Cryptocurrency good or bad for loan?

[bayu7adi]

Applying for a loan for cryptocurrency trading is wrong. We can't always push our luck over big risks, if we don't make a profit when trading, then we will be destroyed by loans. Wise people will not use borrowed money for trading, because it can be the biggest trap that makes someone worse off.

It's a good idea to restrain yourself and never borrow money to trade cryptocurrency, everyone is worried about the risks and dangers of failing in trading... the collateral guaranteed by the bank will be lost because it's very likely that you won't be able to pay the installment bills.

[bhadz]

If you're in the real world, people will call that as a good debt because you're investing to something that can potentially give you more money or return. But to be honest, investing to crypto with the use of loaned money is not an ideal investing strategy. Don't mess up with this because you're going to suffer when you didn't get the return that you're expecting and you have to pay the interest that has been agreed upon to the lender. If you want to invest to crypto, use spare money or savings that you can afford you to lose.

[LogitechMouse]

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.

I'm one of the few people who have the balls to take a loan from a bank and used it to buy cryptocurrencies.

I did it in 2023. I took a loan from a bank and invested those money to buy Bitcoin. Now I paid that loan of mine already, and at the same time, I'm already doubled the initial loan amount. I got profits from using a loan from a bank.

Sometimes, it's all about the timing and of course knowledge. If you know that 2022-2023 is the accumulation phase and you expect for Bitcoin to increase in price a few years from that year then you will risk it, take a loan and pay it using your monthly source of income. I took the risk, and it paid me really well. I already said it at Bitcointalk and I will say it again here. Loaning from a bank to be used to buy crypto is very risky, but if you know when you're buying then you will end up getting profit. Just take note that you need to set aside a portion of your monthly income to pay that loan.

How much crypto is needed to manage social life and can it be the only dependent income source of your life?

It depends.

How much isn't the correct question but how sustainable it is because you can have 10 Bitcoins, but if you don't know how to use that 10 Bitcoins to increase it further then you will end up losing those. Those expert traders for sure are earning profits already, and they can sustain it for as long as they want to because they know what they're doing.

[Cantsay]

Applying for a loan for cryptocurrency trading is wrong.

I don’t know if the Op ever went ahead with his idea of borrowing loan to invest in crypto but he should be aware that it’s not something that’s advisable to do - and besides, it’s has been echoed more than a million times “invest what you can afford to lose” money gotten from a bank as a loan is not something that one can afford to lose and putting that money into crypto sounds pretty stupid to me (except you decide to go all in on bitcoin).

[Doovla]

You can manage your social life without a bank loan. Work for a while as your own safe, for example, or as part of a company, so save not the full amount of money for such small investments that in the long run can only make you the holder of a large profit and turn your story to just that side without the first job. I know many such users.

[KingsDen]

Investing in cryptocurrency with a money from the loan institutions or loan from private people all depends on the amount of risk that one is able to take. What I mean in essence is that, investing in cryptocurrency itself is a very big risk. Secondly taking a loan and its own is another type of risk. This is because even if you take a loan to start up a business there is no guarantee that it will go well in the end. So using your collateral to take a loan is a risk and using that loan to go into another risk of investing in volatile products is another risk. My advice is that if you are not knowledgeable enough on how to go about this, please avoid taking a loan to invest in cryptocurrency just for the sanity of your health. If things go wrong the consequence can be disastrous in the other way round if it goes fine well it is nice.

[JoyMarsha]

It's wrong for one to use loan money to invest in crypto. Using loan money to invest in crypto, totally means that one knows the future of crypto they are investing into, which can't be possible

I believe that there will be people who are going to invest in crypto with loan money because of the upcoming bull run, but whoever does so, should first think about how much loan they are taking up and the time for the loan to elapse. If it is after 2 years, take up a payable loan and invest in bitcoin and sell off around 2025, but if the loan is within 2 years, it will not be wise to take up loan money to invest in crypto.

[yohananaomi]

It would not be wise to take loans from banks or borrow money from other sources to invest in cryptocurrency. Owing to the volatile and manipulative nature, there is no guarantee that you would make profits.In that case, you may face difficulty in repaying your loans. Only invest in crypto, if you have got spare funds that you can afford to lose.

If you have more funds, of course it will be better, but it does not rule out the possibility of borrowing from the bank for investment if we are able to pay the installments from the loan made. When you want to use a loan, you must also analyze carefully when to start making the best investment [for example: like now after the halving], because with good analysis it will certainly speed up how you can get profits to pay off debts.
Once again, the option of borrowing is not bad, but if you don't have the ability to pay the installments, it's better not to do it because it will create new burdens.

[bounceback]

I have ideas want to get loan on Binance because have assets but increasing price drastically after holding around one year ago, I think good option my holding as back up for getting loan in Binance but I don't know how much percent or loan interested one year. Its good moment after bitcoin decreasing today and wish my holding coins assets helpful as back up fund get loan in binance, I think with more productive with loan is not problem during get balance with loan interested.
Any one know about loan or debt in binance exchange, how much loan interested and payment way every month or every one year?

[AvatarSiri]

It's wrong for one to use loan money to invest in crypto. Using loan money to invest in crypto, totally means that one knows the future of crypto they are investing into, which can't be possible

I believe that there will be people who are going to invest in crypto with loan money because of the upcoming bull run, but whoever does so, should first think about how much loan they are taking up and the time for the loan to elapse. If it is after 2 years, take up a payable loan and invest in bitcoin and sell off around 2025, but if the loan is within 2 years, it will not be wise to take up loan money to invest in crypto.

I couldn't agreed more.. in crypto, invest in what you can loose..not using loans

[Mr. Magkaisa]

      -     Of course, the active communities in this forum know that their cryptocurrency is good, although everyone here also knows that there are other crypto's that are just hype but also have a lot of potential that can give us a good profit in future savings that we crypto fanatics hope for.

But for the common people who are outside the crypto space, like the communities on Facebook, crypto is mostly bad for them, and even for other social media platforms as well.

[ajiz138]

It's wrong for one to use loan money to invest in crypto. Using loan money to invest in crypto, totally means that one knows the future of crypto they are investing into, which can't be possible

I believe that there will be people who are going to invest in crypto with loan money because of the upcoming bull run, but whoever does so, should first think about how much loan they are taking up and the time for the loan to elapse. If it is after 2 years, take up a payable loan and invest in bitcoin and sell off around 2025, but if the loan is within 2 years, it will not be wise to take up loan money to invest in crypto.

Before we take out a loan, we must consider it carefully, so that our loan does not make things difficult for us in the end. It's not easy to predict what will happen, but at least we can have a plan or picture for the future.

Taking out a loan is easy, but considering it is not as easy as we imagine, therefore we must be prepared for what will happen in the future. Don't let the loan become a problem for us.

[Sim_card]

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.  Although I follow some bloggers on social networks and I can confidently say that they make very good money from this and do not work at all, their main income is cryptocurrency.  So it depends from which side you look at it.

Some of those bloggers that claim to live life fully dependent of cryptocurrency are liars. Most of them don't even know how to trade but they claim to be good traders. They make their money from different sources and not from crypto. They make money from their ads and from viewers and followers. No one can live completely on cryptocurrency as a means of income, it should be a part time thing.

[MUGNIA]

Applying for a loan for cryptocurrency trading is wrong.

I don’t know if the Op ever went ahead with his idea of borrowing loan to invest in crypto but he should be aware that it’s not something that’s advisable to do - and besides, it’s has been echoed more than a million times “invest what you can afford to lose” money gotten from a bank as a loan is not something that one can afford to lose and putting that money into crypto sounds pretty stupid to me (except you decide to go all in on bitcoin).

No, even if it's Bitcoin, it's not recommended to apply for a loan to invest in Bitcoin, because as we know, Bitcoin is very volatile in its rise and fall, we're afraid we'll guess wrongly in predicting when we'll release it because it's too late to move, so we'll ZONK without getting anything.

[Vx1]

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?

Borrowing money for investment or whatever to invest in Cryptocurrency is not recommended, because we know that the price of cryptocurrencies is very volatile so it is very dangerous. If we choose the wrong coin and the price of the coin suddenly dumps badly and does not increase in price for a long time then this will be a big problem. 
Therefore, we often get advice when we want to invest in Cryptocurrency to use cold money, so that we can be more calm when carrying out activities in cryptocurrencies.