I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
Consider these things first;
1. Can you repay the loan?
2. Dont depend on crypto earnings on repaying a loan
3. Can you accept the interest and pay it on time?
4. Dont anticipate that you would be gaining money with the market or some sort of assurance.
Regarding about the question if its worth then it does depend on circumstances.