Taking a loan to buy Bitcoin?

[elmuchodingdong]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

[1715410352]

1715410352

[Oshosondy]

I do not have to read all about your post before I will tell you taking a loan is not necessary. But if you think you can gain from it, you can try but you can expect gain and lose, this will make it difficult for you. I will advice you not to take a loan. The bitcoin market and crypto market generally are volatility, loan is not recommended for it.

[dothebeats]

Better you have a safety net for your plans, else this is putting your one foot into the grave considering that loans from banks are really brutal if you do not meet their desired deadlines for your payment.

At this point in time, I'm compelled to say that you can go ahead and take out a loan to buy crypto. However, being sensible and rational about this, the risk involved in loaned amount to buy crypto is way higher compared to your actual money that you are okay with losing. There isn't any guarantee that the profits that you'll get in crypto will outperform the interest the bank imposes on the loan. Plus, if your job right now isn't paying sufficiently to cover for your expenses and your loan, then you'd just be placing yourself in a lot of stress.

Even I believes that taking out a loan has become justified now more than ever, given the amount of attention it gets from all fronts of the economy right now. It's a risk I would dare take, although one I would not suggest anyone to do knowing that I'm partly responsible if someone loses money because they heeded my advice.

[ranochigo]

Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B.

Then you're just delusional. There is not guarantee that Bitcoin holds its value. Personally, I believe that it could be worth more than the value currently but I'm still classifying it in the smallest proportion of my investments. In case you've forgot, loans generally comes with a certain level of interest.

Do you think it is worth it? This might be a once in a lifetime chance.

No. If you don't have the means to repay the loan if all the money that you put into Bitcoin turns into zero the next moment (well, even if you do, how would you feel is you're suddenly in a debt of $20K?) , then you shouldn't do it. Cryptos in general are highly volatile, endangering yourself with higher than necessary risk is not advisable.

[Viscore]

...

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

You are certainly taking a high risk. There is no wrong with taking a loan for trading but see to it that you have any back-up resources to pay your loan once you fail in trading. You can't avoid losses in trading and if you only just rely on the profit that you may get from trading, that seems a burden to you. And that is really making no sense.

You better think about it now and try to listen to what we advise you. I'm not stopping you to take a loan but just be sure that it never compromises you in the future.

[samcrypto]

I personally do this during the bear market and now I'm happy that I made that decision before, but right now with the market condition, I think its too risky and remember that Bitcoin will not go up forever, expect the bear market to come in no time.

Know the risk of taking loan, and make sure that you can still pay that loan even if Bitcoin didn't go the way you want it but if you still experiencing a financial problem right now, then I will not suggest to take loan, just take it easy and work for extra money so you can invest on bitcoin without having any loans.

[LeGaulois]

@elmuchodingdong

That's a crazy idea to me.
Instead to borrow money with a loan and repay back $xxx per month, what about using your own money each month and buy bitcoins for $xxx using the dollar average cost principle? Even if the market continues to increase it shouldn't be a problem if you're so sure that it will go to the million.
At least if the market goes down you don't owe money to anyone and you don't put yourself "at-risk".

It may be tempting to borrow money but the risk/reward is too high. If you are in your twenties, working and living with your parents, you can get over it. But if you have a home and children, you may end up on the pavement. And it's something you don't want to.

At least that's something I would never do. It's like people taking a loan to buy a house and 10 years later they lose their job

[XZERO1]

Never trade/invest with the borrowed/loaned money and there's no exception, even if the chances of Bitcoin going down in price at this stage is minimal, you simply can not say there's zero chance and that means even 5% chance of going down could still happen and could practically ruin you financially.

Also one other thing>>> When the money you're investing/trading with is not yours and you have to give it back at some point, it could lead you to make irrational decision along the way, maybe bitcoin goes down for 10% one day and you all of a sudden start panic selling being scared of losing the money that wasn't yours in the first place, what all this means is that because you invested more than you can afford to lose there's more chance of not making the right decision at hard times(even if those are just small short-term dips in price).

[mk4]

While it definitely could work out in the end and that I think it's likely to do so, I definitely wouldn't risk the small chances of your plan failing.

Obviously a quick and easy NO for me. Why not just hustle today and earn as much money so you'd have more money to allocate into bitcoin? Taking the loan option is such a lazy and risky path to take.

[blckhawk]

FOMO I see. Anyway, It still your call, if you can take the risk then why not. However, as much as possible I wouldn't recommend taking a loan just to invest with Bitcoin. Though the market is now currently showing a good track don't be overconfident with it because we never know what are those big investors thinking, they might be buying right now but do you know exactly when they will take profit. But just like what I've said it is still your call if you think you will be able to take profit then it will be worth a shot but if don't get ready for consequences. That is why there is a rule that you should only invest the amount that you can afford to lose.

[DarkDays]

I personally do this during the bear market and now I'm happy that I made that decision before, but right now with the market condition, I think its too risky and remember that Bitcoin will not go up forever, expect the bear market to come in no time.

Here's a comment that aligns a little with what I was thinking. Taking a loan could be an advantage but given that the market has already undergone a pump the downtrend is banned to happen any moment now. 

If you take a loan you must also be prepared to lose it, so while you was suggesting a 20-50K loan, I would be careful with how much you take out.

Being in debt and out of money because of the market volatility will no be a fun situation to be in. You tend to forget that you should not invest more than you can afford to lose and from your post it doesn't seem like you can afford to lose.

I'd just be extremely careful and consider all the odds.

[Poker Player]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

It looks like you are going to do whatever you want despite the fact that most of the opinions expressed are against you taking the loan.

However, I will give you mine. Instead of taking a loan, see how much would be the monthly payment of the loan you intend to take and buy bitcoin every month with those amounts. You will have much less risk, you will sleep more peacefully and in the long term it will be very, very profitable.

What I fear is that you want to win at roulette betting everything on a single number and that is a matter of (a lot of) luck, not strategy.

[Reid]

I'm in the same position before.
But I am glad I didn't do it.
This could be addictive you know. When you start taking loans and then felt there is profit you might do it again until you are buried with it.
The same goes for when you think backward. You don't earn a profit so you take another loan and it will be a cycle of continuous debt.
I would not recommend that. I'd rather buy with my own savings even just for a decimal point of Bitcoin.

[MIner1448]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

I don’t think that a bank loan will lead you to financial independence, even if you donate all this money to invest in bitcoin. After all, the growth of bitcoin is very volatile and cannot be predicted, you can wait for a year to increase its price and the loan will remain.

[The Cryptovator]

It doesn't make sense according to me to buy bitcoin by taking a loan. I know you have confidence that bitcoin wouldn't fall, even fall you don't have a problem. The question is if you don't have a problem if fall then why not just buy whatever fund you have for your assets optimization? You may collect funds to buy bitcoin from the available source that you have currently from where you would back the lend amount in case of Bitcoin fall. I do not agree with any way to buy bitcoin in this situation with lend amount. Just remember what happened in 2017. Be patient and manage funds by yourself instead of taking a loan.

[Ucy]

First of all, I'd invest what I can afford to risk. It doesn't sound like you can afford to risk that much considering it'll be  borrowed money you probably are not sure of paying back.. By the way, I wonder what financial institution lends money without any sort of collateral, assurance or guarantee that borrowers will back. A secure source of income with sufficient pay would've lessen the risk abit for the lender and you.
Still I wouldn't invest everything in Bitcoin.

[isaac_clarke22]

~

If you're low on income meaning you won't have savings, then don't think about Bitcoin for now. There are a lot of outlets there to earn including freelancing,microtasking and even remote jobs. Focus on that first before you decide on Bitcoin. You know how unstable Bitcoin becomes overtime although it doesn't go zero. Losses are your most of the worries.
Loaning for something that you even aren't sure if you're gonna earn is a no-no situation.

[iv4n]

This is not the first topic of this kind... to take a loan to invest it, in this case in Bitcoin! I am sure some people did it, and if they chose a good moment for that now they are on horse, they can payout that loan and they book nice profit on top of that!
I will say what I always say, it's risky to take a loan for any kind of investment, it's something you do after you tried everything else! In the same time without risk there's no gain, so if you plan to do take a loan, be sure that you checked everything, and have some backup plan! Of course, try to find a good moment for investing in crypto, and I am not sure that now is a good moment for buying, especially with loaned money!

[boyptc]

Do you think taking out a loan makes any sense?

Do you think it is worth it? This might be a once in a lifetime chance.

No.

Just learn from the experiences of people on 2017 when there's a bull run and they've took loans. The next year, 2018, it made them in pure losses because they invested because of hype and not learning the process.

It's all on you. If you understand what you do and you can take the possible loss that's about to come, it's your take.

[In the silence]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

maybe this is logical and I read awhile ago that a person loaned from a bank and put it in bitcoin, now hes a millionaire and made his loan paid in full. But still you need to manage the risk you are putting yourself into.

I hope if you ever continue this, you might consider other coins as it has more space to grow and multiply your investments. Goodluck and take care bud.

[Mahanton]

Do you think taking out a loan makes any sense?

Do you think it is worth it? This might be a once in a lifetime chance.

No.

Just learn from the experiences of people on 2017 when there's a bull run and they've took loans. The next year, 2018, it made them in pure losses because they invested because of hype and not learning the process.

It's all on you. If you understand what you do and you can take the possible loss that's about to come, it's your take.

You can say too on the possible thing that will happen if the market tend to rise even more into that 2017 event where it can possibly be in result for you to make
even more money if it did really continue but to say that time that it was never anticipated that its already into its peak and tending to make out that
huge correction after that.No one did really anticipate nor expect for that thing to happen.Taking a loan for the sake of investment is really hard to consider.
You know that risk is heavier than on the possible reward unless if you don't rely into those profit to repay those loans then go ahead
but be sure that you are really risking something that you would still need to pay afterwards.

[Jaycee99]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

Bitcoin is really worth the time. I know I don't have any reliable source for what I am going to say, Now when I was scanning through social media I found out a man did something unexpected He bought bitcoin for 1 dollar and it was the start of bitcoin like not so many people know bitcoin. Now it was the present and bitcoin was totally in almost all the country knows it he later saw that the dollar knows become his Car.


My point of saying this story Possibly, from what I know Bitcoin will not go bye-bye, as long as there are people who are interested in bitcoin will go up and up. Bitcoin is worth the time but using a loan is a 50 50 move you have the chance to win and lose plus the bank might not allow it if they did there into bitcoin and you are something different which is like your business is into trading. Bank will investigate and won't just give you a loan is a snap. 


You having the capabilities to trade will make a 100% big win out of it but if not a chance a 50 50 what if it loses what will be mind then? it is okay to imagine but when you're doing it asap or your in the situation you'll regret it when every thing does not work properly.

[livingfree]

I do not have to read all about your post before I will tell you taking a loan is not necessary.

Yeah.

I don't have to finish the sentences too. TL;DR.

Btw, OP you're serious about taking a loan about buying bitcoin? it may not be a crazy idea for you and to others but we've heard several stories that rekt them with that decision.

Think many times before doing it.

[TimeTeller]

Do you think taking out a loan makes any sense?

Do you think it is worth it? This might be a once in a lifetime chance.

No.

Just learn from the experiences of people on 2017 when there's a bull run and they've took loans. The next year, 2018, it made them in pure losses because they invested because of hype and not learning the process.

It's all on you. If you understand what you do and you can take the possible loss that's about to come, it's your take.

You can say too on the possible thing that will happen if the market tend to rise even more into that 2017 event where it can possibly be in result for you to make
even more money if it did really continue but to say that time that it was never anticipated that its already into its peak and tending to make out that
huge correction after that.No one did really anticipate nor expect for that thing to happen.Taking a loan for the sake of investment is really hard to consider.
You know that risk is heavier than on the possible reward unless if you don't rely into those profit to repay those loans then go ahead
but be sure that you are really risking something that you would still need to pay afterwards.

The final decision is still on him, he needs to weigh his situation.
And consider that if things go sideways, can he pay the loan on time and not incur more debts?
He should not look into the scenario that bitcoin will continuously go up as the increase is not forever.
It is better to invest in crypto using your own funds. You are subjecting yourself into possible trouble if you will take a loan.

[Quidat]

I do not have to read all about your post before I will tell you taking a loan is not necessary.

Yeah.

I don't have to finish the sentences too. TL;DR.

Btw, OP you're serious about taking a loan about buying bitcoin? it may not be a crazy idea for you and to others but we've heard several stories that rekt them with that decision.

Think many times before doing it.

You wouldnt really need to think twice but thrice or even more when considering on taking a loan just because you do like to buy bitcoin.
Repaying the loan is really a hard thing to be done if you dont have any source of income for you to rely on and lets say you are depending
on the profits that  you can only make into your investment which i can say that this is a suicide.I'll rather buy bitcoin in small parts
with some small or ample amount of money at least you are confident that you arent really paying up something or does have due dates.

[kram31]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

I think you are just planning to hurt your own feelings in the future. Loan is not the solution to your problems in terms of money you need
dude. Besides, there are a lot of way for you to earn Bitcoin or cryptocurrency in this field of business industry. Because, in my case I already did mate, so if I make it, then you can also make it too, just be resourceful and observer here.

[Japinat]

I think you are just planning to hurt your own feelings in the future. Loan is not the solution to your problems in terms of money you need
dude. Besides, there are a lot of way for you to earn Bitcoin or cryptocurrency in this field of business industry. Because, in my case I already did mate, so if I make it, then you can also make it too, just be resourceful and observer here.

In some other way, taking a loan is an alternative for them to survive, some are using this to start their business, and OP is planning for a trade. They have the reason and that actually seems good since they can make a return from it unlike if they just spend traveling or buying luxury stuff.

He can be right about using it for trading but the problem is if able to pay it if he ever loses in trading. I think OP should be thinking also that scenario and he needs to have a back-up source that could help him in the case I'd mentioned. 

[Yatsan]

Getting loans just for the sake of buying Bitcoin is a big no for me. Many of us here have already been saying this once in a while but I think there are already many times that many member have mentioned this that only invest money that you have and you can attain to loose so that you will not take it too hard once it fails. Yes Bitcoin is massively increasing which many people are seeing it as a great opportunity to buy at this phase for there is somehow an assurance that you will gain profit but better think of it, you will be risking other people's money into no assurance that you can gain from it and will be able to give that money will borrow in exact time. Added by pressure that it is not your money you will be using, it is risky for your money is at stake. If you are really trying to invest or buy Bitcoin, better do it on your own based on the capacity and capability that you have so that you will not mess up.

[Ridwan Fauzi]

Indeed, the current bitcoin price movement will make many people get tempted to buy it. The price bitcoin hasn't met a huge correction until now, its price just make a sideway market a few days ago until not the sideaway market has been broken out.

Previously before I didn't know about trading bitcoin I always want to borrow money to the bank, especially when I got profit using my small capital, I was always motivated to borrow money from the bank.

But thankfully that never happened in my life, especially when I know how to trade. Indeed, I can get money easily from trading or investing but you I can also get lose and profit easily. It means, the risk is too high, I can cover it if I juat rely on trading/investing to pay per months to the bank. Until I realize that borrowing money for investing or trading is the bad way, you will never comfortable using the money and you have to know trading/investing need a good psychology.

[Wulan_maniez]

Actually for me to make a loan to invest in bitcoin is not recommended. Although bitcoin is bullish as it is now and it would be profitable if it made a loan. But what if suddenly bitcoin falls and you lose some of your capital. When considering the worst, making loans becomes a frightening scourge. But all decisions are in your hands, and this relates to your finances, whatever you make, it will hold you accountable.

[Zemomtum]

There is a popular saying that what you cannot afford to lose, do not invest in crypto. Taking a loan might be somehow risky. You should invest capital that you will not bother looking back on in the next 2 years. All in all, crypto is very volatile, it can bring joy and equally do the opposite

[nelson4lov]

There is a popular saying that what you cannot afford to lose, do not invest in crypto. Taking a loan might be somehow risky. You should invest capital that you will not bother looking back on in the next 2 years. All in all, crypto is very volatile, it can bring joy and equally do the opposite

True that. I've seen a lot of people get carried away and invest more than they can afford to lose. Most use a precious asset like their family property as collateral to get loans only to incur losses and eventually lose everything. It happened during the 2017 bull run that's why I'm not so surprised about OP talking about getting a loan. The only thing we can do is to make him aware pf the risks involved and if he can take it, then I don't see a problem with it.

There's also a popular saying that counteracts the quote you made - no pain no gain or no risks. no rewards
 

[vennali]

If its a loan with anything less than 5% interest, then I think I would consider it too. In reality, banks charge anything from 7-15%(or even higher depending on reason for loan) in interest which is a bit high while investing into a volatile asset. I know people have done it in the past and its been successful but I'm not sure how long the uptrend will last. What if Tesla cashes out on their Bitcoins? $1.5 billion gone from BTC's marketcap and the market would be on a landslide.

[LUCKMCFLY]

Buy and request your loan but only if you have the ability to pay, that is, you have to have the money every month to cancel your debt without touching the money you put in Bitcoin, those 20 thousand Euros you will put in Investment, that means that it is a money that you must forget about it at least until you achieve your goal, when you get benefits is when you can have that money, if you have the ability to live without that money but with your income then do it, otherwise I would not recommend it.

[ethereumhunter]

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

Taking a loan will make sense only if you can repay the money. If you can not repay the money and only get another expense, that will not make sense. Even if bitcoin will rise to $1,000,000, that is still not worth doing because we do not have the right estimation about when the bitcoin price increases. Yes, it is a once in a lifetime chance, but that is not worth it for you.

There is a risk for you that you should know because the price now still at $45k. Maybe you can take a loan for small or medium money, and make sure you can repay the money.

[goaldigger]

There's a so called good and bad debts, so if you are taking a loan to do business that can generate profit to you then that's a good plan but if you are taking loan just to get things for your personal satisfaction then that's a bad debts.

On your case, you're in a good debt but since you also have others loans I don't suggest to take another loan because that's a debt trap and don't rush into this market, there's always a good time to enter into this market so don't lose hope and be patience to wait for the next bear market. 

[Ararbermas]

In my opinion it's a good idea but not the whole things, cause it's not safe to put all of your eggs when it comes crypto currency..  Wherein its like you sacrifice your  whole money on it because of being so unpredictable  of crypto market. . So i suggest just to continue your loan
. However if you really want to  try to get some profits with BTC then just try a small amount and learn how it really works cause it useless if you jump in it and you don't have knowledge how to handle you investment especially during the fluctuations of growth rate in the market.  It's very scary bro.. 

[Sinjokubhi]

I do not have to read all about your post before I will tell you taking a loan is not necessary. But if you think you can gain from it, you can try but you can expect gain and lose, this will make it difficult for you. I will advice you not to take a loan. The bitcoin market and crypto market generally are volatility, loan is not recommended for it.

I think so, taking a loan to buy Bitcoin would be risky. because we cannot expect profit from the increase in Bitcoin which is not clear will experience this continuous increase. It's better if we walk with what we have now, don't be too pushy to borrow money. because if we experience a loss it will not have a big impact on us.

[Ucy]

This is not the first topic of this kind... to take a loan to invest it, in this case in Bitcoin! I am sure some people did it, and if they chose a good moment for that now they are on horse, they can payout that loan and they book nice profit on top of that!
I say what I always say, it's risky to take a loan for any kind of investment, it's something you do after you tried everything else! In the same time without risk there's no gain, so if you plan to do take a loan, be sure that you checked everything, and have some backup plan! Of course, try to find a good moment for investing in crypto, and I am not sure that now is a good moment for buying, especially with loaned money!

Ofcourse.
I really don't like taking loans for investments(even if I'm sure of profit), not to talk of  taking loans for things that won't be profitable. Will invest in something I'm sure will be profitable to enable me pay back and multiple the profit, but I wouldn't discourage people from getting loans if they have done their homework like you probably stated and are sure of earning profits from their investments. I believe this is part of what lenders should know about borrowers for the sake of the borrower and the lender.

[MWesterweele]

I think so, taking a loan to buy Bitcoin would be risky. because we cannot expect profit from the increase in Bitcoin which is not clear will experience this continuous increase. It's better if we walk with what we have now, don't be too pushy to borrow money. because if we experience a loss it will not have a big impact on us.

Reading from the title of the thread all that have come to my mind was the risks that the OP's idea will take. I'm not saying that taking a loan to buy bitcoin wasn't worth it but for me the risks of losing what you have loan and the thought that there is no assurance for it to earned even a small amount hunts me. I am not a pro taking loans to buy bitcoin because i do believe that there were some ways to have or to earn your own kind of bitcoin. Some were giving for free way back then year 2018 but now i guess it didn't exist but we have a signature campaign which offers altcoins or lucky if you could join in a campaign which giving bitcoin as its salary where you are not required to pay out or taking loans all you need is paying your time and learned from it.

[boyptc]

Do you think taking out a loan makes any sense?

Do you think it is worth it? This might be a once in a lifetime chance.

No.

Just learn from the experiences of people on 2017 when there's a bull run and they've took loans. The next year, 2018, it made them in pure losses because they invested because of hype and not learning the process.

It's all on you. If you understand what you do and you can take the possible loss that's about to come, it's your take.

You can say too on the possible thing that will happen if the market tend to rise even more into that 2017 event where it can possibly be in result for you to make
even more money if it did really continue but to say that time that it was never anticipated that its already into its peak and tending to make out that
huge correction after that.No one did really anticipate nor expect for that thing to happen.Taking a loan for the sake of investment is really hard to consider.
You know that risk is heavier than on the possible reward unless if you don't rely into those profit to repay those loans then go ahead
but be sure that you are really risking something that you would still need to pay afterwards.

No one has expected things to come positively in the market. Just don't do it because it's not really favorable.

And only invest the money that you can afford to lose and you've never asked for that's being owned by another person. It's best to invest with your own money than borrowed/loaned.

[youdacapt]

It doesnt matter which type of investment; the truth is that you should not take a loan for a start up investment; Trading or investing bitcoin should and must be done with a calm mind and peace of mind to; how can you trade bitcoin when you worry about a loan ? Never do that. Do your own research and trade bitcoin or invest bitcoin with funds you can afford

[dihari]

The volatility will kill from the inside as a loaner.
This is not the first time bitcoin sky rocketing, it's happen almost in every halving. And you know what exactly happen after the bullish trend, yes, if it's not stable it's going down.
I just want to warn you to never invest money you can't afford to lose. Always use some cold money to invest on something risky like cryptocurrency.

[Oasisman]

It doesnt matter which type of investment; the truth is that you should not take a loan for a start up investment; Trading or investing bitcoin should and must be done with a calm mind and peace of mind to; how can you trade bitcoin when you worry about a loan ? Never do that. Do your own research and trade bitcoin or invest bitcoin with funds you can afford

I don't think the OP would be trading. I guess he'll take a loan to buy Bitcoin and hold it, which does really make sense because Bitcoin will surely be skyrocketing caused by a lot of positive news that billionaires and institutions are heavily investing into Bitcoin. Taking a loan for investment isn't really a good idea most of the time, but as per the OP he would take a loan to buy at the current price where he considered as an "affordable" range while he has no money at this moment. I guess he can pay it on the latter when normal day job resumes. Nobody wants to be left out and find yourself buying at the peak just because you were saving money to buy Bitcoin. I guess taking a loan sometimes to buy Bitcoin while the price is still considered affordable is good, as long as you can manage to fix your finances with the additional loan.

[geegaw]

It doesnt matter which type of investment; the truth is that you should not take a loan for a start up investment; Trading or investing bitcoin should and must be done with a calm mind and peace of mind to; how can you trade bitcoin when you worry about a loan ? Never do that. Do your own research and trade bitcoin or invest bitcoin with funds you can afford

I am wondering why so many people are feeling anxious about a startup loan, don't talk too much about the risks that we can take, almost all investments or start-ups, starting to get rich always takes certain risks, fear only makes us more close to failure. Personally, I am thinking more openly on this matter, a loan to buy bitcoin is still possible but it needs to include a detailed calculation and exit plan, understand what we are investing in and stop, and as long as we have stable income, the loans can still be paid off

[Cling18]

I do not have to read all about your post before I will tell you taking a loan is not necessary. But if you think you can gain from it, you can try but you can expect gain and lose, this will make it difficult for you. I will advice you not to take a loan. The bitcoin market and crypto market generally are volatility, loan is not recommended for it.

I think so, taking a loan to buy Bitcoin would be risky. because we cannot expect profit from the increase in Bitcoin which is not clear will experience this continuous increase. It's better if we walk with what we have now, don't be too pushy to borrow money. because if we experience a loss it will not have a big impact on us.

We're always advised to invest what we could afford to lose so using a borrowed money would really be a big risk for us because there's no assurance of profit in crypto investing. Yes, the price of Bitcoin is promising right now but it's still better to use your own money so you'll never have regrets if ever you'll lose in the future. The market is still on the bullish trend so I don't think it's worth buying right now. There will surely be a correction in the coming days.

[isaac_clarke22]

~

Ofcourse.
I really don't like taking loans for investments(even if I'm sure of profit), not to talk of  taking loans for things that won't be profitable. Will invest in something I'm sure will be profitable to enable me pay back and multiple the profit, but I wouldn't discourage people from getting loans if they have done their homework like you probably stated and are sure of earning profits from their investments. I believe this is part of what lenders should know about borrowers for the sake of the borrower and the lender.

Who the heck thinks like that?
Isn't financial freedom being overlooked by some people? Thinking that you don't have obligations to pay anything because you owe nothing to nobody. Sure you're gonna earn your profit soon but someone will surely screw your day to steal all those profits along with the interest rate from the loan you requested.
If you can't invest right now, don't force yourself to.

[jasonjm]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

maybe this is logical and I read awhile ago that a person loaned from a bank and put it in bitcoin, now hes a millionaire and made his loan paid in full. But still you need to manage the risk you are putting yourself into.

I hope if you ever continue this, you might consider other coins as it has more space to grow and multiply your investments. Goodluck and take care bud.

I think this risk is worth taking. You know that the BTC market will pump to a new ATH in coming months and there will be no going back from that moment. Timing is everything in crypto market and with the institutions involved the chances of BCT hitting $60k this year are pretty high.

[k@suy]

I think this risk is worth taking. You know that the BTC market will pump to a new ATH in coming months and there will be no going back from that moment. Timing is everything in crypto market and with the institutions involved the chances of BCT hitting $60k this year are pretty high.

I agree, why not take risk if it will bring you fortune? maybe he is not a trader but an investor he clearly thinks that bitcoin might go higher as time passes by so I think taking loan and making some risky plays will gonna be worth it maybe next year or next next year, but he needs to pay the interest of course before it will make him rekt, that's the problem with loan the interest on it, as long as he believes that bitcoin will make him rich then don't stop him.

[Cherylstar86]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

For now I don't this is a brighter idea, Bitcoin was at the top value if we're going to analyze and taking that loans might be a failure. The risk behind was really big to what we think out of potential profit expected, so much better to wait for further instead of rushing out to earn something better. Though our aim is for gain, but it should be done by process and not by instant results.

[Evgenklm]

I always thought that a loan or a loan for the purchase of cryptocurrency is stupid, I do not change my opinion, a close friend took a loan for a trading account of $ 10 thousand and of course it did not work out with trading, a friend left a few hundred dollars, and you need to pay on the loan every month, so I do not advise anyone to do this.

[teosanru]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

At first, I thought you are talking about a loan of 20 Euros then I realized the decimal there means a comma and then I am like is this person in his mind? You are saying that you want to take a loan of 20K Euros from wherever I don't care and want to put it into a weekly overbought market? I'll have to be out of my mind if I were to do this. I think no one should do this unless 20k isn't a big deal for you. Cryptocurrencies are too volatile you might see a bear market creeping in within a couple of days which might last for more than 3 years who knows? Tesla has not taken up any loan to invest in crypto it was the excess cash that wasn't anyways parked anywhere therefore crypto is a great investment for this excess cash in a span of 10 years. Unless you are a magician who can predict which coin would go up tomorrow I suggest you stay away from such thoughts. I have seen a lot of such people committing suicides at the end.

[CryptoMargo]

I perfectly understand your regrets. But it’s risky indeed. I still not sure whether it is a good idea to take loan and to buy BTC now. It's All-Time-High. Maybe it's better to wait till correction or if you have some other crypto you can exchange it on BTC and try to play shorts to get some profit. Sure if you’ll buy BTC even now once you will get grains but that may last for years. All this coronaviruses or any accidents can influence on possibility to return loan.

[Shasha80]

I don't agree to buy Bitcoin from borrowed money, because as we all know the price of Bitcoin can fall at any time. Don't just watch the Bitcoin price
go up dramatically, make us lose our minds and take risky actions. Why not buy Bitcoin from part of the salary you make, especially if you can afford
a salary of $ 7000. Don't be too greedy in pursuit of profit, we must be able to control our emotions when investing in Bitcoin.

[Hobo66]

I think Taking loan for trading is not a good choice. Invest in bitcoin which you can easily afford.
I hundred percent believe that bitcoin price will. Go up and you will get a pretty good profit from it but taking loan seems not good..
Every one has own view and own thoughts so do at your own risk

[senyorito123]

I think Taking loan for trading is not a good choice. Invest in bitcoin which you can easily afford.
I hundred percent believe that bitcoin price will. Go up and you will get a pretty good profit from it but taking loan seems not good..
Every one has own view and own thoughts so do at your own risk

Right mate, we don't know that loan terms could be paid off within the time you're holding an asset of btc. Who knows one you've bought huge amount of holdings, suddenly crash will come along. You aren't sure how to handle stress and debts in the reality of loans, pressures will make you exhausted in the midst of payment. Much better if you're going to save some portions of your salary if working, then hold small amount of bitcoin for long terms and keep accumulating.

[Noctis Connor]

I think this risk is worth taking. You know that the BTC market will pump to a new ATH in coming months and there will be no going back from that moment. Timing is everything in crypto market and with the institutions involved the chances of BCT hitting $60k this year are pretty high.

I agree, why not take risk if it will bring you fortune? maybe he is not a trader but an investor he clearly thinks that bitcoin might go higher as time passes by so I think taking loan and making some risky plays will gonna be worth it maybe next year or next next year, but he needs to pay the interest of course before it will make him rekt, that's the problem with loan the interest on it, as long as he believes that bitcoin will make him rich then don't stop him.

Im both agreed with your statement since his planning to take a loan just to buy bitcoin it is really that risky but well no one can say the fortune of bitcoin since it is still in the bull run after the halving no one can clearly determine the price of bitcoin  but for having a loan just to risk everything how if this stopped suddenly? It is much better if he has work that can company can cover his loan and if not then he should find some alternative where he can really start from the scratch and learn from his mistakes too not only by reading and take the risk no matter what the result is.

[adaseb]

In the past there were people who took out loans and sold their houses to buy crypto, it paid off however it was stupid risky and honestly you should never borrow money to invest. If you do that, its not considered investment really more like gambling. Reason why is because investments are generally with money you have and you want the money to grow so you invest it. However if you don't have any savings, and instead need to borrow money to invest then it becomes very emotional.

Since the money is not yours and you will be required to pay interest on it, you will become very emotional. Most likely it will go against you a little and you will pull out and then it might actually keep going higher and higher.

My advice, never borrow any money to trade or invest.

[adzino]

-snip-
Do you think it is worth it? This might be a once in a lifetime chance.

No, I don't think it is worth it. Don't forget "Invest what you can afford to lose". Since you can't afford to invest, and you have to take loans, you can't afford to lose those loans. Hence, don't invest! It is not worth at all since its a high risk investment unless you are planning to invest for long term.
Why take loan in the first place? How about you save some money and instead of keeping those in bank, invest in bitcoin and keep holding for long term? You will make some nice profit in the long run!

[Smartvirus]

In my experience or should i say from my point of view, it would be very wrong or bad to take a loan solely for the purpose of investing in an uncertainty commodity. Bitcoin or cryptocurrencies are uncertainty currencies following the fact that, they are highly volatile in such a way that, they can always go either ways (Bearish or bullish) and at some point, it could move in a range around a consolidation zone.

One major rule in investing is, 'Do not invest more than you can afford to loose'. By using a loaned capital to invest in this sort of uncertainty trade, you've already bridged that rule and is subject to its consequences should it go a different way other than your analysis tells you. For all we know, no one can be completely certain of the market direction at all times. A bullrun was just said to be concluded and here again is what looks like a continuation or trick by market movers. So, you can never be so sure!

Its also important to note that, loans comes with interest, an interest that grows with time and must be paid in due time. Hence, investing with a borrowed money is a sh*t move and you must be ready for the consequences should you invest wrong.

[ubercool]

I have been asked these types of questions in the past and even today by my friends/relatives.

The answer is NO. Never invest in anything by taking loans. There were people 2-3 years ago who did this, and most of them are bankrupt now. It's not easy to pass the correction period if you don't have reliable financial support on your back. I believe in crypto and Bitcoin, but I know the real-life conditions when you don't have anything in the pocket and have to pay back EMI before the end of the month. It is not as easy as you imagine.

I think most of the people have given the same suggestion. Invest only what you afford to lose.  

[Issa56]

I can't really read all your post but I just glance true it but from the experience am having in crypto I will definitely tell you not to borrow money to buy any coin. In Cryptocurrency don't every try to borrow money to invest in any coin or don't even invest all your funds in Cryptocurrency always make sure you in invest like 30-50% of you funds in Cryptocurrency. Am talking from experience there was on of my friend who borrowed money few years ago to invest in Cryptocurrency the coin he bought ended up dumping and was unable to rise again the money he invested was a hug amount and he lost all his funds and got bankrupted, he have to be using his salary to pay back for the loan he took. So I won't advise anybody to take loan just because you want to invest in any cryptocurrency and always trade or invest what you can afford to loose. Don't invest all your funds and always invest what you can afford to loose don't invest all your capital in Cryptocurrency.

[ethereumhunter]

Taking loan is not the answer for you to buy bitcoin, because you buy bitcoin without taking any loan there is a some way you can you can save some money and if you think your money is enough you should buy and start earning, it is very dangerous for the person for them to do loan and taking investing because there is no assurance that you will earn what if the money you use is from loan and you lose it how you gonna pay your loan if you are not earning money.

Maybe the first thing that he needs to know is about managing his money, so he can see that he will have some money to invest in bitcoin by managing his finances. If he can have some money, he does not need to take a loan bitcoin because he can buy bitcoin with his own money and hold it for some time. After his bitcoin can grow by always investing when the price is down, he will have a chance to profit in the future. And if he sells his bitcoin at a high price, he will see that his profit will be bigger.

[sana54210]

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

Fortunately everyone talks about how this should not be done, and I agree that this should not be done as well, I find it very wrong and nobody should even attempt it. However I also want to point out something that would be a bit understandable why others do it, not that I approve but I want to show why they think it is okay.

First of all if you are taking much bigger amounts then you can afford, you are going to end up losing a lot of money, and that is not okay, that is going to hurt you a lot, however a person I know took out 30k, paid in 600 dollars per month, and he makes 5k per month, he can live with that debt even all of the loan he took becomes zero, he can pay that. So what did he do? He invested into AMM type things on binance smart chain, specifically on bdollar.fi and he made that money into 4x more plus the income he made from it as well. So, I think I understand why they do, not that I agree with them but at least this method makes more sense than some crazy people who take max loans they can't pay and go into crypto.

[goinmerry]

Even with the bright, good, stunning, and positive speculation about the future of bitcoin, you are just making another problem.

Loans have payment terms and you need to follow them to avoid paying more interest. What if things have gone wrong on the way? Are you willing to gamble everything? Calmly think about what's the best thing to do. Try to be patient and you can found work someday. Seek any possible opportunities either on day jobs or online. You can also try to open a small business based on what you think is the better.

[livingfree]

There were people 2-3 years ago who did this, and most of them are bankrupt now. It's not easy to pass the correction period if you don't have reliable financial support on your back.

I have never heard any single of those people that did this in the past that have managed to take the risk that we have managed to overcome for the past years.

That is the reason why an investor shouldn't take this type of risk. It's fine to take all the risk as long as you own the money and it's from your savings or profits from other resource but not from loans. Very risky move that someone will regret just as those who did it before.

[aesma]

Regular people take loans all the time to buy stuff, and much more rarely for business. "Investing" in Bitcoin as in a business is indeed the wrong approach, as Bitcoin doesn't offer a return, let alone a guaranteed return.

Now, if you were going to take a consumer loan to buy a TV, a car loan to buy a new car, or a home loan to buy a new home, then you should be able to take a loan to buy BTC, for example by keeping your current TV or car. You should be able to repay it whatever happens to BTC's price.

Now, is that a good idea, I don't know, but it's not the worst idea I've heard, at least.

[sayaya17]

Bitcoin shows better  prices from  week to  week. Of  course  with  the  state of this  lucrative  market a lot  of  FOMO,
even to invest there are still people who invest from loans. I'm not actually suggesting looking for a loan just because
you want to invest in bitcoin, but no matter what capital you have it is the best, not the loan.

[MWesterweele]

-snip-
Do you think it is worth it? This might be a once in a lifetime chance.

No, I don't think it is worth it. Don't forget "Invest what you can afford to lose". Since you can't afford to invest, and you have to take loans, you can't afford to lose those loans. Hence, don't invest! It is not worth at all since its a high risk investment unless you are planning to invest for long term.
Why take loan in the first place? How about you save some money and instead of keeping those in bank, invest in bitcoin and keep holding for long term? You will make some nice profit in the long run!

Indeed planning to become a trader or investor first and foremost you should have your own capital that you can use to start your plan investment but the idea of taking a loan to buy bitcoin was a total kind of risk taking. First, because here in cryptocurrency we should always keep in mind to invest what we can afford to lose but first thing was you didn't have your available principal to buy bitcoin then literally whenever you may get lose expect that you may fall on debt.

[Kelvinid]

Bitcoin shows better  prices from  week to  week. Of  course  with  the  state of this  lucrative  market a lot  of  FOMO,
even to invest there are still people who invest from loans. I'm not actually suggesting looking for a loan just because
you want to invest in bitcoin, but no matter what capital you have it is the best, not the loan.

I'd never a negative insight to this, committing loan for investment, that seems good because there is a purpose, in fact, some people are getting a loan for fancy things, buying luxury items, we don't get any money from this unlike if you are putting this into business or something like an investment.
I support you OP and those people who are doing this but see to it that you are willing to do this and you should have to take responsibility for your loan. And before deciding this, ask your self first if you are fullest ready to what will happen along your trading journey, think about that this gonna be tough.

[semobo]

There were people 2-3 years ago who did this, and most of them are bankrupt now. It's not easy to pass the correction period if you don't have reliable financial support on your back.

I have never heard any single of those people that did this in the past that have managed to take the risk that we have managed to overcome for the past years.

That is the reason why an investor shouldn't take this type of risk. It's fine to take all the risk as long as you own the money and it's from your savings or profits from other resource but not from loans. Very risky move that someone will regret just as those who did it before.

Investors can use the money from a loan on risky investment but only when they have a lot other sources of income other than salary and crypto earnings because the life of an investor never going to get safe because they are investing based on speculations which may or may not work but at least they need to be prepared to face the possible outcomes is recommended.

[FanEagle]

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

Not everyone can save too much money, so to get the money as a whole to try to outpace the debt is a smarter move for some people who think they could pay the loan back. I for example had a problem like that, when I had the money I just spent it, but when I was forced to pay a debt that I suddenly had (health related thing) I paid it and never really had a problem with it, which means that I actually had enough money to put that money aside before the situation and I didn't, I was only capable of paying it because I was forced to, but given the chance I didn't just saved it aside.

Afterwards I learned my lesson and put it aside for a bit, then took out a very small loan, and tested if I can pay it, I did and now I know that I can take a loan if I want to, small amount like 100 bucks per month and I can pay that loan back 100 bucks a month while the combined would be like 6k dollars or so, which isn't a small amount in my nation but I will be capable of investing that 6k and make it more if I want to.

[Oilacris]

There were people 2-3 years ago who did this, and most of them are bankrupt now. It's not easy to pass the correction period if you don't have reliable financial support on your back.

I have never heard any single of those people that did this in the past that have managed to take the risk that we have managed to overcome for the past years.

That is the reason why an investor shouldn't take this type of risk. It's fine to take all the risk as long as you own the money and it's from your savings or profits from other resource but not from loans. Very risky move that someone will regret just as those who did it before.

Investors can use the money from a loan on risky investment but only when they have a lot other sources of income other than salary and crypto earnings because the life of an investor never going to get safe because they are investing based on speculations which may or may not work but at least they need to be prepared to face the possible outcomes is recommended.

Plan B's is a must or even more when you do make an investment and there's always a risk accompanied with that and you should really be aware and also

taking some loan because you do tend to make an investment here on crypto would really be involving a lots of risk and as mentioned that you should consider
that you do able to pay up those debts without relying into your crypto investment.

Simply talks about other sources of income that would able to patch up or compensate on what you had borrowed.If thats the case then i dont see any
problems at all as long you do know  that you are able to repay those back.

[abel1337]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

In my personal opinion, This is a very big no-no for me. Loaning to buy crypto is not the way. Getting into debt is risky knowing that you don't have a stable income today because of the pandemic, you don't have an assurance to pay for it or your plan might be go upside down. I know that you know that his plan is risky but consider your own quality of life if your plan fails.

Your speculation is very positive towards bitcoin but today we are nearing the correction period and it might not the time to accumulate some.

Remember to just invest what you can afford to lose.

[livingfree]

There were people 2-3 years ago who did this, and most of them are bankrupt now. It's not easy to pass the correction period if you don't have reliable financial support on your back.

I have never heard any single of those people that did this in the past that have managed to take the risk that we have managed to overcome for the past years.

That is the reason why an investor shouldn't take this type of risk. It's fine to take all the risk as long as you own the money and it's from your savings or profits from other resource but not from loans. Very risky move that someone will regret just as those who did it before.

Investors can use the money from a loan on risky investment but only when they have a lot other sources of income other than salary and crypto earnings because the life of an investor never going to get safe because they are investing based on speculations which may or may not work but at least they need to be prepared to face the possible outcomes is recommended.

They may not anticipate how hard it is to catch up the volatility of bitcoin.

It is the main reason why those loan takers who did it on 2017 got burned. They thought that it was an unstoppable train on the next year but we've seen what's next.

I'm a bitcoin bull but with that risk that they invest the money that they own plus the interest that they'll have to pay, it's not really a good idea.

[EdwardM290]

Well, it makes quite a lot of sense IF AND ONLY IF you're thinking in the long term man...
Just be sure that your interest rate isn't too high!

[Pamadar]

There were people 2-3 years ago who did this, and most of them are bankrupt now. It's not easy to pass the correction period if you don't have reliable financial support on your back.

I have never heard any single of those people that did this in the past that have managed to take the risk that we have managed to overcome for the past years.

That is the reason why an investor shouldn't take this type of risk. It's fine to take all the risk as long as you own the money and it's from your savings or profits from other resource but not from loans. Very risky move that someone will regret just as those who did it before.

Investors can use the money from a loan on risky investment but only when they have a lot other sources of income other than salary and crypto earnings because the life of an investor never going to get safe because they are investing based on speculations which may or may not work but at least they need to be prepared to face the possible outcomes is recommended.

If they have it then yes, Other sources of income means that they are  capable of paying the loan.

Whatever happened with their risky investment, they have money to pay for it coming from he's own pocket, it's worse if he'll loan then if he failed he'll look for another lenders just to pay his previous loan, either use your  spare money or you have many sources of income and not just your monhtly or weekly salary that you are using for your family or your own personal needs.

[ice18]

I will rather sell some of my property to invest in crypto instead of borrowing into lending or banks with very high interest rate the market condition right now is so bullish that you can really think of having a loan if you have no enough money to invest in crypto but its too risky you will end up losing more money or you will also earn huge and paid your loan in advance if the market favors you this is like a gamble you really dont know what will happen always think 100x before spending huge money in crypto.   

[FIFA worldcup]

Well, it makes quite a lot of sense IF AND ONLY IF you're thinking in the long term man...
Just be sure that your interest rate isn't too high!

It is risky to get loan to buy bitcoin at this time. Bitcoin is about to reach and this is a psychological level and we can see a pull back once bitcoin touches 50K. If you take loan to buy bitcoin and then bitcoin dumps, you will be in a big loss. I would never recommend anyone to buy a volatile currency like bitcoin by taking loan. You should only buy bitcoin with your own money which you can invest for long term.

[semobo]

Simply talks about other sources of income that would able to patch up or compensate on what you had borrowed.If thats the case then i dont see any
problems at all as long you do know  that you are able to repay those back.

This is what I said about facing possible results and since they have multiple sources of income they can be able to repay the loan without defaulting it and they can make the lost money with their other investment profits later on.

[elGee]

I'm also looking at a loan but I am also making sure I can switch from Bitcoin to other cryptos quickly. I have alerts set up to let me know of price swings - too low, get into something else, above my high limit, draw off some of it so that I am left with my original stake.

At the average growth of Bitcoin since I came back to the market last year, I will have earned the entire interest on that loan within 5 months, and be able to repay the loan within 8. It is for 36 months.

It would be wise to make a spreadsheet to show what happens to your stake versus swings in price, especially looking at what gains have been made before.

It is also important to be aware of the outside, non crypto world.

Remember Jamie Diamon (boss of a big bank) saying Bitcoin was a scam (I think in 2017)? I was in the market then, and took that as a sign that he and the big banks are scared. I left when the Chicago Exchange announced they were going to quote futures in Bitcoin. One big boy from the conventional market will try to bend that market. Price went from around $20k to $8k in weeks.

Now look, the richest man in the world invests and several other major players are thinking about it. I have seen forecasts from large banks saying the price will hit anything from $100k to $600k by the year end. I don't believe that but what I do know is that it is important to do research.

That does not have to mean hours of dull reading. There are plenty of sources offering newsletters. Read the headlines and watch for anything that will lift the price then read the detail and make your judgement on if that will hit the price and if so, which way.

Also, watch mainstream news, search them for mentions of bitcoin and keep an eye out for articles mentioning it. Recent gains have attracted the Guardian, Express big UK newspapers) as well as the BBC.

There's no such thing as bad publicity! The wider that Bitcoin is known, the more it is accepted.

The point of skimming profits is so that if the market goes south, you can make the payments on your loan until it recovers.

Crypto is the future.

This is my opinion and I encourage you to make sure that if you take a loan, that you can afford the payments. HTH

[doomloop]

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

When I read the topic I was going to say No at first and when I finished reading the post and the explanation you have made, I don’t know if I should tell you a yes or no. What were you doing all this while when the price of Bitcoin was very low?

If you said this when the price of Bitcoin was $20,000 or less I would have said a yes based on the explanations you have made and also because back then o had a strong believe that the price will get to $30,000. But this time around I can’t tell where we are heading to, although I have seen the news of Elon Musk and Tesla and Microstrategy and the rest of them, but I still can’t tell you for sure.

[Hobo66]

If you believe that you will recover yoir loan in few days and you will earn some profit than its all right. No issue with loan but if there is not sure that you will earn and price may be down then my advise "stay away from loan" invest which you can afford.

[Oceat]

Well, it makes quite a lot of sense IF AND ONLY IF you're thinking in the long term man...
Just be sure that your interest rate isn't too high!

If I were in OPs position I wouldn't risk taking a loan just because they have seen a promising outcome of Bitcoin this time. Cryptocurrency is always unexpected in terms of prices if you are here in this market for a long time you'll know how it works. Using "IF" only will not guarantee the outcome, we should always minimize the risk of losing.

If you believe that you will recover yoir loan in few days and you will earn some profit than its all right. No issue with loan but if there is not sure that you will earn and price may be down then my advise "stay away from loan" invest which you can afford.

Thinking like this will not remove the possibility of losing everything since trading isn't always a win-win factor to be relying when someone is taking a loan. There's a lot of issues about this in the past and OP shouldn't take the loan that easy because what he was talking about is just the possibility — the possibility to lose or to win.

[livingfree]

There were people 2-3 years ago who did this, and most of them are bankrupt now. It's not easy to pass the correction period if you don't have reliable financial support on your back.

I have never heard any single of those people that did this in the past that have managed to take the risk that we have managed to overcome for the past years.

That is the reason why an investor shouldn't take this type of risk. It's fine to take all the risk as long as you own the money and it's from your savings or profits from other resource but not from loans. Very risky move that someone will regret just as those who did it before.

Investors can use the money from a loan on risky investment but only when they have a lot other sources of income other than salary and crypto earnings because the life of an investor never going to get safe because they are investing based on speculations which may or may not work but at least they need to be prepared to face the possible outcomes is recommended.

If they have it then yes, Other sources of income means that they are  capable of paying the loan.

Whatever happened with their risky investment, they have money to pay for it coming from he's own pocket, it's worse if he'll loan then if he failed he'll look for another lenders just to pay his previous loan, either use your  spare money or you have many sources of income and not just your monhtly or weekly salary that you are using for your family or your own personal needs.

Just don't take loan what they can't afford to pay and to lose. Whether they have other source of income, that doesn't mean that they should loan it just for taking the risky investment such as bitcoin.

There's a strategy that they can follow if they really want to invest.

And that's the DCA, dollar cost-average.

[konflikkastil]

Firstly, let me tell you that you have made the right choice by asking for other people's opinions about it before you go into it. That shows that you will be teachable and will be able to make use of any idea given to you. £20,000 is not a small money though. But it all depends on your own capacity. The question here is that how do you plan to pay back the loan if the Investment doesn't go as planned and you have to wait for years before something good can come out of it? What are the provisions in place. And when you said BTC reaching $1B, I smiled though it's very possible. But sometimes we have to be realistic.

[Oshosondy]

And when you said BTC reaching $1B, I smiled though it's very possible. But sometimes we have to be realistic.

Before bitcoin can get to such high price, it will really take time, like you said we have to be very realistic because normally If we are not realistic, we can end up out money into investing and results to losses. Setting $100 thousand is also still very high because it can take bitcoin long time before it achieves $100 thousand not to talk of $1 million, but the day such will happen will come but can take a very long time.

[DoublerHunter]

If you believe that you will recover yoir loan in few days and you will earn some profit than its all right. No issue with loan but if there is not sure that you will earn and price may be down then my advise "stay away from loan" invest which you can afford.

^ I have been advised this so many times here in the forum, never take a loan just to invest in crypto. It will probably like a double edge sword if you will lose both the amount that you lent and the capital you invested if you won't able to gain profit. A good suggestion that you only invest what you can afford, not even your one-month family budget, it should always extra money that comes from your pocket. However, you can set aside maybe 10% of your monthly salary and invest in cryptocurrencies, in that way, you did not feel hard losing money.

[ultrloa]

If you believe that you will recover yoir loan in few days and you will earn some profit than its all right. No issue with loan but if there is not sure that you will earn and price may be down then my advise "stay away from loan" invest which you can afford.

^ I have been advised this so many times here in the forum, never take a loan just to invest in crypto. It will probably like a double edge sword if you will lose both the amount that you lent and the capital you invested if you won't able to gain profit. A good suggestion that you only invest what you can afford, not even your one-month family budget, it should always extra money that comes from your pocket. However, you can set aside maybe 10% of your monthly salary and invest in cryptocurrencies, in that way, you did not feel hard losing money.

We can really say that for people who are not knowledgeable yet about bitcoin since they might lose everything if they don't know how it works in the first place,  but if you know how to handle it in terms of investing and trading well maybe taking a loan is also great since the possible return is so big that's why we should be careful upon dealing to anyone and anything to avoid any Ponzi schemes.

[oHnK]

If you believe that you will recover yoir loan in few days and you will earn some profit than its all right. No issue with loan but if there is not sure that you will earn and price may be down then my advise "stay away from loan" invest which you can afford.

^ I have been advised this so many times here in the forum, never take a loan just to invest in crypto. It will probably like a double edge sword if you will lose both the amount that you lent and the capital you invested if you won't able to gain profit. A good suggestion that you only invest what you can afford, not even your one-month family budget, it should always extra money that comes from your pocket. However, you can set aside maybe 10% of your monthly salary and invest in cryptocurrencies, in that way, you did not feel hard losing money.

We can really say that for people who are not knowledgeable yet about bitcoin since they might lose everything if they don't know how it works in the first place,  but if you know how to handle it in terms of investing and trading well maybe taking a loan is also great since the possible return is so big that's why we should be careful upon dealing to anyone and anything to avoid any Ponzi schemes.

Investing without knowledge is a gamble.  Likewise, people who borrow money from a bank and invest only thinking of profits without seeing the big risk in front of them are an example of betting.  The words of the OP have often appeared in this forum, even if he is diligent in reading he might be able to find various human perspectives regarding BTC investment with loans.  I don't find this thread interesting, just like someone intentionally posting just for the sake of making this thread a field for their posts.

[Swopon]

Taking loan is not a good idea from my perspective. Because you have to pay more then they give to you as their profit or interest rate and it is fixed for all who want to take the loan from bank. I have an experience and that was not so good. That's why, I am saying it. If you think, you can make it by managing other factors then you may go.

[Lanatsa]

Taking loan is not a good idea from my perspective. Because you have to pay more then they give to you as their profit or interest rate and it is fixed for all who want to take the loan from bank. I have an experience and that was not so good. That's why, I am saying it. If you think, you can make it by managing other factors then you may go.

One thing you do only mind of about taking a loan is that you should really able to repay it when its due and never intend to make your crypto investment
to be the ones to be paying up those interest or those total loaned amount because you would be fucked up.

Its not really ideal to take this kind of measure on taking loans and it would be better if you do borrow neither from your loved ones or friends
rather than getting this kind of payment responsibility.

If you do see that kind of opportunity in the market then always reconsider on such making decision.

[agustina2]

Gambling with volatility is a good thing to do only if you used your own money. You won't feel the pressure that you need to win or lose.

Using money via a loan to buy bitcoin then sell later won't work easily as planned. What if no movement in a week, month, or year, or the worst, a bear market happens.

Forget those loans and try to find crypto-related jobs even with a small payout. Or use a loan to setup a business then use the profit to pay the loan slowly while saving to buy Bitcoin in small batches.

[Danslip]

Never do the investment with the money which you can not afford to lose. Sooner or later you will regret it if the BTC price goes back to the $20k, the loan amount is not small but it is not enough to buy a single BTC. I suggest buying the BTC amount which your monthly salary lets you afford this investment. If you lost the loan amount by making wrong trading decisions caused by greed or other emotional decisions, you will feel worse than not investing in the pumping crypto.

[imstillthebest]

what is that job where you can earn 7k per month . 7k per month is not bad and if im earning that much i wont be thinking of taking a loan .

 sorry but i wont let you loan a money to buy a btc  .

 i know that when someone buys a btc the price of btc can increase but i dont want to be selfish this time because i dont want anybody to suffer for my own good but there is that lockdown that prevent you from doing what you planned .

[MCobian]

No wonder so many people are getting greedy now to see the price of Bitcoin continue to rise. But not because we want to get big profits, then do
things that are risky. Borrowing money is only for urgent needs, because if we owe mainly to banks, there is an obligation to pay installments.
While the Bitcoin price is very volatile, we have to learn from what happened in 2017. Many people become FOMO and finally decide to buy Bitcoin
with borrowed money. Then what happens is that many people end up having problems after the Bitcoin dump in 2018. So always buy Bitcoin with
the money that we can afford to lose.

[dunfida]

No wonder so many people are getting greedy now to see the price of Bitcoin continue to rise. But not because we want to get big profits, then do
things that are risky. Borrowing money is only for urgent needs, because if we owe mainly to banks, there is an obligation to pay installments.
While the Bitcoin price is very volatile, we have to learn from what happened in 2017. Many people become FOMO and finally decide to buy Bitcoin
with borrowed money. Then what happens is that many people end up having problems after the Bitcoin dump in 2018. So always buy Bitcoin with
the money that we can afford to lose.

Not all would really be entitled to be able to get some loans from banks knowing that you would still need to get approval before in doing so.This is why majority do really
end up on borrowing money to those lendors locally which does have usual 10-20% monthly interest which is really too high to take.If you can risk up then
its up to you but honestly this isnt really worth for the risk because you wouldnt know on how big on profits you would able to make in 1 month time.
If you are much aware of the risk then you can go ahead, just dont forget to repay those loans back on the agreed date.

[lienfaye]

Its not advisable to invest using a borrowed money. What if something went wrong? (which is possible in crypto since its high volatile) how can you repay your loan? Sure there's a bright future ahead for bitcoin but we cant be certain for how long are we going to wait before we reach an unexpected high price.

Because of the current price many people are willing to take the risk just to buy bitcoin to not miss the opportunity. But as an investor we must know the basic rule when to engage ourselves. Nevertheless this is always depends on each investor thus its up to us.

[TastyChillySauce00]

~snip

This. Most of people who are taking loan just to buy something that doesn't guarantee them profit always somehow forget that things usually don't go as planned and so did taking loan just to invest into something considered high risk investment although the return could also be high and when things started to go south that kind of people will be the first person who lost the most. The decision itself just nonsensical.

[boyptc]

Its not advisable to invest using a borrowed money. What if something went wrong? (which is possible in crypto since its high volatile) how can you repay your loan? Sure there's a bright future ahead for bitcoin but we cant be certain for how long are we going to wait before we reach an unexpected high price.

And that will give the borrower an interest rate that he/she might not afford to pay if they'll only rely to the profits that the investment through bitcoin they have.

It's really not a good choice and resort for taking loan to invest in bitcoin. But for active businesses, it's a common thing to borrow and let that money used to operate.

[geegaw]

Its not advisable to invest using a borrowed money. What if something went wrong? (which is possible in crypto since its high volatile) how can you repay your loan? Sure there's a bright future ahead for bitcoin but we cant be certain for how long are we going to wait before we reach an unexpected high price.

And that will give the borrower an interest rate that he/she might not afford to pay if they'll only rely to the profits that the investment through bitcoin they have.

It's really not a good choice and resort for taking loan to invest in bitcoin. But for active businesses, it's a common thing to borrow and let that money used to operate.

I don't think so, you can look at a bank's lending service and evaluate the interest rate on your loans, they have almost calculated carefully from the salary and assets you have, from which, they provide you with the most suitable loan, you will always be able to pay interest every month very easily, the bank and the loan service never force their users to take part in excessive loans, they also fear users fail and their service will lose profits. So, borrowing money to buy bitcoin is still possible, many people always think negatively and feel they might fail but we should look to the future, a more positive, profitable and successful thing.

[cheezcarls]

Nope! That is a complete no-no to me! Why would I ask for a loan in order to buy Bitcoin? This is one of the stupidest purpose we ever had.

Let’s say I borrow $500 in order to buy satoshis. What if the market goes down? How could I repay the lender especially when the due date is near?

If I want to buy Bitcoin by not lending, I would rather sell items that are not useful to me anymore or get some extra gigs, or maybe use a small percentage of my spare funds for that.

It’s not wise to borrow money just to buy Bitcoin. Consider yourself lucky if the market shoots up and immediately return the original amount you borrow.   

[Findingnemo]

To be a successful investor, avoiding FOMO is very important which means you never take loans to make investments because cryptos are not giving dividends then how you are going to pay the interest rates? What if your investment become total failure.

[Noctis Connor]

~snip

This. Most of people who are taking loan just to buy something that doesn't guarantee them profit always somehow forget that things usually don't go as planned and so did taking loan just to invest into something considered high risk investment although the return could also be high and when things started to go south that kind of people will be the first person who lost the most. The decision itself just nonsensical.

It's true now my friend don't how to pay his debt from his loan his he doesn't have a job at the moment i already told him that loan doesn't help him once he can't make a stable profit from trading when he just invested when those coins are in red chart and i feel so bad for him it's much more better if he done his research and gain more experience and now probably he learned some lesson from his kind of mistake, If i we're them i will not take a risk taking loan just to risk another money without guaranting any roi.

[justdimin]

Taking loans to buy assets like Bitcoin is not a smart thing to do because yes it might yield big profits without doing anything but if by any chance it drops you will be in tatters because you don't just have to pay interest on the money you borrowed you are also losing overall on the money you borrowed. It is rather better to maybe take loans and trade because that at least gives you chance to earn but even then there is a risk, not a fan of taking loans for trading or investing.

Guys keep in mind that Bitcoin has already crossed expectations and might still cross 100k in coming months but if it goes down to something like 25k then don't be surprised because after every big bull run there is often a bear run or at least correction which can make it float around 35-45k if not less.

[oHnK]

Taking loans to buy assets like Bitcoin is not a smart thing to do because yes it might yield big profits without doing anything but if by any chance it drops you will be in tatters because you don't just have to pay interest on the money you borrowed you are also losing overall on the money you borrowed. It is rather better to maybe take loans and trade because that at least gives you chance to earn but even then there is a risk, not a fan of taking loans for trading or investing.

Guys keep in mind that Bitcoin has already crossed expectations and might still cross 100k in coming months but if it goes down to something like 25k then don't be surprised because after every big bull run there is often a bear run or at least correction which can make it float around 35-45k if not less.

I just think that people who rush into investment decisions are simply due to hype and even using a loan to invest is just baseless foolishness.  Because what is called an investment must go through a lot of considerations in terms of risk and any factors that influence it.  The market hypothesis does not guarantee successful investment.  Because we are only seen as seasonal investors.  And it's very dangerous.

[Atek33]

I think it can be a bad decision for you because if you borrow money from somewhere and invest in Bitcoin or buy Bitcoin then when you buy Bitcoin then the price goes down then you can lose a lot of proof.  I think that’s why you must I think Bitcoin shouldn’t be in a situation when you don’t have the money

[taufik123]

bad decisions indeed when you want to invest have to rely on loans. Everyone even says not to take out a loan just to invest in bitcoin. This is because loans invested in bitcoin carry a high risk with the volatile price of bitcoin. price changes will be very fast. The borrower will benefit if the bitcoin price increases, but on the other hand, if the price falls, there will be a loan that you must pay off with some interest that is billed.
Investments should use money that is not needed or free money. don't spend money that will be needed later. that's the wrong way.

[FanEagle]

bad decisions indeed when you want to invest have to rely on loans. Everyone even says not to take out a loan just to invest in bitcoin. This is because loans invested in bitcoin carry a high risk with the volatile price of bitcoin. price changes will be very fast. The borrower will benefit if the bitcoin price increases, but on the other hand, if the price falls, there will be a loan that you must pay off with some interest that is billed.
Investments should use money that is not needed or free money. don't spend money that will be needed later. that's the wrong way.

Yeah, this has been talked a lot before but doing this at the very wrong part of the run is what gets people really in trouble. Of course you can't know when bitcoin will go up, but you would at least know a time when it hasn't gone up, it has gone down a lot and that is when you should do something like this if you really want to.

For example when the price was 7k at the start of 2020, you did know that when the price crashed to under 4k levels that was very very low, and you could have taken out a loan and sold it when it reached 10k+ prices and you would have paid all your loan debt and you would still have bitcoin left over as well. Personally I wouldn't even suggest to do that, but when it increased from 10k to 50k is that really sounding smart to you to get in NOW and not when it was lower?

[Viscore]

IMO, this is a bad decision, the timing is not good because the market is bullish, the risk is high that the price could dump and that will make the value of the money you loan to dump as well, and you know, when correction comes, it will take time before a bull run will come again but the sad thing is that the amount you borrowed will continue to earn an interest which will increase your borrowed loan.

[ven7net]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

I would not recommend that you take out a loan to buy BTC. The fact is that any investment is a risk and investment in BTC is the same risk. And you can only risk that money that you can not lose. Yes, BTC is now showing a super result, its price is growing and will probably grow even more. But this is not the point, the point is that you want to borrow a large amount of money for a long time and there is always the possibility that everything may not go according to plan. Personally, I could not take such a risk, although they say risk is a noble cause. In any case, it's up to you and how you decide it will be. And whatever decision you make, I want to wish you good luck!

[taufik123]

Yeah, this has been talked a lot before but doing this at the very wrong part of the run is what gets people really in trouble. Of course you can't know when bitcoin will go up, but you would at least know a time when it hasn't gone up, it has gone down a lot and that is when you should do something like this if you really want to.

For example when the price was 7k at the start of 2020, you did know that when the price crashed to under 4k levels that was very very low, and you could have taken out a loan and sold it when it reached 10k+ prices and you would have paid all your loan debt and you would still have bitcoin left over as well. Personally I wouldn't even suggest to do that, but when it increased from 10k to 50k is that really sounding smart to you to get in NOW and not when it was lower?

no one will know the price will continue to increase or not. but some people who make loans while Bitcoin is still at $ 4k will certainly get many benefits. But some people won't last until now.
There are times when a loan is really good to do and there are also times when a loan should be avoided. The risk of making a loan will still exist and you must be careful with it.

[Mahanton]

Yeah, this has been talked a lot before but doing this at the very wrong part of the run is what gets people really in trouble. Of course you can't know when bitcoin will go up, but you would at least know a time when it hasn't gone up, it has gone down a lot and that is when you should do something like this if you really want to.

For example when the price was 7k at the start of 2020, you did know that when the price crashed to under 4k levels that was very very low, and you could have taken out a loan and sold it when it reached 10k+ prices and you would have paid all your loan debt and you would still have bitcoin left over as well. Personally I wouldn't even suggest to do that, but when it increased from 10k to 50k is that really sounding smart to you to get in NOW and not when it was lower?

no one will know the price will continue to increase or not. but some people who make loans while Bitcoin is still at $ 4k will certainly get many benefits. But some people won't last until now.
There are times when a loan is really good to do and there are also times when a loan should be avoided. The risk of making a loan will still exist and you must be careful with it.

It would really be on that 50% chances on both sides on how things turns  out to be on your expectations because neither i can go that way which means this one will varying on
someones risk management if he's ready on taking out the consequences for your loan on not to get paid then you should be aware on that and if it turns out to be positive
then that decision was a good call.Taking a loan isnt bad but you should think or mind all of those things to be considered first before proceeding.
On real talks then taking loan isnt really a good idea at all.

[darewaller]

To be a successful investor, avoiding FOMO is very important which means you never take loans to make investments because cryptos are not giving dividends then how you are going to pay the interest rates? What if your investment become total failure.

On the contrary, I believe if people are doing margin trading or futures then they are already taking bigger risks because taking 3x leverage means your portfolio will be emptied if the price falls by 33% and considering the volatility of the crypto market it can actually happen within days or even a single night.

I always think that better than taking money on leverage and risk losing everything, it is better to take loans in real life and pay yearly interest because it gives you much more time and the assets/coins you buy are going to be yours 100% without any risk of marketing being down or up.

Consider this as an example:

Trader 1: A trader bought Bitcoins at 8k last year February and he took only 2x leverage, in march as the price dropped below 4k he lost everything he hold.

Trader 2: Another trader took a loan of 8k and bought bitcoins with it, market went ballistic and as low as 3k but he lost nothing and somehow market recovered and now an year later he turned his 8k into 45k now.

So, it might not be the worst idea to take loans for buying Bitcoins, given you have back up plan and good strategy.

[Inkdatar]

Bad decision if we have to borrow to buy bitcoin, I remember being in that position very well. doubling valuables to buy bitcoin in trading on Futures. but there I suffered no loss 3 days after borrowing. It becomes the point where I have to be really careful about making a loan for investment. Moreover, the risk in trading or investing in bitcoin is quite high. it is something that must be considered beforehand

Some people trying taking loan to buy bitcoin just to earn profit or to cover loss of money. The more you borrow the more you can lose money. Also the interest costs of the loan makes it harder to pay once a person cannot afford to return the money. So there is a huge risks by doing this just to invest so before taking loans think twice.

[Golftech]

Bad decision if we have to borrow to buy bitcoin, I remember being in that position very well. doubling valuables to buy bitcoin in trading on Futures. but there I suffered no loss 3 days after borrowing. It becomes the point where I have to be really careful about making a loan for investment. Moreover, the risk in trading or investing in bitcoin is quite high. it is something that must be considered beforehand

Some people trying taking loan to buy bitcoin just to earn profit or to cover loss of money. The more you borrow the more you can lose money. Also the interest costs of the loan makes it harder to pay once a person cannot afford to return the money. So there is a huge risks by doing this just to invest so before taking loans think twice.

Risk is high if you'll going to use your barrowed money from something that you are not really good at,
if you are doing this because you think that Bitcoin is really mooning and you are capable of riding from
it, remember that this high volatile asset can easily burned your investment, you need to be very careful
before deciding to loan any amount for the sake of your Bitcoin investment.

[stomachgrowls]

Bad decision if we have to borrow to buy bitcoin, I remember being in that position very well. doubling valuables to buy bitcoin in trading on Futures. but there I suffered no loss 3 days after borrowing. It becomes the point where I have to be really careful about making a loan for investment. Moreover, the risk in trading or investing in bitcoin is quite high. it is something that must be considered beforehand

Some people trying taking loan to buy bitcoin just to earn profit or to cover loss of money. The more you borrow the more you can lose money. Also the interest costs of the loan makes it harder to pay once a person cannot afford to return the money. So there is a huge risks by doing this just to invest so before taking loans think twice.

Risk is high if you'll going to use your barrowed money from something that you are not really good at,
if you are doing this because you think that Bitcoin is really mooning and you are capable of riding from
it, remember that this high volatile asset can easily burned your investment, you need to be very careful
before deciding to loan any amount for the sake of your Bitcoin investment.

You should be aware on the possible risk behind of this investment because it can indeed burn your loaned money or way too opposite on what you had expected from it.

Dont get fomo'ed just because you've seen that everyone is really making out some money or  in profits because a market could really have that flipping side or lets say some serious correction or pullbacks.

If you are just new into this market then you should be fully prepared on that and if you dont like to lose money then this investment isnt really for you.Its never been good or ideal to consider
on making some investment into a borrowed money specially if you are depending on it to repay those debts.Its just suicide.

I have seen lots of my friends like this where they do take a loan even though this doesnt directly talks about investment but rather on buying their wants
which did result on fucking up theirselves in times of repaying those debts.

[gazilla]

Can you afford to lose that money, cause if you are not you definitely should not, as the risk is high particularly at the moment.

[Innerpumper]

If you can afford it, you can give it a try.  I don't really recommend borrowing money and then investing. No one will know until when bitcoin trends up. even some of these times bitcoin goes into the unexpected ATH that is at the end of the year. And if borrowing money is likely bad is if bitcoin is really dump it is very sad. We're going to lose a lot of money and more because we borrow plus pay the interest.

[seramania]

the best option is to use personal money and assets because if I make a loan I think it is very dangerous. With you paying bank interest all the time that's one bad option.
start small and leave the loan so you can still do this with your own assets

[doctor877]

taking a loan is a two way thing, not advisable because you can not afford to lose it. but sometimes you would have a big conviction to do some crazy things like this and it would pay off. but you should keep at the back of your mind that it can go negatively. this definetly not advisable thing to do.

[Webetcoins]

I have actually been trying to take out a loan since yesterday and I have failed miserably :d I never realized that I needed to actually end up taking out a loan when I didn't even needed it, and repay it so that banks would give me a loan, or need to have a credit card at least, so that I could make a debt to banks and repay it so that they would think I am a good person to loan money to.

However what they do not realize is that, I never had any credit card or any loans before because I never needed, not like I "needed" it today neither, I didn't because I have enough money as always to live, but I wanted to take out a huge sum so that I could repay that whenever I want, not like I would be in trouble if I failed to make profit, I could have paid it with my income anyway, so if all the loan I took out and put into crypto becomes zero, I would still be capable of paying anyway, but they thought I was someone who didn't had money lol.

[Findingnemo]

To be a successful investor, avoiding FOMO is very important which means you never take loans to make investments because cryptos are not giving dividends then how you are going to pay the interest rates? What if your investment become total failure.

On the contrary, I believe if people are doing margin trading or futures then they are already taking bigger risks because taking 3x leverage means your portfolio will be emptied if the price falls by 33% and considering the volatility of the crypto market it can actually happen within days or even a single night.

I always think that better than taking money on leverage and risk losing everything, it is better to take loans in real life and pay yearly interest because it gives you much more time and the assets/coins you buy are going to be yours 100% without any risk of marketing being down or up.

Consider this as an example:

Trader 1: A trader bought Bitcoins at 8k last year February and he took only 2x leverage, in march as the price dropped below 4k he lost everything he hold.

Trader 2: Another trader took a loan of 8k and bought bitcoins with it, market went ballistic and as low as 3k but he lost nothing and somehow market recovered and now an year later he turned his 8k into 45k now.

So, it might not be the worst idea to take loans for buying Bitcoins, given you have back up plan and good strategy.

Its better than leverage but not completely practiced by someone who can't able to find few hundred dollars in their bank account, basically these people don't have any backup plan and they planned to pay the monthly interest with the earnings made from trading every month which will put us in horrible condition when the market get crash and most likely these people will sell for the loss rather than waiting.

[Renampun]

I don't think it's a problem with you making a loan to buy Bitcoin...
but remember, you have to estimate everything, you must be able to have a main job to pay the installments, don't cheat the bank, you will just go to jail.

[isaac_clarke22]

~

This is what I was trying to emphasize previously. I am not sure why would people think of adding liability into their finance then letting the lady luck decide their fate.
It's gonna be hella depressing for me if I was to do that then Bitcoin plummeted. I think I would go really really insane.
Plus from what you mentioned, interest rates.

[Mahanton]

~

This is what I was trying to emphasize previously. I am not sure why would people think of adding liability into their finance then letting the lady luck decide their fate.
It's gonna be hella depressing for me if I was to do that then Bitcoin plummeted. I think I would go really really insane.
Plus from what you mentioned, interest rates.

That would indeed a very stressful thing is that you do mind off about those interest rates in due dates plus you would also be stressed on looking on the price as well if it did
increase or decrease which is really a very mental boggling thing if you do really just rely into those investment for you to be able to pay.It isnt really that ideal to take loans
and deal with crypto market if you dont know and aware on what you are doing because you would be putting up yourself into a very big deep trouble if you do such thing.
If you do have some bit spare of money to spent out on investment then that should be your first consideration before making any loans or making this as a last resort
if you do see some opportunity.

[uneng]

I don't recommend this to anyone. Keep in mind by taking a loan to invest in bitcoin you will be risking yourself in double. First because you will have to pay exorbitant interest rates to banks or lenders and second because bitcoin might enter a bearish market suddenly. Personally I prefer to invest slowly, step by step, accumulating maximum coins as possible in crypto currency, but never contracting debts with third party services for this goal.

On the other hand, if you have a near family member in good financial condition you could ask him or her to lend you some money with low or no interest at all. If things go wrong with your btc investment you don't need to panic and you can pay the loan back in smaller portions without abusive extra interest or fixed deadlines.

[boyptc]

I don't think it's a problem with you making a loan to buy Bitcoin...
but remember, you have to estimate everything, you must be able to have a main job to pay the installments, don't cheat the bank, you will just go to jail.

It's a problem if you're doing it because you think that you'll make instant money from buying bitcoin with a loan. Despite we're seeing bitcoin reaching new highs.

That's still not enough reason for one to take loans for buying bitcoin. We all want to have bitcoin and invest on it but depending on your situation, you can choose to buy it in small portion with your own money not with loaned money.

[aesma]

The thread is 10 days old, BTC has gone up more than 10% in that time (despite having had a huge run just before that already). If the OP had taken a loan he would be in nice profit right now.

Just saying.

[lixer]

No wonder so many people are getting greedy now to see the price of Bitcoin continue to rise. But not because we want to get big profits, then do things that are risky. Borrowing money is only for urgent needs, because if we owe mainly to banks, there is an obligation to pay installments.

For sure borrowing money should be the considered when you have no other option and you are sure that the money you are borrowing, you will be able to earn enough with it to pay off the loan and the interest. If you have taken a loan on 15% interest lets say then make sure you are at least earning 16% or more with it otherwise its useless and harmful.

While the Bitcoin price is very volatile, we have to learn from what happened in 2017. Many people become FOMO and finally decide to buy Bitcoin with borrowed money. Then what happens is that many people end up having problems after the Bitcoin dump in 2018. So always buy Bitcoin with the money that we can afford to lose.

Also keep in mind that if the price remain stable for sometime you will lose money because you need to pay interest and how are you going to pay interest when the market hasn't moved much. So better to just buy bitcoins with the amount you own and don't get mad about holding more bitcoins beyond your pocket allows.

[Freddy11]

Loan is worst way to go for anyone, as it not only put push us towards major losses but also takes us to place of tension and stress, it must be avoided at any cost.

[taufik123]

-snip-.Taking a loan isnt bad but you should think or mind all of those things to be considered first before proceeding.
On real talks then taking loan isnt really a good idea at all.

Good risk management will be very useful when deciding to take a loan. In addition, what must be considered is that it is not a matter of how much to make a loan, but how much interest is charged on the loan and how long it will mature. Don't let the interest be too big and the maturity is too short. Because if you don't pay off the loan on time and the interest, it will be a new problem.

[Ryker1]

-snip-.Taking a loan isnt bad but you should think or mind all of those things to be considered first before proceeding.
On real talks then taking loan isnt really a good idea at all.

Good risk management will be very useful when deciding to take a loan. In addition, what must be considered is that it is not a matter of how much to make a loan, but how much interest is charged on the loan and how long it will mature. Don't let the interest be too big and the maturity is too short. Because if you don't pay off the loan on time and the interest, it will be a new problem.

Well, you have a good point, --we should consider that possible outcome that waiting ahead, or let say the negative consequences because once you have failed, it will hit you twice, from paying your debt and the loss in your investment. It is just something like you has hit by a double-edged sword.
Investing is really good in crypto, but don't force yourself if you can't afford what you invest, it is very risky to manage to pay interest in the next month while waiting to gain profit in crypto, it is not a guarantee.

[bitgolden]

I have actually been trying to take out a loan since yesterday and I have failed miserably :d I never realized that I needed to actually end up taking out a loan when I didn't even needed it, and repay it so that banks would give me a loan, or need to have a credit card at least, so that I could make a debt to banks and repay it so that they would think I am a good person to loan money to.

I think when you do something like that and the bank doesn't give you a loan, I see that as a sign. If you were not capable of taking out a loan, that means a good thing, because it probably means if you were capable of it, you would have lost money, I see these things as signs and that is why I am happy with the both situations, if you were capable of taking out a loan, I would have seen that as a sign as well.

Also there is something called "credit score" which means if you take out a small amount of loan and pay it back you get your score higher, and you keep growing bigger and bigger eventually being able to take out a huge loan and pay that back because you have done that so many times even if smaller.

If you have zero credit score, the best way to approach that is put a decent sized amount of money in, and asking for a small loan when you have 10x that in your account, banks usually accept that. Do not use this to take out loan to buy crypto though, I just wanted to help for people who might need it for emergency reasons.

[Distinctin]

This is not a good idea but since you are doing this for a good purpose, then why not? At least you were possibly getting returns unlike if you are just to borrow money for nonsense. But one thing you have to be sure of is you can make a payment. That be sure you have other sources of income in the case your trading journey won't succeed ( but I hope it won't). That is why you should have to think about it wisely and don't get rush. Besides, we can make an entry to trading any time as long as you are ready enough.

[Alexmagn84]

I will counsel you not to take a credit. The bitcoin market and crypto market for the most part are instability, credit isn't suggested for it. There isn't any assurance that the benefits that you'll get in crypto will outflank the premium the bank forces on the credit. Also, if your work right currently isn't paying adequately to cover for your costs and your advance, at that point you'd simply be setting yourself in a great deal of pressure.

[SirLancelot]

Good risk management will be very useful when deciding to take a loan. In addition, what must be considered is that it is not a matter of how much to make a loan, but how much interest is charged on the loan and how long it will mature. Don't let the interest be too big and the maturity is too short. Because if you don't pay off the loan on time and the interest, it will be a new problem.

Well, you have a good point, --we should consider that possible outcome that waiting ahead, or let say the negative consequences because once you have failed, it will hit you twice, from paying your debt and the loss in your investment. It is just something like you has hit by a double-edged sword.
Investing is really good in crypto, but don't force yourself if you can't afford what you invest, it is very risky to manage to pay interest in the next month while waiting to gain profit in crypto, it is not a guarantee.

There is one more thing that I always say. Let's say you can "save" 300 dollars a month, there is nothing wrong with taking out a loan that has 300 dollars payments monthly as well. Sure there could be the fact that if something wrong happens and you need money urgently that would be sad but I am sure it will be difficult anyway, whereas if you can take out a loan that you can pay easily no matter what, I suggest doing that anything you can.

I like taking out 1-2k loans for example, that way I pay about 100 bucks a month and be done with it in just few months and I just use that money to invest into things whenever I want instead of waiting for months. Of course do not withdraw loans that you will have hard time paying, I never take out a loan that I would need the investments to pay, I rather pay my loans with my salary and just grow my investments in size.

[taufik123]

-snip-
I like taking out 1-2k loans for example, that way I pay about 100 bucks a month and be done with it in just few months and I just use that money to invest into things whenever I want instead of waiting for months. Of course do not withdraw loans that you will have hard time paying, I never take out a loan that I would need the investments to pay, I rather pay my loans with my salary and just grow my investments in size.

That's a good way when you already have a regular salary from your real job. Loans 1-2k and pay $ 100 every month. and you settle it in just a few months before the final payment is due.
if it's good for you but not good for others.

I agree with the point that you mean about taking loans that are difficult to pay. Taking a loan according to the portion of the payment that you can afford will be better. However, some people take loans regardless of how much they are able to pay them. ordinary people who want to get into crypto will usually do anything to get their first money for investment.

Pay attention to the investment risks with a loan. Loans are a responsibility that must be resolved and do not let what is invested fail or get stuck with an investment scam, it will ruin everything.

[Julien_Olynpic]

A loan to buy a cryptocurrency is not the best solution. I would even say that this is a crime against risk management. However, this can be done by following certain safety rules.
1. Borrow only the amount that you can pay off without any problems, even if you lose all your bitcoins.
2. As soon as after the purchase the value doubles, sell half of your bitcoins and repay the loan.

[pragna]

I do not have to read all about your post before I will tell you taking a loan is not necessary. But if you think you can gain from it, you can try but you can expect gain and lose, this will make it difficult for you. I will advice you not to take a loan. The bitcoin market and crypto market generally are volatility, loan is not recommended for it.

I am fully agree with you because we can not believe on this market. You see market now in big correction like 58k$ to 52k$ and suppose you take a big loan and invest in crypto market and at that time market fall like 2017 than what will be do? If you have family than both will be in great problem. So batter you work slowly and store from that and later go for investment. you will be gainer.

[tygeade]

A loan to buy a cryptocurrency is not the best solution. I would even say that this is a crime against risk management. However, this can be done by following certain safety rules.
1. Borrow only the amount that you can pay off without any problems, even if you lose all your bitcoins.
2. As soon as after the purchase the value doubles, sell half of your bitcoins and repay the loan.

You are contradicting yourself with the 2 statements you made.

You are saying that one should not take risk and even termed it as crime, so you believe that chances are user won't be able to even earn enough to pay the interest.

But on the other hand, you are expecting the value to double up and pay off the loan and keep the remaining 50% which is no doubt a dream scenario but doubling happens very rarely.

I don't like the idea of taking loans and buying Bitcoins but if you know what you are doing and have the belief that you will not panic, then it might just work out.

[chikading2016]

I do not have to read all about your post before I will tell you taking a loan is not necessary. But if you think you can gain from it, you can try but you can expect gain and lose, this will make it difficult for you. I will advice you not to take a loan. The bitcoin market and crypto market generally are volatility, loan is not recommended for it.

I am fully agree with you because we can not believe on this market. You see market now in big correction like 58k$ to 52k$ and suppose you take a big loan and invest in crypto market and at that time market fall like 2017 than what will be do? If you have family than both will be in great problem. So batter you work slowly and store from that and later go for investment. you will be gainer.

Crypto has no assurance to earn beause it always change sometimes price may fall and sometimes price may rise, the only poblem is if you take a big amount of loan and we know that the loan has an interest so there is a great posibility that after a year you will be pay big interest for it, however everthing in cypto depends on your faith if you think you can earn then grab it but if you dont have patience dont try investing on it because in cypto if you cant hold you can't be rich and holding is always depend on your patience.

[kramat]

Trading is good ideas. But trading is not easy. So Frist you will know the trading information. This invention process. You need to know the positive and negative. Coin price is any time to increase and decrease. So follow the market place the plane to trade the coin. If price will be go down that time right time to trade the coin. Then hold the long time and wait for the price increase. Then starts the trading.

[777Jolami]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

This is very risky.  Even though you have good plans and direction for you, you have placed bitcoin heavily on speculation.  You are at a loss and want to eat quickly.  This is not good if you borrow and go to bitcoin with the mentality of "instant noodles".  
It is better to consolidate your funds balance and mingle with bitcoin in the long run.
I won't throw my house like that!

[South Park]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

Forget it, investing and trading is already hard enough when you do it with your own money, to add a loan to all of this and the interests that you will have to pay is simply a situation that will make your life too difficult, we had people like you during the previous bull run and as far as I know they failed, I do not know what happened to them exactly but most likely their lives got ruined because of it, even if you miss this bull run you can always buy bitcoin once you get enough capital and there is a correction or a crash since this market will keep growing for decades, so do not do it regardless of how tempted you are.

[xSkylarx]

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

Since you already said that your income is low and even if you have work night and day, it would be a huge risk to take a loan just to buy bitcoin. It is very volatile, price could soar downwards very quickly in just a day like just what happened recently. If price doesn't recover fast, you would be in debt just to pay that loan. Just buy any amount that you can afford without taking any loan. Even if it is a small amount but you buy consistently like per week or month, it will definitely be worth it in the future.

[Willitivity]

Investing in bitcoin is definitely worth it, but only when the money invested into it is yours and not a money you loaned from a bank or someone, it's never advisable take a loan just to invest in crypto because you feel it's going to explode very soon, remember things don't always go as we plan, you might be thinking it will explode but in the end things might not go as you planned then boom you're a debtor, always make sure you invest money you can afford the lose, crypto investments are risky do not take a loan to invest in any coin, it's never the best choice.

[doomloop]

I do not have to read all about your post before I will tell you taking a loan is not necessary. But if you think you can gain from it, you can try but you can expect gain and lose, this will make it difficult for you. I will advice you not to take a loan. The bitcoin market and crypto market generally are volatility, loan is not recommended for it.

I am fully agree with you because we can not believe on this market. You see market now in big correction like 58k$ to 52k$ and suppose you take a big loan and invest in crypto market and at that time market fall like 2017 than what will be do? If you have family than both will be in great problem. So batter you work slowly and store from that and later go for investment. you will be gainer.

For sure and as a borrower you are always under the pump because there is borrowing fees always working against you and it won't let you relax. Imagine if you have $10k loan and the price of Bitcoin drops just by 1k it would give you sleepless nights while on the other hand if you just invest your own money it gives you the pleasure of not panicking because its your own money and you can lose it all and don't have to pay anyone.

I would rather sell my car and buy bitcoins than taking a loan to buy some. Yes there is one possibility which might enable me to take loans and buy bitcoins and that is if there is a humongous bull run going on or something like what happened with dogecoin happens, even then I would rather do leverage trading and avoid borrowing too big.

[avarnet]

Borrowing money for trading will only make your expenses increase because you have to think about the interest that you have to pay every month. I make sure it will not be easy because your emotions will not make the analysis maximal. better not to take this decision if not ready for risky things. remember when you lose money and don't have an emergency fund for payment then you will lose. so make sure you think about it first

[jostorres]

Borrowing money for trading will only make your expenses increase because you have to think about the interest that you have to pay every month. I make sure it will not be easy because your emotions will not make the analysis maximal. better not to take this decision if not ready for risky things. remember when you lose money and don't have an emergency fund for payment then you will lose. so make sure you think about it first

There are people who take money on credit and invest in stock markets so I don't think its too bad to consider taking loans, maybe for long duration though, buy bitcoins and even some potential altcoins like DOT or ADA and then just wait for the market to mature and once the price starts raging upwards, you can sell and pay your loan.

The problem I see, as you also mentioned, is that the price might go down but that's why I said the loan must be taken for longer period so that allows you more time to plan and in an year or two we might see some crazy prices for bitcoins so the interest rate doesn't matter too much but the loan duration is more important.

[carelessboy]

No because in my country interest fee too much.if i buy bitcoin so need hold and need many time. invest from your capital. when bitcoin price low under 20k .i bought more i tell my mother if he can,t give ne money i will sell my bike or house. bitcoin is   good investment .you can rich for buy some bitcoin. sell your everything and buy bitcoin .after bitcoin price boom you made a duplex house.

[MWesterweele]

A loan to buy a cryptocurrency is not the best solution. I would even say that this is a crime against risk management. However, this can be done by following certain safety rules.
1. Borrow only the amount that you can pay off without any problems, even if you lose all your bitcoins.
2. As soon as after the purchase the value doubles, sell half of your bitcoins and repay the loan.

At some instances of life where some of our colleagues couldn't afford to buy or have their own kind of bitcoin right away then this could be their best way to have it, taking a loan to buy bitcoin. But in my own opinion it isn't the best solution since i am afraid to the mere fact that this was a total taking of risk. I am afraid to the fact that it can be lost with just a glimpse. I didn't mean that taking a loan for the sake of bitcoin wasn't worth it, but i guess it should take seriously, should need a wise decision.

[NeverSop]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

If you tap to change the first loan.  It is a very dangerous knife.  especially in the cryptocurrency market.  Personally, I do not encourage myself to think like you, but hopefully you have to calculate, in the middle of an emergency you can use this account to buy.  Second is the payback calculation time or the minimum cycle rate.  Third, should not form the habit of borrowing.  20k euros is a small loan, how long will you invest in bitcoin?  when?  and string string to be used as any.  Many people often go up by borrowing, but the rate of failure is the majority.

[South Park]

Investing in bitcoin is definitely worth it, but only when the money invested into it is yours and not a money you loaned from a bank or someone, it's never advisable take a loan just to invest in crypto because you feel it's going to explode very soon, remember things don't always go as we plan, you might be thinking it will explode but in the end things might not go as you planned then boom you're a debtor, always make sure you invest money you can afford the lose, crypto investments are risky do not take a loan to invest in any coin, it's never the best choice.

We saw many people that invested in bitcoin using loans and for the most part they lost and the worst part is that they lost money that it was not even theirs which meant that they had to pay the debt and they got nothing to show for, personally I think people like that will never make it in the market as they are unable to wait so they can save their own money, it is not like the markets will disappear, if you take a few years to save money you could became a great trader during that time and then make money without asking for a loan.

[geegaw]

Investing in bitcoin is definitely worth it, but only when the money invested into it is yours and not a money you loaned from a bank or someone, it's never advisable take a loan just to invest in crypto because you feel it's going to explode very soon, remember things don't always go as we plan, you might be thinking it will explode but in the end things might not go as you planned then boom you're a debtor, always make sure you invest money you can afford the lose, crypto investments are risky do not take a loan to invest in any coin, it's never the best choice.

We saw many people that invested in bitcoin using loans and for the most part they lost and the worst part is that they lost money that it was not even theirs which meant that they had to pay the debt and they got nothing to show for, personally I think people like that will never make it in the market as they are unable to wait so they can save their own money, it is not like the markets will disappear, if you take a few years to save money you could became a great trader during that time and then make money without asking for a loan.

As you said, the majority of borrowers fall into a loss but another part is still successful, maybe this probability is relatively low but why not we find out the cause of this failure? Increases our chances of becoming a successful bitcoin investor through a loan, common causes for loss are lack of knowledge and patience, emotions are also a limited part of success. In addition, the pressure from the loan and forcing yourself to succeed immediately, it easily leads borrowers to make mistakes, qualifying necessary, the loan will no longer be a great risk, it is even a bridge to shorten the path to success

[FanEagle]

Borrowing money for trading will only make your expenses increase because you have to think about the interest that you have to pay every month. I make sure it will not be easy because your emotions will not make the analysis maximal. better not to take this decision if not ready for risky things. remember when you lose money and don't have an emergency fund for payment then you will lose. so make sure you think about it first

That is the point of taking a loan, in order to gain more you have to have more but that also means in order to lose more you to have more as well.

Someone who doesn't have 10k can't lose 10k, or at least that is normally the case, you have to spend that with credit card, take out a loan or be in debt to someone which means at some point you do have that much money and it went somewhere. That means if we are in a situation where you have that kind of money and lose it, that was your own choice and you did that knowing what you are doing.

If a person knows what they are doing and they took out a loan that means they know what they are doing and it is not a surprise to them, they willing to take that situation face on.

[skarais]

I had an experience about making a loan to buy bitcoin in 2017 from a friend. This is my first experience that ended in disappointment because after I bought bitcoin but after a while the price went down and I had to bear loss while paying off the loan. Until now, I no longer borrowed money from anyone just to buy bitcoin because this is of course very risky. This is really a very valuable experience for me personally.

The very volatile price of bitcoin allows borrowers to experience losses when repaying loans, some people may have been dealing with bad loans just because the price fell out of control. It is not recommended to buy bitcoin or altcoin from borrowed money, although they are not prohibited, I think this will only increase the risk for borrowers. But as long as the borrower accepts the risk, then I think they are free to do so.

[chaser15]

If a person knows what they are doing and they took out a loan that means they know what they are doing and it is not a surprise to them, they willing to take that situation face on.

Agree but unfortunately, most people aren't like that. There are people who took loans thinking they will easily return them thru going with the flow of the market's bull run which is a gamble even how they good at managing it. It's difficult to compete against the price volatilty especially that the market trend can be controlled by the big individuals.

Not saying it's wrong to take a loan to buy bitcoin but be responsible enough and always have a backup plan in a worst-case scenario.

[angrynerd88]

To begin with of all, I'd contribute what I can bear to hazard. It not make a sense you'll manage to chance that much considering it'll be borrowed cash you likely are not beyond any doubt of paying back.. By the way, I ponder what money related institution loans cash without any sort of collateral, confirmation or ensure that borrowers get stable.The safe way source of wage with adequate pay would've reduce the hazard abit for the moneylender and taker.

[dunfida]

To begin with of all, I'd contribute what I can bear to hazard. It not make a sense you'll manage to chance that much considering it'll be borrowed cash you likely are not beyond any doubt of paying back.. By the way, I ponder what money related institution loans cash without any sort of collateral, confirmation or ensure that borrowers get stable.The safe way source of wage with adequate pay would've reduce the hazard abit for the moneylender and taker.

If you are in doubt or hesitance just because you dont have any other source of income to repay up those loans then better not to proceed on.When borrowing or taking
up some loans then it would be automatically talks about repaying and if you arent sure then this would indicators that you shouldnt go ahead.Its never been ideal to
consider to have this option unless if you are really sure about it.

[livingfree]

By the way, I ponder what money related institution loans cash without any sort of collateral, confirmation or ensure that borrowers get stable.The safe way source of wage with adequate pay would've reduce the hazard abit for the moneylender and taker.

Banks can offer loans without collaterals as long as the amount isn't that much or you have a good credit history, they'll trust you even with you don't have any collateral to give.

But even if there's one, no one should do that.

You'll just giving a problem that you might not solve soon and will exist as your problem that you will regret.

[jaberwock]

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

Since you already said that your income is low and even if you have work night and day, it would be a huge risk to take a loan just to buy bitcoin. It is very volatile, price could soar downwards very quickly in just a day like just what happened recently. If price doesn't recover fast, you would be in debt just to pay that loan. Just buy any amount that you can afford without taking any loan. Even if it is a small amount but you buy consistently like per week or month, it will definitely be worth it in the future.

That is exactly the type of person who should not take out a loan, I have seen plenty of people who take out a loan and go into crypto because they can afford to pay the loan even without bitcoin going up, bitcoin could be zero and they would still be capable of paying the loan, those people can take out a loan and do whatever they want with it, you can take out a loan and buy just jewels if you want, who cares if you can pay for it, but if you can't pay for that loan with your income, it is 100% always a bad decision no matter what you use it for.

I have seen people who take out loans to pay hospital bills, because you know what else can you do? Die? That is not an option hopefully, yet they still failed to pay for it and their car was seized. So long story short what you take the loan for doesn't matter, how you can repay that loan is the important part.

[XZERO1]

No because in my country interest fee too much.

It's not only about high interest or other banking fees, the thing with market is you can not predict it at all, specially in short-term.

Let's say if you bought Bitcoin now and market turned totally bearish after that and you're in around 20-30% loss then, what you're going to do next?, Bitcoin probably is going to reach $60k or even $100k in long-term but can you really wait for that to happen which could take years when the money you invested was borrowed to you?

And don't ever forget that the stress that it will cause for you since you definitely did not invest what you can afford to lose and you actually did the opposite of that and with every single percent that Bitcoin goes down after you bought, so will your debt.

[Sebas.tian]

Using loan to purchase bitcoin is a big risks to those who don't really understand the system of trading before taking such decision. Taking a loan to buy bitcoin has reduced so many traders to nothing in the market, because of the decision they took which was not a good decision .
Bitcoin is about to dump according to the information I got few days ago, for those who are waiting for the price of bitcoin to decrease to $19k like the way it was last year of March, that caused many buyers to buy in low price and hold for future. The way market look like now, is not good for any trader  to take any loan to buy bitcoin because the price can just decide to continue dumping through out the year.

[Sinjokubhi]

I personally do this during the bear market and now I'm happy that I made that decision before, but right now with the market condition, I think its too risky and remember that Bitcoin will not go up forever, expect the bear market to come in no time.

Know the risk of taking loan, and make sure that you can still pay that loan even if Bitcoin didn't go the way you want it but if you still experiencing a financial problem right now, then I will not suggest to take loan, just take it easy and work for extra money so you can invest on bitcoin without having any loans.

Yeah, I think taking on debt is a complex personal decision that shouldn't be made without great attention and financial considerations. With Bitcoin (BTC) at its highest price on the rise right now, some neglected Bitcoiners have started taking out bank loans to increase their position on assets. Although this may seem like a short path to wealth to some, but it is precisely this action that is most risky to undertake, given the inherent volatility in that space.

Because we don't know the exact ups and downs of a currency's price. Predicting and analyzing it is not entirely on target. Given also the balance of market supply and demand, prices certainly will not be stable continuously. Therefore, I think taking a loan for Bitcoin needs serious consideration and preparation. Why is that? If we don't consider all the risks and consequences, we will only think about the benefits that will be obtained after borrowing money and investing it or trading it for Bitcoin. But the benefits will not be the same as the risks that will be obtained when what we get is a loss. If we take a loan considering all the risks and consequences, surely we will prepare a way or reserve to avoid or deal with it.

[randegibran]

Not good way if you load using bitcoin, I have tread discussion on this forum give loan with btc and ethereum, I think much profit get by this person give loan and payment using bitcoin or altcoin. I see he use higher fees depend how long loan take time. but only with trusted reputation account can get loan from him.

[ChrisPop]

I don't think taking out a loan is a good idea. I mean it depends on your financial situation and on the interest you will have to pay on it, but anyway I wouldn't take the loan unless I have income-producing assets of at least 500k euros and a strong active income flow (job or business).

I am well aware of the fact that Bitcoin is starting to look more and more like a strong alternative to gold as a wealth preservation instrument, but it still has its risks.

Do you think it is worth it? This might be a once in a lifetime chance.

You don't need crazy capital gains to get wealthy. You can always build and grow a business that could bring you exponential gains. Also the market is full of small companies, penny stocks, etc. so if you have the expertise and eye for analysing this kind of assets you can make some pretty hefty returns there as well.

[randegibran]

Why not take loan on the bank without use bitcoin, did you see how bitcoin price increase last one year from $10,000 and now bitcoin have raise above $50,000. how come when the first time you take loan when bitcoin still $52,000 and one month later as payment time bitcoin raise above $60,000 how much fees have you pay.

[bakasabo]

The problem with taking loan for Bitcoin is that people and institutions you borrow from will time to time remind about them and will ask for a partial repay of the debt. I doubt that someone will lend money and simply wait till Bitcoin grows. Not to lose faith in you and reputation, you must give them something in return for long waiting.

I remember the rule that when you invest in cryptocurrency, you must be ready to lose that money. With that rule, borrowing is not allowed. If you dont have your own money, dont bother risking others. I think that according to statistics, those the amount of those took loan and had lost, are greater than those who got profit. I havent seen statistics, but I have inner feeling  that it is like that.

[ChrisPop]

Why not take loan on the bank without use bitcoin, did you see how bitcoin price increase last one year from $10,000 and now bitcoin have raise above $50,000. how come when the first time you take loan when bitcoin still $52,000 and one month later as payment time bitcoin raise above $60,000 how much fees have you pay.

Don't take me wrong, I do believe Bitcoin is here to stay and has a bright future, but the decision to invest using money you don't own based on past performance is not even close the best way to approach the financial markets.

Having peace of mind is much more precious than making hefty monetary gains, trust me.

[randegibran]

Why not take loan on the bank without use bitcoin, did you see how bitcoin price increase last one year from $10,000 and now bitcoin have raise above $50,000. how come when the first time you take loan when bitcoin still $52,000 and one month later as payment time bitcoin raise above $60,000 how much fees have you pay.

Don't take me wrong, I do believe Bitcoin is here to stay and has a bright future, but the decision to invest using money you don't own based on past performance is not even close the best way to approach the financial markets.

Having peace of mind is much more precious than making hefty monetary gains, trust me.

I think use loan from the bank is good way because money value keep the same not like bitcoin, first day we take loan maybe have double price on payment time coming, very risk if try to get loan using bitcoin or altcoin. Maybe if you not have any option better not take loan payment using bitcoin, you will be hard how to pay later when price is up more than 100% because bitcoin price today looks raise again.

[Rana590]

I don't think it would be wise to buy Bitcoin with a loan.  In this case you should invest knowing more.  At present you can invest in Bitcoin as much as you can.  In addition, if you have little capital, you can invest in cheap coins.

[South Park]

We saw many people that invested in bitcoin using loans and for the most part they lost and the worst part is that they lost money that it was not even theirs which meant that they had to pay the debt and they got nothing to show for, personally I think people like that will never make it in the market as they are unable to wait so they can save their own money, it is not like the markets will disappear, if you take a few years to save money you could became a great trader during that time and then make money without asking for a loan.

As you said, the majority of borrowers fall into a loss but another part is still successful, maybe this probability is relatively low but why not we find out the cause of this failure? Increases our chances of becoming a successful bitcoin investor through a loan, common causes for loss are lack of knowledge and patience, emotions are also a limited part of success. In addition, the pressure from the loan and forcing yourself to succeed immediately, it easily leads borrowers to make mistakes, qualifying necessary, the loan will no longer be a great risk, it is even a bridge to shorten the path to success

You are correct when you say that I remember a few that earned money by taking loans, but the reason I am completely against it is that you are handicapping yourself unnecessarily, becoming profitable in the market is so difficult and only a minority are able to do it that asking a loan on top of that means that your chances become even lower, in fact while I never took a loan I simulated this once and it was incredibly difficult for my system to come up ahead even with the smallest interest rate available in my country.

[Question123]

For the people who taking loan to buy bitcoin in the last few years are earned more profit if the loan they got is the purposes is to hold bitcoin. But now it is risky to invest to the bitcoin if the money they use from the loan because what if you invest and the price of the bitcoin dump and you need to pay the loan that you use in buying how you will pay it and for sure it has interest that will gives you more stress.

[Benefactor]

There isn't any assurance that the benefits that you will get in crypto will beat the premium the bank forces on the credit. There is no amiss with taking a credit for exchanging however make sure that you have any back-up assets to pay your advance once you come up short in exchanging. You can't dodge misfortunes in exchanging and in the event that you just barely depend on the benefit that you may get from exchanging, that appears to be a weight to you.

[Kittygalore]

For the people who taking loan to buy bitcoin in the last few years are earned more profit if the loan they got is the purposes is to hold bitcoin. But now it is risky to invest to the bitcoin if the money they use from the loan because what if you invest and the price of the bitcoin dump and you need to pay the loan that you use in buying how you will pay it and for sure it has interest that will gives you more stress.

You're right, taking loans now that the prices are doubled than what everyone speculated before everything is far too risky to do it, unless you have the money to survive because there is a possibility that you won't get a profit for awhile, maybe as @Question123 said, if you could have taken a loan back when the prices were not pushing around 5 digits in US dollars, maybe you could've get a decent or enormous profit. Worth mentioning that loans are expensive as they incur interests which will eat away your profits anyway if you were to be late for the payment.

[carlfebz2]

It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later.

It wouldn't hurt you much if bitcoin crashes then go ahead and take a loan to buy bitcoin. As I believe bitcoin is still very good for long-term investment. A lot of influential people and big companies have started investing in bitcoin. So, the future is bright.

Then how long you would consider on repaying up those loans? Unless if you can repay it without relying into the money you had borrowed to be invested then its good but
if you are depending on it then this would really be a very bad idea.

When it comes to future then nothing is assured but bitcoin didnt really fail to impress us when it comes to that manner.All we do need is patience.

Not all would really be having that same characteristics when it comes investment or being patient.Not all would really be willing to wait and make up
decisions according on the situation they are in.

[Japinat]

Taking a loan on bitcoin is very risky, we might think that it's okay to borrow in BTC as the price is stable and we can still pay the interest, but wat if the price will pump, like for instance, you borrow 1 btc worth or $10k and suddenly in just less than 6 motnhs price went to $60k for 1 btc, I think your struggle will start.

So I would suggest not to borrow btc for personal needs, otherwise you'll face the problem I've mentioned.
I experience that...

[matchi2011]

Taking loans to buy crypto is not recommended but if you know how to handle your loans and at the same time knows how to trade and invest in bitcoin to earn profit and not losses, then you can take loans. Also, it's only you who will take the risk after all. If you loss your bitcoin and can't pay back your loans then you just give trouble to yourself. So be careful and think many times before taking any action and decision.

If you have the right knowledge and discipline, taking a loan may help you to grow your investment, but it's not
recommended as it's far better to start small without thinking of any loan.

It adds up to your aggressiveness since you are thinking that you need to have profits to cover your loaned
money and to continue surviving your investment.

[k@suy]

For the people who taking loan to buy bitcoin in the last few years are earned more profit if the loan they got is the purposes is to hold bitcoin. But now it is risky to invest to the bitcoin if the money they use from the loan because what if you invest and the price of the bitcoin dump and you need to pay the loan that you use in buying how you will pay it and for sure it has interest that will gives you more stress.

If theybreally believe that bitcoin might go higher than usual maybe taking a loan can be good as well, i am against to any loan yes but if you will look to the brighter side and to the profit that you will be getting in the long run, you can earn more from what you are having right now, but loan or debt cannot be considered an investment because that is liability so you should take care of it first then you can add your profit later on to your networth.

[Ibrahim60]

This is not a good decision in this time. Because Bitcoin price is now volatile. In the present time bitcoin price is much high. You can taking loan and buy Bitcoin when its price getting some low. Because Bitcoin is a good coin. So wait some days and wait for price getting some low. Then take loan and buy Bitcoin for making good profit.

[molsewid]

To be honest, it will only put a burden on us if we use borrowed money. Even using personal money, we still think about losses etc. if we continue to make that decision, make sure you have another income that can afford to pay interest each month. of course with borrowed money we cannot predict the profit every month from trading, then when we lose if there is no other money for us to pay?

It is indeed and will surely become an addendum to your life's burden and problem in case. Actually having a debt was a total package solution enough to stress you out and considering a taking a loan to bank to buy bitcoin has no difference by debting. Aside from taking a loan to buy bitcoin instead, why not try to focus participating here in signature campaign where you didn't need to pay out your cash to be able to have a crypto, instead the profit that may get from it was good enough if accumulated.

[ScamViruS]

I don't think it would be right to borrow money and invest in Bitcoin. I'm telling you honestly, so my words may not be acceptable to you. There are two things to consider when making any investment: profit and loss. Now if you invest only for profit and ignore the chance of loss then it will be a bad decision for you.

If you want to invest in Bitcoin, you have to pay more attention to long-term hold, if you have the idea of ​​making a quick profit, you should avoid it and invest. So it seems to me that investing in Bitcoin by borrowing can be risky if the market is volatile.

[Quidat]

To be honest, it will only put a burden on us if we use borrowed money. Even using personal money, we still think about losses etc. if we continue to make that decision, make sure you have another income that can afford to pay interest each month. of course with borrowed money we cannot predict the profit every month from trading, then when we lose if there is no other money for us to pay?

It is indeed and will surely become an addendum to your life's burden and problem in case. Actually having a debt was a total package solution enough to stress you out and considering a taking a loan to bank to buy bitcoin has no difference by debting. Aside from taking a loan to buy bitcoin instead, why not try to focus participating here in signature campaign where you didn't need to pay out your cash to be able to have a crypto, instead the profit that may get from it was good enough if accumulated.

Remember that not all people do know about this forums existence or doesnt have an account for them on sufficiently able to participate on signature campaigns.Therefore,
this kind of option isnt really for everybody and this is why other people who do really end up on this kind of option on taking up some loan for them to invest with bitcoin.
This is really adding up on the burden on someone just like on bank loans but if you do know that you can really pay it off then i dont see for such problem
but if you do really rely on the profit it make for you to pay those interest then better not to have this option.

[Ryker1]

^[snip]
If you want to invest in Bitcoin, you have to pay more attention to long-term hold, if you have the idea of ​​making a quick profit, you should avoid it and invest. So it seems to me that investing in Bitcoin by borrowing can be risky if the market is volatile.

Well, perhaps if you have a plan to invest in bitcoin always remember as they said, --invest only in what you can afford, if not then, there is another chance that you can buy bitcoin without having any debt. Because that is a debt and it will remain debt even if you think you will gain profit once the bitcoin market at the bull trend. However, this is the fact, there is no quick of gaining profit in crypto, it is always having a volatile price and it could be you will have a doubled loss from borrowing money as paying the interest and your investment if you cant wait and immediately sell.

[livingfree]

It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later.

It wouldn't hurt you much if bitcoin crashes then go ahead and take a loan to buy bitcoin. As I believe bitcoin is still very good for long-term investment. A lot of influential people and big companies have started investing in bitcoin. So, the future is bright.

Not a very good idea to encourage people to take loans. But that's you people if you think that it won't really be hurting you then do it at your will.

Because in the past, there were the same thoughts and words but in the end, when they see bitcoin starts to crash, they're putting much blame to others who have told them to do it.

[Viscore]

It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later.

It wouldn't hurt you much if bitcoin crashes then go ahead and take a loan to buy bitcoin. As I believe bitcoin is still very good for long-term investment. A lot of influential people and big companies have started investing in bitcoin. So, the future is bright.

Not a very good idea to encourage people to take loans. But that's you people if you think that it won't really be hurting you then do it at your will.

Because in the past, there were the same thoughts and words but in the end, when they see bitcoin starts to crash, they're putting much blame to others who have told them to do it.

Once they decide to borrow money to buy bitcoin or to invest with bitcoin, they should already know the risk as in investing, you might succeed or fail, that's the only two possibility. I think this strategy will work as long as you don't borrow from the long shark, let's say you borrow and you'll pay 1% interest per month, so you are already profitable now as bitcoin have already increase more than 300% in just less than 6 months.

[BuNga_cute]

We know trading on Bitcoin is an activity that has a high enough risk. And also in Bitcoin trading there is no fixed profit. Sometimes we can profit
and there are also times when we have to lose. The conclusion is that income from Bitcoin cannot be a steady income. Therefore if we borrow money
to buy Bitcoin, it will only add to the problem. Because borrowing money, there must be regular installment payments. Meanwhile, the income earned
from trading is not routine. My advice is to buy Bitcoin, we should use the extra money we have, so when we fail to get profit, there is no need to panic
and be patient for holding Bitcoin until the Bitcoin price goes up again.

[Hippocrypto]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

I don't recommend this idea of taking loans my friend, on my personal experience I did an attempt to loan just for that purpose but I was declined by banking agent. They never trusted the purpose for cryptocurrency investments, but partly they're right in the first place. There's no assurance when you're going to risk in trading, however if there's an opportunity to buy bitcoin at much lower cost from it's price as of today I would love to take chances using my savings.
Using that money for long term holdings could potentially gain 100% profit in the future.

[Lanatsa]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

I don't recommend this idea of taking loans my friend, on my personal experience I did an attempt to loan just for that purpose but I was declined by banking agent. They never trusted the purpose for cryptocurrency investments, but partly they're right in the first place. There's no assurance when you're going to risk in trading, however if there's an opportunity to buy bitcoin at much lower cost from it's price as of today I would love to take chances using my savings.
Using that money for long term holdings could potentially gain 100% profit in the future.

Taking a loan with having that kind of reasoning to banks? For sure you would really be getting 101% decline with that because knowing banks do really hate crypto
and as a side note it wouldn't show stable income with that and since these institutions are really meticulous then its no surprise for such decline.

Using up your savings will be your last resort but doesn't mean that you would need to risk it out all because nothing is assured when it comes to crypto investment.

You wouldn't know on when it would pump and when it would crash which would neither result on having gains or simply a loss.

[coiner-88]

Notwithstanding, being reasonable and judicious about this, the danger associated with credited add up to purchase crypto is way higher contrasted with your genuine cash that you approve of losing. There is no amiss with taking a credit for exchanging however make sure that you have any back-up assets to pay your advance once you come up short in exchanging.

[elisabetheva]

Taking a loan with having that kind of reasoning to banks? For sure you would really be getting 101% decline with that because knowing banks do really hate crypto
and as a side note it wouldn't show stable income with that and since these institutions are really meticulous then its no surprise for such decline.

Using up your savings will be your last resort but doesn't mean that you would need to risk it out all because nothing is assured when it comes to crypto investment.

You wouldn't know on when it would pump and when it would crash which would neither result on having gains or simply a loss.

Borrowing for crypto is definitely not something I would best agree with, let alone a loan to a bank. Besides, we really believe that what we will do can certainly return or get benefits. so that you can return the loan not to be a burden in the future. because a loan to a bank will be the best alternative if we believe in it and there is no other alternative, because maybe we don't have cash funds.

true, that is not a strange thing anymore and we ourselves know that crypto is very unstable and difficult to predict its movements. but if you are sure of the analysis that has been obtained based on your experience, there is clearly nothing wrong with investing in crypto. because it is clear that until now crypto is still a profitable investment.

[Ziskinberg]

Perhaps, You are right, but it is better to move on and forget about trading as we don't have any capital to start. Maybe in the future, if the time permits and when we have enough capital to start.

Notwithstanding, being reasonable and judicious about this, the danger associated with credited add up to purchase crypto is way higher contrasted with your genuine cash that you approve of losing. There is no amiss with taking a credit for exchanging however make sure that you have any back-up assets to pay your advance once you come up short in exchanging.

Not unless if he is really good at trading but as we all know that trading is so risky and that losses will always come to us, this makes not a good idea.

It is very important to think wisely and we don't need to compromise ourselves in the coming days just for the sake that we wanted to trade. Because that will also affect our decisions and possibly, we can't make good decisions.

[livingfree]

It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later.

It wouldn't hurt you much if bitcoin crashes then go ahead and take a loan to buy bitcoin. As I believe bitcoin is still very good for long-term investment. A lot of influential people and big companies have started investing in bitcoin. So, the future is bright.

Not a very good idea to encourage people to take loans. But that's you people if you think that it won't really be hurting you then do it at your will.

Because in the past, there were the same thoughts and words but in the end, when they see bitcoin starts to crash, they're putting much blame to others who have told them to do it.

Once they decide to borrow money to buy bitcoin or to invest with bitcoin, they should already know the risk as in investing, you might succeed or fail, that's the only two possibility. I think this strategy will work as long as you don't borrow from the long shark, let's say you borrow and you'll pay 1% interest per month, so you are already profitable now as bitcoin have already increase more than 300% in just less than 6 months.

Fail or success.

It's always the two way around if you invest.

If you take loan and do it for investing in bitcoin, you'll have to wait for unknown time until you profit. If you think that you can sustain the payments and interests that will occur through your loan.

You do it.

But for me, it's not really going to work. I will not take that type of risk.

[ReiMomo]

~snip~
But for me, it's not really going to work. I will not take that type of risk.

It's typically a risky type of investment. I will not also suggest and enter that risk just hoping to gain profit because there's no way to determine the time frame of getting your profit while the interest of your loan is kept moving while you are hoping that bull trend will come.

This will also I guess broke the golden rule of investors in crypto (invest in what you can afford), if you can't afford it, don't push yourself into entering into another high risk that could be your burden if you can't recover your debt. Just play safely in investing in crypto.

[Hamphser]

Taking a loan to Buy Bitcoin could be the  starting point of your  wrong move, there are so many options for us to have bitcoin. Don' t you know that even your not using any amount of money you can still have a chance to have Bitcoin or earn it? The question is how? You can do this by simply joining the bounty campaign depending on the categories in which you think you are suitable with it.

Not all do knows this forum and not all would really be directly having a high ranking account to deal with bounties or signature campaigns or task that do give out bitcoin or top alts as a payment.

So this option or method is just suited out for some numbers but not as a whole this is why people do consider on the simplest one which is to take loan on making out investment.

I agree that this one will be the starting of the wrong move because paying up interest without knowing your profitability in crypto.

If you can pay it up then dont bother but if not then better not to consider this option.

[livingfree]

~snip~
But for me, it's not really going to work. I will not take that type of risk.

It's typically a risky type of investment. I will not also suggest and enter that risk just hoping to gain profit because there's no way to determine the time frame of getting your profit while the interest of your loan is kept moving while you are hoping that bull trend will come.

This will also I guess broke the golden rule of investors in crypto (invest in what you can afford), if you can't afford it, don't push yourself into entering into another high risk that could be your burden if you can't recover your debt. Just play safely in investing in crypto.

But there are people that are too aggressive and would do this no matter what others say because they believe on themselves.

Right, don't push to the point that you have to borrow or take a loan just for it. You're better if you're free and no obligation of thinking to pay off because you've asked a loan.

Your money, your investment. But if it's a borrowed money, it might put you into a bad debt.

[South Park]

There isn't any assurance that the benefits that you will get in crypto will beat the premium the bank forces on the credit. There is no amiss with taking a credit for exchanging however make sure that you have any back-up assets to pay your advance once you come up short in exchanging. You can't dodge misfortunes in exchanging and in the event that you just barely depend on the benefit that you may get from exchanging, that appears to be a weight to you.

Right now that is probably the biggest problem, we all know that the market of cryptocurrencies can grow incredibly quickly but if you happen to invest at the wrong time and the interest rates that you need to pay are very high it is possible that even with a huge bull run in the future you will still not be able to make profits out of your investment when you take that loan, as such it is very risky to take such a measure and it is better to just save whatever money that you can and then invest that in the market.

[Traderbtcc]

  it's a risk I won't ever think of taking cause it's not a guaranteed return, alot of experts here have said this times without number that investments are done with money you can afford to lose, not a loaned money cause it might not give you whatever your desired return now, the crypto market isnt a rocket that will keep going up forever, it's all about ups and downs I'm not saying buying bitcoin is bad, but using a loaned money  is an unwise choice.

[dunfida]

If you use the borrowed money to buy bitcoin when the price is this expensive I think it is very risky, but when the price of bitcoin is still below $20k and you use the borrowed money to buy bitcoin then now you should be able to get rich because you can get a lot profit from rising bitcoin prices.

Getting rich? It would vary on how much you had invested on it, unless if you do go all in and the price had able to climb up on another 100% or 150% then you would really be getting some significant amount of
profits.It isnt just right to talk about getting rich if you have just invested $1000 as a loan even on 20k price point and the price had climb up to 50k+ or something.It will always vary on the amount been put up.

[TastyChillySauce00]

It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later.

It wouldn't hurt you much if bitcoin crashes then go ahead and take a loan to buy bitcoin. As I believe bitcoin is still very good for long-term investment. A lot of influential people and big companies have started investing in bitcoin. So, the future is bright.

True, if the sole purpose of taking loan to buy bitcoin isn't to disrupt their financial condition because it's not that big amount and could be easily repaid then it does make sense but people who goes all in like this using loan usually have no money themselves and hoping to get rich quick which is very dangerous. but at least if btc crash the money won't be gone and reduced into 0, worst case scenario could lose half the amount of initial capital.

[Ziskinberg]

It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later.

It wouldn't hurt you much if bitcoin crashes then go ahead and take a loan to buy bitcoin. As I believe bitcoin is still very good for long-term investment. A lot of influential people and big companies have started investing in bitcoin. So, the future is bright.

True, if the sole purpose of taking loan to buy bitcoin isn't to disrupt their financial condition because it's not that big amount and could be easily repaid then it does make sense but people who goes all in like this using loan usually have no money themselves and hoping to get rich quick which is very dangerous. but at least if btc crash the money won't be gone and reduced into 0, worst case scenario could lose half the amount of initial capital.

That's betting on bitcoin from the amount of money you borrow, that's okay if you have the capacity to pay not relying the outcome of your investment, but if you do, then you might be in trouble as bitcoin is so volatile and there are bullish period and bear period which could give you a problem.

[poldanmig]

Nowadays taking out a loan to buy bitcoin is the wrong move. there we will lose money and also lose investment because of the risk, of course, if you buy bitcoin at the current price.
You should have bought when Dhip was like last year because there were all cheap prices and we could get big profits. for now I think there is a big risk if you still make decisions on taking a loan to buy bitcoin

[josgandosbro]

Nowadays Bitcoin price increase day by day. So plan to work out the process. If want to invest Bitcoin. Check the marketplace price. Then invest it. Bitcoin is any time to change. So wait for the Bitcoin price down. Then invest it. After invest the Bitcoin then hold the long time and wait for the price increase. Then time to sell the bitcoin.

[livingfree]

I have been thinking about it too, it sounds pretty interesting to take a loan to buy BTC I guess.. But I might be too late already

You're not late to buy bitcoin. You can buy bitcoin at any price that you desire and if you have plans of looking forward on it in the future.

But the idea of taking loan for bitcoin. You shouldn't give it a try, it might give you bigger problems if you're going to do it. That's why it's better to invest in bitcoin with your own money.

Yeah, coming from your own pocket.

[Fatunad]

I have been thinking about it too, it sounds pretty interesting to take a loan to buy BTC I guess.. But I might be too late already

You're not late to buy bitcoin. You can buy bitcoin at any price that you desire and if you have plans of looking forward on it in the future.

But the idea of taking loan for bitcoin. You shouldn't give it a try, it might give you bigger problems if you're going to do it. That's why it's better to invest in bitcoin with your own money.

Yeah, coming from your own pocket.

Making out loans will really be meaning out that you would really be repaying something which means if you do really rely on it then you would really be having a problem.

Taking a loan isnt always ideal even on just those normal days of living where taking loan for something it would really be that recommendable.If you could able to  pay it up then
its fine but if you are relying on profits then that would risky.
This is why having a savings intended for future purposes can be also used for investment too if youd like.

[Distinctin]

I have been thinking about it too, it sounds pretty interesting to take a loan to buy BTC I guess.. But I might be too late already

You're not late to buy bitcoin. You can buy bitcoin at any price that you desire and if you have plans of looking forward on it in the future.

But the idea of taking loan for bitcoin. You shouldn't give it a try, it might give you bigger problems if you're going to do it. That's why it's better to invest in bitcoin with your own money.

Yeah, coming from your own pocket.

Making out loans will really be meaning out that you would really be repaying something which means if you do really rely on it then you would really be having a problem.

Taking a loan isnt always ideal even on just those normal days of living where taking loan for something it would really be that recommendable.If you could able to  pay it up then
its fine but if you are relying on profits then that would risky.
This is why having a savings intended for future purposes can be also used for investment too if youd like.

It's a risky move but if you know how to calculate the risk you might be successful.

When you can borrow with a low interest, I guess it's worth risking as long as you have the capacity to pay the loan.
A 1% or even 2% per month loan is okay because of the market volatility, price can rise higher than 100% just one month and that would already double your money which means you will be able to pay your loan and take the profit as your capital for trading.

I'm not saying it works all the time, but it could work or fail, and this is only for big risk takers.

[South Park]

There isn't any assurance that the benefits that you will get in crypto will beat the premium the bank forces on the credit. There is no amiss with taking a credit for exchanging however make sure that you have any back-up assets to pay your advance once you come up short in exchanging. You can't dodge misfortunes in exchanging and in the event that you just barely depend on the benefit that you may get from exchanging, that appears to be a weight to you.

Right now that is probably the biggest problem, we all know that the market of cryptocurrencies can grow incredibly quickly but if you happen to invest at the wrong time and the interest rates that you need to pay are very high it is possible that even with a huge bull run in the future you will still not be able to make profits out of your investment when you take that loan, as such it is very risky to take such a measure and it is better to just save whatever money that you can and then invest that in the market.

I think something, if you can take the loan if you have the ability to repay without delay, the investment in Bitcoin can pay off, if you do, it is best to get the money and pay it to the bank quickly, otherwise you should assume, look for and cancel your payment so as not to have a bad credit life, the value in USD or Eur will remain, it is more likely to decrease in value due to inflation, but in Bitcoin as well as you can lose (at the moment it is unlikely) how win and take the best of all risks to make a profit throughout your life, honestly, if I could do it, I would.

That is a possibility but it is not that what margin trading is already about? If so then you might as well use leverage in your trades and forget about the loan especially since the interest rates will probably be really bad taking into consideration the usage it will be given, in any case while there could be some techniques that will allow you to make use of loans while you trade, those techniques are not suitable for newbies or even moderately experienced traders.

[livingfree]

I have been thinking about it too, it sounds pretty interesting to take a loan to buy BTC I guess.. But I might be too late already

You're not late to buy bitcoin. You can buy bitcoin at any price that you desire and if you have plans of looking forward on it in the future.

But the idea of taking loan for bitcoin. You shouldn't give it a try, it might give you bigger problems if you're going to do it. That's why it's better to invest in bitcoin with your own money.

Yeah, coming from your own pocket.

Making out loans will really be meaning out that you would really be repaying something which means if you do really rely on it then you would really be having a problem.

Taking a loan isnt always ideal even on just those normal days of living where taking loan for something it would really be that recommendable.If you could able to  pay it up then
its fine but if you are relying on profits then that would risky.
This is why having a savings intended for future purposes can be also used for investment too if youd like.

Using the savings is much better if you think that you really have to invest.

Just avoid another risk that you will be adding to the risk that you're taking. You are investing with risk through bitcoin although we are all believers of it.

And also, you're taking loan which is also a risk because you'll never know what comes to you upon waiting for monthly obligation paying it.

[molsewid]

I know there are many risks, but seeing how the market is going I think the most appropriate thing despite everything is that if I could ask for a loan, I would give 75% to buy Bitcoin and the other 25% I would have to answer at least for the first ones months of payment while making a profit with bitcoin, or the fraction of Bitcoin that has been bought, would try to take out at least 6% quarterly to pay the debt.

It's a total kind of risk taking a loan just to buy bitcoin but if you know in yourself that you are knowledgeable enough, responsible enough to handle that loan, can generate a profit and know how to play the market enough then i guess considering taking a loan wasn't that bad though. Maybe a proper distribution if a loan should consider because at the end of the day your personal choice, your decision and desire will dictate what you.  

[fahmimajannat]

Its quite risky i think.
Bitcoin price can easily fall to 20k/30k even less cause in crypto market anything can happen.
So its better to invest in this kind of risky projects with loan.
If you have quite enough funds in hand to invest then its better to take a place in crypto market.
Otherwise its a risky platform.

[carlfebz2]

Its quite risky i think.
Bitcoin price can easily fall to 20k/30k even less cause in crypto market anything can happen.
So its better to invest in this kind of risky projects with loan.
If you have quite enough funds in hand to invest then its better to take a place in crypto market.
Otherwise its a risky platform.

Never ever consider on getting some loan to make out investment unless if you do really knows the risk and could able to pay up if its already in due time but if not then dont make this kind of option.

If you are really on that desperate situation then you can always find ways but not to take up some loan.You can borrow into your family members or relatives at least you could still make up some excuses
when the time you cant repay those loans but actually having this kind of behavior of being evasive in times of payment isnt really that good to look at.

Savings does plays big important role not only for emergency purposes but for investment times too.

[btc-facebook]

Nowadays taking out a loan to buy bitcoin is the wrong move. there we will lose money and also lose investment because of the risk, of course, if you buy bitcoin at the current price.

I agree with you, the risk is too big if investing using loan funds, most people who do this because they only think about profit and do not consider the risk, the risk is if using loan money and the investment does not run smoothly, then he may go bankrupt and sell all the assets he has to cover losses. Not only that, if based on the management, this is not the right decision, because it will only make investors panic easily.

[Reatim]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

I made the same Mistake in 2017 , When i thought the Bullrun continuing the Flow until the end of the year or at least the start of the 2018 like what happen last 2020, But I'm wrong and what happens is when the time i have a Emergency loan to invest in Bitcoin that is the start of the Fall and my funds got trapped for the whole 2018 and makes harder to fill the Loan though i managed to pay it back until 2019 , so now i will never give same advice for any of you , Better to Just invest all you can from your Own money and not from any loans from company or even in individual because the volatility will eat you alive .

[tygeade]

I made the same Mistake in 2017 , When i thought the Bullrun continuing the Flow until the end of the year or at least the start of the 2018 like what happen last 2020, But I'm wrong and what happens is when the time i have a Emergency loan to invest in Bitcoin that is the start of the Fall and my funds got trapped for the whole 2018 and makes harder to fill the Loan though i managed to pay it back until 2019 , so now i will never give same advice for any of you , Better to Just invest all you can from your Own money and not from any loans from company or even in individual because the volatility will eat you alive .

This is the difference, if you get a loan that you can pay back with your regular salary, that means you can take out a loan, but if you take a loan with the idea that you will pay back when crypto goes up, that is a bad loan. For example, let's say you have 5k salary per month (whatever fiat, dollars, euro, not important for this example) and you spend 4k of that every month and save 1k per month and you buy crypto with that, if you think that crypto will go up, instead of waiting, you can get 10k loan, pay it back in 12 months with interest and until that year ends bitcoin could do 2x and you would have 8k profit easily thanks to that.

It could drop as well, but you already save 1k per month anyway so you will not have to touch your crypto. If you did that during 2017 bull run, you would have 3x your profit even from peak of 2017 to peak of 2021 levels which was 20k to 60k levels.

[jack05]

Loans are always bad and must be avoided. If you are taking loan to buy bitcoin at 60k then it's the worst decision. Not many take loan and buy bitcoin when it was at 3k and 4k. We only love a coin when it was at its ATH and thats bad strategy.

[molsewid]

Loans are always bad and must be avoided. If you are taking loan to buy bitcoin at 60k then it's the worst decision. Not many take loan and buy bitcoin when it was at 3k and 4k. We only love a coin when it was at its ATH and thats bad strategy.

Well i guess taking a loan isn't always bad and has a bad effect on the person and also it is depend on how the borrower would going to use the borrowed money in a more profitable one than just wasting it or using it in a thing which he/she couldn't generate a profit from it. I guess the proper handling of loan is a must, and also the mere fact that taking a loan is a total kind of risk especially when a borrower haven't plan where it would going to use or if he already a planned.

[StartupAnalyst]

Nowadays when BTC price reached ATH $60 000 and stabilized on $54 000-56 000 the idea to take a loan and to by 1/3 of BTC seems to me not so bad. Especially because I’ve read some predictions that BTC price can easily reach $100 000 till the end of this spring or somewhere at the beginning of the June and the one of the reason that can stimulate such growth is the third-round of stimulus checks to taxpayers.

[Golftech]

Nowadays when BTC price reached ATH $60 000 and stabilized on $54 000-56 000 the idea to take a loan and to by 1/3 of BTC seems to me not so bad. Especially because I’ve read some predictions that BTC price can easily reach $100 000 till the end of this spring or somewhere at the beginning of the June and the one of the reason that can stimulate such growth is the third-round of stimulus checks to taxpayers.

If those stimulus checks will invested to this asset for sure there's a huge impact that will take place, and following that, there

are also lots of institutional investors who showed interest, it's very possible to see the growth and reaching $100K or more than

that is no longer a far to happen.

Make sure that any action that you''ll take always accompanied by your dedications and right mindsets to succeed.

[Rasel5209]

Can you know surely that bitcoin price increase at this time. Supposed you take loan and buy bitcoin and price fall down, then? Now high risk buying bitcoin cause it price can be fall down any time.

[LUCKMCFLY]

The signs given by the market is Bullish trend, I think it is a bit difficult for Bitcoin's price, if I was my case if I would risk taking a bank loan to buy Bitcoin. A weighing high volatility is very likely to see another Great Pump with new ATH.

Sometimes thinking different you can do that take you to think differently, take more risks and above all go against what most think, and that happens in the market, when everyone expects a movement happens but in the opposite direction. The fact that you ask for a loan to buy Bitcoin should take into account your own payment capacity, if you have to respond at least in the first payment fees.

[zanezane]

Taking a loan will be problematic for you because you can't fully enjoy the profit of buying bitcoin because you have to payback the loan plus its interest depending on how long you are going to pay for it because profiting in bitcoin doesn't necessarily make big profits the moment that you buy because big profits are long term hodling which is not ideal for loans that incurs interest.

[dunfida]

Taking a loan will be problematic for you because you can't fully enjoy the profit of buying bitcoin because you have to payback the loan plus its interest depending on how long you are going to pay for it because profiting in bitcoin doesn't necessarily make big profits the moment that you buy because big profits are long term hodling which is not ideal for loans that incurs interest.

Definitely right input for this one but the interest of your loans wont really be that much off but when it comes to duration then it wont really be that ideal.
Taking some loan for the sake of investment isnt really a bad idea but if that of something that you can risk on and you are pretty much aware of it.
If you dont like to get stressed on paying up interest on a short span of time or term then taking loan wont really be that much of an issue.

[Traderbtcc]

Can you know surely that bitcoin price increase at this time. Supposed you take loan and buy bitcoin and price fall down, then? Now high risk buying bitcoin cause it price can be fall down any time.

I bet he doesn't, probably fomo lead him to thinking that taking a loan to invest in bitcoin is a smart choice which it isn't, cause the price of bitcoin will not keep pumping forever, there will be the bearish season when it might dump below the price he bought and the next thing his collateral will be taken from him, one thing alot of people fail to know is that bitcoin is not a get rich quick scheme, the prices increase over time, it's not guaranteed that you might get a good return in 5yrs from now.

[boyptc]

Can you know surely that bitcoin price increase at this time. Supposed you take loan and buy bitcoin and price fall down, then? Now high risk buying bitcoin cause it price can be fall down any time.

That's why a person who thinks that he should take a loan must think again.

Just like the example of today, the price seemed to recover for a while and an investor can think that it's about to recover continuously but suddenly it has fallen down again.

So what if during that time he has took a loan, then he's already in loss and might take it emotional where the problem goes deeper.

[Smitty Werben Man Jensen]

ohh that's very risky mate !, taking a loan is better to open a business in the real world,
because investing is not something easy to do, indeed in the crypto world, many are successful because of investment,
but it can be a weapon that will launch you yourself, for I am taking a loan and buying cryptocurrency is something to avoid.

[isaac_clarke22]

Can you know surely that bitcoin price increase at this time. Supposed you take loan and buy bitcoin and price fall down, then? Now high risk buying bitcoin cause it price can be fall down any time.

That's why a person who thinks that he should take a loan must think again.

Just like the example of today, the price seemed to recover for a while and an investor can think that it's about to recover continuously but suddenly it has fallen down again.

So what if during that time he has took a loan, then he's already in loss and might take it emotional where the problem goes deeper.

It still a walking on eggshell situation.
If you're gonna loan, you're entirely sure that you can pay and not relying on probabilities from instabilities to be able to pay.
Don't want to end up paying loan by loaning again.
That would just dig myself in my own grave deeper.

[boyptc]

Can you know surely that bitcoin price increase at this time. Supposed you take loan and buy bitcoin and price fall down, then? Now high risk buying bitcoin cause it price can be fall down any time.

That's why a person who thinks that he should take a loan must think again.

Just like the example of today, the price seemed to recover for a while and an investor can think that it's about to recover continuously but suddenly it has fallen down again.

So what if during that time he has took a loan, then he's already in loss and might take it emotional where the problem goes deeper.

It still a walking on eggshell situation.
If you're gonna loan, you're entirely sure that you can pay and not relying on probabilities from instabilities to be able to pay.
Don't want to end up paying loan by loaning again.
That would just dig myself in my own grave deeper.

That's true.

Some situation really got into that trouble as you've said. Their solution is another loan when they're not yet ready to sell those bitcoins that they've bought.

Just buy when you're ready with your own cash and save to buy bitcoin not loan.

[carlfebz2]

Can you know surely that bitcoin price increase at this time. Supposed you take loan and buy bitcoin and price fall down, then? Now high risk buying bitcoin cause it price can be fall down any time.

That's why a person who thinks that he should take a loan must think again.

Just like the example of today, the price seemed to recover for a while and an investor can think that it's about to recover continuously but suddenly it has fallen down again.

So what if during that time he has took a loan, then he's already in loss and might take it emotional where the problem goes deeper.

It still a walking on eggshell situation.
If you're gonna loan, you're entirely sure that you can pay and not relying on probabilities from instabilities to be able to pay.
Don't want to end up paying loan by loaning again.
That would just dig myself in my own grave deeper.

That's true.

Some situation really got into that trouble as you've said. Their solution is another loan when they're not yet ready to sell those bitcoins that they've bought.

Just buy when you're ready with your own cash and save to buy bitcoin not loan.

There are people who are really ready to play with fire even if they do know the risk but still they do really proceed on taking a loan inspite of the risk attached to it

but if they can be sure on repaying those amount on said due date then there's nothing wrong with that as long you would really be responsible on what are your obligations.

Taking a loan isnt really recommended since do really need to pay up some interest in a short span of time and if you rely with your crypto earnings then better not to make investment at
all and would be better if you do wait up for the right time when you do actually have some savings.

[boyptc]

There are people who are really ready to play with fire even if they do know the risk but still they do really proceed on taking a loan inspite of the risk attached to it

but if they can be sure on repaying those amount on said due date then there's nothing wrong with that as long you would really be responsible on what are your obligations.

Taking a loan isnt really recommended since do really need to pay up some interest in a short span of time and if you rely with your crypto earnings then better not to make investment at
all and would be better if you do wait up for the right time when you do actually have some savings.

Well.

They just do whatever they want if they want to. But I've said that it's not a good idea to take loans. Go ahead if they can pay the interest before the due dates.

[trigger1975]

Do you think taking out a loan makes any sense?

No – trading and investing with any asset (no matter which) shall only be done with capital you can afford to lose.  Greed is a very bad advisor on financial decisions. If price does not what you want, can you stand the heat to follow your plan and exit only where you've decided before?  Or will you hold no matter what unless you cannot stand the pain anymore?  What then?  Revengetrading?  Don't do it.

[conected]

Do you think taking out a loan makes any sense?

No – trading and investing with any asset (no matter which) shall only be done with capital you can afford to lose.  Greed is a very bad advisor on financial decisions. If price does not what you want, can you stand the heat to follow your plan and exit only where you've decided before?  Or will you hold no matter what unless you cannot stand the pain anymore?  What then?  Revengetrading?  Don't do it.

- But facing a big benefit and you don't have enough capital to trigger this reward, how would you do it, accept giving up and see as not seeing it or more ambitious to find out how to activate it. Typically myself in this case, at least I would still write on my spreadsheet a calculation between gain and loss, may not guarantee success but as soon as the calculation has many big breakthroughs and good opportunities through loans, I won't refuse to take risks for success, the future is not only about thinking about failure but it is still possible to think about success

[trigger1975]

Do you think taking out a loan makes any sense?

No – trading and investing with any asset (no matter which) shall only be done with capital you can afford to lose.  Greed is a very bad advisor on financial decisions. If price does not what you want, can you stand the heat to follow your plan and exit only where you've decided before?  Or will you hold no matter what unless you cannot stand the pain anymore?  What then?  Revengetrading?  Don't do it.

- But facing a big benefit and you don't have enough capital to trigger this reward, how would you do it, accept giving up and see as not seeing it or more ambitious to find out how to activate it. Typically myself in this case, at least I would still write on my spreadsheet a calculation between gain and loss, may not guarantee success but as soon as the calculation has many big breakthroughs and good opportunities through loans, I won't refuse to take risks for success, the future is not only about thinking about failure but it is still possible to think about success

It's not about avoiding the risk, it's a matter of risk management.  And there is nothing wrong in taking loans to risk something for success – a lot of entrepeneurs have to take loans to start their business for their own success.  The difference is a solid plan to follow in putting liabilities at risk and to follow that plan.

But he doesn't sound like he has a solid plan on this except take a loan, buy coins and hope for the best. Sure it can be successful and make another 20%, 30% or even 100%.  But he can also catch the wrong time before a major correction. Then what?  Will he have the plan and balls to cut his losses short?  Or will he think: ah, wait a little longer, it'll come back and give me my profit and then wait a little longer and longer unless he can't stand the pain …

He wrote: "I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket." and that's classical FOMO and that's no good advisor.

My point of view: don't do it.

[cyriljundos]

I think what we are seeing right now is a rocket that is launching. I want to get on this rocket and I think any minute it could be too late as there is already all kind of heat shooting out of the rocket. It is hard to get on at this time. So I am considering to take out a loan of say 20.000 Euros. It wouldn't kill me if it fails but I don't think it will fail. Even if it crashes it will come back 2 or 3 years later. And yes we might eventually end up seeing prices of $100M per Bitcoin or maybe $1B. I am saying this not so much because I think Bitcoin is a great invention. I am saying it because I think the Euro and the USD are currently collapsing. Now since Elon has gotten on others will get on. And eventually the government can not make Bitcoin illegal anymore because too many people are heavily invested.

Do you think taking out a loan makes any sense? The problem is that right now I can not do it because due to the lockdown my income is too low. I would have to wait for the lockdown to end. Then I can work night and day for a month so that I end up making like $7000 within a single month. With that I will easily get a loan of 20K maybe even 50K who knows?

Do you think it is worth it? This might be a once in a lifetime chance.

it depends on you if you have the guts and skill to loan big amount of money and invest it in crypto world its totally fine, if you have the skills in trading and yes you can double up your money even more . 450k is so much its a good investment though. just be wise in trading .

[tbterryboy]

There is one more thing that I always say. Let's say you can "save" 300 dollars a month, there is nothing wrong with taking out a loan that has 300 dollars payments monthly as well. Sure there could be the fact that if something wrong happens and you need money urgently that would be sad but I am sure it will be difficult anyway, whereas if you can take out a loan that you can pay easily no matter what, I suggest doing that anything you can.

I like taking out 1-2k loans for example, that way I pay about 100 bucks a month and be done with it in just few months and I just use that money to invest into things whenever I want instead of waiting for months. Of course do not withdraw loans that you will have hard time paying, I never take out a loan that I would need the investments to pay, I rather pay my loans with my salary and just grow my investments in size.

Those people do not make any sense at all, I have a friend who took 60k for 3 years and he would literally pay half of his salary just to loan for 3 years, that was his deal with the bank and if he had to, he would definitely crash and would fail because he had other costs as well for living which is why paying half of your salary to bank for 3 years made zero sense to me. He was thankfully lucky and bitcoin prices went up a lot and he paid most of it already, so he is lucky but I would say what he did was one of the stupidest things I have seen in economics, that was basically forcing yourself to poverty if he was unlucky.

In any case I do like smaller loans, tiny loans, they may not look much but if you do that 4-5 times and then get lucky with a big run like what happened in the last year, you could actually end up with a very decent portfolio.

[boyptc]

it depends on you if you have the guts and skill to loan big amount of money and invest it in crypto world its totally fine, if you have the skills in trading and yes you can double up your money even more . 450k is so much its a good investment though. just be wise in trading .

That can even be burned in trading. It is easy to advise if he has the skills in trading but even the skilled one should avoid doing this.

I've seen in the past about those individuals asking for investments and loans because they're making money in trading. There's no sense in that because you might just pushing yourself to a bigger debt.

Avoid taking loans to buy bitcoin. I've heard of some success stories about those folks who sold everything for bitcoin and even took loans for it but heard many that had shared bad fate with the same strategy.