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    Author Topic: Have you ever borrowed fiat to get btc?  (Read 1780 times)

    • WaveMellow
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    February 19, 2018, 07:14:10 PM
     #281
    Though i am bitcoiner but never did such. I invested with surplus amount i had in bank but suffered a loss. I thanked God that i didnt borrowed fiat.

  • missyqt29
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    February 19, 2018, 07:44:51 PM
     #282
    Quote from: A.Delaney on January 06, 2018, 03:36:09 AM
    Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

    Borrowing money for capital can be inconvenient to me if I ever invest or use it to mine. It is because it can be hard to earn it back and still pay for it. It might be more practical to use your own financial resources first before considering loaning from other people. At least here, you wouldn't have to pay up and you own all of your earning.

  • cryptosluck
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    February 19, 2018, 07:45:37 PM
     #283
    most of them have borrowed fiat to buy bitcoin and this is best way to earn good internet better than banks and real estate and shares investment

  • bapetdik
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    February 19, 2018, 07:51:12 PM
     #284
    Quote from: A.Delaney on January 06, 2018, 03:36:09 AM
    Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

    I never borrow fiat to get bitcoin. I do not like borrowing or anything. If you do not have me have to try hard to have without borrowing to anyone. I am afraid I can not return what I have borrowed. So I do not do that to get bitcoin because for me it's risky. You should not borrow to anyone.

  • allthebitandbobs
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    February 19, 2018, 07:52:29 PM
     #285
    borrowing is never a good idea .To much pressure and stress for that

  • WannaCry
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    February 19, 2018, 08:41:19 PM
     #286
    Quote from: A.Delaney on January 06, 2018, 03:36:09 AM
    Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.


    No, I didn't even borrowed anything just to invest or get btc. I believe that investing would take time. It is risky so I don't want to borrow because it might take too long for me to pay that debt. Bitcoin is also volatile and it's value is unpredictable, I won't borrow but I'll use my own earnings instead. If we want something then we must work for it.

  • queenlaurel
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    February 19, 2018, 08:54:55 PM
     #287
    No I haven't and I dont think its a good idea.  Borrowing fiat to buy bitcoin is not a good idea in the sense that you are not so sure you get the coin back to pay up. Bitcoin rises or drops dont know why you would want to borrow and put yourself in debt. Why not wait until price is down and you can pay for it, then enjoy your bitcoin alone!
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  • Nkan25
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    February 19, 2018, 09:10:50 PM
     #288
    I've done it with mix results. In good times, I'm making good profit. However, during the dips it makes you nervous and forces you to real stick with your strategy. My advice would be not to do it and just earn crypto through bounties, where you can trade for the coin you really believe in.

  • besduyu
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    February 19, 2018, 09:12:58 PM
     #289
    Borrowing fiat means, taking risk to take risk, so i do not recommend.

  • GaboSt
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    February 19, 2018, 09:45:16 PM
     #290
    no, I never would do this. borrowing fiat is no option for me

  • allycn
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    February 19, 2018, 09:50:09 PM
     #291
    No. I wouldn't. The best policy is "never invest more than you can afford to lose". Although we tend to borrow money for other types of investments (such as real estate), crypto is too volatile to risk it. If you don't have the money, then don't do it.

  • hieuho381
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    February 19, 2018, 10:01:29 PM
     #292
    Quote from: allycn on February 19, 2018, 09:50:09 PM
    No. I wouldn't. The best policy is "never invest more than you can afford to lose". Although we tend to borrow money for other types of investments (such as real estate), crypto is too volatile to risk it. If you don't have the money, then don't do it.
    I also agree with you. Cryptocurrency market too much volatility, just you do not keep up with the market you can lose everything. So borrowing to invest in this market is extremely risky. I think invest in the amount of savings you get and if it's lost it will not affect too much of your life.

  • Bowly88
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    February 19, 2018, 10:44:26 PM
     #293
    Quote from: A.Delaney on January 06, 2018, 03:36:09 AM
    Whether it be buying btc or buying equipment to mine btc. Did you ever borrow fiat to make your purchase? I have not. Just curious if anyone ever has.

    Me persona not and i am not even planning on borrowing money in just to buy anything because i have money not that much but i don't really want to owr someone especially in terms of financial situation. I would rather to wsit for several months or even years and save money in order to buy those things that i wanted to buy. Because owing money is kinda not good especially if you committed a date to pay them but you can't thatbis being disrespectful. But i know some friends that borrowing money just to invest.

  • daarul50
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    February 19, 2018, 10:57:12 PM
     #294
    I never borrow a fiat to buy bitcoin because it's too risky if we borrow fiat to use it in various crypto investments whose movements are very difficult to predict. Besides, I never want to borrow because I do not want to have a debt to anyone or any party because it will also harm us when it can not repay the loan we have done. I think to invest in crypto better using savings instead of having to borrow fiat.

  • Semar Mesem
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    February 19, 2018, 11:10:14 PM
     #295
    Never, I realize that bitcoin investment is so risky that I only use about 40% of my monthly salary to buy bitcoin, and I'm happy because the price since I first bought it was about a year ago and I get a lot of profit compared to other investments or saving in banks.
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  • LindsayWWW
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    February 20, 2018, 12:04:57 AM
     #296
    No never did such insane works, instead tried to mine it and join the bounty programmes and put effort physically to set up mine near a hydroelectric power plant...

  • setialovers
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    February 20, 2018, 12:09:38 AM
     #297
    Quote from: queenlaurel on February 19, 2018, 08:54:55 PM
    No I haven't and I dont think its a good idea.  Borrowing fiat to buy bitcoin is not a good idea in the sense that you are not so sure you get the coin back to pay up. Bitcoin rises or drops dont know why you would want to borrow and put yourself in debt. Why not wait until price is down and you can pay for it, then enjoy your bitcoin alone!

    Yes, its should never do that. Borrowing money to invest bitcoin is very risky. Its not because bitcoin but its because bitcoin have high volatile and I am believe that bitcoin is long term investment.

  • mornabo
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    February 20, 2018, 12:26:47 AM
    Last edit: February 20, 2018, 12:47:22 AM by mornabo
     #298
    Quote from: Dico88 on February 18, 2018, 09:34:15 PM
    For me I did not borrow a fiat to get bitcoin and I never did. The market is too volatile to do such a thing. At the moment you may benefit and an hour later all your portfolios may be red, and it may take some time before recovering. The next time you will not be able to repay your debt and interest will always increase every day. Cool
    Thats true, is actually quite risky with borrowing money just to make trades, moreover there is a grace period or deadline for payment, so you are required to make a profit within a certain period of time right ? but not every time the price will continue to rise and benefit to you? better use your personal funds because you will be more free not dependent on time to trade

  • Jet Kolet
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    February 20, 2018, 12:37:29 AM
     #299
    Quote from: PricelessBing on February 18, 2018, 07:33:36 PM
    Yes i did two times and for god sake made a profit of 15% over the borrowed Fiat on which loan interest was 4.3% and the rest was my profit.
    is indeed a huge investment advantage in bitcoin. hopefully, you start investing with a large amount. good luck with bitcoin.
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    February 20, 2018, 04:12:15 AM
     #300
    if you have a strong prediction that bitcoin will surely raising in the future,
    borrowing fiat money is not a bad decision to invest. you can pay later with your profit.
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