Quote from: LastKiss on Today at 02:48:38 AM

Quote from: Okereke on December 24, 2022, 08:49:05 AM

It is true that some people have become rich through crypto trading in the recent times. But considering the high risk involved in trading, do you think it's proper/wise to trade with borrowed funds as your capital irrespective of your trading experience?

Absolutely no, never borrow money from a bank or even your friends to use it for trading. It's really risky and very volatile, maybe you can see 5% gains today but there's always a risk to see a 20% dump next month. In my life, I never borrow any money from my friends or even other lenders to use it for trading or even investing since we can't guarantee our winning.

I experience this once in my real business though it is not trading or some online transactions yet I borrowed in Lending to use in my food business but as it progress? the business did not materialize and this leaves me having a debit increasing its percentage each week and it took me at least almost a year to pay off, since then? never that i borrowed any amount for investment but I only borrow for emergency purposed amounting that i can pay back sooner.