Cryptocurrency good or bad for loan?

[Faisal2202]

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.

You are right, we should never loan funds to trade. Because the risk in trading itself is very high and profit is so uncertain with the addition of loans, it becomes more risky and pressuring. If a person trades with loan funds they might pull up to make enough profit that they could repay the debt and can save some funds even to start their journey in trading. But that's so rare till now I have not read any such successful story.

Besides a good story it's hard to pull this up. Plus if the loan is interest based then it will eat away your profits as well. So better to invest with less money and earn less profit than investing a lot of loan money into trading. Because less and self owned is better than more and not owned (loaned). If a newbie wants to pull this up then I also suggest to avoid at all cost.

[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.

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

I don't support or encourage the use of loan money to invest in crypto. But there might be some people who may have the intuition to invest in crypto despite that, due to what they have heard about the bull run giving many profits to investors who will be investing in bitcoin and some other top coins.

What kind of advice would you give to such a person who has made up their mind to invest in crypto with loan money, when they have the belief that in a year they'll get the loan money back, to pay off 

[Rubel007]

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.

Yes, as cryptocurrencies are more volatile, there is potential for good returns on investments in these currencies, as well as the possibility of losses. If we have our own money and can invest that money then no problems in managing our life, we should invest in this platform. But I never support cryptocurrency investment by lending or borrowing. Since there is no chance of making a guaranteed profit in investing, investing by borrowing or loan has a worse effect on an investor and the financial stress on the investor can have a major negative impact on our daily life.

[Mr. Magkaisa]

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?

     -     When you actually get a loan from the bank, it's actually difficult there because if you delay paying your due date to them, for sure they will charge you a lot of interest. But the only good thing about banks is that when you become a good payer and you pay them on time or you have a good history with them, they will definitely be willing to lend you money.

If you borrow, then you will use what you borrowed for crypto investment. You must be prepared for the consequences that you may face there.

[kulkhan]

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?

Cryptocurrency market is always unpredictable and uncertain. It is also to risky i think. Some times we saw market gose huge down and thats bare market continue 2-3 year's. So it is very risky investment even it were from loan it will very dangerous, Because we know if we take loan from Bank or others NGO. Because thats loan has huge interest.

So my advice Bank loan is very risky and it is bad. So we should avoin loan to invest on cryptocurrency.

[Dr.Bitcoin_Strange]

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

I don't support or encourage the use of loan money to invest in crypto. But there might be some people who may have the intuition to invest in crypto despite that, due to what they have heard about the bull run giving many profits to investors who will be investing in bitcoin and some other top coins.

I think it depends on the nature of the loan obtained, the terms of obtainment and also the repayment terms. And also it depends on the kind of coin you intend to purchase or invest in, although even if one eventually decides to go through with investing with loan money, one should always consider the volatility of the crypto market and also weigh the risks involved in crypto investment.
Again, it's advised never to invest what you cannot afford to lose, if the loan money is what you can afford to repay via other revenues, should incase the investment happens to crash or takes longer than anticipated before maturity, you won't get caught in the dilemma.

[jeraldskie11]

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

I don't support or encourage the use of loan money to invest in crypto. But there might be some people who may have the intuition to invest in crypto despite that, due to what they have heard about the bull run giving many profits to investors who will be investing in bitcoin and some other top coins.

I think it depends on the nature of the loan obtained, the terms of obtainment and also the repayment terms. And also it depends on the kind of coin you intend to purchase or invest in, although even if one eventually decides to go through with investing with loan money, one should always consider the volatility of the crypto market and also weigh the risks involved in crypto investment.
Again, it's advised never to invest what you cannot afford to lose, if the loan money is what you can afford to repay via other revenues, should incase the investment happens to crash or takes longer than anticipated before maturity, you won't get caught in the dilemma.

That is true. But if you are good at forecasting the market and you prove it many times that the price of a currency will go up high in this kind of market structure, then go. All types of investment has risks and we all know that cryptocurrency is volatile, and that volatility is the reason why people get rich instantly. So if you want to invest in a clever way, you should know that you only invested solely to Bitcoin.

[Dr.Bitcoin_Strange]

That is true. But if you are good at forecasting the market and you prove it many times that the price of a currency will go up high in this kind of market structure, then go. All types of investment has risks and we all know that cryptocurrency is volatile, and that volatility is the reason why people get rich instantly. So if you want to invest in a clever way, you should know that you only invested solely to Bitcoin.

That's true but it's still worth noting that, no matter how many times you've predicted the market correctly, it doesn't always mean that you can trust the predictions completely, it's always advisable to thread with caution at all time and always remember that the market can take a different turn from how you're currently seeing it at any time.

[milewilda]

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?

Taking up some loans or borrowing money for investing on crypto is never been that ideal or something which is recommended. You are really just that putting up  yourself on such huge risks
because we do know that this market isnt something that can be predicted on which you wont really be able to know on when it would really be making up those pumps and making out that profit for you to have and able to pay up that loan. If you do have that kind of bit higher focus when it comes to social life then it would really be that best that you should really be putting up that consideration on having that multiple income source on which it isnt really just that limited to crypto but also in other options as well as long it would really be available.

[Jamal Aezaz]

This is not a good idea to take loans from banks just for crypto use because you know better that crypto is volatile and here you will face difficulties to achieve your goals which also have no guarantee that you will earn with this loan amount.

If you lose in crypto then you will want to recover that money back and also will wish to repay your borrowed  money to the bank but unfortunately you will be unable to do any of these tasks.

Therefore don't put yourself in such a difficult situation in which you cannot perform any task and you lose everything for which you will regret throughout your life. Therefore continue your job and don't depend on crypto as sometimes it will give you profit but the profit is not for your whole life and you will face loss by making a small mistake.

[bounceback]

This is not a good idea to take loans from banks just for crypto use because you know better that crypto is volatile and here you will face difficulties to achieve your goals which also have no guarantee that you will earn with this loan amount.

If you lose in crypto then you will want to recover that money back and also will wish to repay your borrowed  money to the bank but unfortunately you will be unable to do any of these tasks.

Therefore don't put yourself in such a difficult situation in which you cannot perform any task and you lose everything for which you will regret throughout your life. Therefore continue your job and don't depend on crypto as sometimes it will give you profit but the profit is not for your whole life and you will face loss by making a small mistake.

Actually depend on market condition and choosing right investment assets for investing, I don't think bad when taking loan during market get drop and investing in bitcoin actually has bigger opportunity repayment loan back in the future. But have getting loan not monthly payment but yearly with bitcoin potential increasing more than 20% until 30% has chance recovery all payment loan.

But never put our self in difficult position by taking loan and use for investing in bitcoin, not promising will earn profit as our imagination and become long term holder not always make us earn profit, better use our free money for investing in bitcoin or looking loan with lower percentage of loan interest.

[UNIVERSE]

This is not a good idea to take loans from banks just for crypto use because you know better that crypto is volatile and here you will face difficulties to achieve your goals which also have no guarantee that you will earn with this loan amount.

If you lose in crypto then you will want to recover that money back and also will wish to repay your borrowed  money to the bank but unfortunately you will be unable to do any of these tasks.

Agree. It is better to use safe funds for crypto investment. It is not recommended to use loan money from banks for crypto investment. Crypto prices are very volatile and unstable, we can't expect to take profits any time we want. If we invest carelessly, we may end up with losses and may be trapped in the loan. This should never happen in crypto investment, the loan money must never be used for crypto investment.

[yohananaomi]

This is not a good idea to take loans from banks just for crypto use because you know better that crypto is volatile and here you will face difficulties to achieve your goals which also have no guarantee that you will earn with this loan amount.

If you lose in crypto then you will want to recover that money back and also will wish to repay your borrowed  money to the bank but unfortunately you will be unable to do any of these tasks.

Agree. It is better to use safe funds for crypto investment. It is not recommended to use loan money from banks for crypto investment. Crypto prices are very volatile and unstable, we can't expect to take profits any time we want. If we invest carelessly, we may end up with losses and may be trapped in the loan. This should never happen in crypto investment, the loan money must never be used for crypto investment.

Ideally, as you said and of course, everyone really agrees if you have funds available to invest in, but not everyone has more funds to be able to invest in crypto. One solution is to borrow from a bank, assuming we are able to pay the installments due. This loan, I think, is something that is legitimate and very good.
Analyzing like now where prices are certain to increase, there is no harm in doing so. All investments are also the same, it is certain that there are also those who borrow from the bank but adjust it to your own situation in terms of returns.

[jeraldskie11]

That is true. But if you are good at forecasting the market and you prove it many times that the price of a currency will go up high in this kind of market structure, then go. All types of investment has risks and we all know that cryptocurrency is volatile, and that volatility is the reason why people get rich instantly. So if you want to invest in a clever way, you should know that you only invested solely to Bitcoin.

That's true but it's still worth noting that, no matter how many times you've predicted the market correctly, it doesn't always mean that you can trust the predictions completely, it's always advisable to thread with caution at all time and always remember that the market can take a different turn from how you're currently seeing it at any time.

That's why we should only invest what we can afford to lose, because if we go all in knowing that our analysis doesn't work 100% there is a high risk of losing your money. To prevent that to happen, we should diversify our money to different cryptocurrencies if we are going to invest, but if we want to trade in futures, we should only use a a tiny portion of our overall assets so that you can still make up if you lose your current trades.

[Gurujebs]

Agree. It is better to use safe funds for crypto investment. It is not recommended to use loan money from banks for crypto investment. Crypto prices are very volatile and unstable, we can't expect to take profits any time we want. If we invest carelessly, we may end up with losses and may be trapped in the loan. This should never happen in crypto investment, the loan money must never be used for crypto investment.

What some people doesn't know is that loan has a time frame which it must be paid back, if you don't pay back, you either face problem of forcing to pay back or you continue to accrued interest rate until you finally paid back. Now imagine paying back after 2 years when your return on crypto investment is not more than 300% of your the loan you borrowed, by the time you do the math's and subtract the interest rate of 2 years from your profit, you wouldn't have anything left from your investment. Loan is a very bad practise for investments.