Do not borrow money to invest in crypto

[Master107]

The market is volatile uptrend now downtrend later.
Too risky with respect to investment especially for beginners. Aside from reading, beginners wants to invest to earn money due to what good and easy thing they have heard from seniors earning money in cryptocurrency investment. They thought it is just easy as they think.

When the market is on progress to pump and you aren't sure if bullish will take place in the next days.
Don't borrow money to invest in cryptocurrency. It is not recommendable to borrow money from your friends to invest in volatile and soo risky place. Save yourself from dept and interest. Do not invest the amount of money you cannot afford to lose.
Ask yourself if you deserve to invest the money you borrowed and what if you will not succeed? Can you handle that and will not think to suicidal thoughts?

[dragononcrypto]

The market is volatile uptrend now downtrend later.

Too risky with respect to investment especially for beginners. Aside from reading, beginners wants to invest to earn money due to what good and easy thing they have heard from seniors earning money in cryptocurrency investment. They thought it is just easy as they think.

Agree, correction is coming. Either now or from higher levels. Not a time to be putting in your life savings imo.

When the market is on progress to pump and you aren't sure if bullish will take place in the next days.
Don't borrow money to invest in cryptocurrency. It is not recommendable to borrow money from your friends to invest in volatile and soo risky place. Save yourself from dept and interest. Do not invest the amount of money you cannot afford to lose.
Ask yourself if you deserve to invest the money you borrowed and what if you will not succeed? Can you handle that and will not think to suicidal thoughts?

So I agree, borrowing money at $19K, is not smart. I also know that getting loans at $10K and selling right now would have been an amazing idea. Personally, I was trying to get loans in summer for a quick 2x flip, so I don't believe it's always a bad idea.

If that market is greedy, it's never a good idea to risk more than you can afford to lose. But if you "know what you're doing" and quite sure about things, then getting loans and throwing them into encrypted currency isn't always the worst idea. It's how some have made the most money to be honest.

I also recently invested more than I could afford to lose (going from 95% in to 98.5% when price was around $10-11K). Best decision I ever made! This was also on the basis of selling the 3.5% when price broke $18K, as it's actually money I need 

[Master107]

I also know that getting loans at $10K and selling right now would have been an amazing idea. Personally, I was trying to get loans in summer for a quick 2x flip, so I don't believe it's always a bad idea.

Yeah, pro knows what is the best thing ahead when the market is on deep. Collect all the best coins as much as possible then hold. Maybe I, will loan also for anticipation. From $10k to $19.8k is good enough to win the market, so amazing success.

I also recently invested more than I could afford to lose (going from 95% in to 98.5% when price was around $10-11K). Best decision I ever made! This was also on the basis of selling the 3.5% when price broke $18K, as it's actually money I need 

So much risks , but you take the risks.
Set the target price for the win to win cases.
Wow!

You deserve it for staying long and base the movement of the market analytically, systematically, technically and not emotionally.

[dragononcrypto]

I also know that getting loans at $10K and selling right now would have been an amazing idea. Personally, I was trying to get loans in summer for a quick 2x flip, so I don't believe it's always a bad idea.

Yeah, pro knows what is the best thing ahead when the market is on deep. Collect all the best coins as much as possible then hold. Maybe I, will loan also for anticipation. From $10k to $19.8k is good enough to win the market, so amazing success.

Yeh not recommending any loans, that would be irresponsible, but I'm not going to deny that I hunt them down when prices look attractive. Cos it's a great idea when it works! I still remember in March getting a decent loan from a friend who "had faith in me" and put in $5K to sell at $10K, good times.

I also recently invested more than I could afford to lose (going from 95% in to 98.5% when price was around $10-11K). Best decision I ever made! This was also on the basis of selling the 3.5% when price broke $18K, as it's actually money I need 

So much risks , but you take the risks.
Set the target price for the win to win cases.
Wow!

You deserve it for staying long and base the movement of the market analytically, systematically, technically and not emotionally.

But really, putting this money I couldn't afford to lose in wasn't actually that high risk. Arguably the high risk was going from 60% to 95% in over the course of the past year. Going from 95% all in to 98.5% isn't that big of a deal, it was also as I wasn't accumulating over summer (dumb) so average price still quite low.

More than anything, it's best to look at things logically. Is going extra 3.5% in when you're already 95% in at a good price really a high risk? Not really.

Fiat money is for losers anyway 

[TomPluz]

Many people were lured in the past with the prospect of the possible continuing growth of cryptocurrency that they borrowed money from family and friends, only to be dismayed when the value of the cryptocurrencies they were investing with dived to the ground. Getting money from somewhere else is a bad idea, not unless one is excellent at managing risks, certainly not for newbies (just like me). This can be a popular formula to destroy a good relationship with each other when one can not any more pay back what is owed. Plus never proselyte your circle of family and friends so that they too will be investing with your favorite coin, just share any information but never be a salesman for any crypto digital asset.

[Master107]

I still remember in March getting a decent loan from a friend who "had faith in me" and put in $5K to sell at $10K, good times.

~skip

Crypto is not the only asset, friends too is the greater asset most of the time. Brothers are born for adversary, there are friends closer than the brother.

But really, putting this money I couldn't afford to lose in wasn't actually that high risk. Arguably the high risk was going from 60% to 95% in over the course of the past year. Going from 95% all in to 98.5% isn't that big of a deal, it was also as I wasn't accumulating over summer (dumb) so average price still quite low.

More than anything, it's best to look at things logically. Is going extra 3.5% in when you're already 95% in at a good price really a high risk? Not really.

To be honest, I'm not pro in investment. My opinion is base on my logical observation which applying that at the present. So, neither 70% to 73% is big deal for me. Every +1% counts.
Hahaha.
So 50% to 90% + 3% is heaven thinking to me. That's why I really highly respect the person who can do that
I'm also a beginner intently observing the flow with some relevant basis. Thanks for sharing some important aspect anyway.
Should give you +1 as appreciate for good ideas but need to wait 100 hrs

Fiat money is for losers anyway 

Not really.

[Master107]

Many people were lured in the past with the prospect of the possible continuing growth of cryptocurrency that they borrowed money from family and friends, only to be dismayed when the value of the cryptocurrencies they were investing with dived to the ground. Getting money from somewhere else is a bad idea, not unless one is excellent at managing risks, certainly not for newbies (just like me). This can be a popular formula to destroy a good relationship with each other when one can not any more pay back what is owed. Plus never proselyte your circle of family and friends so that they too will be investing with your favorite coin, just share any information but never be a salesman for any crypto digital asset.

Absolutely, mediator will be crucify once the investment dive to ground. People who trusted you in investment will not forgive you forever and ever. Hahaha
Borrowing money from family, friends, or from friends of friend is a bad idea not unless you are sure enough that there will be bullish soon.
It is also depends on what kind of friends you have. If they are your best friends at the same time crypto enthusiast. You have the same mindset, so to borrow money for investment isn't bad.

[babu10]

I think this is very correct because this market is very much volatile so there is guarentee that you will gain from this market. On the other hand there was time limit to paid of borrow money so if you lose or did not achieve your targeted money form this market, this borrow will be burden for you and sometimes will reason for life risk.

So one should not borrow money for crypto investment.

thanks.

[Andruha1993]

Personally, I have never borrowed money to buy cryptocurrency. Because I well understand that this is a big risk. Therefore, I make money in bounty companies and from there I invest in crypto from awards.

[Piku]

I think investing in cryptocurrency is risky. So I will never borrow to invest in cryptocurrency. Advising others to borrow is a sign of loss. So I don't think you should borrow to invest in cryptocurrency.

[Falcon]

In my opinion, To borrow is a bad habit in the wrong timing. But, I think not bad to borrow if you are in the right timing at the right place. In football the quarterback should pass the ball accurately to the receiver to progress one at a time. However, even the quarterback passed the ball accurately if the receiver is in the wrong position(place), the team will not progress. Timing at the right time is necessary. To borrow in the right time at the right price is not a problem.

[bigcash2011]

Some people just learn the hard way everytime, last time too many people took loans to invest in crypto and when the downtrend started they saw their profits and even original capital shrinking which gave them double rekt scenario. Only invest with extra available funds and never risk it all.

[trauchot]

I agree that the cryptocurrency market falls very often and the price of any cryptocurrency can fall very much, and therefore you should not take credits or borrow money from someone to invest in cryptocurrencies because you can lose everything and then where will you take the money to give back credit and money which you borrowed, so you only must invest your personal money and only money that you will not be afraid to lose.

[Ghozrd]

Good advice, but some people want quick profits and they will think that it is very easy to get profit investing in crypto.
If beginners want to profit from an ICO or IEO project, it looks like they already know the risks of investing in crypto. Nothing guarantees the project will be successful and if they go into debt to invest, then it is a very brave decision,considering the fluctuating price of each altcoin, it will be a risk that must be considered carefully.

[Pluto25]

I don't need any amount of money from any source to invest any projects. Because cryptocurrencies market always risky and market always unstable . If I borrow money from any cryptocurrencies fund , later I will face losses.then how can I pay my borrowing money.