Newbies take my advice

[LogitechMouse]

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations

I'm the one who tried this. Borrowed money in 2017 just to hold some EOS token.

Luckily, the one who tried to borrowed rejected my loan and after that I didn't tried to buy EOS token at that time. The rejection is somewhat a blessing in disguise though because the year after it was the year of hell. All coins including BTC went to a massive massive correction. If the lender gave me the money and bought EOS token, I would be in a huge loss right now and in heavy debt. Would say thanks to the lender though that didn't gave me money to buy EOS that time .

[Towerbreeze]

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations

I'm the one who tried this. Borrowed money in 2017 just to hold some EOS token.

Luckily, the one who tried to borrowed rejected my loan and after that I didn't tried to buy EOS token at that time. The rejection is somewhat a blessing in disguise though because the year after it was the year of hell. All coins including BTC went to a massive massive correction. If the lender gave me the money and bought EOS token, I would be in a huge loss right now and in heavy debt. Would say thanks to the lender though that didn't gave me money to buy EOS that time .

Consider yourself lucky, it would have been on hell of a fight for you to pay back the loan right now, many who took loan in 2017 are still in debt today, do not try such ever again, use your money to take risks not others money

[bittick]

Your advice will work for newbies obviously.Anything in crypto can be happened. For this we should be alert and should make proper analysis to enter altcoins market.

Proper analysis with a good risk management can make your loan successful.

There was no guarantee for our loan to be successful and even with the proper analysis and the market can turn into the reversal trend anytime. If there was someone use his loans to trade and when it was losing his money caused by the volatility and he can't do anything and he must also pay the interest.

[btccoffee]

Indeed i totally agree with your opinion and this opinion very famous in this furom, back in 2017 so many people are become so crazy when they saw bitcoin going up to 20k and so many altcoins also booming that time. If you get money from a loan and you buy at the peak price of some altcoins before then maybe until now you are still paying your dept with that loan.

[memed97]

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

Very good advice, and advice like you have given has also been submitted several times by my own teacher and this is indeed very true, because frustration because debt through crypto is very depressed can even result in suicide.

[gabbie2010]

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

Very good advice, and advice like you have given has also been submitted several times by my own teacher and this is indeed very true, because frustration because debt through crypto is very depressed can even result in suicide.

Borrowing money to trade or invest in cryptos is a big mistake in 2017 when cryptos peaked and reached AHT a lot of newbies borrowed money and invested blindly at peak price while the price dumped after some time thus many account were rekt, a newbie should take time and study how crypto prices move and know when to buy at low while selling at high with what they can afford to lose.

[homhay]

Crypto investment is indeed a very high risk, if we are new to the crypto world we must invest a small amount first, if we put forward our desires then the effect will be as you mentioned above.

[brrzzz]

You never need to go on about someone’s opinion (yes, read, analyze), you always need to look for primary sources and think with your own head and calculate your own funds that you are ready to lose, and even more then blame someone.

[Anonylz]

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

That will be a grave mistake to do that, all investments are risky but I think crypto is most riskier investment so it not advisable to be done with loan, better to make investment with personal money than loan, as much as it is highly profitable so is the risk, it is possible to lose it all within a twinkle of an eye, I hope newbies will learn from the experience of others in the past.

[Davian144]

Then that person should be ready to pay debt for the rest of his or her life, do you know how peaceful it is when you lose your money compare to losing someone else money??? Taking loan to invest in crypto is digging an early grave.

Yes, those who owe for the sake of investing in crypto are very ridiculous, because crypto is a very difficult thing to guess and the changes are always happening every day, let alone paying debt in the crypto world, paying debt in the real world is very difficult, so people who in debt for crypto is a very stupid person in my opinion.

[totoy4741]

If you are investing using your loan money then crypto is not the best choice to take venture in cause there is no guarantee of your money back. You are just putting borrowed money at risk, cryptocurrecy is very much volatile in a sense your investments can be gone in just click of a finger. Make yourself atleast knowledge enough before making any investments using your own hard- earned money.

[Santri]

yes I agree with what you say if we want to invest do not borrow money, especially if it has a sizeable interest such as borrowing at a bank. in the past when the price of bitcoin was above $ 15k someone in my country sold a house and borrowed money in a bank and after a bitcoin dump he felt frustrated because he suffered a loss and couldn't pay debt so he decided to hang himself. follow the OP recommendation

[gwaposakon]

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

I think it is important not just in crypto trading but in all others aspects of trading to know first how the market works before thinking of investing in it. The crypto market is so unpredictable and volatile that it will cause you to lose your hard earn money if you don't know how to trade. You much first learn and acquire a bit of confidence before trading.

[pragna]

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

Yea, borrowing money for investment here is very risky as this market is very unpredictable. But i can add here if anybody want to invest your money in any altcoin must read that coins roadmap first and company details also. On the other hand don't invest your all money in the same coins so that if you lose one coin you can recover by another coin.

thanks.

[el kaka22]

I do remember a guy in reddit who took out a loan against his HOUSE to buy bitcoin at a leveraged rate. I have never actually heard anything more insane in trading world, I have seen many crazy stuff but nothing beats that out.

Dude didn't sold his house or lost his house thankfully, he just had enough income to cover all the loan per month and probably still pays it to this day because it was a 5 year loan however he didn't had saved money aside so he said "if I can pay this loan, I will just assume it is savings" and took it out, obviously if he saved it would be a lot more because there is interest involved. Thank god he didn't lost his home because that would be a lot more upsetting to hear about.

There are tons of people who do these type of idiotic moves and I would never know why they think it is a good idea.

[omnik]

If you are investing using your loan money then crypto is not the best choice to take venture in cause there is no guarantee of your money back. You are just putting borrowed money at risk, cryptocurrecy is very much volatile in a sense your investments can be gone in just click of a finger. Make yourself atleast knowledge enough before making any investments using your own hard- earned money.

I guess a lot of newcomers and newbies aware about this and it looks like the majority of people who have borrowed some money used it to trade in the market. i rarely saw someone who invests in ico use the loan
The volatile is the main reason why we must avoid to do that. You're right about this.

[junkerr]

Crypto investment is indeed a very high risk, if we are new to the crypto world we must invest a small amount first, if we put forward our desires then the effect will be as you mentioned above.

Yes, if you are still a newbie in terms of investment, then it is better to try first in a small amount so that you do not regret if there is a loss, do not immediately prioritize the desire to get rich quickly, because looking for money to get rich is clearly not going to be easy for anyone.

the problem is that many newbies who have come up with new crypto investments are reportedly going into big exchange. but when registered on the exchange it will make their money disappear.

[Farma]

Borrowing money is also not so easy on the internet, you need to give more than just an identity to borrow it. however, so far, I have avoided as much as possible such things. the risk is too great if my calculations are not what I think. even more so if I use the money for investment or trading.

[adzino]

According your explanation, it's not because of they getting loan to invest in altcoins... Buy they decided to invest when FOMO and not learn what they invest for. Knowledge is the most powerful while you want to start invest, you shouldn't only following the analysts prediction. Not all analysts is expert and know about cryptocurrency. Most of them is only shilling their project/service.

Doesn't matter at what time they are investing, you should never take loans from someone else to make any kind of risky investment. Altcoins are actually a very risky investment. If you are planning to make investment of new altcoins, you are likely to suffer from huge loss.
Its best to invest using your own money. Better to invest small amount of your own money rather than risking someone other peoples money. If you can't afford to invest, then don't invest at all.

[fvb]

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

My friend took a loan in a bad situation and, as they say, took a chance. As a result, he gave a loan to the bank and raised a good percentage on the exchange. Now he has become a trader and lives on money, trading on exchanges. Deals only with this. Although earlier, he said that cryptocurrency is a hoax. I do not urge to take loans, but in life this happens in different ways.