Post
Topic
Board Speculation
Re: Taking a loan to buy bitcoin
by
skorupi17
on 25/07/2017, 06:34:52 UTC
I'm thinking of getting a loan to buy more bitcoin, as I'm guessing we'll reach $10K in a few months it can be a good deal to lend at a bank against 5% anual rate

Did anyone do this before? Would like some experience advice

It is still best to invest money in Bitcoin which you can afford to lose. By loaning some money just to buy more bitcoin is very risky. If the price crashed for some reason and stayed there for a long time then you got a lot more problem. You'll have to pay for the loan and then gets very disappointed on bitcoin. However, if your speculation is true, then you are a lucky guy.

If you can take the chances then go on. No one has the right to stop your decisions.