Quote from: Egii Nna on Today at 06:45:59 AM

Quote from: YUriy1991 on Today at 04:32:58 AM

Quote from: Egii Nna on September 22, 2024, 08:49:40 PM

I know a lot of people tend to view trading not in the appropriate way because I see no reason why you will go and take a loan just for the sake of trading altcoin. It is not encouraging at all because why will you borrow money based on a probability that you are not sure you will succeed? There is no point in that. because most of the time those that usually take such decisions to borrow money in order to trade are those that have less knowledge on it because if really you have a lot of knowledge about trading aspects, you will also know that it is very wrong for you to borrow money just to trade because it is very risky and can also lead to a great regret.

Ambition is allowed, but must be good at navigation. If not, the risk of default is in sight. Temporary loans are considered quite good to do, especially if the potential coin is dropping in price, but every request we have submitted, of course, has a repayment deadline too.

If the repayment deadline can be worked around with the lender, I think it's okay to wait for the market price to rise again if not, only disputes will occur.

That is where the problem of the loan will definitely start from because you, as a lender, can’t give a loan and wait for the borrower to get profit in the market before he/she can pay you back your money. You need to maintain the agreement that you made to collect your money that you lend out in time.

So I don’t think you will like to take it easy on someone that borrowed money to trade alt coins and ended up losing. Then you will try to give him more time so that he will be able to pay you back some of these alt coins if they dump; they hardly rise again, so what did you expect from that? You, as a lender. To me, I don’t think it is even a nice idea to take a loan just for the sake of trading alt coins.

You are totally right.
And lenders can be not so kind afterward. It's risky and should be considered the final-straw option, in my opinion.