Taking loan for investment can be life threatening

[Alphakilo]

Someone who want to invest in a business and he or she is not Financially stable, he may decide to take a loan which to me i think is a norml thing anyone else can think of but taking a loan to invest in bitcoin is not a welcome idea. Reason is because bitcoin investment is a long term investment and requires patient to hold for the long period.
In my own opinion and conclusion, taking loan to invest in crypto is a wrond thought.

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[martyns]

Someone who want to invest in a business and he or she is not Financially stable, he may decide to take a loan which to me i think is a norml thing anyone else can think of but taking a loan to invest in bitcoin is not a welcome idea. Reason is because bitcoin investment is a long term investment and requires patient to hold for the long period.
In my own opinion and conclusion, taking loan to invest in crypto is a wrond thought.

It is a two way thing,we can't just conclude its totally wrong,what if he takes the loan,and the Money brings profit for him,should we say it was bad for him to take the loan? everything in life involves risk,and if you are not ready to take risk,then you have a slim chance if survival as an individual.It is only those who are ready,and those who have determined that no matter what it takes them or cost them in life,they are definitely going to make it,it is those people that also go extra mile in working hard to ensure that they have a good and quality future.Life isn't a bed of roses,where we easlily get everything we want,it is full of turns and stones which are ready to make you talk at the end if the day.At the same time,I am not in support that loan for investmest is a good idea,but I'm also saying one can actually take it,and become successful as well.

[Litzki1990]

I hope things go well like they hope, but this is a very big concern for me, because if anything happens, he will be left alone to pay back the loan, this can be life threatening because he is old and the loan amount is a lot, or do you have any better idea about this? What would you have done if you are in my shoes?

It is better to avoid loans for investment. You may be encouraged by everyone while taking a loan but when the time comes to repay the loan you will not have those who encouraged you. You took a loan and invested everything went well but one time you will see that suddenly the person from whom you took the loan will apply pressure to you to repay his loan, what will you do if your investment is facing loss at that moment. Then you could not profit from the investment and you could repay your loan properly.

As long as you don't have enough money to invest, keep learning about investing, this education will help you a lot and when you have enough money to invest, use the education you have gained and invest where you will see success.

[SOKO-DEKE]

Taking a loan to invest in cryptocurrency is not advisable at first time because no certain assurance that this is what will happen in crypto industry.

 I will say your uncle have make  a mistake by trusting his friend about a business he doesn't know all about.i don't think your uncle may even have knowledge about cryptocurrency industry, if not he could have not just go ahead and pick a loan to invested cryptocurrency. As for me even it is someone's money that he/she can afford to lose, I will not abide by ideas of giving money to any friends to help to invest in crypto industry because it very hard nowadays to even trust even family members with money.the truth is that anything can happen and hardly human beings admit with others people mistakes.helping others to hold their cryptocurrency investment is what I will not like to do, the best can do is to help them with the knowledge.

[xSkylarx]

Someone who want to invest in a business and he or she is not Financially stable, he may decide to take a loan which to me i think is a norml thing anyone else can think of but taking a loan to invest in bitcoin is not a welcome idea. Reason is because bitcoin investment is a long term investment and requires patient to hold for the long period.
In my own opinion and conclusion, taking loan to invest in crypto is a wrond thought.

Thats taking a risk; those people who took out a loan for their business have a plan B, meaning if their business is not successful, they can still pay it off, or in the worst case scenario, they have collateral on it with which they can still pay it off. The problem right now is that if you take out a loan just to invest in bitcoin, you have no control over its price, meaning if the price drops, you have nothing to do with it, unlike in business where others will buy your business or investors will invest in you.

[Sanitough]

Taking a loan to invest in cryptocurrency is not advisable at first time because no certain assurance that this is what will happen in crypto industry.

 I will say your uncle have make  a mistake by trusting his friend about a business he doesn't know all about.i don't think your uncle may even have knowledge about cryptocurrency industry, if not he could have not just go ahead and pick a loan to invested cryptocurrency. As for me even it is someone's money that he/she can afford to lose, I will not abide by ideas of giving money to any friends to help to invest in crypto industry because it very hard nowadays to even trust even family members with money.the truth is that anything can happen and hardly human beings admit with others people mistakes.helping others to hold their cryptocurrency investment is what I will not like to do, the best can do is to help them with the knowledge.

Right. Investing into cryptocurrency from a loan certainly increases the level of risk. You could have lose a lot  in the end especially if you invest on those coins who have no potentials to succeed. The reason why we should  only invest a small amount from our hard-earned money, and not from taking a loan. And for OP’s uncle, his way of trusting his friend has gone too far. In the end, he’ll be the one to suffer the consequences of his action. And most likely, even if his friend make some profits, I don’t think the amount of money from your OP’s uncle will still be return.

[Mahanton]

Taking a loan to invest in cryptocurrency is not advisable at first time because no certain assurance that this is what will happen in crypto industry.

 I will say your uncle have make  a mistake by trusting his friend about a business he doesn't know all about.i don't think your uncle may even have knowledge about cryptocurrency industry, if not he could have not just go ahead and pick a loan to invested cryptocurrency. As for me even it is someone's money that he/she can afford to lose, I will not abide by ideas of giving money to any friends to help to invest in crypto industry because it very hard nowadays to even trust even family members with money.the truth is that anything can happen and hardly human beings admit with others people mistakes.helping others to hold their cryptocurrency investment is what I will not like to do, the best can do is to help them with the knowledge.

Right. Investing into cryptocurrency from a loan certainly increases the level of risk. You could have lose a lot  in the end especially if you invest on those coins who have no potentials to succeed. The reason why we should  only invest a small amount from our hard-earned money, and not from taking a loan. And for OP’s uncle, his way of trusting his friend has gone too far. In the end, he’ll be the one to suffer the consequences of his action. And most likely, even if his friend make some profits, I don’t think the amount of money from your OP’s uncle will still be return.

Its never been recommendable on doing such act or thing on where you are really putting yourself into huge trouble specially if you do rely with your crypto profits then you would really be putting  yourself at risks.
We know that this market doesnt assure on where it would be making up some movements which means that what if it wont really be making profits on the time you would be needing to pay up your loan?
Pretty sure you would be fucked up and something that you would really be putting yourself into great trouble, unless if you do have other income sources on which you could really make yourself
sustain despite of the market condition or whatever it would be.This is the importance on minding on what are your capacity when it comes to funding sustenance.

[NicNacCoin]

It was an uncle of mine who took a loan on his name and sent it to a childhood friend living in America, he knew I was a crypto enthusiast and he never asked me to help him. I asked him why he took the loan for this, and he replied that the person is reliable, and his friend is a crypto trader, but he doesn't even know how crypto works.

I find out that his friend is focusing on meme coins only, he invested in crypto projects on pink sale, and the names are the type that you will laugh at when you hear them, I later told my uncle to keep praying that things go his way, he still believes that his friend is better than me and I am not trying to prove that I am better.

I hope things go well like they hope, but this is a very big concern for me, because if anything happens, he will be left alone to pay back the loan, this can be life threatening because he is old and the loan amount is a lot, or do you have any better idea about this? What would you have done if you are in my shoes?

Investing in cryptocurrencies with debt is one of the riskiest decisions in my opinion. No matter how many trusted coins you invest in cryptocurrency, once you lose it, you're out of debt. And here your uncle trusted his friend here even though your uncle is wrong but his friend is the most wrong. His friend has betrayed him. Your uncle should have consulted you since you were experienced in cryptocurrency here. I pray that your uncle does not lose. If he falls into loss, he has no speed but death in old age.

[EdenHazard]

Someone who want to invest in a business and he or she is not Financially stable, he may decide to take a loan which to me i think is a norml thing anyone else can think of but taking a loan to invest in bitcoin is not a welcome idea. Reason is because bitcoin investment is a long term investment and requires patient to hold for the long period.
In my own opinion and conclusion, taking loan to invest in crypto is a wrond thought.

Thats taking a risk; those people who took out a loan for their business have a plan B, meaning if their business is not successful, they can still pay it off, or in the worst case scenario, they have collateral on it with which they can still pay it off. The problem right now is that if you take out a loan just to invest in bitcoin, you have no control over its price, meaning if the price drops, you have nothing to do with it, unlike in business where others will buy your business or investors will invest in you.

That's a better case, but you know what ... most people that doing this are highly possible speculating, they are lured by how successful other people , thinking that he can do it as well while he never know the darkside of all of these investment thing.

Mostly clueless on what they are doing and as fir the result they get busted and confused.

[LUCKMCFLY]

Someone who want to invest in a business and he or she is not Financially stable, he may decide to take a loan which to me i think is a norml thing anyone else can think of but taking a loan to invest in bitcoin is not a welcome idea. Reason is because bitcoin investment is a long term investment and requires patient to hold for the long period.
In my own opinion and conclusion, taking loan to invest in crypto is a wrond thought.

Thats taking a risk; those people who took out a loan for their business have a plan B, meaning if their business is not successful, they can still pay it off, or in the worst case scenario, they have collateral on it with which they can still pay it off. The problem right now is that if you take out a loan just to invest in bitcoin, you have no control over its price, meaning if the price drops, you have nothing to do with it, unlike in business where others will buy your business or investors will invest in you.

That's a better case, but you know what ... most people that doing this are highly possible speculating, they are lured by how successful other people , thinking that he can do it as well while he never know the darkside of all of these investment thing.

Mostly clueless on what they are doing and as fir the result they get busted and confused.

In Colombia there is a type of loan, and it is drop by drop, where every day you give the interest, and those who do not pay are sought out by people who have training in hostile treatment to intimidate them until they pay, and thus, that type of It is not good to take loans, less for crypto and you that depend on crypto to do it, however, a loan with payment facilities and with a good deal, it is very possible that good things will happen and a happy term will be reached, but that already depends Whatever the person, then I don't know if they have this type of loan in other countries.

[NotHatinJustTrollin]

It was an uncle of mine who took a loan on his name and sent it to a childhood friend living in America, he knew I was a crypto enthusiast and he never asked me to help him. I asked him why he took the loan for this, and he replied that the person is reliable, and his friend is a crypto trader, but he doesn't even know how crypto works.

I find out that his friend is focusing on meme coins only, he invested in crypto projects on pink sale, and the names are the type that you will laugh at when you hear them, I later told my uncle to keep praying that things go his way, he still believes that his friend is better than me and I am not trying to prove that I am better.

I hope things go well like they hope, but this is a very big concern for me, because if anything happens, he will be left alone to pay back the loan, this can be life threatening because he is old and the loan amount is a lot, or do you have any better idea about this? What would you have done if you are in my shoes?

I completely understand your concern about the situation with your uncle and his friend. It's always risky to invest in any asset, including cryptocurrencies, and it's especially concerning that your uncle took out a loan to invest in a market he doesn't understand.

If I were in your shoes, I would try to advise your uncle on the risk of investing in cryptocurrencies, especially meme coins and other projects that do not have a solid track record or strong fundamentals. I would recommend that he seek unbiased advice from a financial planner or advisor before investing any more money.

[xSkylarx]

Someone who want to invest in a business and he or she is not Financially stable, he may decide to take a loan which to me i think is a norml thing anyone else can think of but taking a loan to invest in bitcoin is not a welcome idea. Reason is because bitcoin investment is a long term investment and requires patient to hold for the long period.
In my own opinion and conclusion, taking loan to invest in crypto is a wrond thought.

Thats taking a risk; those people who took out a loan for their business have a plan B, meaning if their business is not successful, they can still pay it off, or in the worst case scenario, they have collateral on it with which they can still pay it off. The problem right now is that if you take out a loan just to invest in bitcoin, you have no control over its price, meaning if the price drops, you have nothing to do with it, unlike in business where others will buy your business or investors will invest in you.

That's a better case, but you know what ... most people that doing this are highly possible speculating, they are lured by how successful other people , thinking that he can do it as well while he never know the darkside of all of these investment thing.

Mostly clueless on what they are doing and as fir the result they get busted and confused.

But not all. There are people that get influenced by what they've seen, like those they follow on social media. It doesn't mean that the person you follow has a lot of followers and is very influential. If then give you financial advice, you will then follow them, thinking that you will make a profit on it. I remember before, a lot of influential people promoted some coins, and a lot of people bought them, but it turned out later on that the price was dump, and those investors haven't recovered.

[YOSHIE]

or do you have any better idea about this?

Investing in the crypto world and in the real world are two different things, that's the point.
Investing in the internet world, the risk is greater than investing in real things like gold etc.
For most people who invest in the crypto market, they start small first, for example: in a day, week or month invest according to their income to set aside money for investment, without loans.

Borrowing, it's the same anywhere, especially at the bank, you have to think about interest every month, coupled with the large bank interest, it makes anyone add a burden on their shoulders, for me, invest little by little according to the income you have.

Investing is encouraged, but forcing yourself into loans is discouraged.

[Mauser]

or do you have any better idea about this?

Investing in the crypto world and in the real world are two different things, that's the point.
Investing in the internet world, the risk is greater than investing in real things like gold etc.
For most people who invest in the crypto market, they start small first, for example: in a day, week or month invest according to their income to set aside money for investment, without loans.

Borrowing, it's the same anywhere, especially at the bank, you have to think about interest every month, coupled with the large bank interest, it makes anyone add a burden on their shoulders, for me, invest little by little according to the income you have.

Investing is encouraged, but forcing yourself into loans is discouraged.

That's exactly the point, people should invest their money responsible and within their means. The risk of using borrowed money and trade above our means is too big compared to the limited upside we get. Borrowing money means we are bound to fixed interest payments to not default on our debt. Investing is usually the exact opposite of making a fixed repayment schedule. There is a lot of randomness in financial markets that can lead to unforseen losses or winnings. When having a profitable trading strategy there is. I need to increase the risk with leverage, we can just run our strategy for a longer period of time to make enough returns.