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cassavachips
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December 18, 2020, 04:33:34 PM |
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It carries a lot of risks and I would not recommend anyone to do it. But if you really have a steady income and enough to pay for the loan, it's up to yourself. But investing and trading in cryptocurrency is better to use funds that are free from any need so that when one day you experience a loss, there is no panic or excessive stress.
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Zemomtum
Full Member
 Offline
Activity: 1316
Merit: 104
CitizenFinance.io
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December 18, 2020, 04:55:14 PM |
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This will be the greatest risk of all time with this kind of volatility in the crypto space, I don't see it as an incredible approach towards any financial gains.
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sapnu
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December 18, 2020, 06:42:13 PM |
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I think getting some loan is good for only doing or creating some businesses but investing it on crypto is too risky, even if you are that good investor or trader, it is hard to gamble when the money is not really yours, you just borrowed it, you need to pay for that. I think the best way is that you should save some money for now and then after that, learn some good techniques depending on the way of making money that you prefer, whether it is investing or even trading, so that you can secure that even if you lose, you have no responsibility or any liability for that. But because you study, the probability will be lessened.
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isaac_clarke22
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December 18, 2020, 06:45:33 PM |
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Isn't your loan supposed to be used to something that you prioritize to cover?
It's not that it's a bad idea but you're risking something that you might not be able to pay when the time comes. Unless that the coin you invested does a price surge so sudden then you might.
It would be like a last second thing to think of doing.
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Lhaine
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Coinbene.com - Experience Fast Crypto Trading
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December 19, 2020, 11:14:40 AM |
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If you are a regular Twitter user and happen to follow a bunch of influencers or investors, there are high chances that you will have gone through some of the tweets claiming someone has borrowed a loan from bank to just invest into crypto. If not yet, check it here. Well, this is one really interesting topic so I though why not discuss here. What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy? That's dangerous idea to have a loan just because you want to invest in a investment that you know have a risk and have price volatility problem. If you want to have a loan do it for business reason not because of greed that you want to earn from investing it in crypto currency. Use your own money if you plan to invest in something risky like crypto currency it will only work if you have other alternative investment or money that you can use to pay the loan if for example you get negative in your investment in Bitcoin. |
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ranman09
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December 19, 2020, 12:25:10 PM |
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I wonder if there is a bank that would allow a loan for an investment like trading for crypto. Maybe if you are building a business or an ICO? Or if you take it off your credit card, which probably is a bad idea.
Plus, investing in crypto is too risky and you using a loan for it is surely not a good idea.
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trauchot
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Activity: 1764
Merit: 10
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December 19, 2020, 12:40:20 PM |
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In no case should you take loans and invest in cryptocurrencies, this is a huge mistake, because you, for example, will take a loan today and you will invest in cryptocurrencies, and tomorrow these same cryptocurrencies in which you invested will begin to fall in price and it is not known when these cryptocurrencies will start growing again, what will you do then? And there are a lot of scam cryptocurrency projects where you can completely lose all your money, so in no case should you take loans for investing in cryptocurrencies.
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kaya11
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December 19, 2020, 01:20:37 PM |
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It is dangerous, for me I would prefer selling my property than make it a loan collateral. That way I am able to know that my property is already gone, the interest rates are just way too heavy of a burden. Go broke with than paying your debts for years, well it is the case if we got the wrong investment of course, so if you to loan then have it think twice or else you would just giving yourself a headache.
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kpierce77
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Activity: 1540
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December 19, 2020, 01:31:31 PM |
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I don't recommend it, friend, because it can be risky if you can't estimate the percentage of profit to return the money you have borrowed, especially crypto prices that are uncertain and unpredictable. it's better that you don't have to take out any loan just to invest in crypto. use your personal money without exception
Yes, crypto is very volatile and has high fluctuations. is not a good decision if you can't be sure of the profit you can get. of course debt is something that if we can avoid it, even for me personally and I also feel that without a clear goals and also without a mature strategy, this method has a bigger failure precentage |
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Sled
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December 19, 2020, 01:40:02 PM |
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If you are a regular Twitter user and happen to follow a bunch of influencers or investors, there are high chances that you will have gone through some of the tweets claiming someone has borrowed a loan from bank to just invest into crypto. If not yet, check it here. Well, this is one really interesting topic so I though why not discuss here. What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy? I'd never think that it was not a good idea, in fact, some businessmen had come to that point asking for loans to their friends, from the banks to start their business. They'll come into a certain reason since they don't have another choice, it is used as a capital and it probably they can make a good return in the future and can pay their debts. What makes it wrong if you are taking loans just for unnecessary things. |
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tvplus006
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Activity: 2296
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To the Moon
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December 19, 2020, 01:48:43 PM |
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I'd never think that it was not a good idea, in fact, some businessmen had come to that point asking for loans to their friends, from the banks to start their business. They'll come into a certain reason since they don't have another choice, it is used as a capital and it probably they can make a good return in the future and can pay their debts.
What makes it wrong if you are taking loans just for unnecessary things.
The idea of taking out a loan to buy cryptocurrency usually occurs in a bull market, when it seems that this is 100% the right decision, because absolutely everything is growing in price. And such successful cases were in 2017, when some sold their homes and cars to invest in bitcoins. |
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bittreo (OP)
Copper Member
Jr. Member
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Activity: 70
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December 19, 2020, 03:28:41 PM |
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Most people sometimes make loans to fulfill their goals. well, I feel that it takes a lot of confidence. most likely a lot of people are already doing this in the cryptocurrency world, and I'm pretty sure that the goal is coins that have a lot of popularity and potential.
Personally, I instilled the principle in my life to avoid borrowing. because of this, I have not made a loan for investment purposes in the cryptocurrency world.
Similarly to yours, we haven't taken a loan in my entire generation and not planning take one. We have lived in bad situations but never took loan so far. So, this is not a chance, I think. But I wanted to know about opinion from bitcointalk members. |
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Cling18
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December 19, 2020, 03:35:48 PM |
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As for me, taking loans just to have funds to invest isn't a smart idea because we all know that the market isn't stable. The price of Bitcoin is volatile which simply means that our funds would be at risk and we don't have any guarantee that we could pay back our loan in time. If we would want to invest something then earning funds out of our own pocket would be better. It will be easier for us to set our own goals and targets.
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GbitG
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December 19, 2020, 03:43:42 PM |
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As for me, taking loans just to have funds to invest isn't a smart idea because we all know that the market isn't stable. The price of Bitcoin is volatile which simply means that our funds would be at risk and we don't have any guarantee that we could pay back our loan in time. If we would want to invest something then earning funds out of our own pocket would be better. It will be easier for us to set our own goals and targets.
This is really good point never take any loan from any one for investment because we have too many cases specially in sub-continent peoples take big loans and invested in stock exchanges mostly they fail to achieve targets and then at the end they commit suicide its really never been wise thing not only in crypto even in any investment or gambling just try to your skills and then achieve your targets because its much better and useful way to have some good profit from your investments. |
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Ryushin
Member
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Activity: 322
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December 19, 2020, 06:57:30 PM |
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You can take loan only if you know your way around crypto risks managements, if you are still new to crypto do not try it or else you will put yourself in a very bad situation, I've seen people taking their own lives because of debts, taking loan is one of those ways to forever lasting debt
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MonsterV
Legendary
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Activity: 2212
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December 19, 2020, 07:10:11 PM |
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Well it's not idea if you don't really know how to analyze market because you will be in a great debt if you are going to borrow from bank and the price of cryptocurrency crashed it's not really good idea to borrow money from bank to invest in cryptocurrency.
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tycsols
Member
Offline
Activity: 812
Merit: 10
BountyMarketCap
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December 19, 2020, 07:37:10 PM |
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If you are a regular Twitter user and happen to follow a bunch of influencers or investors, there are high chances that you will have gone through some of the tweets claiming someone has borrowed a loan from bank to just invest into crypto. If not yet, check it here. Well, this is one really interesting topic so I though why not discuss here. What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy? Yeah I jave read similar claims many times as well and sometimes it do work and people are able to pay back and keep the profits especially in a bull market but what about longterm downtrend? It can really trap all your money so for me it is a very risky strategy and you can end up in loss and depression if market does not go in your favor. |
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Nazmul012
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#SWGT PRE-SALE IS LIVE
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December 19, 2020, 07:43:27 PM |
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No.Taking loan for investment on crypto is nothing but a bad idea.most of people don't have any patient and want to get rich within overnight but they get poorer because they illegally start invest on Crypto.even expriance person may face loss by crypto investment, cause there is no surety & unpleasant thing can be occurred anytime.so always should investment the fund that can be afford.taking loan is so far.
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bitcon
Legendary
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Activity: 2212
Merit: 1008
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December 19, 2020, 08:17:58 PM |
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If you are a regular Twitter user and happen to follow a bunch of influencers or investors, there are high chances that you will have gone through some of the tweets claiming someone has borrowed a loan from bank to just invest into crypto. If not yet, check it here. Well, this is one really interesting topic so I though why not discuss here. What do you think of taking loan(s) to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy? Of course, this is a huge stupidity! loans for investment? Where are the guarantees that they will pay off? If so, you can really get rich, and if you fail, you can pay off your debts for a very long time. When thinking about investing in cryptocurrency, it is necessary to clearly assess the possible risks. |
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MUG1WARA
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December 19, 2020, 08:53:05 PM |
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Bitcoin price is unpredictable and can fall anytime within hours. If you borrow to invest in bitcoin, of course, it will have a very big risk.
borrowing then investing in bitcoin is the same as the lottery, if you are lucky (buy in 2018) and sell now you can definitely cover the loan and you also get a lot of profit, if you are not lucky then you will experience stress. so it's better to buy bitcoin according to the money we have and don't be too greedy. think about the risks too
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