angrynerd88
Sr. Member
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Activity: 910
Merit: 253
Hodlers Network
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March 14, 2021, 05:24:05 PM |
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Before taking loan make cos and benefit analysis also confidence over personal reserch and knowledge otherwise Credits not a great way to contribute in anything. You continuously have to be go from the inverse and think about what will happen in the event that you lose everything. Within the case of taking a advance, it is clear that it'll conclusion exceptionally severely for the borrower, and the cash will got to be returned increasingly each day, as intrigued for late installment will be amassed.
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Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
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Flowzer
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March 14, 2021, 06:31:31 PM |
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I believe using loan for investment is not a wise move at all.
If you want to get rich by using loans, build a f&b bussiness or another line of bussiness which will give you fast cash flow.
The profit from that activity, you can use that for any investment, inc cryptocurrency.
End of 2017, i loan 4000$ to get some rig of mining, fortunately for me i dont suffer any loss, but dont gain any profit too.
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tabas
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March 14, 2021, 11:39:21 PM |
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End of 2017, i loan 4000$ to get some rig of mining, fortunately for me i dont suffer any loss, but dont gain any profit too.
So not even a break even? I believe using loan for investment is not a wise move at all.
If you want to get rich by using loans, build a f&b bussiness or another line of bussiness which will give you fast cash flow.
The profit from that activity, you can use that for any investment, inc cryptocurrency.
You have to be specific, that's for crypto investment. Here's what we call good debt when we take loans for starting up a business or adding up a budget to our existing business. And that's a wise move because you're expanding what you have. |
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Flowzer
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March 14, 2021, 11:47:26 PM |
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End of 2017, i loan 4000$ to get some rig of mining, fortunately for me i dont suffer any loss, but dont gain any profit too.
So not even a break even? Fortunately i dont suffer any loss, that mean i reach break even, but its really stressful when you are on debt. So the loss is not on the financial sector, more like mentally broken  , But its really give me a experience. |
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tabas
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March 15, 2021, 09:20:38 PM |
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End of 2017, i loan 4000$ to get some rig of mining, fortunately for me i dont suffer any loss, but dont gain any profit too.
So not even a break even? Fortunately i dont suffer any loss, that mean i reach break even, but its really stressful when you are on debt. So the loss is not on the financial sector, more like mentally broken , But its really give me a experience. That's somehow sad but it's still better than losing it. I understand how hard it is when it has became stressful and made you mentally broke. Just look at the experience and how good it was and I think you have already moved on with that experience. So that's a good share that you've made and for sure have taught you a lot. |
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milewilda
Legendary
Offline
Activity: 3108
Merit: 1127
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March 15, 2021, 09:57:03 PM |
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End of 2017, i loan 4000$ to get some rig of mining, fortunately for me i dont suffer any loss, but dont gain any profit too.
So not even a break even? Fortunately i dont suffer any loss, that mean i reach break even, but its really stressful when you are on debt. So the loss is not on the financial sector, more like mentally broken , But its really give me a experience. That's somehow sad but it's still better than losing it. I understand how hard it is when it has became stressful and made you mentally broke. Just look at the experience and how good it was and I think you have already moved on with that experience. So that's a good share that you've made and for sure have taught you a lot. People would really get realizations through experience in most cases.I do really feel out on having that mental stress which is more devastating than on having some physical injuries or any other problems in body. Once mental stress is on you then you cant really think up that well just because you are afraid or worrying into something. Decision making skills arent really on that straight line due to that reason. Having debts alone is already a thing that could create such thing and better to avoid loans as best as you can and always take consideration on making decisions into this but if you do really find out some opportunity which it is worth to take some risk on getting some loan then go ahead but be sure that you do know on what you are doing. |
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tabas
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March 15, 2021, 10:16:33 PM |
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End of 2017, i loan 4000$ to get some rig of mining, fortunately for me i dont suffer any loss, but dont gain any profit too.
So not even a break even? Fortunately i dont suffer any loss, that mean i reach break even, but its really stressful when you are on debt. So the loss is not on the financial sector, more like mentally broken , But its really give me a experience. That's somehow sad but it's still better than losing it. I understand how hard it is when it has became stressful and made you mentally broke. Just look at the experience and how good it was and I think you have already moved on with that experience. So that's a good share that you've made and for sure have taught you a lot. People would really get realizations through experience in most cases.I do really feel out on having that mental stress which is more devastating than on having some physical injuries or any other problems in body. Once mental stress is on you then you cant really think up that well just because you are afraid or worrying into something. Decision making skills arent really on that straight line due to that reason. Having debts alone is already a thing that could create such thing and better to avoid loans as best as you can and always take consideration on making decisions into this but if you do really find out some opportunity which it is worth to take some risk on getting some loan then go ahead but be sure that you do know on what you are doing. It is your brain that's fighting for it and that's hard to bear. Honestly, I've been with that before but not due to trading or taking a loss or I can't pay the interests. But that happened to me through other experiences, not only once but a few times and it's really hard to tell if you're doing it correctly. As long as you're able to overcome it with whatever idea or way of fighting it, you're good. And I know the effect of taking loans that you have no idea if the path you're going to take will be worth it with that money. |
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Wawa2013
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March 15, 2021, 10:17:04 PM |
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It is true if we see Bitcoin price movements which continue to rise significantly, in contrast to what happened in 2017. But that is not a reason to use
capital from borrowed money, especially if we borrow money from banks that must be paid in installments every month. Remember we have a basic
rule of investing in Bitcoin, namely invest money that we can afford to lose, that means we should not use money that does have risks. If we use
capital from a bank loan, there is a debt burden that must be paid. Moreover, the price of Bitcoin is very volatile, there is no guarantee that the price
will not fall anytime soon.
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wiss19
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March 22, 2021, 07:24:37 AM |
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Actually I don't like taking loans to invest but I somewhat like his idea because the prices are actually only going up and if you take loans you don't pay much interest for a month and even some friends can lend you good amount of money for a month which you can use and buy Bitcoins in the middle of a bull run and just sell for a few hundred dollars profit.
If you just buy 0.1 Bitcoin at 50k and you just place sell orders at 51k then you earn $100 without any problems and in worst case the price falls down you can ask your friends for a few extra months to repay.
Hmmm  I am not sure about this and I wouldn’t advise anyone to take loan and be investing in Bitcoin, it’s always best to invest with your money and not all these loans. I always make sure to avoid anything that has to do with loan, and I would prefer that I work hard and get that money myself and invest it, than taking the loans. None of us are really sure about Bitcoin the way you have said, we can’t tell if it’s going to be increasing steady as you have said, price can still drop and you know that very well. But it’s all about you, you know what’s going to work and if you think the loan will work, then go ahead, but don’t forget to create other means that you will be able to pay back if things go wrong. |
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zanezane
Full Member
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Activity: 868
Merit: 150
★Bitvest.io★ Play Plinko or Invest!
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March 22, 2021, 07:32:40 AM |
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Loans are cheap if the creditor doesn't have a specific time frame as to when you are going to pay the loan which is close to impossible but likely and the loan doesn't incur any interest. Do not believe that loans can help you make money especially if you are just starting to invest in bitcoin because there is a high chance that losses will be happening and the only way to profit is a long term hodl which is not a good thing if that bitcoin was bought with a loan.
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mezzaluna
Member
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Activity: 518
Merit: 23
★Bitvest.io★ Play Plinko or Invest!
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March 22, 2021, 09:20:32 AM |
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There is no signs that Bitcoin will slow down! The risk/ratio reward telling that If the loans are cheap with low% its good to invest in risk assets like Gold btc and even property. Even better If you can do day trading swing or intra day even you make just 1-3% daily. If you have job and income and money to borrow its cheap now its not bad at all  The thought of getting a loan just to get into Cryptocurrencies is just scary for me because all investments made within this industry is risky and using someone else's money just to gain more is not a good idea if you do not have a great financial income. We know that its a good time to invest in btc but you will always have that thought of losing everything and not being able to pay back that loan is not a great image for someone. If you really want to get into Cryptocurrencies, you should use your own money because all decisions can be made wholeheartedly and you wont have to worry about losing any of it because its own by you personally. |
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iamsheikhadil
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March 22, 2021, 11:10:32 AM |
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Loans are cheap if the creditor doesn't have a specific time frame as to when you are going to pay the loan which is close to impossible but likely and the loan doesn't incur any interest. Do not believe that loans can help you make money especially if you are just starting to invest in bitcoin because there is a high chance that losses will be happening and the only way to profit is a long term hodl which is not a good thing if that bitcoin was bought with a loan.
Well, taking loans from financial institutions will just make it worse because of the interest amount to be paid as well as they set a fixed time within which one has to return the funds, so technically it's a burden on brain which will make trading less effective, while borring from friends and family and promising them that any profit you might make, you will give them a percentage of it, then that will be les burden and I think that's the best way and not taking loans from entities that will haunt you. |
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TedMosby
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March 22, 2021, 02:58:45 PM |
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do not spend/invest with money that you can't afford to lose. also, you know that bitcoin is against those banks. you take a loan from a bank for bitcoin. you are feeding those banks which will make it grow at. the same time, you want bitcoin to go up as well  instead of taking loans from financial institutions, try to read or watch videos about flash loan. https://www.youtube.com/watch?v=mCJUhnXQ76shttps://www.youtube.com/watch?v=ILBP38JrjTw |
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Alucard1
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March 22, 2021, 03:10:26 PM |
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Whatever the situation is, loaning is still risky when talking about cryptocurrency, you will going to regret it once you have failed from the investment because you still need to pay for the money you had borrowed, and that is frustrating because you have to pay for the money that have lost for nothing, you don't even use it to benefit you or someone. Just a friendly piece of advise, just save money so you can buy some amount of BTC instead of loaning.
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oHnK
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March 22, 2021, 03:13:26 PM |
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Loans are cheap if the creditor doesn't have a specific time frame as to when you are going to pay the loan which is close to impossible but likely and the loan doesn't incur any interest. Do not believe that loans can help you make money especially if you are just starting to invest in bitcoin because there is a high chance that losses will be happening and the only way to profit is a long term hodl which is not a good thing if that bitcoin was bought with a loan.
Well, taking loans from financial institutions will just make it worse because of the interest amount to be paid as well as they set a fixed time within which one has to return the funds, so technically it's a burden on brain which will make trading less effective, while borring from friends and family and promising them that any profit you might make, you will give them a percentage of it, then that will be les burden and I think that's the best way and not taking loans from entities that will haunt you. For people who are psychologically unstable, it will be a very severe burden to invest using debt. This volatile market condition is enough to make the psychology of investors and traders up and down quickly. Moreover, it is made worse by investing with borrowed money. So the psychological burden is double. But it's not a bad thing either if you can cover it, investing in debt is a cool and brave idea. |
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