What do you think of taking loan to invest in crypto? What's your input? Have any of you done this already? Isn't this crazy?
I can’t understand why people taking loan to invest in crypto.There are so many low cost NFT project(
https://t.me/emit_protocol), if you haven’t money, you can select some NFT project to spend your time not money for it.If you do not have the ability to analyze the market and trading skills,you can’t win just by gambling or guessing.The more money you put in,more you will lose.
It's too risky. I also say this is a crazy idea, no matter how much you understand cryptocurrency, if the first step is to invest from borrowed money, life will not be calm. In analyzing market movements, we cannot guarantee 100% accuracy. Those who have long experience in crypto have also failed many times, so especially to take out a loan, this will bring big problems for finances. I was never sure about this step.
Others are doing this to increase their capital and will yield bigger profits of course but this crypto market has always its uncertain moves of the coins and what you might expect will never happen in the long run. Taking loans is a big decision and if things won't work for you investing in crypto then you will definitely feel all the pressures thinking how to repay your loan.