Should I get a loan?

[Mistafreeze]

Get a loan if paying will not be difficult but since you intend investing it on a long term basis, always try and do market survey on the leading altocoins or probably taking your time to search for new coins that would have greater tendency to appreciate more with time.
Investing in altocoins is a good idea or place on put money on a long time interval. You can always get good altocoins on Binace or coinbase that will have good returns when you invest in them. Just carry out a good analysis on the coins you intend buying.

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[spacelens]

You want to be careful when taking a loan or trading on margin as the market can change direction very quickly. The question is not only if you should take a loan but if you decide to do so, how much your loan should represent in percentage vs. the equity you have to trade. The higher the %, the riskier it becomes.

If you have never taken a loan or traded on margin and decide to do so, make sure to start small so the changes in your portfolio will not impact you too significantly. Try also to understand well all the implications this decision has and read online on what are the benchmark you should follow based on your risk profile. Education here is key.

[ChrisPop]

My advice is to not be greedy. Think very well if you need that kind of pressure on yourself. If the loan would be bigger than 20% of your total portfolio, if I were you I wouldn't take it at all.
Make sure you have other streams of income that can return the money to your family in case your crypto investments underperform.

Never, never depend on one single source of income. I know that maybe you've heard this countless of times, but it is true and many people forget this.

[DarkDays]

As I've read the entire thread, the majority are suggesting not to take a loan. I voted for that as well.
We can take some loan for a reason and even for trading but because this is too risky and less assurance that we can make a good profit (or even to lose all of it), it is not really a good option to take.

Anyways,
I hope OP has to come back in this thread and read our opinion. But of course, it's up to you if you consider our opinion or not as the final decision is yours.

Agreed with most of the votes on here. Now, it is not a good time to take out a loan. This is because the market is not yet clear and getting out a loan which you can't repay back in time will be unnecessary stress. It also depends on the strategy one applies on this loan, though usually given the market situation one would find it difficult to profit and repay back their loan.

[South Park]

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?

First of all this is a public forum you should never disclose so clearly how much money you have invested as that is a fortune for some people and they will do everything to try to separate you from it, second it is also a mistake to get a loan to buy bitcoin especially from your family, even if you are willing to wait for five years to breakeven do you think that your family is going to be able to wait for that long? Most likely the answer is no and this will create problems down the road.

[Fredomago]

As I've read the entire thread, the majority are suggesting not to take a loan. I voted for that as well.
We can take some loan for a reason and even for trading but because this is too risky and less assurance that we can make a good profit (or even to lose all of it), it is not really a good option to take.

Anyways,
I hope OP has to come back in this thread and read our opinion. But of course, it's up to you if you consider our opinion or not as the final decision is yours.

Agreed with most of the votes on here. Now, it is not a good time to take out a loan. This is because the market is not yet clear and getting out a loan which you can't repay back in time will be unnecessary stress. It also depends on the strategy one applies on this loan, though usually given the market situation one would find it difficult to profit and repay back their loan.

That last statement carry the loads, it depends from the strategy that you'll going to use, since OP already have a good amount of investment it seems that he's just trying to add more entrusting his fate to this business.

It's understandable that if you have a wealthy family and if it's for real tat they'll extend their hands to lend you more funds for your crypto investment, you have to balance your decision-making.

Long term holders way back are all achievers until now, they managed to trust and harvest the fruit of their success.

[abel1337]

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?

First of all this is a public forum you should never disclose so clearly how much money you have invested as that is a fortune for some people and they will do everything to try to separate you from it, second it is also a mistake to get a loan to buy bitcoin especially from your family, even if you are willing to wait for five years to breakeven do you think that your family is going to be able to wait for that long? Most likely the answer is no and this will create problems down the road.

Agree, Disclosing the funds to the public could result in a hacker's potential target.

Invest what you can afford to lose, An old quote but still gold in values. The effects to you when your loaned investment crash would be greater than when you gain from the loan. The trust of your family members would slowly tear apart if your investment crashes or just keep promising to repay it for a long time. I really can't recommend any kind of loan when investing in crypto. I myself hate loaning that I don't really take any kind of loan inside and outside the forum even if there is no interest in it. It is such a burden and could break your peace of mind.

[CryptocurencyKing]

All th le conditions seems perfect for a loan offer.
1. The crypto market is at a low looking at the all time high and where it dropped to now
2. The loan is from the family
3. It comes with an interest free package
4. Its for investment purposes, 5he kind that you stand to benefit by hodling. Though one thing isn't clear to me. That is,

If your family is prepared to wait on you for the 5years before a refund. Should they be willing to wait and your sure you'll be able to hodl, a loan at this moment for the purpose of investment isn't a bad idea at all. The best way to gain the market is by bringing in new money and that would be just it.

[milewilda]

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?

First of all this is a public forum you should never disclose so clearly how much money you have invested as that is a fortune for some people and they will do everything to try to separate you from it, second it is also a mistake to get a loan to buy bitcoin especially from your family, even if you are willing to wait for five years to breakeven do you think that your family is going to be able to wait for that long? Most likely the answer is no and this will create problems down the road.

I dont see any problem with this because no one can know on whose the person behind the account telling off that he hold up much money.
As long you dont give out some important details and you are much aware on how to be safe then i dont see any problems with that.
Its just way too big for someone to have such amount and still considering on taking a loan despite of the money he had currently have?
Better convert those alt profits in Bitcoin if he do intent to store up Bitcoin for long term.

[rhodelmabanal]

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?

You need to be sure about you're dicision because even if the loan is from your family it doesn't mean that they will not get that loan back even if without interest they will get the capital back. But that was still a big advantage in you're part imagine you will get a loan without interest, but if you will use that loan in crypto then you better think twice because crypto is high on volatility and you need patience.

[flyer88]

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?

You already have enough capital, why are you looking for a loan to your family? It's better to have money that already exists, you develop it so that it becomes more than before. It is very risky to play bitcoin from borrowed money. Because we never know what bitcoin will be in the future. Better to just undo it. Instead of later if it happens outside of what you want, the family will stay away just a matter of money.

[jaberwock]

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?

Uuhm, I never liked the idea of taking a loan for investments especially when it's cryptocurrency. But since you said it's from your family, if they wouldn't bother much about it, then maybe you should give it a try. And before you do that, I think it will be good if you explain to them what it's all about and let know how long you might have to hold their money before you pay them back.

The market is relatively down now and we don't know whether it will go down further or just remain at the current price that we have right now. You can still invest now and continue to hold. Maybe the next halving will bring a bigger bull run than what we saw this year.

[kurniawan05]

No, Don't use loan to trade crypto, you must have assets that you must be prepared to lose, try to find sources of crypto income for free, for example by participating in bounties or airdrops.

[Tigerheart3026]

although you get a loan, no interest you have to pay for it's on behalf of the family,
but i do not think you need to take out a loan despite having such a large amount of holding assets in btc and other altcoins.
problems can arise if your family is suddenly under financial pressure.

[Benefactor]

The crypto market is exceptionally unpredictable and that implies if any coin can rise whenever. There is another crypto that can rise a great deal very much like KSM, ETH and some more. It's a similar like when you were seeing Ethereum in the past when it was so modest yet because of the solid principal and backing from the local area and Ethereum can go to the moon simply in under a quarter.

[Mahanton]

The crypto market is exceptionally unpredictable and that implies if any coin can rise whenever. There is another crypto that can rise a great deal very much like KSM, ETH and some more. It's a similar like when you were seeing Ethereum in the past when it was so modest yet because of the solid principal and backing from the local area and Ethereum can go to the moon simply in under a quarter.

No one can assure on what would the future holds and you are right where i do remember those days where ETH is just starting up and it isnt really getting much of attention and to those who had risk out on supporting it did really paid off when it begins to get some recognition as the months pass by.Yes its a bit of a gamble on selecting out which coins should be invested if we do consider on how many projects in the market then you would really
be having a hard time but with proper search and proper risk management then you can eventually at least do know on what you are doing.

[isaac_clarke22]

~

Dunno who he is, but I imagine how he is determined to do that kind of risk.
I am not even sure if I can repay that much if I was under his shoes, especially in this market condition where BTC go from 60k-ish down to 40k-ish.
Ugh, the financial stress.

[kram31]

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?

You have a large amount of money dude. Actually, that amount of money here in my country is equivalent of millions here where
I can able to have a brand new house and lot, vehicles and business own for sure. But I wonder why Loan? isn't much better to lend your
family with your own family instead what you are planning? You don't need others opinion, you have the money and capable to do it.

[awik p]

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?

You have a large amount of money dude. Actually, that amount of money here in my country is equivalent of millions here where
I can able to have a brand new house and lot, vehicles and business own for sure. But I wonder why Loan? isn't much better to lend your
family with your own family instead what you are planning? You don't need others opinion, you have the money and capable to do it.

with that much money I think you can maximize the capital, but it's a different story if you want to get even more profit. but what do you borrow from a relative if you want no interest. I think it actually disturbs our psychology. we know in this business psychology is the most important thing

[chikading2016]

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?

My opinion is that it is ok that you will loan to buy some more bitcoin specially when the loan is interest free. It an advantage that the loan is interest free it is safe than the loan with interest, it is also best strategy if you will not fucos on bitcoin there are so many altcoins that also good for investment.