This issue of taking loan to invest in Bitcoin has really been discussed several times and to me i found a fair justification and consideration in most of the discussions which implies that if the demands, terms and conditions of repaying the loan can be handle outside of our Bitcoin investment which should be first determined by our general and personal circumstances and in view of time and seasons for a proper evaluation before taking such decision, if all this has been carried and confirmed to be ok then taken a loan to invest Bitcoin shouldn't be a problem for me, because am already aware of the risk and precautions has been taken prior to time.
This is only good if you are buying Bitcoin when the price is on the floor or experienced correction since you can guarantee that the price will recover immediately to gain profit that can cover you loan interest.
This is even the worst approach, and thinking like this are the main reasons why taking a loan to buy bitcoin is discouraged. Mind you every discussion here is aimed towards long term investment. You are sounding as if you are aware when the recovery is going to happen. What if it's a prolonged dip that is going to last longer than you anticipated and your loan repayment is due and the market keeps dropping? Won't you be in trouble by then? We ain't talking about trading here or selling your bitcoin to pay off loans. Taking loan for the sole purpose of trading is bad it's discouraged.
However, if you are loaning money for the sake of long term investment then it’s useless to pay a loan interest while you can just slowly DCA using your salary every month knowing that you can pay your loan outside your Bitcoin investment. You are just taking unnecessary interest while you are just waiting long term for your investment to grow.
Much better to accumulate slowly using the money that you don’t have any other allocation. Loan will just give you pressure for your investment.
It is not useless, provided you are working and you have job security, of which you can be paying off the loan on installments on monthly or weekly basis, depending on the structure which your salary comes and the agreement you have with your creditors. The essence of if, is to make bulk purchase. It doesn't stop you from doing your DCA if you have more disposable income at the end of the day. Since you won't be using all your salary for repayment of the loan. It's only a percentage of it that will be deducted from source for your loan repayment. There are flexible and soft loans that you can take and you won't even feel it. Just make sure you have a source of income and know if the security of your sources is well guaranteed.