Post
Topic
Board Economics
Re: Can I take a loan to invest in bitcoin?
by
bayu7adi
on 23/05/2023, 04:44:11 UTC
Alternatively, one can utilize funds that are freed from the necessities of daily living. If your savings are designated for everyday expenses, it is also not recommended.
That's also a possible thing, you can use spare funds instead of using borrowed money into investing. But as much as possible, you have to avoid getting a loan if the main purpose of it will be for buying bitcoin. If you can't keep up with daily expenses and your salary is just enough to your needs but you insist and you want to do something then you should increase the flow of your source of income.

However, it is even worse to use borrowed money for speculation. Taking double risks is not a wise course of action.
Interest and speculation, really not a good factors to be combined if you don't have that much money to play with a volatile market and unwilling to take on the interest payments.

You responded to my statement, but you swallowed your own words.

In the emphasized part of your statement, it indicates a situation where someone desires additional cash income but struggles to meet their living expenses. This means that the available funds they have are not plentiful, as their living costs match their received salary.

There is no need for you to refute it because in the second sentence, you mention that investing in a volatile market requires a significant amount of money.

This actually confirms that my statement is true. It is highly discouraged to invest in Bitcoin using borrowed money or savings intended for food shopping.