I decided yesterday morning that I would buy 1 bitcoin from this dip market. But I did not have enough money. With which I can buy 1 bitcoin. I had an Fixt Deposit of $ 6,000 in the central bank. And the bank would paying interest at the rate of 5.5% APR. I broke it down yesterday and decided to buy Bitcoin with that money. But with this money I will not be able to buy 1 bitcoin. On the other hand, my dream and desire is to buy 1 bitcoin. I then decided to take a loan and applied to the bank for a loan. But I told the bank that I would use this money for business. The bank agreed to give me a loan of $10,000 at 10% APR interest. I take advantage of that opportunity and take out a loan. And the remaining $ 4,000 I borrowed from my uncle and promised to pay him 8% APR interest, which is more then bank interest. Finally i bought just now 1 BTC price at $20,000. It gives me a different feeling That feeling I have never had before. I think if I hold this bitcoin for 2 years I can get 100% -500% profit. Then I will be able to easily repay my debtors with an average interest of 18-19% in 2 years as an average of 9.something% APR and I will be able to keep a huge profit.
If investing in Bitcoin could tempt you to acquire loan for the sake of investing well definitely it is not a good idea. What if after you invest in bitcoin your investment fall really really hard, there is no assurance that your investment can regain in 2 long years. It is good to compute how much the returns on your investment will be, but how realistic it is? Everyone is dreaming of investing in bitcoin but make sure that you have enough funds to invest. As we all know in crypto currency we should always bear in our minds that we should only invest what we can afford to loose. Never ever invest if you will just loan the funds, you might end up loosing. I had already heard a lot of stories borrowing from the banks and cannot even pay the loan plus the interest and the interest continue to grow with surcharge additional.