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Author Topic: Do not borrow money to invest in crypto  (Read 12402 times)

Offline Churphans

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Re: Do not borrow money to invest in crypto
« Reply #180 on: March 13, 2021, 10:22:44 AM »
Never borrow money from a bank to buy cryptocurrency. Only free money that you are not afraid to lose. Let it be less, but without risk!
Yes bounty campaign rewards converted passive income without any risk but sometimes it also very hearts touching. I don't borrow or lending any sources because I am a hunter with lower budgets income. if I get loses then I can't pay borrow money.

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Re: Do not borrow money to invest in crypto
« Reply #180 on: March 13, 2021, 10:22:44 AM »

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Offline LaZim

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Re: Do not borrow money to invest in crypto
« Reply #181 on: March 13, 2021, 10:27:28 AM »
Never borrow money from a bank to buy cryptocurrency. Only free money that you are not afraid to lose. Let it be less, but without risk!
Yes bounty campaign rewards converted passive income without any risk but sometimes it also very hearts touching. I don't borrow or lending any sources because I am a hunter with lower budgets income. if I get loses then I can't pay borrow money.
Of course, borrowing money to invest in cryptocurrencies is a bad idea. But I think you need to try yourself in other areas, and not just hope for earnings from the bounty. There are many opportunities for earning money. You do not need to immediately sell the pennies that are earned. You can try to trade or participate in some village.

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Re: Do not borrow money to invest in crypto
« Reply #182 on: March 13, 2021, 11:46:45 AM »
Never borrow money from a bank to buy cryptocurrency. Only free money that you are not afraid to lose. Let it be less, but without risk!
Yes bounty campaign rewards converted passive income without any risk but sometimes it also very hearts touching. I don't borrow or lending any sources because I am a hunter with lower budgets income. if I get loses then I can't pay borrow money.
I agree with you, I normally wouldn't borrow money for crypto investment considering the volatility nature of it cos any thing can happen and money is lost and repaying back becomes a problem more than what i wanted to solve so like you, Id prefer continue to Bounty Hunt and make my small earnings from there or eventually invest some of those back into other crypto projects. 

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Re: Do not borrow money to invest in crypto
« Reply #183 on: March 13, 2021, 01:14:00 PM »
If you want to invest in crypto, it's better to use your own money, don't borrow. Because it's too risky. If I don't have the capital, I prefer to take part in bounty and airdrop projects. Because all of that does not require capital. By joining bounty and airdrop projects I can get free tokens to sell. And all of that becomes income for me.
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Re: Do not borrow money to invest in crypto
« Reply #184 on: March 13, 2021, 03:06:27 PM »
If you want to invest in crypto, it's better to use your own money, don't borrow. Because it's too risky. If I don't have the capital, I prefer to take part in bounty and airdrop projects. Because all of that does not require capital. By joining bounty and airdrop projects I can get free tokens to sell. And all of that becomes income for me.
Preferably it is better to invest in cryptocurrencies with the amount of money you can afford to lose rather than embarking on a borrowing spree in a investment that is highly risky and the price is too volatile recall in 2017 a lot of newbies borrowed money and invested in Bitcoin when it peaked however their hope was dashed when the price dumped consequently a lot of them sold at a loss and has to pay back debts.

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Re: Do not borrow money to invest in crypto
« Reply #185 on: March 13, 2021, 03:11:56 PM »
I agree, never borrow money to buy cryptocurrencies, as you can stay in debt for life, because the crypto market is very insidious and unstable

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Re: Do not borrow money to invest in crypto
« Reply #186 on: March 13, 2021, 05:50:00 PM »
I agree, never borrow money to buy cryptocurrencies, as you can stay in debt for life, because the crypto market is very insidious and unstable

Yes, you're right crypto is unstable and in predictable.So don't borrow money to invest in  crypto , It is too risky. If you don't have free money, you can join bounty or airdrop here. You will get tokens for your investment
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Re: Do not borrow money to invest in crypto
« Reply #186 on: March 13, 2021, 05:50:00 PM »


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Re: Do not borrow money to invest in crypto
« Reply #187 on: March 14, 2021, 10:31:59 PM »
Yes mate, never borrow money from others because cryptocurrencies trading and investment completely a risky systems. When you trading then it would possiblities to have losses. So how can you pay your borrowing money.?


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Re: Do not borrow money to invest in crypto
« Reply #189 on: March 15, 2021, 01:36:52 PM »
Investing is not an easy process. And in order to invest correctly, you need to have a lot of experience and capital, only from your mistakes you can learn how to invest correctly.
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Re: Do not borrow money to invest in crypto
« Reply #190 on: March 15, 2021, 02:04:26 PM »
It is better if in undertaking an investment, we cannot fully surrender our assets to just one type of investment. because this is very dangerous. you should not be greedy and remain reasonable in investing.
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Re: Do not borrow money to invest in crypto
« Reply #191 on: March 15, 2021, 02:36:03 PM »
And if I do not have the accumulated money, but I am very eager to invest, so I always borrow and repay the debt from the profit.

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Re: Do not borrow money to invest in crypto
« Reply #192 on: March 15, 2021, 02:46:10 PM »
Investing in crypto by borrowing money is not wrong in my opinion. But as long as we know that the coin we want to invest in has a good track record and a stable price, for example, like BCH. I think the BCH movement is quite stable.
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Re: Do not borrow money to invest in crypto
« Reply #193 on: March 15, 2021, 02:50:26 PM »
@Thymoty you are not wrong if the investment goes well and you have experience of several years, even expert trading users lose money, imagine what can happen to someone with 0 experience who asks for a loan from the bank to buy cryptocurrencies and trade.
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Re: Do not borrow money to invest in crypto
« Reply #194 on: March 15, 2021, 06:08:16 PM »
Almost everyone who is on this forum agrees that taking a loan to invest in cryptocurrencies is a bad idea. But it seems to me that those investors who resort to borrowed money are unlikely to read the forum and their knowledge of the crypto industry is very insignificant.

 

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