Cryptocurrency good or bad for loan?

[therozaq]

Cryptocurrency is not permanent, and I don’t think it’s possible to live only on it.  But it’s very suitable as an additional form of income or hobby. 

That's true, crypto currency isn't fix income, because crypto currency is unpredictable.
We can gain big profit, but it's every 4 years.
Maybe we can do  daily trading to have income although small profit.
Crypto is still profitable for investment, but we should have other businesses in our real life.
When I have free time I'll do daily trading.

[yohananaomi]

Do not borrow to invest . I repeat: Do not borrow to invest .
Due to the volatility and manipulative nature of the crypto market, borrowing to invest is clearly a misguided idea that should be halted. Although investment outcomes can vary, taking such risks is not advisable. It's better to invest with the little funds you have, and also make profit without exposing yourself to a situation where you can't hold anyone accountable for potential losses.

It's absolutely true, don't borrow capital from the bank because it will increase your bills and borrowing capital from the bank will definitely have interest. It's best if you want to start investing, start with the capital you have, even if it's small, it's okay, don't borrow capital from the bank, it's not good. In my opinion, investing doesn't require a lot of capital, with a little capital you can also invest by saving long-term altcoins.

If you can avoid all forms of loans, that is something that should be appreciated. It is the right thing to do. Remember that borrowing will have consequences that must be fulfilled, namely an obligation to be able to pay it back. It is possible that this will not be easy to do and must be done on time according to the agreement made.
 
But borrowing also cannot be blamed if there are no other alternatives that can be done, as you say.as long as the intention to borrow is carefully calculated with calculations that can be profitable and can be accounted for as well as possible. We know that borrowing to increase capital in the form of additional investment is a normal and reasonable thing to do for almost all entrepreneurs, as long as it is calculated carefully and on target.
 
I think that if the investment is clear and profitable, then you can be sure there will be the ability to pay off the loan that has been made. Remember, if you don't have the courage to do the right calculations, you might not get that opportunity again.

[gunhell16]

Cryptocurrency is not permanent, and I don’t think it’s possible to live only on it.  But it’s very suitable as an additional form of income or hobby. 

That's true, crypto currency isn't fix income, because crypto currency is unpredictable.
We can gain big profit, but it's every 4 years.
Maybe we can do  daily trading to have income although small profit.
Crypto is still profitable for investment, but we should have other businesses in our real life.
When I have free time I'll do daily trading.

There is no cryptocurrency that has a fixed price in the trading market, and there is also no fixed income here, and it depends on each individual how they will carry out their daily activities through trading.

You can only get a fixed income in crypto trading if you have a broad understanding and idea of trading in this field of the crypto space. Through day trading, that's the only daily earnings we can get. Cryptocurrency is profitable as long as you know the right procedures in this field of the crypto space.

[examplens]

Some rules from the FIAT world can also be applied in crypto. For example, a loan is always taken out in the currency in which you receive your earnings and salary. So, for example, if your salary is in dollars, then the loan you plan to take should also be in dollars. If your salary is in Litecoin regardless of its value, then the loan should be in Litecoin
The same thing is true with any other currency, regardless of whether it is Indian Rupee or Bitcoin. Thus, the potential risks of a sudden jump in the value of some cryptocurrencies are significantly reduced.

[Fenix]

It is absolutely stupid to take out a loan to invest in cryptocurrency. There is a double risk here: the risk that the cryptocurrency will fall in price during the loan period and, in addition to losses from investing in cryptocurrency, you will also have to pay additional interest on the loan plus the loan amount itself.
In general, I try to never take out loans. After all, you can almost never be sure that the invested funds will bring more profit than will need to be repaid on this loan. When working with cryptocurrencies, you must rely only on your personal funds if you do not want to have financial problems.

[trendcoin]

While investing in crypto, many people take loans from banks, but later they have to face difficulties in repaying the loans if there is a loss. How much crypto is needed to manage social life and can it be the only dependent income source of your life?

I don't think it makes sense to invest in cryptocurrencies using credit. The cryptocurrency market is highly volatile. If things don't go the way you hoped, the interest on the loan can put pressure and stress on you and therefore cause you to make bad decisions.  In fact, investing is risky in itself, but when it comes to cryptocurrencies, the risk is higher. I would not invest in cryptocurrencies using a loan. I think we have to keep a good eye on our finances and know our limits and make rational decisions.

[Gurujebs]

I don't think it makes sense to invest in cryptocurrencies using credit. The cryptocurrency market is highly volatile. If things don't go the way you hoped, the interest on the loan can put pressure and stress on you and therefore cause you to make bad decisions.  In fact, investing is risky in itself, but when it comes to cryptocurrencies, the risk is higher. I would not invest in cryptocurrencies using a loan. I think we have to keep a good eye on our finances and know our limits and make rational decisions.

You can't have access to loan or credit card without having a steady source of income. The banks knows and understand how this works. You must have been a salary earner before they even credit your credit card. If really you are a worker and you have access to credit card and you have the intention of buying bitcoin with it, I see no reason why you shouldn't do it because you have the means to get money and you can't pay back.

The due diligence I will love you to do is to invest in what you can afford to lose because bitcoin is volatile and the way it has the potential to give you profit is the same way it can give you losses. So it's better you do your own research, check the background of the project you are trying to invest, and buy either with DCA or buy when the price is low and don't forget to diversify your portfolio to further reduce risk.

[taufik123]

You can't have access to loan or credit card without having a steady source of income. The banks knows and understand how this works. You must have been a salary earner before they even credit your credit card. If really you are a worker and you have access to credit card and you have the intention of buying bitcoin with it, I see no reason why you shouldn't do it because you have the means to get money and you can't pay back.

The source of income remains the main reference for why someone dares to take a loan to buy Bitcoin. Even though they already know, the risk of buying Bitcoin with borrowed money will be higher risk, because the loan repayment will be charged with interest every month.

There is no good advice if a loan person does not have good trading skills, even just tends to buy because of enough hype with the opportunity to buy bitcoin at a low price before ATH is reached.

The due diligence I will love you to do is to invest in what you can afford to lose because bitcoin is volatile and the way it has the potential to give you profit is the same way it can give you losses. So it's better you do your own research, check the background of the project you are trying to invest, and buy either with DCA or buy when the price is low and don't forget to diversify your portfolio to further reduce risk.

Do your own research and also consider what to do when making a loan, have a refund obligation with interest and this should be thought out.

I wouldn't advise anyone to start trading with a loan because I myself started all this with free money which means the money I use comes from a lot of campaigns and airdrops, not borrowed money which is very risky.

[Aanuoluwatofunmi]

While investing in crypto, many people take loans from banks, but later they have to face difficulties in repaying the loans if there is a loss. How much crypto is needed to manage social life and can it be the only dependent income source of your life?

In cryptocurrency, I think one of the things we have learnt is never to engage on taking loans to invest on what is volatile and take the risk on ourselves no matter what, so we should first know this that it's never a good practice to take loan and invest, secondly, if we are looking of a certain amount of cryptocurrencies we can hold or possess to make us free in life, then the best way I could recommend is to look for a means or source in which we could earn Bitcoin or any other crypto from to be sustainable by that and also invest from the income we made.

[Pandu Gleen]

In my opinion, this is not good, because cryptocurrencies are a platform intended for long-term investment.  But if it is very urgent, cryptocurrencies can be relied on in the best possible and relevant way.

[Callisto]

While investing in crypto, many people take loans from banks, but later they have to face difficulties in repaying the loans if there is a loss. How much crypto is needed to manage social life and can it be the only dependent income source of your life?

It is very bad in my opinion to invest in cryptocurrency using loans, because no one can say with 100% certainty that these investments will bring income by the time the loan is repaid, and indeed whether it will bring it at all. You can wait for your profit for months and sometimes years. The loan still needs to be repaid somehow.

[ariaryanto]

Borrowing money from the bank for capital is the wrong solution, because in the future it will create more burdens on us... just use the existing capital, if we only have a little capital, it's okay to buy altcoins that you really trust and Don't buy altcoins carelessly because it will make us lose money. So my advice is don't borrow money for capital from the bank..

[TopT3ns]

Borrowing money from the bank for capital is the wrong solution, because in the future it will create more burdens on us... just use the existing capital, if we only have a little capital, it's okay to buy altcoins that you really trust and Don't buy altcoins carelessly because it will make us lose money. So my advice is don't borrow money for capital from the bank..

Using money borrowed from the bank for certain purposes will indeed be very risky, but when it is used correctly and can make a lot of money, then it will be the right choice. Unfortunately,  not everyone can apply for this, so many people are in debt at the bank because of the loan. which doesn't produce anything, especially using it for trading in altcoins, which is very risky because no one can provide a guarantee of making a profit in altcoins.

[sampoerna]

Using money borrowed from the bank for certain purposes will indeed be very risky, but when it is used correctly and can make a lot of money, then it will be the right choice. Unfortunately,  not everyone can apply for this, so many people are in debt at the bank because of the loan. which doesn't produce anything, especially using it for trading in altcoins, which is very risky because no one can provide a guarantee of making a profit in altcoins.

Exactly it is very risky if we use borrowed money from the bank or any other party to invest or trade in cryptocurrency. because there is no guarantee that we will get profits that match our hopes and targets every month or at any time. whereas usually we have to pay the debt in installments or pay it usually every month plus bank interest. or We also have to pay within a certain time according to the amount of the debt plus the interest on the debt, which incidentally is usually not small. In fact, the bank itself is usually quite selective in choosing who will borrow the money. And if they know the money will be used for trading, they usually won't get approval from the bank. unless the customer falsifies the purpose of the loan. or if the customer borrows money from other parties or loan sharks whose bank interest is usually much higher than at regular banks. and of course this will be more risky.

[Geey]

Borrowing money from the bank for capital is the wrong solution, because in the future it will create more burdens on us... just use the existing capital, if we only have a little capital, it's okay to buy altcoins that you really trust and Don't buy altcoins carelessly because it will make us lose money. So my advice is don't borrow money for capital from the bank..

That's right, it's not good to borrow money for capital from the bank just to invest in crypto, it will make someone dizzy and borrowing money from the bank will definitely have an interest rate... it's better if we want to invest in crypto. My advice is to just use whatever money you have, you don't need more money. Borrow money from the bank... if you have extra money that's also good, but your own money is not money borrowed from the bank.