Cryptocurrency good or bad for loan?

[vegasus]

I really can't understand the thoughts of people who so easily want to apply for loans just to invest in Bitcoin or cryptocurrency in general. Maybe that's what's on their minds because they dream of very high profits from this investment quickly. while they may not think about the risks they might face. This is what makes the image of Bitcoin and crypto in general bad among the general public. because there are so many people who don't understand crypto and then force themselves to invest in crypto which then makes themselves miserable.

[MUGNIA]

taking out a loan to invest in crypto is not a good thing, it will make things difficult for us later, why do I say that!
because investing in crypto cannot be guaranteed that we will get a profit on the same day and at the same time, where if we borrow funds from a bank or the like it will definitely have a maturity date, while the ups and downs of the value of crypto are uncertain, it will backfire on our own finances, investing in crypto is true promising but if we use our free money, not loan funds or emergency funds for our needs,
So the conclusion is that taking out a loan for investment crypto is not recommended

[Doovla]

When you are in contact with experienced users, it is easy to make a deal, whether it is your sending first or theirs, it is important to establish a connection and trust, which can lead to a big change in the financial condition of crypto wallets as well as possible financial freedom. An option for that is Telegram.

[Jating]

taking out a loan to invest in crypto is not a good thing, it will make things difficult for us later, why do I say that!

I think taking a loan is bad in the beginning, whether you are going to used it for crypto or any other investment or business. Well there are school of thoughts who preach that it is better to do that because you are not going to issue any money. But still though the risk is very high for your side.

because investing in crypto cannot be guaranteed that we will get a profit on the same day and at the same time, where if we borrow funds from a bank or the like it will definitely have a maturity date, while the ups and downs of the value of crypto are uncertain, it will backfire on our own finances, investing in crypto is true promising but if we use our free money, not loan funds or emergency funds for our needs,
So the conclusion is that taking out a loan for investment crypto is not recommended

That's what we call risk, and so with a borrowed money, there is no mitigation factor. Meaning you really have to make a way to make money because you need to pay it. So the question, what if you don't? that the risk you take didn't pan out? So how do you pay that money now? Making another loan? that is bad strategy in my opinion.

[DaNNy001]

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?

For me I think the only cryptocurrency that's worth buying or taking loan to invest is probably Bitcoin and even that should be calculated before ever trying it and when I mean calculation, I mean if ever there is intensions to take loan and invest, it should be done at the discreet of knowing that the bear market is available and should be at the last year of the bear circle so that something tangible can be gotten out when the bull season kicks in with the investment.

[Gyrgen]

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?

For me I think the only cryptocurrency that's worth buying or taking loan to invest is probably Bitcoin and even that should be calculated before ever trying it and when I mean calculation, I mean if ever there is intensions to take loan and invest, it should be done at the discreet of knowing that the bear market is available and should be at the last year of the bear circle so that something tangible can be gotten out when the bull season kicks in with the investment.

I wonder if you yourself would take out a loan now to invest in Bitcoin?I suspect not. In general, for me personally, the idea of taking a loan against intangible assets is incomprehensible. I suspect that those who take out this kind of loans have heard enough tales with a beard about getting rich. But few people tell how they went broke when they took out loans against crypto, because the stories of losers are not motivating.

[LUCKMCFLY]

Well, just as there are people who request loans to play in a casino, I don't see it as crazy to ask for a loan to be able to buy bitcoin, it is for an investment, what happens is that some people see this as wrong, because they know that bitcoin can go down much more expensive, but that is why you always have to consider that before lending you have to make the terms clear, lend in USDT because if you lend in Bitcoin and Bitcon, suppose it goes to $100k, then it becomes complicated to pay in satoshis, and clearly taking a loan to buy bitcoin is up to the person's decision and if they do so they know that they should not fail in their payments, what they always have to do is pay on time so that there is no type of problem, for That's why this is so delicate, a loan should generally be taken out when there is an emergency or something similar.

[KingsDen]

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 do not encourage getting a loan to invest in cryptocurrency as this defiles the basic rule of cryptocurrency investment which is; investing what you are able to lose. However, with a very good timing, borrowing to invest can be good. If you can get a loan without collateral and repayment pressure, it's worth giving it a trial. Again, if you have a very good timing of the market, just like as bull run is approaching, it is nice only if you can get a long term loan. If some people invests their life savings or even pension, taking lain shouldn't be a big deal then.

[bounceback]

I think good or bad impact investing in cryptocurrency by using loan fund depend on current market condition, if take loan right now and investing in bitcoin I think very not worth yet because bitcoin have raise much higher price. Actually take loan for investing in bitcoin is the same meaning when you use fund for building an business by taking loan in the bank, during loan interest not really big still not problem yet and its very good for your investing.
Just reminder never taking loan for investing in bitcoin if price still pump, better wait awhile and waiting market get correction for using loan to invest in bitcoin or some top altcoin.

[bitterguy28]

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?

actually this is not aboutyour complete source of income , instead the amount that you can manage to risk and lose , because this market is volatile and things are changing any time .
it can be profitable today but tomorrow you may lose better invest only how much you can spend without damaging your budget for daily living.

[robelneo]

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 never recommend to take a loan just to invest in Cryptocurrency, the volatility and uncertainty of the market will make you lose money, loans are good for business expansions but when you take it on Cryptocurrency it will give you headache.

Which is why experts always advice investors to only invest what they can afford to lose, its very tempting to take a loan to invest in Cryptocurrency but you have to be a good trader, to make profir from loans.

[bettercrypto]

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?

There is nothing wrong with borrowing, as long as you have the resources to pay back the money you borrow from the bank. Especially if you are going to use it in business, you know you can turn it around correctly to make a profit that you can use to pay off the loan with interest.

But if you're worried about paying what you owe, it's better not to borrow; instead, just find another way that you can have a profit that you don't need to borrow, especially if it's used in your cryptocurrency because the market is too volatile.

[SmartGold01]

At first taking loan to make investment is not encouragable for anyone irrespective of whom you are and where you are from and couples with the volatility of cryptocurrency, one could lose entire investment after haven taken loan from bank to invest in cryptocurrency. There were similar cases where they took their tuition fees to invest in cryptocurrency during the last bull run and it bounces back on them and I think there off from school due to their singular action of taking their tuition fees to go do investment and their lost was massive to an extent they weren't able to recover their invested capitals.

[yohananaomi]

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?

There is nothing wrong with borrowing, as long as you have the resources to pay back the money you borrow from the bank. Especially if you are going to use it in business, you know you can turn it around correctly to make a profit that you can use to pay off the loan with interest.

But if you're worried about paying what you owe, it's better not to borrow; instead, just find another way that you can have a profit that you don't need to borrow, especially if it's used in your cryptocurrency because the market is too volatile.

The matter of borrowing and borrowing in business is something that usually happens because it can ensure that you pay when a loss occurs. Likewise, in crypto, if there is confidence in being able to repay, then there is no need to be afraid to borrow, but it must be done with accurate and convincing analysis.
If you don't have good analysis, of course, I agree you can use other methods that don't require borrowing to invest in crypto.

[emmybd]

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.