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shoreno
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November 02, 2020, 07:03:20 AM |
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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.
loaning a money is loaning a money no matter what time you do it . it is now november and we are now verry close to the end of the year and on top of that the price of btc are also on the top , is that what you are saying ? i cant say that loaning is bad because my family do also have an active loan but loaning is a headache especially if your salary were only small but in the position of the op he seem to be verry fine with his decisions because he has a solid background . he can easily get a loan with the amount that he was asking . |
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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Xinarae*
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November 02, 2020, 07:39:35 AM |
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Although it is bad to take a loan think it is better to take a loan for bitcoin investment. Bitcoin is a very lucrative currency and it is possible to repay the loan by earning a double profit if the price goes up. other jobs there will be an alternative method you will have to take a loan depending on your income. At present big businessmen have established their business with a loan. I just want to focus on a few online money transfer services that personal use and this and other blogs are a great source of my monthly income.
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oprahwindfury
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November 04, 2020, 04:09:45 PM |
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This is natural everyone has his own choice and the answer is I believe to play in safe side .So, I will try to grow with the situation. As well as I have a stable job so I will invest in bitcoin but will also make sure to balance my regular life.
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geyayy
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November 04, 2020, 06:15:31 PM |
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If I will be in your shoe, I would not risk that big. I mean, you are saying that it will not really affect you, but taking a loan just to buy bitcoin? You know that every crypto currency is having a volatile price, and you're not really sure what will happen next. But if I will be really in your position, I won't do it.
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Quidat
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November 04, 2020, 07:23:38 PM |
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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.
loaning a money is loaning a money no matter what time you do it . it is now november and we are now verry close to the end of the year and on top of that the price of btc are also on the top , is that what you are saying ? i cant say that loaning is bad because my family do also have an active loan but loaning is a headache especially if your salary were only small but in the position of the op he seem to be verry fine with his decisions because he has a solid background . he can easily get a loan with the amount that he was asking . It isnt really bad to take up some loans but be sure that you would really be responsible on repaying them.No matter what the reason for the said loan then it shouldnt really be on others business and just stick into what you do have in mind. If op did really make some $500 every month then pretty sure that he do make money as of this moment as the price had clinged up already and we are already on $14000 price and how much more if it would reach ATH? It wont really be that a problem of repaying that loaned amount. Of course theres also a risk when the price did go to the opposite way then its expected that it would really give out different result. |
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Naughty Princess
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November 04, 2020, 08:21:06 PM |
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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. -_- That is the reason why it is better to earn bitcoin than taking the risk to invest in bitcoin. Price is unpredictable. Invest from your own pocket which you can afford to lose. Loaning is not a good idea but a headache, if you can earn it, work for it. |
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matchi2011
Sr. Member
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Activity: 1456
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Buy $BGL before it's too late!
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November 04, 2020, 09:27:59 PM |
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If I will be in your shoe, I would not risk that big. I mean, you are saying that it will not really affect you, but taking a loan just to buy bitcoin? You know that every crypto currency is having a volatile price, and you're not really sure what will happen next. But if I will be really in your position, I won't do it.
You have different views I guess, considering that he's willing to take this loan believing that this investment will give him a great chance to earn decent profits, it's up to him on how he fully understand the business. We can't deny the fact that there are people who consider this venue of investment as great opportunities, though it's really risky but if you succeed and you get to the right timing you'll be compensated. |
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Gibreil
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November 04, 2020, 10:34:30 PM |
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It only works if you know the movement of the price. But when you have no knowledge about bitcoin specially with its technical analysis. Having a loan to trade bitcoin will become your big mistake in your entire life. If there are interests to be paid, I am sure that it would be a pressure to you to gain and bring back whenever you have losses. The best thing to do to buy bitcoin is from your own wallet. There are many loan defaulters because they think that bitcoin will give profits even when it comes from a loan.
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dunfida
Legendary
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November 04, 2020, 11:49:58 PM |
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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. -_- That is the reason why it is better to earn bitcoin than taking the risk to invest in bitcoin. Price is unpredictable. Invest from your own pocket which you can afford to lose. Loaning is not a good idea but a headache, if you can earn it, work for it. There indeed other ways instead of taking up some loan and as mentioned we can really make up some work or task which we can potentially earn bitcoin without the need of investing with our own money but rather just depending on the hardwork that we had done which i do see much more worth to do so but we know that not all does have the free time on dealing with it because some do have their own day job which means they can just go full time with crypto jobs just because of that hindrance thats why when someone do look up some opportunities here on bitcoin market they do tend to rush out and making up decisions that they would take a loan because they dont like to miss out the opportunity.It isn't really that bad but as mentioned above that we should be responsible on repaying it out. |
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Hemady17
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November 04, 2020, 11:55:13 PM |
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We have our own personal thought regarding to the topic. As I can see, most of the people don't want to buy bitcoin when it comes to loan. Actually, you can obtain good or bad results with it. Good results when your bitcoin grows more than 20 percent but bad results when you lose on trade and paid for the interests. It matters upon the person that hold it. If he has the ability to survive the market with a loan capital then he can make it. But we have to thing that investing in bitcoin will put your money in a risk.
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Darkelf11
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November 04, 2020, 11:57:43 PM
Last edit: November 05, 2020, 12:09:12 AM by Darkelf11 |
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If I will be in your shoe, I would not risk that big. I mean, you are saying that it will not really affect you, but taking a loan just to buy bitcoin? You know that every crypto currency is having a volatile price, and you're not really sure what will happen next. But if I will be really in your position, I won't do it.
It is really a big step if you are really brave enough and are about to loan just to buy bitcoins . There are many things you should consider before loaning, you must think first if you are capable enough of paying it until your due. Volatility of bitcoin and other cryptocurrency coin is another factor but ofcourse it is part of the risk that you are taking. If I will be in that situation I will not do it until it is really needed. |
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emmybd
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November 05, 2020, 08:06:47 AM |
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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?
Bitcoin price is quite high now, so the risk is very high. As you have got a decent job and you are doing quite well, so there is no need to take too much risk now. So, instead of taking loan now why don't you wait for some time when the bitcoin price comes down again then you can take loan and buy bitcoin. Because the price will not remain high forever, it will come down again some time in future. So, wait for that moment. |
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farrellronald
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November 05, 2020, 08:25:42 AM |
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It is UP to you man, as it seems that BTC has the potential to reach there and more even, it up to you to take the risk, you never know if it will stay up there or it will come down to even 8k or even less.
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Mr.sprin
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November 07, 2020, 02:09:49 AM |
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The price of bitcoin is unstable if you are good at monitoring the profit market on your part, but if you are not good at monitoring the market it can be either a profit or a loss.
Borrowing money to buy bitcoin is okay, but you have to be smart in the crypto world, because the money borrowed must be returned, but if you are not smart then you should not make a loan.
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anamul17
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November 07, 2020, 02:42:31 AM |
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People take loans to buy less profitable things as long as they know they can afford to pay back, @OP according to your post you can afford to pay your loan back even if btc pric is still within your buy point,
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erikoy
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November 07, 2020, 03:22:04 AM |
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This thread is a year old but I think there are stories here lie this one OP had been sharing or telling us here. There are really some members here taking some loans just because they wanted to invest in bitcoin and earn. As we all know that bitcoin is an asset like gold and that could be valuable in exchange to fiat currency that depend on the demand for bitcoin. The demand of bitcoin will also determine the price of bitcoin. The higher the demand of bitcoins the higher market price it will reflect and others are taking advantage by owning bitcoin just to earn as time passes by and bitcoind demand is growing.
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jademaxsuy
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November 07, 2020, 03:50:00 AM |
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I think it is too another way to earn bitcoin by taking some loans. Yes loans have interest applied to it but I think it will be going to get paid by the profit that could be earn in investing bitcoin. Imagine that you are investing bitcoi way back 2018 when bitcoin market is not that good and now we can compare that bitcoin is having good market to which even the loans with interest could be paid by the bitcoin profit as it seems that bitcoin market now has been doubled or even tripples from the last market for those who bought earlier.
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imstillthebest
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November 07, 2020, 04:01:50 AM |
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People take loans to buy less profitable things as long as they know they can afford to pay back,
whats that less profitable things , investment assets ? im not against to the loaner that does that because they can still see thier loaned money and they can still expect a profit compare to those people that buy non valueable things or things that cant be used for investment but as long as they wont run the company or the people that they have loaned , no problem with that . here the op wants to loan to buy btc , isnt that more valueable than the two scenario that we compare . there are long term loans and that is suitable for long term yield like btc . |
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palle11
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November 07, 2020, 04:51:06 PM |
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People take loans to buy less profitable things as long as they know they can afford to pay back, @OP according to your post you can afford to pay your loan back even if btc pric is still within your buy point,
It is risky to loan for it to invest into a coin that has no insurance if you lose to get it back. If someone is taking a loan for investment, it can be difficult to repay because you don't have money and that is why you go for loan. |
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