regret that you bought not so much bitcoins.
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dificanovi
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October 17, 2020, 08:12:46 PM |
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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 am in your position then I will borrow money to buy 2 BTC, I will repay it even though it is within 3 years, in my opinion there is nothing to be afraid of if you want to buy BTC because the price is quite stable and there is a very high possibility that the BTC price will rise . if there is a decline in the price of BTC after I buy it, there is nothing to be afraid of because I have additional income. |
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mangsitin
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October 17, 2020, 10:01:09 PM |
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I once thought like you, loans can benefit from bitcoin for a long time. because bitcoin is a good investment place. and my salary is enough for a loan to the bank, but I discussed it with my wife, and we concluded that the loan is not a solution. I think it's better to invest profit from trading for Bitcoin. and that's in my opinion.
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CarnagexD
Sr. Member
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Leading Crypto Sports Betting & Casino Platform
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October 17, 2020, 10:10:18 PM |
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I think it is wiseable if we not use money from loan and only use money that actually we get. Because with buy little by little, you can see bitcoin price movement from time by time and then make any action from it. So you know when to buy or maybe when to hold. Although if price keep increased maybe you can get less amount of bitcoin. But it is only personal suggestion.
Agreed. Bitcoin is not some get-rich-quick scheme that you can throw upon a couple of hundred dollars and expect to profit in the span of a few minutes, if it has been like that I'd tell you a lot of people would've already quitted their jobs and gone full time crypto-trading. So no, the market is much more unforgiving as it seems, don't throw in money that's not yours or you'll regret it later. |
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Renampun
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October 17, 2020, 10:21:46 PM |
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...
it looks like you are doing a good move by buying Bitcoin little by little... it is too risky to borrow money to buy Bitcoin, how do you know the future price of Bitcoin, while the interest on your loan continues to increase every month. buying little by little is much better than make a loan just to buy Bitcoin quickly IMHO. |
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Jendral Istimewa
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October 18, 2020, 05:09:56 AM |
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If I am in your position, I will double the 500 $ by trading in the short term. because short term trading is very profitable. Little by little, and the results are used for investment.
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d_fitrie
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October 18, 2020, 05:41:54 AM |
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I once thought like you, loans can benefit from bitcoin for a long time. because bitcoin is a good investment place. and my salary is enough for a loan to the bank, but I discussed it with my wife, and we concluded that the loan is not a solution. I think it's better to invest profit from trading for Bitcoin. and that's in my opinion.
I agree that loans are not the best way to make a profit, will affect your psychologist who is burdened by market factors, everyone knows bitcoin is unstable so loans are not the best solution to make a profit. |
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vania vin
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October 18, 2020, 05:53:26 AM |
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Don't mess with loans. It always ends badly. Either there will be some unforeseen problems that you cannot imagine, or it will turn out that the price of bitcoin will begin to fall - in any case, you should not risk what you have. It is better to move forward little by little and not regret that you bought not so much bitcoins.
What do you mean by people who don't understand the crypto market, they will lose. There is clearly a risk that you will have to face it. If you want to be successful, don't be a coward. everyone who is successful now dares to take risks. the downsides are obvious, but don't stop there, just keep going. |
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PonZZ
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October 18, 2020, 05:58:31 AM |
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I wouldn't take a loan to buy Bitcoin. It seems to be very risky. You don't know if the price goes up or down, so you can get a profit or loose some money.
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amishmanish
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October 18, 2020, 06:32:12 AM |
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If you have a stable job, you will be entitled to that loan on normal interest rates. If you take it against property it'll be lower still. Small businessmen often take loans at exorbitant rates from informal lenders. The rates can be as high as 2-4% per month. In comparison to those people, you are at a good position to risk this. Just one thing differs which is that you intend to just hodl in the hope that it'll double in price. These businessmen put it into ventures that they are sure will give them returns.
If you have a plan and risk-capacity to put that BTC to work and bring you profits, then you can take the loan. If you are only counting on the price increasing then, imo, its not a good idea. While we all want bitcoin to reach new ATHs, that 50K figure you cited is not going to be such a cakewalk.
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Dsdaq
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Dsdaq - One Bitcoin, Trade all assets
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October 18, 2020, 08:47:20 AM |
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Every investment is about taking risk. But with loan that's a different thing in all, personal I won't advice you to take a loan and invest in any kind of business or sort because the potential risk are high and full of uncertainties. It's always advisable to take it bit by bit for your safety.
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Eureka_07
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October 18, 2020, 12:07:04 PM |
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Every investment is about taking risk.
<snip>
All investments has potential risks, the level, or the intensity of the risk depends on what type of investment someone is planning to take on. In my opnion, if you think the possibility of taking good profit from a particular investment is quite good, and you happen to have no money in that moment, then it will be fine to take a loan for it. Though the risk is somehow doubled(because you need to pay for your loan later), atleast you are sure that you'll gain profit. Just think about it for a million times before doing so. |
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carlisle1
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October 18, 2020, 12:12:11 PM |
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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?
Not because you have a stable Job meaning everything is really that stable ,since you have posted this last year now i will ask you what happens since the pandemic strikes worldwide? how can you support paying for the loans if your company had some work problem? i am not saying this happens to you but what for those who had loan also because they have stable jobs and then suddenly this Covid19 comes? i will never risk my money by loaning without assurance of what will happen in future. i trust Bitcoin really but not to the extent that there are need for loan just to invest. |
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proTECH77
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Bisq Market Day - March 20th 2023
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October 18, 2020, 12:27:35 PM |
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Everything about business, risk must involved but it is your choice to take the risk and see out come of the business if it's profitable or not. Investing your monthly salary on bitcoin is good idea than collecting loan to invest on bitcoin that you know is a decentralized which can pump at anytime and dump anytime without your permission in the market.
I think, is not good to take a loan to invest on bitcoin because it will be a double risk for you than using your physical cash to invest. If you fail to get the money back from the business it will collapse your business.
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