Getting a loan to invest in cryptocurrency is a very wrong move especially because of its volatile nature and just as the first user commented on Your post asking if you can really pay off your loan if your plans don’t go as expected or you’ll be tied down?
Loans aren’t a great idea and I’m saying this from a personal experience and most times I wish I’m not in debts and I’m telling you that, getting a loan to invest in bitcoin with hopes of making massive profits even enough to pay off the interest and the actual loan is insane and you shouldn’t even give it a shot of you want to stay free from debts.
You're right. It is not the right choice to get a loan because there is no guarantee for profits. Using loan money can increase the pressure on the crypto investment, it is because there should be the deadline time for the repayment. Meanwhile, crypto prices are unpredictable, it can change at any time. How if there is no further increase or pump? It will be very bad if we must repay the loan money when the market is in downtrend. I'm sure we probably become stressed if we experience this situation. And this situation may lead us to get another loan.
Finally, we will be always in loan trap because we have no ability to manage our financial properly.