Post
Topic
Board Speculation
Merits 3 from 2 users
Re: Buy every dip!
by
Barikui1
on 02/04/2025, 06:16:16 UTC
⭐ Merited by Y3shot (2) ,JayJuanGee (1)
It is not adviceable to use a line to invest in Bitcoin because it will definitely affect your purchase of Bitcoin and the loan can force you to sell your Bitcoin when you are not determined to do so, and so you now go back to zero level,since loan comes with interest rate, how do you pay it off, what about the collaterals for the loan aside from the interest rate, how well will it be met with the time frame, it is better you have an alternative source of income to add to your salary and start building your portfolio,that is why it is adviceable as a new investor in Bitcoin, you start with the DCA strategy which will help you buy Bitcoin little by little buying and HODLing it for a long-term.
If you are planning to invest in bitcoin, I don’t recommend you take loan or sell your property just because you want to invest in bitcoin, you should invest with your own money, and it shouldn’t be with everything you are having, you should make sure some money is left as reserve.

It all depends on the type of loan that is being offered, if it's a loan with low interest were you pay back bit by bit, and it's spread for a longer duration then it's quite ok, but if it's a loan with one time payment when paying back, it's a big mistake that should be avoided.


Quote
When we are holding bitcoin, our plan for bitcoin should be a long term investment, nobody knows when bitcoin is going to pump or dump, if we end up taking loan to buy bitcoin, and it’s start dumping, how will you be able to pay back your loan? So if you don’t have any other sources of income to pay for the loan, then avoid loan to invest in bitcoin.
Why would you invest in Bitcoin when you have no source of income in the first place?
For you to be able to invest in Bitcoin consistently, you must have a source of income paying your bills and the decretionary income left can be used to invest in Bitcoin, but if you have no source of income then you invest in Bitcoin just because a few box got into your hands, it's just a matter of time before you withdraw your Bitcoin, sell it and use the money to take care of your financial needs, so having a source of income is a must, in other to be successful as a Bitcoin investor.

That is why when a loan offer comes in, the first thing that gets to your head as a sane investor is how can the money be payed back from your salary or wages, not from your holdings, if the money can debited bit by bit from your salary and the interest is low, bro it is a loan that should be properly utilized, because opportunities like that doesn't comes handy like that nowadays.