Should I get a loan?

[Bitcoin10003]

Currently I have $109,750 in Bitcoin and $60k in alts.
 
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
 
However, I could use some opinions first. What do you guys think I should do?

[BitMaxz]

If the loan is from your family without interest that's a good decision but without waiting for the dip price you will lose a big amount of investment.

And another thing is we don't know if the price of Bitcoin on the next block halving will be the same as what happened this year.
We are not a fortune teller and we don't know what will be the price of bitcoin in the next day, months, or years or even in decades. Bitcoin is too volatile there is no perfect prediction on the Crypto market but if you believe in Bitcoin and willing to lose then go buy without waiting for a cheaper price.

For me, it would be better to wait 1 more month to decide if you are going to buy or not if we see a downtrend then let it pass and wait for around $15k to $25k before you invest. This is just my own prediction and analysis due to recent events happen and the price movement.

[GreatArkansas]

(.....)

You already have the money why you should take a loan for? This is just an advice but if I do have that kind of money probably I'll just make it grow through trading, maybe studying trading will help you earn more alts or Bitcoins but getting a loan I think that's not necessary, though that's just my personal opinion.

Probably a small amount of money for him/her. And for sure OP is using the interest-free loan which is kinda good, and the OP got money, the best thing to do is save it for the last defense, like if the loan will get rekt for buying altcoins or bitcoin, then OP got some extra money to pay the loan.

[Jawhead999]

Since the loan is from your family and no interest, at least you wouldn't be stressed to pay the interest even though your investment in loss.

I don't think buy Bitcoin in single time is really a good choice, however buy every dip is better to minimize loss due to volatility. You could split and place buy orders on every $35,000 $30,000 $25,000 and so on depends on your strategy. But the profit you'll got isn't really high compared buy all in single time.

[mk4]

It really depends on some factors. What if your family suddenly needed the money for whatever reason(emergencies, etc) and at the time when they need it bitcoin and the cryptocurrency markets hasn't bounced yet? You'd be screwed.

Overall, this is something I personally wouldn't do. Yes, we have hype cycles and such that in 5 years there's a good chance that bitcoin is a lot higher from here, but always remember that nothing, I mean nothing is guaranteed — and that includes bitcoin going up.

[Maus0728]

Sure that you have a really massive amount of money invested in crypto and you have the capacity to pay off your loan to your family if ever the market declines, but isn't that enough? I am just saying that be aware of your greed because it is more likely that you'll find yourself in a debt spiral as your greed develops.

Though it is possible to get a loan, however, you should have at least consider having other source of income since you are responsible for loan repayments every month if that's the plan between you and your family. At the end of the day it is a gamble and that's for sure, it is a big win if the price goes otherwise you'll end up getting rekt.

[Wexnident]

Are you sure about that? Is probably the question you should ask maybe 5 times a day before the final day of decision making. As much as I advocate Bitcoin just being in a correction and would eventually go up, it isn't really recommended to actually take loans to do investments. There's just no guarantee of you returning it. If it was your money, fine it's okay, it is yours, but in case of loans, it isn't, you gotta pay it back somehow.

Interest-free or not, a loan is still a loan. If it isn't a big amount it should be fine, but since you are investing I hardly doubt it's a small amount. Probably talk with your family and actually consider getting a contract of sorts for it so that every detail is clarified.

[Zilon]

Taking a loan from a family to invest in coin is not a bad idea where the problem lies is will you be able to overcome greed when the price starts appreciating?. Would you have the mindset to break even when you hit your target or would greed overwhelm you? This has always been the problem of most cryto investors and many loose fortune after seeing massive profit but bluntly refused to take from it.

[hugeblack]

What is the goal of this loan, do you take advantage of the opportunity that the price is low and therefore you will achieve a guaranteed return, or do you plan to benefit from that money?

In general, the golden rule is not to invest more than what you can afford to lose. If the loan amount is sufficient to bear its loss, it is better to do so. I also advise you to invest in Bitcoin more than other currencies because 90% of those currencies fail to reach the previous peaks.

[electronicash]

if its interest-free go for it. just make sure you could pay for it on time because even its coming from a family it's still a loan. you don't cut ties with family who is pretty much close to you. you can argue with someone else and don't care who you could get in trouble with but not with a family.

however, you should know altcoins are risky and the market today is just not very sure where it could go. DYOR first before investing.

[crwth]

You definitely have a lot on your portfolio now. If you want to add more, then you could probably aim to get more money from that. If it's something that you can take advantage of without much risk, then do it. I think it's something that you would appreciate in the long run if you had more in and more chances of possible profit, right?

Just DYOR with what you're investing in then you'll probably be okay.

[Kong Hey Pakboy]

Will your family be able to wait for you to pay in five years though? That's the question that will probably help you decide if getting a loan is going to be the best course of action for you. If I were in your position, I would probably tell them the risk that you would default their loan because there is a possibility that you might take a long time to pay the loan back, now if they are alright with that then you should probably go for it.

[rhomelmabini]

Currently I have $109,750 in Bitcoin and $60k in alts.
 
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
 
However, I could use some opinions first. What do you guys think I should do?

I'm thinking you can do this loan but I don't think that you should bought more alts instead of bitcoins, if you're into hodling it better stay it on bitcoins instead of alts. Not that alts may not worth it but I think if you want to invest in alts select those who has good fundamentals and better research more.

[Beparanf]

Currently I have $109,750 in Bitcoin and $60k in alts.
 
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
 
However, I could use some opinions first. What do you guys think I should do?

Will you mind telling what price you bought your holdings? Actually you can just do margin trading on exchange using your assets as collateral without risking other money. The interest on exchange loan is quite low and acceptable which is good for traders who have a high asset on there portfolio.

To be clear, Margin trading not Leverage/Future trading

[semobo]

Currently I have $109,750 in Bitcoin and $60k in alts.
 
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
 
However, I could use some opinions first. What do you guys think I should do?

Interest free and 5 years then its okay to take loan and invest on cryptos but this is not the right time I guess since the price of bitcoin is dancing around $30K to $40K much often. Wait for the dip then invest on cryptos but choose the coins wisely not the one which are just launched or about to launch.

[bitzizzix]

Exactly the same as my plan happened yesterday when the bitcoin price reached 20K, and I was planning to borrow with one of my family who I think has a lot of money and have discussed and he doesn't allow interest because he believes, at that time I plan to borrow according to the price of 1 Btc.
and after that I thought a lot and imagined if it didn't match my expectations, and finally I decided to fail and when the price of bitcoin and other cryptocurrencies continued to rise I felt sorry, what's more when the price of bitcoin touched 65k I became more sorry because if that happened I double the profit.

and this is just an example and confusing, only two will accept the loss if it doesn't live up to expectations and also regret it when the price keeps going up and not borrow it.

[Taskford]

Currently I have $109,750 in Bitcoin and $60k in alts.
 
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
 
However, I could use some opinions first. What do you guys think I should do?

Do you really know the risk of crypto investment? Since if not maybe you are been FOMO by someone or seeinf the price started to kick back, better stick with your current balance and make it grow since taking a loan will never be a good idea if you don't know how to trade well.

Better avoid any loans for now and focus on learnings since from there you can identify the real risk of the volatile market.

[mk4]

Taking a loan from a family to invest in coin is not a bad idea where the problem lies is will you be able to overcome greed when the price starts appreciating?. Would you have the mindset to break even when you hit your target or would greed overwhelm you? This has always been the problem of most cryto investors and many loose fortune after seeing massive profit but bluntly refused to take from it.

OP's going to likely have more problems than greed when prices appreciate, assuming that the prices do ended up appreciating in the first place. Knowing that OP's portfolio is a whopping 35% on altcoins, ehh, it's going to be a huge-ass gamble. I though taking loans for bitcoin is bad, but loans for a huge chunk of altcoins? Far worse.

[tranthidung]

Currently I have $109,750 in Bitcoin and $60k in alts.

It is a good capital with which I don't think you should make any loan.

The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.

Free interest is good but one thing you must know.

• Your relatives can give you promises and they are possibly honest with what they say
• Unfortunately, life is unpredictable and if anything happens, your relatives need those money back earlier than 5 years. What will you do?
• I don't expect any bad things for anyone, you or your relatives, but it is life and must thing of such scenario

I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down.

Let's move next, what altcoins do you want to buy with your loan?

• I hope they are not shit meme tokens, shit NFTs
• With top altcoins that have good developments, big communities and good fundamentals, you can load them up. They are different than Dogecoin that appears in top of marketcap but is not a top coin.
• Reminder: I don't think you should borrow a loan

[LeGaulois]

That's crazy. What about if you are never able to reach the break-even point?

I still consider it irresponsible to borrow money to invest. Especially in a market as volatile and unpredictable as cryptocurrency. It's a bit like asking for a loan to buy lottery tickets. If it's to buy a car it's something else, but to gamble? it's very risky in my opinion.
Nobody talks about it but the advantage you have is to go through your family, what if you embarrass them in the case you are not able to pay on time? Who knows if they could be in trouble caused by your wrong decision.

I hope at least you will be able to use your current portfolio to refund in case something goes wrong.
I once met a person who invested in something crazy online ("a semi scam"). He had even had his house mortgaged. Guess what, he lost everything

Do you really know the risk of crypto investment?

Seeing his balance surely yes. Evaluating correctly is another point