Cryptocurrency good or bad for loan?

[yohananaomi]

I agree with the first rule of investing in crypto that you said by using money that we can afford to lose, because we don't panic when the market goes down. and remain patient waiting for the market to go back up.
but having money that is not needed and can afford to lose at least we must have income to meet monthly needs so as not to interfere with crypto investment.

And this rules is more important when a person entering in crypto for the first time I meant those who were the beginner even then I already mentioned that most of the professional trader who were famous in the world of trading those also doing the same thing. I never heard that any of them taking loan for investing i.e. trading.

And I also seen few peoples around me I mean those are my close people who borrow from me and did trade on future and after losing the fund he also takes lots of time to give my money back and also his situation is became also bad. So these are the real experience to not invest that much you can't afford to lose.

I agree with many people who say do not take loans to invest in crypto, or trade with borrowed money. I agree with you, I also have not heard of any professional traders who borrow money to trade. This is very risky so it is better not to do it.
We invest with free money and not from loans.

If there are unused funds and can be used, of course, it is very good to do it, but sometimes there is something that requires us to be wiser about taking out a loan take, but it must be ensured that we can return it when the time comes. If you can't do it, then,n't take out a loan. Sometimes when we are smart in managing the time when we borrow and buy then it is not detrimental because we get immediate profit and the loan can be returned. Once again if possible, not taking out a loan is the best thing.

[Crypto Library]

Until now, I still don't understand why people here are discouraging other people to invest into cryptocurrency using loans. I mean is there any bad thing about it? Yes, it's bad if you bought at the wrong time, and you don't have money to use to pay that loan, but if you took a loan, and borrowed during the bear market then in a few years' time, you will end up making profit.

Here I want to mentioned that not only just having trading with the borrowing fund is a bad thing I think it is also a bad thing when a people invest his all assets what he can't afford to loose.
Suppose I have only 1000$ in my bank and rather than borrowing I just invested the 1000$ of mine in crypto definitely I will say that this was also a bad thing if peoples do this. I also seen some peoples who didn't borrow for trading but they borrow cause he lost his fund in trading and for running his lives he borrowed the fund from others.

[satpol_PP]

Until now, I still don't understand why people here are discouraging other people to invest into cryptocurrency using loans. I mean is there any bad thing about it? Yes, it's bad if you bought at the wrong time, and you don't have money to use to pay that loan, but if you took a loan, and borrowed during the bear market then in a few years' time, you will end up making profit.

Here I want to mentioned that not only just having trading with the borrowing fund is a bad thing I think it is also a bad thing when a people invest his all assets what he can't afford to loose.
Suppose I have only 1000$ in my bank and rather than borrowing I just invested the 1000$ of mine in crypto definitely I will say that this was also a bad thing if peoples do this. I also seen some peoples who didn't borrow for trading but they borrow cause he lost his fund in trading and for running his lives he borrowed the fund from others.

Everyone has their own considerations in investing but I agree with you that you should not use borrowed money for investment or trading, because the risk is high. And we should use funds that we can afford to lose. A capital of $1000 is big for me, so if I have that much capital I will use half of it and the rest for reserves in case of emergency.

[UNIVERSE]

Everyone has their own considerations in investing but I agree with you that you should not use borrowed money for investment or trading, because the risk is high. And we should use funds that we can afford to lose. A capital of $1000 is big for me, so if I have that much capital I will use half of it and the rest for reserves in case of emergency.

Very true. Using borrowed money is too risky for trading or investing in crypto coins. This is even not recommended to do in any type of investment. If we have no big money, we can do DCA. With DCA, we can buy crypto coin gradually. If we buying in 2 years, we must have enough coins in our wallets. It is not a must to invest with $1000 immediately in crypto. We must always remember that we should invest in the amount of money that we always can afford to lose. So, don't force ourselves to invest with borrowed money.

[yohananaomi]

Everyone has their own considerations in investing but I agree with you that you should not use borrowed money for investment or trading, because the risk is high. And we should use funds that we can afford to lose. A capital of $1000 is big for me, so if I have that much capital I will use half of it and the rest for reserves in case of emergency.

Very true. Using borrowed money is too risky for trading or investing in crypto coins. This is even not recommended to do in any type of investment. If we have no big money, we can do DCA. With DCA, we can buy crypto coin gradually. If we buying in 2 years, we must have enough coins in our wallets. It is not a must to invest with $1000 immediately in crypto. We must always remember that we should invest in the amount of money that we always can afford to lose. So, don't force ourselves to invest with borrowed money.

There is always a risk in everything we do, it's just a matter of how well we anticipate the risk. Some are afraid to borrow to invest in crypto, but some dare to do it because it is certain that the borrower can anticipate the risks that will occur with thorough preparation. But I agree with you not to take any loans to invest in crypto but to do it with DCA so that what you want can be fulfilled. It is true that every time we do DCA, it means that we only use the existing amount for investment and there is no need for a target amount.

[Crypto Library]

Everyone has their own considerations in investing but I agree with you that you should not use borrowed money for investment or trading, because the risk is high. And we should use funds that we can afford to lose. A capital of $1000 is big for me, so if I have that much capital I will use half of it and the rest for reserves in case of emergency.

That is why I always try to divided my incoming funds in three different parts like one part on the Bitcoin investment what I regularly do even then there us also gap, and on the another part I try to hold the USDT and also with the another part I use for my daily necessity with the fiat currency and even then there was savings from that.

And I also invest on some few altcoins from the USDT I mean I mean from the stable fund what I hold for the emergency situations.

[JISAN]

Everyone has their own considerations in investing but I agree with you that you should not use borrowed money for investment or trading, because the risk is high. And we should use funds that we can afford to lose. A capital of $1000 is big for me, so if I have that much capital I will use half of it and the rest for reserves in case of emergency.

That is why I always try to divided my incoming funds in three different parts like one part on the Bitcoin investment what I regularly do even then there us also gap, and on the another part I try to hold the USDT and also with the another part I use for my daily necessity with the fiat currency and even then there was savings from that.

And I also invest on some few altcoins from the USDT I mean I mean from the stable fund what I hold for the emergency situations.

Your money management is good enough.  Investing in Bitcoin is definitely a good decision and you can invest in other altcoins as well.  And if we are going to consider the rate of inflation then in this case it is better to save money in stable coin USDT, USDC because they are equivalent to dollar so if you save your money in them inflation will not touch you.  The inflation of each country's currency is calculated relative to the dollar, but if you have dollars, you have that fear.  So I am not in favor of keeping Fiat money, I myself always avoid Fiat money now

[satpol_PP]

Your money management is good enough.  Investing in Bitcoin is definitely a good decision and you can invest in other altcoins as well.  And if we are going to consider the rate of inflation then in this case it is better to save money in stable coin USDT, USDC because they are equivalent to dollar so if you save your money in them inflation will not touch you.  The inflation of each country's currency is calculated relative to the dollar, but if you have dollars, you have that fear.  So I am not in favor of keeping Fiat money, I myself always avoid Fiat money now

To avoid inflation, it is better to save our money in crypto, because crypto has a hedge, we will even get profit if we save it in bitcoin and other top coins. But if you choose a stable coin like USDT, it cannot provide great profit, it only protects our value from inflation.
if I choose to save it in bitcoin. Because the price of bitcoin is getting more expensive and the popularity of bitcoin is increasing because it is supported by famous people like trump.

[legend45]

Everyone has their own considerations in investing but I agree with you that you should not use borrowed money for investment or trading, because the risk is high. And we should use funds that we can afford to lose. A capital of $1000 is big for me, so if I have that much capital I will use half of it and the rest for reserves in case of emergency.

That is why I always try to divided my incoming funds in three different parts like one part on the Bitcoin investment what I regularly do even then there us also gap, and on the another part I try to hold the USDT and also with the another part I use for my daily necessity with the fiat currency and even then there was savings from that.

And I also invest on some few altcoins from the USDT I mean I mean from the stable fund what I hold for the emergency situations.

good financial management when you divide your funds into 3 parts and prepare funds for emergency needs. I also divide my funds into two parts, some for investing in crypto and some for savings in FIAT because sometimes there are emergency needs for my family that I have to fulfill.

[alltalk]

To avoid inflation, it is better to save our money in crypto, because crypto has a hedge, we will even get profit if we save it in bitcoin and other top coins. But if you choose a stable coin like USDT, it cannot provide great profit, it only protects our value from inflation.
if I choose to save it in bitcoin. Because the price of bitcoin is getting more expensive and the popularity of bitcoin is increasing because it is supported by famous people like trump.

Basically, we can't avoid inflation. We only can try effort to deal with inflation.
Sure, saving or investing in crypto is a good idea. Most crypto coins keep increasing their values in each cycle. However, it doesn't mean that crypto coins have no chance to drop their values massively. We can't deny that bearish season is the time that most crypto coins are declining their values very much. But in each cycle, we have also bullrun season, crypto coins will have the time to skyrocket.

If your purpose is for saving, USDT isn't a bad choice. But if your goal is for investment, USDT isn't the best choice. It is true that Bitcoin and altcoins with high volatility will be the best options.

DWYOR

[Crypto Library]

good financial management when you divide your funds into 3 parts and prepare funds for emergency needs. I also divide my funds into two parts, some for investing in crypto and some for savings in FIAT because sometimes there are emergency needs for my family that I have to fulfill.

I could have divided my funds into two parts if I wanted, but one of the reasons for dividing it into three is that the inflation rate of the fiat currency in the country where I live is relatively high and that is why I am depositing my funds in the Stable coin USDT. Of course, it is also a crypto currency, but I do not invest in any fake coins with it because it is used for my emergency situations. So that it does not have any impact on any of my long-term investments.

[JISAN]

good financial management when you divide your funds into 3 parts and prepare funds for emergency needs. I also divide my funds into two parts, some for investing in crypto and some for savings in FIAT because sometimes there are emergency needs for my family that I have to fulfill.

I could have divided my funds into two parts if I wanted, but one of the reasons for dividing it into three is that the inflation rate of the fiat currency in the country where I live is relatively high and that is why I am depositing my funds in the Stable coin USDT. Of course, it is also a crypto currency, but I do not invest in any fake coins with it because it is used for my emergency situations. So that it does not have any impact on any of my long-term investments.

This is definitely a good plan because the dollar is every country's reserve currency and every country's currency is deflated against the dollar.  So if you keep your money in something that is equivalent to the dollar you will be protected from the effects of inflation.  Stable coins like USDT always carry dollar value so it can save you from inflation.  But at the same time, since it is a cryptocurrency coin, there are risks involved, so depositing your entire money here can be dangerous.  So it would be best to divide your entire fund and invest it in different things like house property, crypto, business , gold etc

[Aanuoluwatofunmi]

If we are a loan shark and want to introduce the use of crypto as one of our payment medium, then it is very good to do that, but if we are on our own, trying to get crypto loan, then its not advisable except for any inevitable emergency conditions, it is what we can take some little time on our own to work and get paid back in crypto and we keep on like that till we stack some sats that can be used for anything we want instead of taking loan.

[Crypto Library]

This is definitely a good plan because the dollar is every country's reserve currency and every country's currency is deflated against the dollar.  So if you keep your money in something that is equivalent to the dollar you will be protected from the effects of inflation.  Stable coins like USDT always carry dollar value so it can save you from inflation.  But at the same time, since it is a cryptocurrency coin, there are risks involved, so depositing your entire money here can be dangerous.  So it would be best to divide your entire fund and invest it in different things like house property, crypto, business , gold etc

Yes as you already know that due to the corruption and mismanagement of the previous government, most of the banks in our country are currently in a bad condition. So I think it is better to keep our fiat money in USDT. I myself am currently facing banking problems. I had deposited money in a bank and they have introduced a rule to withdraw only 80USDT equivalent money more than two days a week because they do not have money in their bank reserves. So in this case my fund will be safe in my wallet more than the banks.

[$crypto$]

If we are a loan shark and want to introduce the use of crypto as one of our payment medium, then it is very good to do that, but if we are on our own, trying to get crypto loan, then its not advisable except for any inevitable emergency conditions, it is what we can take some little time on our own to work and get paid back in crypto and we keep on like that till we stack some sats that can be used for anything we want instead of taking loan.

Even in an emergency, it is advisable to find another way, unless this is the only way that can be done. Before borrowing from other people or on the platform, I think it is better to first borrow from people close to you, such as family.

The reason is that loans on the platform will be accompanied by interest and usually what is burdensome is the interest itself. So think carefully, because I think before this becomes the last option, there are still other options before.