Quote from: bangjoe on Today at 09:46:01 PM

Quote from: mulia sabee on March 25, 2023, 03:49:52 PM

Quote from: Phyna4 on January 22, 2023, 12:40:00 PM

"Can I take a loan to invest in bitcoin" this question was asked by a friend

My reply to her is this:
It is generally not advisable to take out a loan to purchase Bitcoin or any other cryptocurrency. Cryptocurrency markets are highly volatile and the value of a particular coin can fluctuate greatly in a short period of time. This means that the value of the coin you purchase with a loan could drop, making it difficult to repay the loan. It is important to do your own research and make sure you understand the risks before investing in any financial product, including Bitcoin.

What is your advice?

of course the advice you convey is very good for him to be able to change his plans. I am the same as you, I would ban someone who tries to invest in crypto if he has to take out a loan or get into debt. because bad things will always happen to someone who doesn't know and can't read market movements, what someone needs to know is that investment in crypto has a risk that is more vulnerable

I think without having to borrow if you talk about risk, the same thing will happen even if you use personal money, but the problem here is that when the money invested is borrowed money, who gives the loan and when to pay it back, we all here believe that bitcoin is always repeating the same cycle with a gap of four years from ATH to his new ATH, Well who dares to lend money for that long and without having painful interest.
I think I will take the offer if there is one. lol

Not only you @bangjoe but I also want a loan that doesn't pay interest for that long like you said.
Of course, I don't think there can be a loan that doesn't charge suffocating interest, I think all loans are like that. Unless we borrow from our parents maybe there won't be any suffocating interest. lol.
I don't know, I also think the same as you and can't say a word if there are people who still think and ask whether investing in crypto with borrowed money is a good thing to do.
Or some suggest taking a big risk by taking out a loan. If when it's time to return the loan it turns out that crypto is under then it is likely that he will be in debt to cover the loan, if it is not paid I am sure that his goods or property will be confiscated.
I don't know, I can't imagine if life isn't calm thinking about repaying a loan or being chased by debt like that.
Your'e right, investing in crypto with personal money that we have alone can be at risk of loss, especially when we invest with borrowed money that has a grace period to return, it will really make us dizzy.
If crypto is an investment asset that has a slight decline and always increases high every day maybe it is profitable to make loans, but the fact is not like that.