Cryptocurrency good or bad for loan?

[|MINER|]

          -   Applying for a loan is only helpful if, for example, you are going through something where you need to borrow money due to an unexpected and dire need, or if you will use it in a business that you love and can afford, but you just don't have the capital to get started.

But if you only borrow and only have luxury for yourself, that's not good, even if you say you have a stable source of income. Maybe you can buy bitcoin or other altcoins that are listed on the top market. Since you have a stable job, this strategy is getting better and better.

Crypto should never be the main source of income.  Because investing in crypto requires money.  Moreover, it is not possible to earn money by entering cryptocurrency.  This is the place for analysis.  If someone keeps cryptocurrency as the main source of income in his life, he must be in trouble.  And I think you should never invest anywhere with a loan.  Because it can cause disruption in life.  Because how can you guarantee that you will make a profit from this investment?  It can also be loss.  So one should never engage in any kind of risky business with loans.  If you have a good source of income, you can get into crypto currency and start earning from it with time analysis.

[Ricardo11]

Cryptocurrency will not always give you profit. You are bound to incur losses at some point, and you must have a steady source of income to cover these losses. Moreover, trading in cryptocurrency with loans from banks is full of high risks. Because this money can be lost due to the volatility of the crypto market, and how will you repay your bank loan if the real money is lost? At that time you have to face many big problems. So trade crypto with that money, which you can afford to lose. And of course you must have a separate permanent source of income. So that if you fall into a loss then you can cover that loss very easily.

[bee]

Now can you tell me if that 63% can invest in bitcoin because they are not living with a dollar which is #1500 a day. Jesus, can you just imagine what those people are passing through and because people were saying that bitcoin is everyone there everyone can invest. Nobody has disputed the fact that bitcoin is not for everyone but not everyone can invest because of cost of living. And that was why I also brought that bricklayer story thinking that you would understand but it seems tht you analyze bitcoin investment base idealistic and not in realistic.

Bitcoin is not just about investment. You can tell them about decentralized people's currencies blah... blah.. blah... and then they respond well to your explanation so that they open up the opportunity to own or use bitcoin someday. When that happens, bitcoin is for them and they can welcome it any time.

"Money is a representation of your efforts, it can't feed you by itself. Likewise Bitcoin..."

[Agbe]

Now can you tell me if that 63% can invest in bitcoin because they are not living with a dollar which is #1500 a day. Jesus, can you just imagine what those people are passing through and because people were saying that bitcoin is everyone there everyone can invest. Nobody has disputed the fact that bitcoin is not for everyone but not everyone can invest because of cost of living. And that was why I also brought that bricklayer story thinking that you would understand but it seems tht you analyze bitcoin investment base idealistic and not in realistic.

Bitcoin is not just about investment. You can tell them about decentralized people's currencies blah... blah.. blah... and then they respond well to your explanation so that they open up the opportunity to own or use bitcoin someday. When that happens, bitcoin is for them and they can welcome it any time.

"Money is a representation of your efforts, it can't feed you by itself. Likewise Bitcoin..."

Before the invention of currency there were different ways our fathers and mothers were using to exchange things in the market and I also meant one method which is trade by barter or barter trade. And when finally because of capitalism selfish interest money was invented and it serve different purposes which bitcoin was also created upon but the different is that, fiat is physical which every see and use the hard copy to exchange goods or services but bitcoin is only foe internet so you don't have everyone to use it. Let me tell you something, in my country the government enact cashless policy for all the citizens to use internet to buy things and pay for services and this policy started from the previous government and gradually implemented by thr the present government and till now, 80% can't use it and many people don't even have the money because many are not with $1 a day. And if you understand my comments, it is very clear that bitcoin is for everyone to invest because it is an open source for all but not everyone have the resources to invest that is very simple realistic and from the image I showcase it has made everything clear.

[Jewan420]

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 would strongly disagree with investing in debt. This is what I would call bullshit. Just because you're investing in cryptocurrency doesn't mean you'll become rich overnight. There is also the possibility of loss. How will you repay the loan if you face a loss after you invest with the loan? Your quality of life may decrease. Many people make their living from investing, in this case you need to be experienced and have a large investment portfolio. In this case you cannot avoid the possibility of loss.

[Rubel007]

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 would strongly disagree with investing in debt. This is what I would call bullshit. Just because you're investing in cryptocurrency doesn't mean you'll become rich overnight. There is also the possibility of loss. How will you repay the loan if you face a loss after you invest with the loan? Your quality of life may decrease. Many people make their living from investing, in this case you need to be experienced and have a large investment portfolio. In this case you cannot avoid the possibility of loss.

You need to understand whether you have the ability to repay before taking a loan. You should only take a loan if you can repay the loan amount to the bank regularly from your current income. Otherwise you will get into financial crisis. If one thinks that he will invest and will repay the bank loan with the profit from that investment then it is absolutely a wrong idea. Taking loan is bad for those who fail to repay. But loans can create good opportunities for those who have the ability to repay.

[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?

I would strongly disagree with investing in debt. This is what I would call bullshit. Just because you're investing in cryptocurrency doesn't mean you'll become rich overnight. There is also the possibility of loss. How will you repay the loan if you face a loss after you invest with the loan? Your quality of life may decrease. Many people make their living from investing, in this case you need to be experienced and have a large investment portfolio. In this case you cannot avoid the possibility of loss.

You need to understand whether you have the ability to repay before taking a loan. You should only take a loan if you can repay the loan amount to the bank regularly from your current income. Otherwise you will get into financial crisis. If one thinks that he will invest and will repay the bank loan with the profit from that investment then it is absolutely a wrong idea. Taking loan is bad for those who fail to repay. But loans can create good opportunities for those who have the ability to repay.

I think I have to say the same as you, that there is no problem making a loan, that loans are not a strange thing in banking. Many large companies also use loans from banks to carry out production innovations. The most important thing is the ability to be able to pay the loan installments that we make and not interfere with our daily needs.
But I agree, don't try to use profits to pay off loans, as we know this investment takes quite a long time, and we don't know when we will receive profits. At least it takes 4 years to make a profit.

[silkytakyaan86]

According to me, investing in crypto is like a game in which it is do or die. In profit, it will cover all your expenses in a minute. Otherwise, it will give you a loss twice that amount. You just need to have luck on your side.

[Roseline492]

Crypto should never be the main source of income.  Because investing in crypto requires money.  Moreover, it is not possible to earn money by entering cryptocurrency.  This is the place for analysis.  If someone keeps cryptocurrency as the main source of income in his life, he must be in trouble.  And I think you should never invest anywhere with a loan. 
Because it can cause disruption in life.

You are right but I disagree with you in some extend especially the aspect you mentioned that is not possible for someone to earn money by entering into cryptocurrency because if somebody cannot earn money from there cryptocurrency investment then there wouldn't be any need to venture into cryptocurrency because everybody's goal on there Bitcoin investment is to make profits.

But however you are very correct in the aspect you emphasize on having other sources of income because one of the thing about investment is that it makes more sense when we have other means of getting money instead of depending on there investment for there survival, also loan is the last thing somebody should consider in terms of there investment because the possibility of getting a good profits on a short term is not certain.

[Dr.Bitcoin_Strange]

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 would strongly disagree with investing in debt. This is what I would call bullshit. Just because you're investing in cryptocurrency doesn't mean you'll become rich overnight. There is also the possibility of loss. How will you repay the loan if you face a loss after you invest with the loan? Your quality of life may decrease. Many people make their living from investing, in this case you need to be experienced and have a large investment portfolio. In this case you cannot avoid the possibility of loss.

Yes you're absolutely correct, it'll be a ridiculous idea to take up loans simply because you intend to invest and make profits and then use that profit to repay the loan, that's nothing but a fool's thought and no reasonable person who has an idea of the nature of the crypto market, he'd be wise enough to know that the crypto market us the most volatile, unstable and unpredictable investment, so delving into it, assuming/hoping to just go into the crypto market and start making profits would be complete stupidity.

But although there could actually be exceptions to this, if the investor already has an active portfolio, then wish to seize an opportunity to buy a DIP , and has an alternative option to repay the loan, just incase things go wrong, which is definitely possible.

[pieppiep]

Crypto should never be the main source of income.  Because investing in crypto requires money.  Moreover, it is not possible to earn money by entering cryptocurrency.  This is the place for analysis.  If someone keeps cryptocurrency as the main source of income in his life, he must be in trouble.  And I think you should never invest anywhere with a loan. 
Because it can cause disruption in life.

You are right but I disagree with you in some extend especially the aspect you mentioned that is not possible for someone to earn money by entering into cryptocurrency because if somebody cannot earn money from there cryptocurrency investment then there wouldn't be any need to venture into cryptocurrency because everybody's goal on there Bitcoin investment is to make profits.

But however you are very correct in the aspect you emphasize on having other sources of income because one of the thing about investment is that it makes more sense when we have other means of getting money instead of depending on there investment for there survival, also loan is the last thing somebody should consider in terms of there investment because the possibility of getting a good profits on a short term is not certain.

It's true, everyone has different opportunities, maybe there are some who can't make a profit from Cryptocurrency, but we also have to know that there are still many people who have managed to make a profit from Cryptocurrency. There are many ways to profit from Cryptocurrency. By participating in campaigns, airdrops or trading, we have the potential to make a profit. We must be active in Cryptocurrency so that the possibility of profit will be very higher than we think.

[Gposas]

Taking loan from a third party is not advisable for any reason, as others who made comments on this post has pointed out, investing is a risk always invest the amount of money you can afford to lose. The market can look like it's about going up and ends up coming down and lock up ur funds in loss, the ability of paying back the loan you've collected at an agreed period of time will likely become Impossible, because most times it takes a long time for the market to experience a bull run.
I'll advise you, do not take loan from bank or any third party for trading/investment, rather you can go into margin trading where you can take some leverage (borrow) from the exchange you are using to trade.

[Jaephoenix]

Crypto is always a bad collateral for loans. It can go south any time of the day, or go great. However its volatility is something we know and I won't personally borrow against it because the value can tank and leave one stranded in the middle of the sea with no oars

[Captain Corporate]

Remember, even if there is a win, even if you profit, if you do not profit more than what you have to repay, then you are making a loss. So lets assume that you took 10k loan, and you need to pay 500 each month, if you make 400 profit, then you are still in 100. People keep forgetting that part and that makes me super angry. There is absolutely no reason to keep thinking that if you profit, you are going to be fine. In many cases, people could still make some profit, because there are times when you make a lot of money, but if you miss that chance then you are going to end up with a huge loss. Don't take loans, just to invest into bitcoin.

[KingsDen]

Crypto is always a bad collateral for loans. It can go south any time of the day, or go great. However its volatility is something we know and I won't personally borrow against it because the value can tank and leave one stranded in the middle of the sea with no oars

The op did not say about using cryptocurrency as a collateral for loan. Rather, he is saying about getting alone with whatever collateral you wish, then using the loan money to invest in cryptocurrency.
I consider this some kind of double risk, this is because investing in cryptocurrency is a big risk already and then taking a loan is another kind of risk. You should only embark on this if you are emotionally strong to bear this. Especially when the market is seriously on the red lane and the period for the loan is fast elapsing. I think this surely be a horrible experience.