Newbies take my advice

[slashz9]

well, actually it can be done or not depending on the situation and conditions many people see this opportunity in 2017 and try the next year, even though the market is still unpredictable, they think that the next year the market will rise again.
so the problem of borrowing money is not a problem because large companies that are developing must have debt.

[Stanlo]

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.

This warning is life saving for those who don't know, thanks for sharing, newbies can easily do this mistakes and end up in a pretty big bad debt, taking loan to open a business is good and big opportunity but taking loan for crypto is not a good move, risks are huge in crypto space

[Kong Hey Pakboy]

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.

This warning is life saving for those who don't know, thanks for sharing, newbies can easily do this mistakes and end up in a pretty big bad debt, taking loan to open a business is good and big opportunity but taking loan for crypto is not a good move, risks are huge in crypto space

Precisely. I experienced this kind of mistake way back 2018, which I loan a money to my friend, so I could invest it in a coin. Suddenly it all ends up getting myself having a big debt to my friend because from that time the market is down and it takes a long time for the coin that I have bought to increase.

[South Park]

Professional traders still lose money to trading, who would be so stupid enough to get a loan for trading when you can't even predict where the market is heading?? We even have many fake trading analysts in crypto space that comes out with fake predictions, well I know what's good for me, if you know what's good for you don't even try it

Since you are new to the forum and you seem to have the right idea about this it may seem inconceivable for you that people ask for a loan to trade or to invest, but believe me it is incredibly common, right now we are not seeing many cases like that since the ico fever and the hype for bitcoin has subsided, but in 2017 there were many stories of people that bought at the top of the bubble and lost money they did not even had, many held their altcoins until they crashed all the way to zero and now they have to pay a huge debt for which they got nothing in return.

[Kulkhan]

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.

Yes it is very Important for Newbies and New comers. I think we have to Aware about it. If we couldnot Aware about it we will fall very denarius situations. So i think it is very importantfor all of us. Many many thanks for your important information. And i yhink it will be very helpful for us in future in Bitcointalk.     

[totoy4741]

well, actually it can be done or not depending on the situation and conditions many people see this opportunity in 2017 and try the next year, even though the market is still unpredictable, they think that the next year the market will rise again.
so the problem of borrowing money is not a problem because large companies that are developing must have debt.

I don't think what happened in 2017 will happen anytime soon and we can't predict what the market is going to be like in coming days so borrowing money is not advisable especially now that we are still facing some financial crisis due corona virus pandemic. It would take a little time for the business and financial community to ba able to fully get back on track so better look for an alternative solutions rather than taking some risk with any certainty.

[Jonyshake71]

You have provided very helpful information mate. Newbies should never be greedy. They should gain the proper trading management knowledge first. After know well about trading, they can take loan but not more than their sustainability

[Gunday_07]

Crypto investment can be scary at times, it's a very good advice that newbies and others should invest only what they can afford to lose, the truth is there is no way to read the future of new altcoins to know which one will survive in two years time or four years time.


And again it's wrong to invest all you have on a single altcoin unless the Altcoin is a very popular top altcoin like NEO or EOS, if you are in for new altcoins diversity is the best strategy

[bluebit25]

You have provided very helpful information mate. Newbies should never be greedy. They should gain the proper trading management knowledge first. After know well about trading, they can take loan but not more than their sustainability

In order to make a profit from investing in this market, they need a lot of trading experience. And if they invest without experience, they will definitely lose money, and I totally agree with you. They can borrow money if they have experience in this market

[filterMX]

beginners are strongly advised not to take loans in crypto investing because some investors who have long been involved in the crypto world often also suffer huge losses

[greenlanternlight01]

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 totally agree with this. But who knows right, since most altcoins are somehow on the dip side, perhaps, having to try to invest just for an ample amount wouldn't hurt today. But of course, this is still my personal opinion and you shouldn't take my word for it.

[bits4books]

It is a pity that people generally come up with such a stupid idea as taking a loan for cryptocurrencies. How many classes of education do they have? 1-2? I understand when people who are already established and know the market do this - they fully understand what they are doing and know what to expect but when a newcomer comes to the crypto industry with credit money… This will cause  news of another suicide. This is very sad.

[bison]

It is a pity that people generally come up with such a stupid idea as taking a loan for cryptocurrencies. How many classes of education do they have? 1-2? I understand when people who are already established and know the market do this - they fully understand what they are doing and know what to expect but when a newcomer comes to the crypto industry with credit money… This will cause  news of another suicide. This is very sad.

who does something stupid like that? it would be better to sell the real assets we have than to have to borrow from others. it's like killing yourself by losing people's money. no one gives certainty that they will benefit in the time they planned.

[Bezobraznike]

It is a pity that people generally come up with such a stupid idea as taking a loan for cryptocurrencies. How many classes of education do they have? 1-2? I understand when people who are already established and know the market do this - they fully understand what they are doing and know what to expect but when a newcomer comes to the crypto industry with credit money… This will cause  news of another suicide. This is very sad.

who does something stupid like that? it would be better to sell the real assets we have than to have to borrow from others. it's like killing yourself by losing people's money. no one gives certainty that they will benefit in the time they planned.

   Bison, people who are doing this are people who are self-confident in their intentions. The same people learn from their mistakes,
after they make them. And we shouldn't bother about this, it's their thing what they do with their own life!
   What is important for us it to learn from other peoples mistakes, and if we made a mistake to not hurt us too much. It's what we
learn and what we need to teach our children and close people we know.

[devil2man]

before taking a loan in altcoin, investing or do trading we have to think about it a thousand times and be sure of what we are doing otherwise we can risk big losses

[Yatsan]

The basic and simplest thought of the OP would "invest what only you can afford" well that was already usual and I think a common sense that everyone must know because we all know that trading is a serious matter that you can either earn or loose your money. But most of the time the odds is playing on loose side most specially if you were just new into trading. So borrowing money is not really a great option to be done because it might just lead you into debts once the borrowed money have not been settled due to the reason that you fail on doing your trades.

If you really do want to try trading, be responsible enough to have your own money to start trading. Even small amount will do because it is still a price to take and you will be taking the risk to witness your money grow or die. Just always keep in mind that it is still best to trade by your own money so that if ever you fail on your trade, you have no other baggage on you thinking that you will just forget and try again for quite some time. Unlike when you borrow and loss, you were still going to think how can you be able to pay the money you borrow.

[mithun303]

For newcomers, i would say that it is better not to invest in the crypto market without proper knowledge about crypto market. But i was saying that newcomers should not come to this market. Before you come, you should know something about the market and take tips from big brothers and online.

[VIP BTC]

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.

Yes, borrowing money to invest in crypto is very risky, because the price of crypto is very volatile. If after we borrow money and buy crypto, then the price of crypto increases, then we can return our loan money. But on the contrary, if the price of crypto is down then our loan maturity has arrived, of course we have to sell the existing crypto to return the loan.
In this condition we will lose.
I think investing in crypto is with capital that is able to lose.

[coupable]

...borrowing money to invest in crypto is very risky, because the price of crypto is very volatile. If after we borrow money and buy crypto, then the price of crypto increases, then we can return our loan money. But on the contrary, if the price of crypto is down then our loan maturity has arrived, of course we have to sell the existing crypto to return the loan.
In this condition we will lose.
I think investing in crypto is with capital that is able to lose.

It's just like how it works in gambling or investing in ICOs based tokens, you don't have to play with more than you can afford to lose. Personally, i don't suggest users to borrow for those fields, as the risk is getting higher by the crazy volatility in price even if it goes higher for a certain period.
Seriously, i find it stupid to risk of getting a loan in order to risk twice in an unconfirmed investment .

[osasshem]

Investing in cryptocureency is a 50-50 thing, its either you lose all or gain all. It is adviced not to invest what you can't afford to lose, not to say, taking loan to make investment in cryptocureency is a hell of disastrous risk. Getting loan to make investment in cryptocureency if it goes bad, its a double lose to you, cause after paying back the loan, you're starting from square one again. NEVER TAKE LOAN TO INVEST IN CRYPTOCUREENCY rather, USE YOUR HARD EARNED MONEY TO INVEST. Stay safe.