Post
Topic
Board Bitcoin Discussion
Re: Loan to buy Bitcoin?
by
shamimal93
on 30/10/2020, 17:47:27 UTC
I'm buying ~500$ in Bitcoin every month with part of my salary. I have a stable job and my company is doing good. I'm wondering if it worth to take 20.000$ to buy 2 BTC now and pay the 500$ as loan installment instead of buying sats every month. I believe in the potential of Bitcoin to reach 50k in a couple years, but it wouldn't be possible to buy near half of BTC at the 500$ rate, so this would be something like an "advance". Hypothetically (but still possible in some probability), if BTC collapses and never recover from 8k, I would still be paying this loan for about 3 years but wouldn't starve or something like that, it would just sux for a while, since I still have another source of income. I know it's not the place to ask I will do whatever I think it's best, but if you were in my position, would you do it?
I have never been in favor of buying bitcoin on credit.  And I wouldn't advise anyone to make such a decision.  This decision can be very suicidal.  The price of Bitcoin is never fixed.  I don't understand why you want to make a decision to buy Bitcoin with a loan.  If you have extra money, buy Bitcoin with that little money.  However, it is a small investment.  However, do not buy bitcoins on loan.  I don't think it will bring good results for you.