Quote from: Oasisman on Today at 09:05:08 PM

Quote from: cryp24x on Today at 04:51:45 PM

Quote from: Accardo on August 23, 2021, 03:41:34 PM

~snip~

Well, its your choice anyway if you want to borrow money for the sake that your gonna use it to buy Bitcoin then hold for the long term.
I don't see any problem with that if you have a good vision about it. But if your not deeply knowledgeable about in Bitcoin, I suggest borrowing money for this is not a good financial advice in my own opinion only.

Im quite sure the OP had enough knowledge about Bitcoin since he knew how much Bitcoin have been increasing from a few months ago. Also, when you're investing your due diligence is the most important step before putting away your money.
Borrowing money to invest in a highly volatile asset isn't always advisable and is not a good financial advice as it will contradict the most basic rule of investment "invest what you can afford to lose."
However, there are some exemption from people who are willing to take the biggest financial risk in their lives.
Now, I don't really recommend to have a loan just to invest in Bitcoin, but If you're eager to buy in bulk, just make sure you're making enough money to pay for your loan's term.

Another option would be, to accumulate gradually, fraction by fraction everytime you make money instead of using that money to pay for the loan. In this method you will be able to save yourself from interest fees and possible charges in case you missed your due.

That's right, it's really not recommended to invest in Bitcoin using borrowed money. with the volatile Bitcoin price, it becomes very high risk if
we force borrow money to be able to buy Bitcoin in large quantities. I prefer to buy Bitcoin regularly every month, use the money that we will
use to pay the loan installments to buy Bitcoin. This method is much safer and more effective in my opinion, and we benefit more from not having
to pay interest on the loan. But in the end it comes back to each of us, if indeed there are people who dare to take risks and are ready to bear
all the risks that will occur. Just try investing in Bitcoin with borrowed money, but don't blame Bitcoin if you end up having financial problems
if it turns out that Bitcoin doesn't move as expected.