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Author Topic: Loan to buy Bitcoin?  (Read 5892 times)
ilovealtcoins
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October 25, 2020, 04:11:12 PM
 #221

The cryptocurrency market is high risk and no one can predict their future value. Cryptocurrencies are associated with technology, technology is always changing. Bitcoin can be a good investment, you can borrow money to buy Bitcoin but always know your financial ability. I used to borrow money to invest in the crypto market and I know the difficulties of investing with loans. In the case of a re-selection, I wouldn't borrow to invest because it was terrible. I have to work hard to pay off my debts while my investments are losing money.





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October 25, 2020, 06:14:45 PM
 #222

Investing isn't bad, but if you can control your debt and don't let bad debt happen, it's great. Right now Bitcoin is forecasted to be in strong momentum and buying Bitcoin would be the right choice.
I fully support your Bitcoin purchase at this time. If Bitcoin falls in price it may not be too deep because Bitcoin is currently above $ 10,000 for a long time.

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October 25, 2020, 07:24:33 PM
 #223

Bitcoin is a great investment but i still don’t buy the idea of loaning to buy bitcoin, it’s volatile and the price continue to rise and fall. The undisputable  fact about bitcoin is that it’s risky and loaning to buy it is not certain for profit.

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October 26, 2020, 01:11:43 PM
 #224

Loan on BTC? Not at all I request everyone not to entertain such things because crypto is extremely volatile, I would say this is purely stupidity.

You cannot always expect only good things will happen in this, crypto has danger zone as well. Even if you get it in loan you have to pay the interest rates as well apart from that the installment amount has to be paid, which could lead your life in serious risk. So I would not recommend such stuff anytime.


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October 26, 2020, 01:23:58 PM
 #225

Bitcoin is a great investment but i still don’t buy the idea of loaning to buy bitcoin, it’s volatile and the price continue to rise and fall. The undisputable  fact about bitcoin is that it’s risky and loaning to buy it is not certain for profit.

Its risky as bitcoin is volatile and if market falls after buying then you will end up making loss in bitcoin and have to pay the interest and principal back if you cannot sustain after a certain fall. Though if the loan period is larger than you can still hold as bitcoin can bounce back and can rise but how much can be the holding period is uncertain. So quite a few conditions before buying the bitcoin on loans.

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October 30, 2020, 01:19:58 PM
 #226

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?
It could be suggested if it was 2017 or 2019. Because at those years the price of it was at a lower level and it was profitable to invest in BTC. But nowadays, how can you make a decision like this when the market is not predictable at all and there always have a high risk to get lost. Maybe you can do one thing, save your money and till you get another better chance.

2017 or 2019 has passed and now we know the situation in that year, but next year we don't know so don't be pessimistic, maybe next year we talk about the same thing in 2019 and 2020 we can do that. , but if I believe I am sure to borrow, just borrow as long as you are ready to take the risk, but if you are not ready to take the risk, don't borrow, and one more thing you have to do understand the crypto market and that must be understood.
Yes i agree with you that someone should understand crypto if he/she wants to invest from the situation that he mentioned. Also must have a mentality to take risk and ready for everything. But still he should wait and monitor the market before he goes with such decision.
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October 30, 2020, 02:53:34 PM
 #227

I think this is not a good idea to take a loan to buy BTC. Because buying BTC is an investment, when you invest somewhere you expect to get more than invested money. If you take a loan, you have to pay interest. The fact is, if you profit from investment for a particular time, your interest may be bigger than your profit. Then it will be a loss project. The other situation can be riskier if your invested project is lost then the loss of money plus interest will become a huge drop for you.

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October 30, 2020, 04:41:44 PM
 #228

Many people never still understand how businesse work. The strategy is not working for you does not mean is not working for others . Someone who took that risk 2016 loan to buy bitcoin which everybody was looking at the guy as a foolish person to collect loan to buy bitcoin why not loan to start a good business that will be bringing him good profit every blessed day. The guy know it very well that business is all about risk either you gain or you loss. The bitcoin he bought with loan 2016 and later release them 2019 when the market is like hot cake gain so much that make him to pay his loan and start a good business that is fetching him money every day by day.

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October 30, 2020, 04:50:56 PM
 #229

So many persons has written similar topics here, You need to understand that all this is your choice, Don’t seek for advice on it, because if the price of bitcoin happens to go lower from the initial rate you bought it, You won’t be happy, Do what ever you think is good for you, Look at the market analysis when to buy and when no to buy ok,
Bitcoin is a crypto currency it not a physical money.Do what ever you think is good for you ok.Bitcoin has a good vision but nobody knows when ok
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October 30, 2020, 05:22:07 PM
 #230

I will mever suggest for anyone to take loans to invest on bitcoin with the hope of the price will increase in the end of installment period. Investing 500 dollars every month is already a good for long term especially for your retirement plan so don't take huge risks.

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October 30, 2020, 05:30:54 PM
 #231

Bitcoin is a great investment but i still don’t buy the idea of loaning to buy bitcoin, it’s volatile and the price continue to rise and fall. The undisputable  fact about bitcoin is that it’s risky and loaning to buy it is not certain for profit.

Its risky as bitcoin is volatile and if market falls after buying then you will end up making loss in bitcoin and have to pay the interest and principal back if you cannot sustain after a certain fall. Though if the loan period is larger than you can still hold as bitcoin can bounce back and can rise but how much can be the holding period is uncertain. So quite a few conditions before buying the bitcoin on loans.


Although Bitcoin is volatile its still a good idea to invest on Bitcoin BUT it only must be done without borrowing money since it is risky because you might fall into deeper debt once you realized that you wont get profit from the investment that you  have made. Its only possible to borrow money without interest if you are borrowing from your closest friends since you know each other. Another thing we can do is earn Bitcoin without spending money since that is also possible.

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October 30, 2020, 05:47:27 PM
 #232

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 have never been in favor of buying bitcoin on credit.  And I wouldn't advise anyone to make such a decision.  This decision can be very suicidal.  The price of Bitcoin is never fixed.  I don't understand why you want to make a decision to buy Bitcoin with a loan.  If you have extra money, buy Bitcoin with that little money.  However, it is a small investment.  However, do not buy bitcoins on loan.  I don't think it will bring good results for you.

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October 30, 2020, 08:18:57 PM
 #233

I would say no to this proposal. I know bitcoin is a good asset and can be a good investment. But the main reason is bitcoin is so unstable and price is volatile. You can't say where will be the price of bitcoin go tomorrow. So, I can't buy bitcoin with a loan. I will take the risk till it's my own money.

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October 31, 2020, 07:41:12 AM
 #234

Bitcoin investment is pretty awesome but risky. And taking loans just to implement your plan in buying bitcoin is more risky as it may seems to me. However, if you are 100% sure and believe your capabilities in paying your loans whatever the results of bitcoin movement in the market, then you can probably proceed with this risky technique. I think I must called it twice risky. Because if anything went out negatively along the way, you will carry the burden of losing an assets and the burden of paying your loans monthly amortization which turned out into nothing. But, it's just a negative scenario of weighing things out if you will consider. Its still up to you to decide which is the right thing to do.
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October 31, 2020, 08:07:43 AM
 #235

Bitcoin is a risky investment. Never invest more than you can afford to loose. If you don't have money to invest in, you shouldn't take a loan.
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October 31, 2020, 02:44:22 PM
 #236

I would say no to this proposal. I know bitcoin is a good asset and can be a good investment. But the main reason is bitcoin is so unstable and price is volatile. You can't say where will be the price of bitcoin go tomorrow. So, I can't buy bitcoin with a loan. I will take the risk till it's my own money.
You're right. It is always good to risk your own money than borrowed money. I experienced personally in my life. I had little amount of bitcoin in my wallet, but I took loan to fulfill some home needs considering there'll be growth with bitcoin. My prediction went wrong and now I'm in debt paying interest. If I've sold at the right time I could've avoided debt.


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October 31, 2020, 06:47:36 PM
 #237

You're right. It is always good to risk your own money than borrowed money. I experienced personally in my life. I had little amount of bitcoin in my wallet, but I took loan to fulfill some home needs considering there'll be growth with bitcoin. My prediction went wrong and now I'm in debt paying interest. If I've sold at the right time I could've avoided debt.

I have a same experience like you. I took money from my close friend to buy bitcoin with 20% interest. But after 1month my btc was down and I had to pay him the money from my own pocket and also the interest. A bad experience. -_-

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October 31, 2020, 07:13:18 PM
 #238

The price of Bitcoin which is difficult to predict and volatile makes it difficult for us to get profit regularly. While loans must be paid regularly,
so it is too risky to use borrowed money to invest in Bitcoin. Better to use the money that we can afford to lose to buy Bitcoin, so when the
Bitcoin price goes down we don't panic. Due to many events we invest in Bitcoin with borrowed money, the price of Bitcoin suddenly drops.
And finally we have difficulty when we have to start paying the loan installments.

Mr.sprin
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November 01, 2020, 07:41:08 AM
 #239

some say don't use a loan for bitcoin investment, I can instead use a loan to invest in bitcoin, especially at the end of the year there is a big possibility that I will make a profit.

Wesleyeric
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November 01, 2020, 08:33:31 AM
 #240

Bitcoin is anonymous and it’s wont be wise enough to loan to invest in bitcoin. There are lot’s to consider before loaning and the risks involve. The price of bitcoin will continue to rise and fall, though we are positive and optimistic about the price of bitcoin in future but that’s still remain an assumption because the market is still unpredictable. So would you want to loan and venture your seed into something that is still skeptical and the price is being affected by lots of factors.

Bitcoin is decentralized and volatile, its not centralized and  the price remains unstable as many policies around the world still  affect the bitcoin . Before loaning to invest in bitcoin you should know it’s not centralized and the price can be affected by pandemic, war, or even natural disaster. Loaning to invest in bitcoin still remain a risk.
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