Dont just borrow money but for the right reason

[Congyang]

We should not borrow any money or loan if there is no urgent need for it. These days people see that crypto gives a lot of good returns and therefore people take loan to invest in cryptocurrency. This should be avoided because we have to return the loans at certain time and there is no grantee that our investment in crypto will be profitable at given time. In bearish times, we may have to wait few months in order to get any profit.

borrowing money in monthly installments after investing the proceeds of the loan is one of the reckless actions in my opinion, even though there is indeed one person who has the power in a number of times to suggest this but it is still a reckless act.
the rule that until now I hold is to invest the money I have (not too used for the near term). This aims to maintain the stability of the money we have so that we can invest in the long term.
when we borrow money and make investments from that money, won't it only confuse ourselves about installment payments and the market is not always good

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[Xinarae*]

It is better to refrain from borrowing here the interest rate is high and if you can pay on time you are at risk. Most of the people choose the path of loan because of the need for urgent money but if they are not able to repay some part of the loan on time, they lose everything therefore it is better to start with a small amount of capital. Long term investment in bitcoin in crypto will bring good results there is no fear of paying money here this opportunity is available for free.

[suzanne5223]

I don't think borrowing is bad thing but investing in meta verse project need to think. Because technologically it's without a doubt true initiative however there are speculations round there and is virtually luxurious. Should aware about its authentic and authenticity then only jump into the undertaking. 

It's good you know that borrowing money to invest in a crypto is bad but I have a question for you, why do you consider metaverse to be a true initiative after Mark Zuckerberg make an announcement of it last year?
For the record, Metaverse has been in existence since the year 2018 and no one sees it as a true initiative then but I came to understand that most people in the crypto sphere only believe in concepts introduced by well-known figures.
 

[Ozero]

Metaverse is place u invest go to ur bank ask as much you can or sell your assets and start investing in metaverse.

I find this idea crazy. Even if I'm a 100% crypto person, I wouldn't advise this to anyone that doesn't have an idea of what he's about to do. You don't advise people to sell all of their assets for metaverse. They can still stay with those assets and have themselves generated with a new income that shall be invested into the metaverse. I just find this is a bad suggestion since not everyone is already aware of how the market is truly volatile whether it's metaverse or not.

In general, I think that borrowing money, taking loans in order to invest them later in cryptocurrency, is not something that is very risky, it's just a crazy idea. Indeed, in addition to the estimated price for a specific cryptocurrency in which we invest, we also need to calculate the price movement of the market, and for a decent period of time. And it is practically impossible to do this, since no one can say in advance in which direction the market will move in a certain period. Whoever does this, it turns out, just hopes for good luck.

[istiak2277]

It is not wise to borrow money in any business. All businesses may face losses. Even if the business loses, you will have to repay your loan. It can even be a financial burden for you if you can't afford it. And you don't just have to make up for the loss, you must make a very good profit in the business because you have to pay interest on the borrowed money as well as your own profit. Imagine for a second what will you do if your investment goes into a lose.

[stomachgrowls]

I don't think borrowing is bad thing but investing in meta verse project need to think. Because technologically it's without a doubt true initiative however there are speculations round there and is virtually luxurious. Should aware about its authentic and authenticity then only jump into the undertaking. 

It's good you know that borrowing money to invest in a crypto is bad but I have a question for you, why do you consider metaverse to be a true initiative after Mark Zuckerberg make an announcement of it last year?
For the record, Metaverse has been in existence since the year 2018 and no one sees it as a true initiative then but I came to understand that most people in the crypto sphere only believe in concepts introduced by well-known figures.
 

The truth is people will only believe once they see it offered or used by some known personalities, some do abrupt decisions without thinking that causes more problems since they think that they will gain profit by following others without thinking of the results. It will be better to take extra jobs to fund for buying token than borrowing to others especially if we know where not knowledgeable yet of something where getting into.

If you do find yourself to be that impulsive then you should really be mindful whenever you do take up decisions specially into this manner on which you do tend to take some loan or borrowing up money
into someone just because you needed to invest.
Honestly, it isnt bad as long you do know to repay those debts or loans but if you are primarily dependent on the profits for you to pay it off then its better not to consider
on having this option.
Invest on what you could afford to lose and dont push up something which you couldnt able to handle it out.

[SirLancelot]

Even investing in crypto is profitable (specially for long period) still there's guarantee that you'll gain the moment you already need to pay your borrowed money.

Investing is risky and no matter how proven to be profitable it is, dont take a loan just to invest. It is still better save and use it for capital, so regardless of the outcome you dont have to worry since you used your own money.

So be wise and dont make a decision that you'll regret if something unexpected happened on your investment.

The mathematics is that if you borrow 1000 dollars, you do not pay it 12 months later, you pay it monthly. So, let's assume in 12 months bitcoin did a 2x, and even some more, it grows 10% more each month by calculation, you will still lose money. How? Well, let's take an example, you get 1k, and after first month it is 1.1k, but you need to pay 110 dollars, so now you are left with 990 dollars.

Second month it grow to 1089 dollars (10% again) but you still need to pay 110 dollars, so you are left with  979, after another month it is 1076 and you pay 110 dollars and get 966. Basically it goes like this for a whole year and you end up with less money than you took out and you didn't make any profit.

Plus, you need to make 10% every single month back to back for 12 months, how realistic is that? Considering you may even lose money at some months, it is a bad idea even on the best cases, worse on bad cases.

[suzanne5223]

I don't think borrowing is bad thing but investing in meta verse project need to think. Because technologically it's without a doubt true initiative however there are speculations round there and is virtually luxurious. Should aware about its authentic and authenticity then only jump into the undertaking. 

It's good you know that borrowing money to invest in a crypto is bad but I have a question for you, why do you consider metaverse to be a true initiative after Mark Zuckerberg make an announcement of it last year?
For the record, Metaverse has been in existence since the year 2018 and no one sees it as a true initiative then but I came to understand that most people in the crypto sphere only believe in concepts introduced by well-known figures.
 

The truth is people will only believe once they see it offered or used by some known personalities, some do abrupt decisions without thinking that causes more problems since they think that they will gain profit by following others without thinking of the results.

It said some people within the cryptocurrency sphere have the impression only the project that people like Elon Musk, Mark Zuckerberg etc advertise or talk about is a piece of investment advice while no influence advertise Bitcoin until it potential was unleashed to the world.

It will be better to take extra jobs to fund for buying token than borrowing to others especially if we know where not knowledgeable yet of something where getting into.

You make a good point no matter what we said some people will still borrow money and this reminds some weeks ago when I received an email from Binance that they have increased my chance of borrowing money when I haven't borrowed one from them.
I was like why would this people want to earn more money by increasing my credit and I am sure people like the people wont think twice about it.

[dunfida]

There should be an agreement so that it does not become undesirable when borrowing money from relatives, friends, relatives or to the bank concerned so that there is responsibility when we will pay it.

When you do borrow or took up some loan then it would be always attached on when you would pay it.You cannot just borrow without minding with that primary thing because money isnt something that
been earned on easy way for those people who you do borrow from.

Be responsible on how to repay those loans but taking this action or step when you are really out of option towards investment but of course you would still need to pay back those things.
Borrow if its needed but if not and you do still have funds then avoid getting some loan as much as possible.

[lalabotax]

True, if we use borrowed money for something that does not guarantee success, it is not wise.

Wise or not depends on how the person manages the borrowing money.
Sure, no guarantee of success in crypto. Even I never know if there is an investment that has a guarantee of success.
If the person is a professional trader or an experienced investor, I think it is no problem to borrow money. At least, he knows well how to trade or invest properly in crypto. And he must know the safest way to use that money. And if he can get the profits, just prioritize to pay off debt/loan first. Then, the remaining money from the profits, can be used again to rebuy another coin.

[MCcryptonia]

Borrowing money to invest is crypto is not a smart idea because crypto is a volatile asset which means it's high risk and since nothing is guaranteed here why borrow money? You can easily end up in debt using debt 😂

[Fatunad]

Borrowing money to invest is crypto is not a smart idea because crypto is a volatile asset which means it's high risk and since nothing is guaranteed here why borrow money? You can easily end up in debt using debt 😂

For newbies themselves it's too risky indeed and they also still lack experience,
and for seniors I think it's legal because they definitely have a lot of experience and are also smart in managing money

Not all because even you are old or veteran, you couldnt still escape the risks on getting wrecked by the market and if you do took up some loan then you would still need to repay those in due dates.
Similar times and similar risks, it would really just depending on how someone would able to handle it out yet we do have different various sources when it comes to income
but if you do solely rely on current investment you do have made out on those loan amounts then better think again and better not to proceed on.

[Sanitough]

Borrowing money to invest is crypto is not a smart idea because crypto is a volatile asset which means it's high risk and since nothing is guaranteed here why borrow money? You can easily end up in debt using debt 😂

For newbies themselves it's too risky indeed and they also still lack experience,
and for seniors I think it's legal because they definitely have a lot of experience and are also smart in managing money

Not all because even you are old or veteran, you couldnt still escape the risks on getting wrecked by the market and if you do took up some loan then you would still need to repay those in due dates.
Similar times and similar risks, it would really just depending on how someone would able to handle it out yet we do have different various sources when it comes to income
but if you do solely rely on current investment you do have made out on those loan amounts then better think again and better not to proceed on.

I would say that borrowing money for beginners is definitely very risky and will only make your life miserable in the next months. There is no assurance that you will make profits from crypto and if ever if you made profits too, there are no fixed dates. So if you don't have your own money to invest, then never indulge yourself from loans, but save some of your extra money and only invest on the amount you can afford to lose. Even if you have a stable job, taking loans for investments is sometimes not worth it because you won't be making profits at all since you will be paying first the interest of your debt.

[Gorosden]

This is a very bad advice, I still don't understand why humans keeps fate aside and goes on with what people tell them to do, debt isn't for everybody, just because something works your way doesn't mean it will work for others, it can land them into deep trouble, you use debt doesn't mean I should

[xSkylarx]

This is a very bad advice, I still don't understand why humans keeps fate aside and goes on with what people tell them to do, debt isn't for everybody, just because something works your way doesn't mean it will work for others, it can land them into deep trouble, you use debt doesn't mean I should

You still have a valid point, but how do you achieve success if you are not willing to take risks? I understand that if something works for someone else, it does not necessarily mean that it will work for you, but why not give it a shot and see if it is successful on your end rather than taking a chance? Regardless of the risk involved, businessmen and investors are willing to take a chance on their ideas because, if they are successful, they will reap substantial financial rewards from their efforts. The disadvantage is that you will be in debt if your venture is unsuccessful.

[TheEconomists]

Crypto currency investment is always advice to trade with care in other words invest what you can afford to lose. Advising people to borrow from bank for metavers is not a good idea in my opinion. One you made mentioned of how investors should hold from 5 - 10 years and I wonder how much will be the interest rate on such a long term loan and how are we sure the end result will be like that of Bitcoin in the next 10 years. Invest what you can afford to lose good people!!

[lixer]

This is a very bad advice, I still don't understand why humans keeps fate aside and goes on with what people tell them to do, debt isn't for everybody, just because something works your way doesn't mean it will work for others, it can land them into deep trouble, you use debt doesn't mean I should

You still have a valid point, but how do you achieve success if you are not willing to take risks? I understand that if something works for someone else, it does not necessarily mean that it will work for you, but why not give it a shot and see if it is successful on your end rather than taking a chance? Regardless of the risk involved, businessmen and investors are willing to take a chance on their ideas because, if they are successful, they will reap substantial financial rewards from their efforts. The disadvantage is that you will be in debt if your venture is unsuccessful.

I agree on you that its better to try than not trying at all but I also agree on the guy above, it is not fun to stuck in debt. I think this is where the mistake of the op where he recommends everyone to take a loan in the bank, he sounds very greedy of earning huge money.

Why take a loan when when we already have a money to invest with? and even if we do not have the money right now, I still wont recommend loaning in a bank just to invest on something because investing is risky even though we are talking about metaverse. I prefer the basic way, working to have a money and invest that money, if metaverse is the future, your small money that you invested can turn huge .

[TheCoinGrabber]

The metaverse is interesting, even though I find it a bit dystopian (Zucc being creepy also isn't helping). Considering the company behind it I think it's a worthy investment but most people would probably give it a pass right now and find it too risky.

I suppose if you have a lot of money lying around you don't mind losing you can use it for that and if you were right they you'd be richly rewarded for being an early adopter (like with bitcoin). Taking loans though? I don't think so, that would be too risky, we don't have a proper timeline on when it'll take off.

If you must take a loan to make money, spend it on something else.

[milewilda]

The online loan trend makes it easy for anyone to get into debt, I think this is a serious problem because most people borrow just for fun and very little is used for investment, as long as we borrow online and use it for productive things, it's certainly better.

As it should be but we know that everyone does have their own mindset when it comes to things on where we do really end up on different choices and preference and when it comes to risk taking then its also different. Some might really love to play with fire but there are some who do want to play safe which is definitely considerable thing or a must to be done and not just taking actions without some having problems when it comes on repaying some debt.

[Smitty Werben Man Jensen]

Well, lands in Metaverse projects are expensive and knowing to buy property from projects that won't fail will be good when they are just starting. I won't advise anyone to borrow money and invest in cryptocurrency, although the odds always favour those who dare with the right project and with a huge patient.

Actually it goes back to each person if they are smart in managing it I think it will be profitable,
but indeed borrowing money and investing in crypto is a big risk so many people are also advised not to do that