Loan to buy Bitcoin?

[Crypto_lion]

To anyone who is thinking this may be a good idea, never ever take a loan to invest in something.Be it Bitcoin , gold or anything this is the first rule of investing. You may end up losing the loan money and pay interest.

[onrise]

Couple of years back when market had fallen and there was more fear in the market, I took a big risk during that time. One thing for me was sure that bitcoin will not fall, or it is not a bubble where it may not rise back. Only thing that was not certain was a time. So, I took a loan from one of my friend for couple of months and had asked him that it is possible that you may have to extend it. He agreed and had invested that amount in bitcoin.  I did make little profit out of it and returned the money back to my friend with interests. So only if one has strong reason where you know certain things and can see the rise may happen then only taking loan is viable else better to avoid it.

[taufik0911]

I think you are too emotional and your enthusiasm, it will be dangerous for you
There are some things that humans don't know about, one of which is death
If I were you, what I would do is still make a $ 500 purchase every month this is less risky
this is the worst case scenario when you get fired, who knows? unless you are ready for all the risks that I convey you may be more daring than me

[Josefjix]

This is a risky business you're trying to trade, what happens to the $500 worth you're buying monthly?(greed). You can take the loan if you know you can pay it without any problem, whatever everyone tells you here still remains their personal opinions. If you don't pick one good one and use it it is meaningless. But I personally wouldn't advice you to do so, it is not different from applying for loans to play casinos.

[EdenHazard]

I think you are too emotional and your enthusiasm, it will be dangerous for you
There are some things that humans don't know about, one of which is death
If I were you, what I would do is still make a $ 500 purchase every month this is less risky
this is the worst case scenario when you get fired, who knows? unless you are ready for all the risks that I convey you may be more daring than me

At some point you'll have a thought to go yolo to take higher and higher risk once in lifetime ..

Such action to take loans is reasonable as long as you do understand the whole market situation.. the technical factors etc. Not just buying it blindly.
Never do that if it was for speculation purpose, you'll ended up in misery. That's the point.

[aesma]

The problem with your plan is that you can't dollar average, so you would bet on the current price.

An alternative could be to split the bet, take a loan with a 250$ payment schedule to buy BTC now, and continue to buy BTC bit by bit with the other 250$ each month.

[Asuspawer09]

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 buying bitcoin using a loan doesn't sound like a good idea at all, because invest in bitcoin is a big risk meaning if your investing what came from a loan that could just make it worst.

But your method might actually work, buying a big volume like 2 bitcoin at once is better than going to a 500$ investment in every month that came from your salary. Even though a small pump would be an easy profit if your going for 20k$ at once. At some point, you not really going to lose any investment if you're not going to sell your bitcoin if you're just going to hold your bitcoin for a long time, or maybe you could wait until you fully paid your loan that might be a big profit.

Still, investment is risky so there is still a chance that you could lose your investment if you stop believing in bitcoin or make a wrong sell decision.

[dunfida]

I think you are too emotional and your enthusiasm, it will be dangerous for you
There are some things that humans don't know about, one of which is death
If I were you, what I would do is still make a $ 500 purchase every month this is less risky
this is the worst case scenario when you get fired, who knows? unless you are ready for all the risks that I convey you may be more daring than me

At some point you'll have a thought to go yolo to take higher and higher risk once in lifetime ..

Such action to take loans is reasonable as long as you do understand the whole market situation.. the technical factors etc. Not just buying it blindly.
Never do that if it was for speculation purpose, you'll ended up in misery. That's the point.

True! There should always be a consideration or criteria to follow on when you do make up purchases if you do really aim for profits knowing that you are making some loan
which you should mind if that purchase or buying up bitcoin will really be worth on the time you had bought not just directly making out steps without even considering on
whats the current price you had bought in.Make it more worth and this does really required knowledge on when to do that.Taking a loan isnt bad as long you do
know the risk involved on bitcoin but since he does have a day stable job then having bitcoin in sideline wouldnt be a bad idea.

[Becky666]

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.

Basically, going for a loan to make investment with bitcoin shouldn't be a good move from those who understand the volatility of this cryptocurrency. Have seen some good fund manager who went to jail for money in their possession that went drained because of cryptocurrency volatilities. Though, the only route which is acceptable for me is when such investors would invest in Bitcoin for a long-term.

[Sadlife]

Yeah i do think its a viable idea. You would not starve or will affect your financials then i see no problem to it. Especially when Bitcoin is in Bullish stages, I do think that it will blow up in near 2021 because all technical indicators are pointing towards the upside especially the popular stock to flow model by Plan B. So you might take some little risk for great rewards.

[romero121]

This thread about the market price has been created during the starting days of October 2020. By the time the price of bitcoin was close around $11000. We can just make a calculation on the same. Let's assume OP has got a loan for 10% interest  which isn't available with most of the banks. For a loan amount of $22000 he needs to pay regular EMI of around  $710 per month. End of three years time he'll be paying around $3500 as interest.

Within the three years of time we can experience better growth with bitcoin for sure. Even a $1750 growth will make him own two bitcoin without debt end of three years. For me it looks like a good choice with some risk without which profit making out of cryptocurrency is hard.

[btc78]

This thread about the market price has been created during the starting days of October 2020. By the time the price of bitcoin was close around $11000. We can just make a calculation on the same. Let's assume OP has got a loan for 10% interest  which isn't available with most of the banks. For a loan amount of $22000 he needs to pay regular EMI of around  $710 per month. End of three years time he'll be paying around $3500 as interest.

Thread was created at 2019 mate and not 2020 so this means this is about 1 year old thread and things has changed year after.

Within the three years of time we can experience better growth with bitcoin for sure. Even a $1750 growth will make him own two bitcoin without debt end of three years. For me it looks like a good choice with some risk without which profit making out of cryptocurrency is hard.

but the problem is he has loan mate and need to pay then what about now?that the Pandemic ruin everything ?do you think he retains His job?i doubt it.

[Lorence.xD]

You are in the ideal situation right now when it comes to your current work. 20,000$ is a lot of money, the rate at which you buy satoshi is not that bad as you think it is. If I were in your shoes, I would consider possible scenarios that might happen that will hamper my consistent payment with the loan. If the loan procures interest when it is not paid in due time then I wouldn't take it because emergencies might happen that can cripple finances and even your stable job might not be stable the next day. Consider increasing the amount of dollars you buy for the satoshis or watch out for a price drop along the month so you can get a significantly higher amount of satoshi for the same price.

[masphie]

Why not ?
i am do it right now, but i am not hold for long time. I am play future with monthly target. So, i am not day trading. I will analyze first before making a transaction.

[Blue MoonFlower]

I strongly disagree with the thoughts of taking a loan just to buy bitcoins. Not because bitcoin is very volatile by nature, but because it is much wiser to invest with bitcoin with your own hardwork and money. No matter how risky the investment is, and whatever the results might be, its your own money after all and you don't need to worry about monthly amortizations and any hassle that a loan may cause. On the other hand, you stated that you have a stable job and a stable company, so you think you are confident enough that you'll be able to pay...but, please think about it a million times before you engaged yourself into something that you will only regret in the end. Plan, work more harder, save a lot and then invest. Don't be so in a hurry, every investment will take at the right time.

[Rafiqul]

All investments have more or less risk, but the risk in cryptocurrency is very high. Just as there is a possibility of a sudden increase in profit, there is also a possibility of a greater loss. For example, in 2017-2018, the price of Bitcoin, which was in 2019, decreased several times; Which so far he has not been able to reach the price. What if someone had invested in borrowing at that time?  Just imagine. So I would advise, don't invest in borrowed crypto especially bitcoin. Invest as much as you can afford.

[gmakaveli]

No, just don't. That's a slippery road, even if you're sure you're gonna pay it off, don't ever invest more than you can lose, it's as simple as that

[mezzaluna]

Loaning to invest is not worth it if you are investing on some volatile market like Bitcoin. These investments can only go one way, either profit larger or being indebted deeper. Its always better to have a capital of your own since the decision will only be yours to choose and its always better to gain more money by your own money.

[Kong Hey Pakboy]

Loaning to invest is not worth it if you are investing on some volatile market like Bitcoin. These investments can only go one way, either profit larger or being indebted deeper. Its always better to have a capital of your own since the decision will only be yours to choose and its always better to gain more money by your own money.

Loaning or borrowing money to buy or invest in bitcoin is a bad idea because it would only lead you to a much larger debts. Bitcoin is indeed volatile that it is hard to predict when will bitcoin's will go up or down, so there is no guarantee that you will earn money in bitcoin in a short period of time. It's better if you used your own money, even in a small amount of profit for you not to risk too much money in your hands.

[Clark05]

Risky is always there even you use your salary money or the loan they have possibility to lose it so I recommendable invest moderately that you can afford to lose even the possible profit that will get to the bitcoin in the future is high we need to know the reality is not always that people earn by investing to this coin they have people lose all their money or most of their investment because also the bitcoin but better if you have investment to the bitcoin but you need to take a risk.