Cryptocurrency good or bad for loan?

[Makus]

I must say that ever business generally has some risk involved and as you know, business is a pool of risk. As there are fiat loans for businesses, I don't see it a bad idea getting a crypto, it depends on your loan purposes.
Getting a crypto loan for a crypto investment purposes may not be a good idea because the crypto market is very volatile except you can repay your loan the through other sources when the market goes bearish.
Getting a crypto loan for trading is good but, at least, you must be experienced in crypto trading to succeed.

If I should advise anyone in taking loans for cryptocurrency trading then my first question is, do you have a guaranteed source of income aside crypto that can be used to settle the loan payment should in case things go sideways? If the answer is no, then you are taking too much of risk and I'm not part of it. No matter how reputable the project is, sometimes you might be correct with your analysis at buying at the dip with loans and expect the bull to create an increase in your portfolio. But sometimes the market can be manipulated and  for it to recover to the normal trend it might take a while due to the weight of the manipulation, and that period must have added extra interest to your loan.

[Cryptsafe]

I must say that ever business generally has some risk involved and as you know, business is a pool of risk. As there are fiat loans for businesses, I don't see it a bad idea getting a crypto, it depends on your loan purposes.
Getting a crypto loan for a crypto investment purposes may not be a good idea because the crypto market is very volatile except you can repay your loan the through other sources when the market goes bearish.
Getting a crypto loan for trading is good but, at least, you must be experienced in crypto trading to succeed.

If I should advise anyone in taking loans for cryptocurrency trading then my first question is, do you have a guaranteed source of income aside crypto that can be used to settle the loan payment should in case things go sideways? If the answer is no, then you are taking too much of risk and I'm not part of it. No matter how reputable the project is, sometimes you might be correct with your analysis at buying at the dip with loans and expect the bull to create an increase in your portfolio. But sometimes the market can be manipulated and  for it to recover to the normal trend it might take a while due to the weight of the manipulation, and that period must have added extra interest to your loan.

I have read through your replies and I must say that all you have said is accurate. Taking crypto currency loan is very risky and as a matter of fact, it is highly volatile and not advisable to do so. This is why one is advised to trade with funds they could afford to lose because of the high volatile nature of crypto currency.

One should have a side job to support as a source of income because in some cases, one's expectations with regards to their Crypto investment might get stucked for a long time which already has been highlighted here and we all know that in some cases, it is difficult or would take some time for the market to pick up and the only remedy for such situation is a side job to pay back the loan. So you better think twice before going for such loan.

[Makus]

I have read through your replies and I must say that all you have said is accurate. Taking crypto currency loan is very risky and as a matter of fact, it is highly volatile and not advisable to do so. This is why one is advised to trade with funds they could afford to lose because of the high volatile nature of crypto currency.

One should have a side job to support as a source of income because in some cases, one's expectations with regards to their Crypto investment might get stucked for a long time which already has been highlighted here and we all know that in some cases, it is difficult or would take some time for the market to pick up and the only remedy for such situation is a side job to pay back the loan. So you better think twice before going for such loan.

It is very obvious that all crypto trading or holding is risky but there are some risk which are not worth taking into consideration and that include taking loan for crypto trading. One of the greatest risks in crypto is when you go full into a coin and should in case anything happens, provided that it's your money in which you have spent on the coin then, it can be handled by yourself, probably if it didn't go well, you'll have quite some emotional breakdown but then you can still get back up and make another Investment when you recover. But when talking about loans, sometimes the loaners aren't patient enough to your stories and all they need is your repayment, and that could make you sell of the remaining of what's left from the coin and that wouldn't be a nice experience at all. Like I said earlier, your analysis may be correct but impatience or fear of losing everything might make you to sell off everything.

[Jamal Aezaz]

     -     We know that it is not bad to borrow as long as we know how to return what we borrow. It just means that you are a responsible person to the person you trust to lend money to.

Because I'm honestly speaking, I tried to borrow money once, and the one who loaned me bought the top crypto in the market, and I held it long-term. After a few months passed, my capital for the crypto increased 7x, and I'm holding it now because, like others, I also have a price tag and I'm just waiting for it to sell.

People are always ready to take loans but they don't think about how to return that borrowed amount therefore if they unfortunately lose the borrowed amount then every way will be closed for them to make money to return the amount.

People often think about a way of returning money but after a loss they don't return money from that source but use that amount for investment and trading too due to which they also burnt that source which could help them to get rid of borrowed sum.

Everyone does find the way easier and profitable like you so it can also be possible that instead of making money they will put themselves in trouble after taking loan which they cannot return easily.

[Dr.Bitcoin_Strange]

     -     We know that it is not bad to borrow as long as we know how to return what we borrow. It just means that you are a responsible person to the person you trust to lend money to.

Because I'm honestly speaking, I tried to borrow money once, and the one who loaned me bought the top crypto in the market, and I held it long-term. After a few months passed, my capital for the crypto increased 7x, and I'm holding it now because, like others, I also have a price tag and I'm just waiting for it to sell.

People are always ready to take loans but they don't think about how to return that borrowed amount therefore if they unfortunately lose the borrowed amount then every way will be closed for them to make money to return the amount.

People often think about a way of returning money but after a loss they don't return money from that source but use that amount for investment and trading too due to which they also burnt that source which could help them to get rid of borrowed sum.

Everyone does find the way easier and profitable like you so it can also be possible that instead of making money they will put themselves in trouble after taking loan which they cannot return easily.

Any one without a source of income should not engage in cryptocurrency investment, I'm still surprise why some people will engage in cryptocurrency investment without having a source of income and will go and borrow in other to invest in crypto, any one who borrows just to invest in cryptocurrency really don't understand what cryptocurrency investment is and that is why I will always advise people to engage in studying about cryptocurrency before talking about investing.
A lot of people really don't understand what is cryptocurrency they only heard of it and felt is the best investment to go into and make a lot of money, some people sees cryptocurrency investment as ponzi scheme were you can just invest and start getting money quickly.

Anyone going into cryptocurrency investment without a source of income should not bother investing Because cryptocurrency investment involves patience, you need to have patience in other to make profit.
Taking loan so you can invest in cryptocurrency is a wrong and should not be encouraged.

[namaidani]

I will say that a loan or a credit is already bad, because you are creating a loop in which you can get caught. If one does not have funds, then a person looks for all available methods, because it is like an instinct for self-survival, and since it is a cryptocurrency, you can really lose everything. But if this loan is a way of earning and everything is calculated and you have sources of financing, that is, the risks are reduced, then it is only a business. And when someone who doesn't have money looks at someone like that and it seems to him that everything is easy. This is where failure can happen and you can lose everything.

[SmartGold01]

One can make cryptocurrency the only source of income if that person invested in some good coin such as bitcoin or any other altcoin that seems so reliable, maybe also doing some trading that he could be getting some profits from it at the end of the month or weeks depending on their interest and point of seriousness to concentrate and focused on their earnings.

There people who lost focused because they weren't stable and also have other things they could be doing in real life that makes them lose focused. If proper manager and discipline one could make heavy money from cryptocurrency and I think there is a thread that comprises of what one could do to start earning from cryptocurrency.

[Sim_card]

I must say that ever business generally has some risk involved and as you know, business is a pool of risk. As there are fiat loans for businesses, I don't see it a bad idea getting a crypto, it depends on your loan purposes.
Getting a crypto loan for a crypto investment purposes may not be a good idea because the crypto market is very volatile except you can repay your loan the through other sources when the market goes bearish.
Getting a crypto loan for trading is good but, at least, you must be experienced in crypto trading to succeed.

If I should advise anyone in taking loans for cryptocurrency trading then my first question is, do you have a guaranteed source of income aside crypto that can be used to settle the loan payment should in case things go sideways? If the answer is no, then you are taking too much of risk and I'm not part of it. No matter how reputable the project is, sometimes you might be correct with your analysis at buying at the dip with loans and expect the bull to create an increase in your portfolio. But sometimes the market can be manipulated and  for it to recover to the normal trend it might take a while due to the weight of the manipulation, and that period must have added extra interest to your loan.

Crypto is not a business and due to its volatile nature taking loans to buy crypto or trade because it is an unpredictable thing. Trading is like gambling and taking a loan to trade is double loss. You don't take a loan to invest in bitcoin because it is a long-term investment which should be done with one's extra funds and not even money for your important needs. I think taking loan to put in crypto without you having a means of paying back the loan is the same thing as gambling.

[$crypto$]

This is a double-edged sword for me because it has 2 sides which if we manage it wrongly it will cause quite big problems. It must be acknowledged that the risks are greater and we must be aware of that from the start before deciding to take out a loan.

If we only talk about profits, everyone will want to borrow because the profits are very tempting. Apart from not having to spend capital, we can also enjoy profits. but this is not easy to do, once again the risks are very big.

Yeah that's true if profits was to only be the case everybody would have actually gone into borrowing because of the possible profits they would realized, however just like you said the risk is too much because if somebody go into trading with borrowed money the chances of getting anything from there remains 40% chances, though we no that there are some people who borrowed money and made a lot of profits out of it but however what work for someone may not actually work the same for another person but is surprising to see that most people go into borrowing because they saw people who borrowed money and made a lot of profit.

I can't say for sure what percentage of our chances are to make a profit by using borrowed money, I can only say that it is very risky and can't say anything more specific.

We must be smart in making decisions, don't force ourselves just because we see the benefits that can be obtained because in fact behind that there is a big risk that we take. So once I will say think and consider carefully.

[Vx1]

I can't say for sure what percentage of our chances are to make a profit by using borrowed money, I can only say that it is very risky and can't say anything more specific.

We must be smart in making decisions, don't force ourselves just because we see the benefits that can be obtained because in fact behind that there is a big risk that we take. So once I will say think and consider carefully.

Borrowing money for crypto has a very high risk, we should not do it. Because our predictions in trading or investment are not necessarily always right, if we make wrong predictions many times and the money we use for trading or investment is borrowed money, it will actually be a burden on our minds.
We just save little by little for crypto investment, if we are consistent then it will also accumulate a lot.

[Makus]

I can't say for sure what percentage of our chances are to make a profit by using borrowed money, I can only say that it is very risky and can't say anything more specific.

We must be smart in making decisions, don't force ourselves just because we see the benefits that can be obtained because in fact behind that there is a big risk that we take. So once I will say think and consider carefully.

Considering how volatile and how unpredictable the market can be, I wouldn't advice anyone into investing with loans. Long term projects can sometimes go against our prediction when there is a news that sellers and buyers start reacting to. A great Bitcoin or crypto enthusiast could pop up any day and say something related to a project and that could affect the price value positively or negatively depending on what he or she says as buyers or sellers responds.  Being unpredictable is enough to prove that loans aren't a good idea for trading cryptocurrency.

[Rubel007]

I must say that ever business generally has some risk involved and as you know, business is a pool of risk. As there are fiat loans for businesses, I don't see it a bad idea getting a crypto, it depends on your loan purposes.
Getting a crypto loan for a crypto investment purposes may not be a good idea because the crypto market is very volatile except you can repay your loan the through other sources when the market goes bearish.
Getting a crypto loan for trading is good but, at least, you must be experienced in crypto trading to succeed.

If I should advise anyone in taking loans for cryptocurrency trading then my first question is, do you have a guaranteed source of income aside crypto that can be used to settle the loan payment should in case things go sideways? If the answer is no, then you are taking too much of risk and I'm not part of it. No matter how reputable the project is, sometimes you might be correct with your analysis at buying at the dip with loans and expect the bull to create an increase in your portfolio. But sometimes the market can be manipulated and  for it to recover to the normal trend it might take a while due to the weight of the manipulation, and that period must have added extra interest to your loan.

A lot can be done with loan. Many of those who have become big businessmen today, despite having money, they do business with loans. A big advantage here is that you get the benefit of investing here without owning your own money and also get a chance to profit from it. But the main thing is that you must be able to repay the loan. Taking a loan is certainly not bad if it can be repaid. Taking a loan in cryptocurrency is viewed differently by many because cryptocurrency is volatile in nature with high potential for profit and loss. If one has any other financial source then taking loan and investing is definitely a good decision.

[Jamal Aezaz]

Any one without a source of income should not engage in cryptocurrency investment, I'm still surprise why some people will engage in cryptocurrency investment without having a source of income and will go and borrow in other to invest in crypto, any one who borrows just to invest in cryptocurrency really don't understand what cryptocurrency investment is and that is why I will always advise people to engage in studying about cryptocurrency before talking about investing.
A lot of people really don't understand what is cryptocurrency they only heard of it and felt is the best investment to go into and make a lot of money, some people sees cryptocurrency investment as ponzi scheme were you can just invest and start getting money quickly.

Anyone going into cryptocurrency investment without a source of income should not bother investing Because cryptocurrency investment involves patience, you need to have patience in other to make profit.
Taking loan so you can invest in cryptocurrency is a wrong and should not be encouraged.

People are a part of crypto investment without any other income source because they assume that crypto investment is so easy that it will give them salary smoothly but this is not a fact. If they don't possess any job and they start to invest in crypto with their own little amount or borrowed amount from others then here is the process of borrowing initiates and a person always focuses on getting money from others instead of doing any job to cover his expenses.

Those individuals are not using their mind who listens from others and believe their words easily so they are engaging themselves in a process that is worthy for others who are educated but ignorant people are getting nothing from it therefore it is essential to understand that your profit is dependent on percentage of your knowledge so you can decide about your success by deciding about your learning before investment.

[bayu7adi]

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 is not really increasing our assets.. moreover taking risks with money that is not even ours, is a very terrible decision... several times I heard advice from people here to invest in cryptocurrency using money that we can afford to lose... and that is at least better than having to invest using borrowed money....

Everyone here seems to agree, that borrowing money to invest in cryptocurrency cannot be used as a stepping stone to a settled condition... we must learn to be patient to manage the assets we have first, starting from small and then slowly starting to grow.

As for steady income (as a dependable income to live on) from cryptocurrency, it exists... and some people do get paid from cryptocurrency... steady work may be very difficult, unless he is a professional.

[Dr.Bitcoin_Strange]

I can't say for sure what percentage of our chances are to make a profit by using borrowed money, I can only say that it is very risky and can't say anything more specific.

We must be smart in making decisions, don't force ourselves just because we see the benefits that can be obtained because in fact behind that there is a big risk that we take. So once I will say think and consider carefully.

Borrowing money for crypto has a very high risk, we should not do it. Because our predictions in trading or investment are not necessarily always right, if we make wrong predictions many times and the money we use for trading or investment is borrowed money, it will actually be a burden on our minds.
We just save little by little for crypto investment, if we are consistent then it will also accumulate a lot.

Borrowing or taking loan to invest in cryptocurrency is a very bad decision to make, anyone that will do such really do not know anything about cryptocurrency, a lot of people when they hear that cryptocurrency made or has made a close friend or family relative rich they rush into it without knowing anything about cryptocurrency those are the people that mostly take loans just invest in cryptocurrency because no one who knows how cryptocurrency works will go and borrow money or take loan to invest.
When going into cryptocurrency is best you invest with the best coin in the world which is Bitcoin, if you are working and you receive salary no need to borrow or take loans to invest in it just remove a percentage from your salary weekly or monthly and put it your Bitcoin investment and be consistent in doing it and also have patience, there are people who started there Bitcoin accumulation journey 10 years ago and till now they are still holding but they have made huge profit Bitcoin investment is about being consistent and patient.

A lot of people borrow or take loan to accumulate more coin so they can make huge amount of profit when the value of the coin has gone high, and they later enter into trouble.
Greed has made a lot of people lose a lot, a greed person into cryptocurrency investment always fine his or her self losing money.
The reasons why people borrow money or take loan is because of greed and lack of knowledge about cryptocurrency.