LOAN THREAD

Is anyone considering taking out a loan or the equivalent to get in to crypto in a big way?

Please tell me your plan and goal.

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I'd take out a loan but its hard to get credit these days so the only loans you can get have huge APR%

I took out a 20k lending club loan and market bought BTC at 7600. Put a little of it in IOTA AND XMR

Not feeling bad about it at all. I felt like that little run up from 7k was the start of the bull run and I was wrong, but I bought with credit card at 3-4k and paid off my credit card when I cashed out at $18,300.

20k might not seem like a lot but it is when you're gambling with a speculative asset.

Take out a loan to get into crypto.
Hoooly shit that's stupid XD

Depends the level of risk you're willing to to take on.

If I expect crypto to perform gain more than 6.34 percent on average per year for the next 5 years, and could make monthly payments on the loan without breaking a sweat even if crypto went to 0 it's not such a bad idea. Depends on you're risk tolerance.

You've probably been poor your entire life and don't realize that there are different levels of risk tolerance in taking out loans and investing. for example, student loans are so cheap, you'll almost guarantee yourself ROI for taking out gov student loans and tossing them in an index fund.

Higher risk, higher reward. I'm young. A 20k loan for 3 BTC that could be worth $500k-1M each one day is a risk I can afford at my age.

would you take out a loan to gamble with pennystocks?
would you take out a loan to go to the casino?
only complete retards would do such things

See my above comment. You are the retard.

Sure did! Bought 5k worth of Nano.... on Bitgrail

Interest free till September though

>taking out a loan
>ever a good idea

>A 20k loan for 3 BTC that could be worth $500k-1M each one day is a risk I can afford at my age.
kek

i've seen your comment
it boils down to
>I'm young.

>If I expect crypto
kek

>could make monthly payments on the loan without breaking a sweat even if crypto went to 0
then you don't need a loan, kek

>Begin to DCA in
>price rockets
>holding small amount of coins
>dont make as much as you could have
/
>bear market for 2 years
>pay off loan
>little bit worse of due to interest
>Still got them shitcoins

/
>99% of shitcoins go to near zero with zero volume
/
>go to the casino
>all in on red
>win
>i'm such a genius investor, wagekeks btfo

>risk it all in an emerging financially focused tech industry
>or stay poor
not hard a choice
OP
>get loan
>buy eth
>mkr dai cpd
>pay off loan
>good credit guy
>risking imaginary shitcoins now

I've been toying with the idea of taking a loan out but sure as fuck not for crypto. It'll go into shares of an apartment building

I don't have 20k in the bank and want 3 BTC, so I took out a loan and bought 3 BTC for 20k. Principle plus interest in 3 years is 24.5k or something like that. If 3 BTC is worth more than 24.5k in 3 years, which it will be, I was successful.

I just use MakerDAO personally - leverage my Eth and use it as collateral to buy up other holds. Pay down the original principal as I take profits. Comfy as fuck.

>taking out a loan for a high risk investment
>breaking rule #1 for investing
Jow Forums everyone.

made my best friend who is a wagecuck loan 50k and give it to me so i can put it in crypto. now waiting for a considerable dump to enter the market (even if its from 9k to 7k for example).

Ok wagie. Spend the rest of your life cucking and maybe you'll have $5000 in your savings account and your mortgage halfway paid off one day

This is the stupidest idea ever. Don’t do it.

Yes I did this in 2016

Ended up ove 70x my initial investment in crypto

Also, I wasnt going to pay it back anyway because fuck jews, but i made so much i thought i might as well

I’m shorting on creditcard

i took a 500 BTC loan and marketsold it all a week ago, only need to pay back 1 year from now so ill be fine