You are viewing a single comment's thread from:
RE: just applied for a personal loan for investing in steemit
Okay too late for @bhightech I guess, but I'd like to warn whoever is reading this, never do this! never take a lown to fund an investment in crypto or shares or anything of the sort
Lowns should be taken only in one of two cases: Either as mortage or some other downpayments arrangement when you have no other choice, or as a leverage for opening a buisness. In any other case, they are just a guarenteed loss.
I agree with some of your points..But how come you say itt is a guarenteed loss if you take loan for crypto..
Not just for crypto, but for any investment with a speculative nature. And the reason is that no matter what, you have to pay back the lown and intrest at a certain time, and at that given time, you have to sell your investment no matter what.
I would urge you to read my post again...I dont have to seel the investment..My steem power will be intact which i brought from the loaned amount and it will be intact..What ill earn by using 50% of my upvotes is enough to payback the emi..So my steem power will not be touched plus i would get some extra sbd and sp after paying my emi..And according to the calculation to break even steem price would have to fall half its price that is o.8 usd..