Do you really think it is a good idea to buy crypto with loans? Even if the cryptos rise in value, the people would need to sell pretty fast in order to not get insanely high intrests, so they can't really hodl either.
I hear this all the time people using credit cards to purchase crypto. I have even heard of some people putting a second mortgage on their homes. This is a terrible idea, please only invest what you can afford to loose. Feel free to uplike and follow, I tend to return the favor.
Yeah, that's a terrible idea! This is one of the problems with crypto these days; people still think it is a get-rich-quick scheme, and attitudes like the ones you describe can easily ruin lives :(
Buying something as volatile as Bitcoin or any other crypto with borrowed money sounds like a really bad plan :P
It would explain a lot of the panic selling, though.
Hehe, yeah, maybe that's why people end up with panic selling their crypto..
Or maybe it’s the best plan anyone has ever had.
It’s bound to be one of the two.
Do you really think it is a good idea to buy crypto with loans? Even if the cryptos rise in value, the people would need to sell pretty fast in order to not get insanely high intrests, so they can't really hodl either.
No I’m definitely just kidding lol but if you got a loan at prime time and got 100 percent gains, one could get lucky.
Ah, it makes a lot more sense now that I realize that you were joking ;)
I hear this all the time people using credit cards to purchase crypto. I have even heard of some people putting a second mortgage on their homes. This is a terrible idea, please only invest what you can afford to loose. Feel free to uplike and follow, I tend to return the favor.
Yeah, that's a terrible idea! This is one of the problems with crypto these days; people still think it is a get-rich-quick scheme, and attitudes like the ones you describe can easily ruin lives :(
Well said my friend
My friends are begging me that I am going to invest their money into cryptos :D