Cryptocurrency good or bad for loan?

[Agbe]

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 don't like investing in cryptocurrencies with debt, it's a very bad thing. There are many people who invest in cryptocurrencies by taking loans and they get into a lot of trouble when the market gets dumped a lot. I saw an acquaintance of mine who bought cryptocurrency with a loan from a bank, then had to sell at a loss to pay off the loan because the market was dumping so much, and later mortgaged their land to someone else to pay off the loan because they couldn't pay off the full loan. So if a person does not have a fixed source of income then I think that person should not do anything by taking loans. If you want to invest in cryptocurrencies, it is definitely better to invest in DCA method by earning from cryptocurrencies.

Even the DCA method needs constant flow of income, because when the time comes to buy then the person have to buy at that time he as set for the purchase of the coin through the DCA pattern. So for one to enjoy the investment of bitcoin, he or she needs constant income inflow so that there will be no break. And if anyone taking debt to invest in bitcoin, the person will not have a good time to sleep well because he will be thinking how things are going to be. That is the highest investment plan. One can take loan to start up a business that can generate income everyday and not bitcoin. And through the business you are doing them you set out the DCA method to invest in bitcoin.

If you don't have any money to invest in bitcoin, it is better that you find a job and use part of your discretionary income to invest to enable you hodli your investment for long. Taking loan because you want to invest in bitcoin is a wrong approach and that alone can make your financial situation worst. This is because you will not have rest of mind and there will be emotional trauma most times. Whenever bitcoin price dips, you will almost have a heart attack. Lastly, bitcoin is not guaranteed to be profitable in future so we should not use past event to conclude what will happen in the future.

It is not even advisable for a manual labourer who is just a bricklayer to invest in bitcoin unless the person is working in warehouse, manufacturing companies or construction companies because those companies salary is high and he can do the mathematics to divide the salary into parts and invest in bitcoin with 1%. And using the DCA method to invest weekly or monthly all depends on the salary schedule.

[Makus]

Even the DCA method needs constant flow of income, because when the time comes to buy then the person have to buy at that time he as set for the purchase of the coin through the DCA pattern. So for one to enjoy the investment of bitcoin, he or she needs constant income inflow so that there will be no break. And if anyone taking debt to invest in bitcoin, the person will not have a good time to sleep well because he will be thinking how things are going to be. That is the highest investment plan. One can take loan to start up a business that can generate income everyday and not bitcoin. And through the business you are doing them you set out the DCA method to invest in bitcoin.

There is absolutely nothing a Bitcoin enthusiast can do without an income flow, and this is the more reason we are told at first to have a source of income to make sure the process of accumulation is continuous, because consistency is the key to building a great Bitcoin portfolio. Bitcoin investment has risk attached and making a single mistake could end your holding career. You can imagine trying to make a Bitcoin transaction and you mistakenly sent it to a wrong Bitcoin address. Loans are not advisable to be used in your Bitcoin investment because it will only create more problems and the interest from the loan will definitely start increasing rapidly.

[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?

I don't like investing in cryptocurrencies with debt, it's a very bad thing. There are many people who invest in cryptocurrencies by taking loans and they get into a lot of trouble when the market gets dumped a lot. I saw an acquaintance of mine who bought cryptocurrency with a loan from a bank, then had to sell at a loss to pay off the loan because the market was dumping so much, and later mortgaged their land to someone else to pay off the loan because they couldn't pay off the full loan. So if a person does not have a fixed source of income then I think that person should not do anything by taking loans. If you want to invest in cryptocurrencies, it is definitely better to invest in DCA method by earning from cryptocurrencies.

Even the DCA method needs constant flow of income, because when the time comes to buy then the person have to buy at that time he as set for the purchase of the coin through the DCA pattern. So for one to enjoy the investment of bitcoin, he or she needs constant income inflow so that there will be no break. And if anyone taking debt to invest in bitcoin, the person will not have a good time to sleep well because he will be thinking how things are going to be. That is the highest investment plan. One can take loan to start up a business that can generate income everyday and not bitcoin. And through the business you are doing them you set out the DCA method to invest in bitcoin.

         -   I don't think it's fair, because from what I can see, it's really just China's strategy if they can do this, so that they can have a large number of Bitcoin and other top altcoins in the market that they can profit from. Especially since we are in the bull run season, many people are looking forward to this matter.

That's why it seems like China is just going along with the long-term holders of Bitcoin and other top altcoins in the market. Maybe they also notice that there are many other countries that have their own big investors who are obsessed with Bitcoin. So, I think things will be normal.

[kuriboh]

If you don't have any money to invest in bitcoin, it is better that you find a job and use part of your discretionary income to invest to enable you hodli your investment for long. Taking loan because you want to invest in bitcoin is a wrong approach and that alone can make your financial situation worst. This is because you will not have rest of mind and there will be emotional trauma most times. Whenever bitcoin price dips, you will almost have a heart attack. Lastly, bitcoin is not guaranteed to be profitable in future so we should not use past event to conclude what will happen in the future.

It is not even advisable for a manual labourer who is just a bricklayer to invest in bitcoin unless the person is working in warehouse, manufacturing companies or construction companies because those companies salary is high and he can do the mathematics to divide the salary into parts and invest in bitcoin with 1%. And using the DCA method to invest weekly or monthly all depends on the salary schedule.

Yes, you are right. I agree with you. It is straightforward for a worker, regardless of salary, if he has the attitude to invest a little bit every month in bitcoins. We see that, at the end of the day, if a part of the setting remains, it helps us avoid danger. After all, it will be possible if you continue to invest in Bitcoin little by little.

[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?

When it comes on getting up some loan and investing on cryptocurrency and you are really that just relying into the returns or profits that you could really be able to get
from it then you are really just that digging your own grave. Why? you would really be just that basically making yourself putting up on huge trouble on the moment that you would
be needing to pay up those interest on monthly basis or even just paying up the whole amount in due time. You cant just rely with crypto profits because we do know
that this market isnt something that you could really be able to rely with.

[Agbe]

Yes, you are right. I agree with you. It is straightforward for a worker, regardless of salary, if he has the attitude to invest a little bit every month in bitcoins. We see that, at the end of the day, if a part of the setting remains, it helps us avoid danger. After all, it will be possible if you continue to invest in Bitcoin little by little.

Investing gradually to fill the tank is one of the best approach in the investment plan but most of them want to invest once at for all and they don't have the money to do that. Good investor always plan for himself when to invest. If someone invest every month with the percentage he has set aside for like two years then he will achieved enough BTC in the tank or portfolio.

[Jamal Aezaz]

Yes, you are right. I agree with you. It is straightforward for a worker, regardless of salary, if he has the attitude to invest a little bit every month in bitcoins. We see that, at the end of the day, if a part of the setting remains, it helps us avoid danger. After all, it will be possible if you continue to invest in Bitcoin little by little.

Some people are in a desire to buy one Bitcoin at once but this is not possible all the time therefore the best idea to invest in Bitcoin is to save or invest some amount from your salary every month if you are able to manage home expenses well. Our dream will come true only if we try for it and accumulate little by little if we are not able to buy at a single try so at last we will see fruitful results of our efforts.

If you see that Bitcoin price is lower then don't stop to accumulate because that is the only time when your accumulation will give you something better during bull season. If you become afraid of dropping the value of Bitcoin then you will not only miss the opportunity but will also be deprived of making further accumulation due to lack of trust and knowledge.

[Rubel007]

If you don't have any money to invest in bitcoin, it is better that you find a job and use part of your discretionary income to invest to enable you hodli your investment for long. Taking loan because you want to invest in bitcoin is a wrong approach and that alone can make your financial situation worst. This is because you will not have rest of mind and there will be emotional trauma most times. Whenever bitcoin price dips, you will almost have a heart attack. Lastly, bitcoin is not guaranteed to be profitable in future so we should not use past event to conclude what will happen in the future.

It is not even advisable for a manual labourer who is just a bricklayer to invest in bitcoin unless the person is working in warehouse, manufacturing companies or construction companies because those companies salary is high and he can do the mathematics to divide the salary into parts and invest in bitcoin with 1%. And using the DCA method to invest weekly or monthly all depends on the salary schedule.

I agree with you that it is not possible for a day laborer to keep a small amount in Bitcoin unless he has multiple income facilities. If one wants to accumulate bitcoins only by doing manual labor, even if he continues for a few days, it may not be possible to manage it regularly. And those who have a decent income especially those who do good jobs can easily manage DCA. However, even if someone has a high income, there is no way to say that he is financially well because there are many people who get high salary but that money runs out before the end of the month in different ways. Though it is not the same for everyone. And in the case of loans, those who have the ability to repay are eligible to receive loans.

[MUGNIA]

If you don't have any money to invest in bitcoin, it is better that you find a job and use part of your discretionary income to invest to enable you hodli your investment for long. Taking loan because you want to invest in bitcoin is a wrong approach and that alone can make your financial situation worst. This is because you will not have rest of mind and there will be emotional trauma most times. Whenever bitcoin price dips, you will almost have a heart attack. Lastly, bitcoin is not guaranteed to be profitable in future so we should not use past event to conclude what will happen in the future.

It is not even advisable for a manual labourer who is just a bricklayer to invest in bitcoin unless the person is working in warehouse, manufacturing companies or construction companies because those companies salary is high and he can do the mathematics to divide the salary into parts and invest in bitcoin with 1%. And using the DCA method to invest weekly or monthly all depends on the salary schedule.

I think you are wrong in this case, everyone can invest, even if they are construction workers, because I am a housewife, I can invest in Bitcoin and other crypto by just setting aside my spending money.
Everyone can invest if they have the intention and have a goal

[Roseline492]

is not possible for a day laborer to keep a small amount in Bitcoin unless he has multiple income facilities. If one wants to accumulate bitcoins only by doing manual labor, even if he continues for a few days, it may not be possible to manage it regularly.

Indeed is not really possible for someone who barely take care of themselves to maintain a regular accumulation of Bitcoin especially the person that specialized on doing labouring work to gather money for Bitcoin investment, however in a case like that I would advise the person to work very hard and gather enough money that would be enough for him to establish a little business that would be fetching them some profits no matter how little it is but over time with consistency the business will appreciate.

So from there they could possibly start investing on Bitcoin because they have already established a source of income, so from the little profit they will be getting from the business will be enough to keep them consistent in accumulation of Bitcoin, and with this method the investor will hardly run into trouble while holding, so sometimes with a proper planning even when somebody doesn't have something to start with will be surprised with how far they will go on there Bitcoin investment.

[milewilda]

If you don't have any money to invest in bitcoin, it is better that you find a job and use part of your discretionary income to invest to enable you hodli your investment for long. Taking loan because you want to invest in bitcoin is a wrong approach and that alone can make your financial situation worst. This is because you will not have rest of mind and there will be emotional trauma most times. Whenever bitcoin price dips, you will almost have a heart attack. Lastly, bitcoin is not guaranteed to be profitable in future so we should not use past event to conclude what will happen in the future.

It is not even advisable for a manual labourer who is just a bricklayer to invest in bitcoin unless the person is working in warehouse, manufacturing companies or construction companies because those companies salary is high and he can do the mathematics to divide the salary into parts and invest in bitcoin with 1%. And using the DCA method to invest weekly or monthly all depends on the salary schedule.

I think you are wrong in this case, everyone can invest, even if they are construction workers, because I am a housewife, I can invest in Bitcoin and other crypto by just setting aside my spending money.
Everyone can invest if they have the intention and have a goal

Yes, its for everyone and it would really bej ust that wrong that you would really be making out those kind of limiting conditions about on whose the one would really be tending to invest.
We do know that as long you would really be that having the money to invest on then you could freely make out some decisions whether you would really be investing or not.
It all matters on how you would really be able to take the risks since not all would really be that able to bare up with the risks and would really be that much preferring
that they would really be wanting or liking on playing safe.

[Agbe]

I think you are wrong in this case, everyone can invest, even if they are construction workers, because I am a housewife, I can invest in Bitcoin and other crypto by just setting aside my spending money.
Everyone can invest if they have the intention and have a goal

I am saying this with an experience and not just saying it because I wanted to say it. A house wife can invest in bitcoin because she has an allowance and also a student can invest in bitcoin because he or she has an allowance, and a construction worker who works in company can invest in bitcoin without but a construction worker who hired by individual and there are times one  full month he has not seen work to do. My sister it will be hard for that person to invest in bitcoin because definitely he will temper the investment to survive.

I am saying this out of experience. It is not because others can invest, we have to generalized it. Bitcoin investment needs constant income either monthly or weekly and aside that then the person must tempered the investment to survive and there is no dispute on that. And individual bricklayer construction worker who is not in a company but working alone hard to invest in bitcoin unless he is not yet married. "Experience is the best Teacher". And I don't know if you really get my point. I am talking about Artisan workers and not the industrial workers.

[alltalk]

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You don't need to make two consecutive posts. Please make it into one post next time!!

Loans are not advisable to be used in your Bitcoin investment because it will only create more problems and the interest from the loan will definitely start increasing rapidly.

Everyone is expected to never take out loans to invest in Bitcoin. Bitcoin investment fundamentally is high risk because the price is unpredictable and no guarantee for profits. Bitcoin price is also easily changed, the raise and drop can be very extremely. If we don't use safe money, we may panic because of the changes. Moreover if we want to take profits soon, sometimes we need to wait for a long time because the price movement in Bitcoin takes time. I can't imagine if someone takes a loan and he must repay it soon. it must burden his mind because he probably wait for a long time and he can't repay it on time.

[Agbe]

Snip

I didn't notice it. I don't normally do such mistakes and this is my first time.i am seen this. When I received the notification from you I went there to check if I can see a delete link or button to delete one of them but I didn't see the delete option so if your can help me to delete the second one then I will be appreciated. Though they are all different information but I copied the second comment and will place it in the first comment as a quote. Thanks for understanding. Delete the second one.

[alltalk]

Snip

I didn't notice it. I don't normally do such mistakes and this is my first time.i am seen this. When I received the notification from you I went there to check if I can see a delete link or button to delete one of them but I didn't see the delete option so if your can help me to delete the second one then I will be appreciated. Though they are all different information but I copied the second comment and will place it in the first comment as a quote. Thanks for understanding. Delete the second one.

If you can't find the delete button, you can have 2 options:
1. Blank the post you want to delete. Write down "deleted" in the post.
2. Report the post to moderators. Use the button "Report to moderator" below your post.

I can understand it because I only see it for the first time. I know you are one of reputable members. Just never do it again in the future.