Crypto Can I borrow money to trade cryptocurrency?

[kayode10]

Cryptocurrency trading is one of the profitable ways to make income online. there are some people in dedicated their time to make full-time income from cryptocurrency trading.

Everybody has their own strategy which they are applying to make passive income from cryptocurrency trading. The beginner can also make money from cryptocurrency trading when they follow a proven plan.

One of the ways in which a beginner can make money from cryptocurrency trading is to invest with an expat and share profit accordingly.

The best strategy to make money from cryptocurrency trading is to buy except low and sell high.

Most of the cryptocurrency are on their low price at present. So I want to ask that can I borrow money in order to trade cryptocurrency?

 

[btaliat]

I have seen some people borrowing to trade in cryptocurrency. I don't support this idea. Truly, if one is an expert on trading, there may be need to borrow money to trade especially if he doesn't have money but crypto is also volatile. And no one can truly said what may happen.

 

[kayode10]

Borrow money to trade cryptocurrency is very risky. It can be very hard to repay back my money if it happens that you lose in the trade. Some cryptocurrency trading experts don't have hundred percent guarantee that they are going to make money from the trading they place in cryptocurrency Market place. Better still, you can hustle around to raise capital for cryptocurrency trading.

 

[Peppul]

Trading crypto currency is a great thing to invest in, but I wouldn't advice one to go extra mile and borrow just because you want to trade, because borrowing to trade is not a good idea because so many things can go wrong, like loosing your borrowed money while trading and you won't feel good about it and it might definitely affect your health. So the best thing to do is to save money and when you have enough to trade please do so.

 

[Sotherefore]

Yes it is possible for you to borrow money to trade cryptocurrency but first of all you need to understand the potential risks that is involved in cryptocurrency trading. Since the market is extremely volatile it is possible that you may even lose the money you are borrowed and you should also have a backup arrangement of how you can be able to pay this money back if you are not able to make it.

 

[Jonaville]

I'm pretty sure you yourself already knows the answer to this question you just asked. Borrowing money to trade crypto currency is like receiving a piece of paper to write out exactly how you want to die. Please run from borrowing, that is if you value yourself and your peace of mind.

 

[Chibson]

Well it is quite possible for you to borrow money to trade cryptocurrency but it is not really advisable. I don't always advise people to borrow money in order to venture into anything. cryptocurrency trading is quite risky and at the same time if you do not have proper knowledge and mindset you will never make money from it

 

[Good luck]

I do not think it is advisable to borrow money to trade crypto business because if the business crash there may be problem in paying back the money borrowed.it may even lead to fight between the two parties.crpto business is very risky so it is better one do such investment with one Bitcoin than sorting for money from Bank or individual.

 

[minenovo]

One can borrow money for many reasons, including trading. However, that does not necessarily mean that one should do so. Personally, I don't recommend trading with somebody else's money.

 

[Carson20t]

Instead of borrowing the money you could try to rise that money through various avenues like working on forums,promoting affiliate products,working on ptc sites.Might be a little challenging and tough but it will still not enter you in any debts.

Unlike going into forex trading with already money that is accompanied with a condition.It is not a good idea to borrow money for forex trading.

 

[kayode10]

You are putting yourself and the person that lend you money at great risk. We assume that you have basic knowledge of what you are doing. but that does not guarantee enough to make money with cryptocurrency trading. Cryptocurrency trading is highly volatile so I will not advise you to invest someone else money to trade.

 

[Jasmine]

Just like share market and forex market, crypto currency market also has a risk factor but if you have knowledge, you can easily minimize the risk and earn profits. The only problem I see with burrowing money for crypto trading is what if the market is on bearish run for too long.

 

[btaliat]

From the arguments of the contributors, it is believed that borrowing money for crypto trading is not advisable. Not that it is not good but it is not advisable because no one can predict the crypto market. Most traders almost lost their money during the recent bearish that just finished around September

 

[Sotherefore]

From the arguments of the contributors, it is believed that borrowing money for crypto trading is not advisable. Not that it is not good but it is not advisable because no one can predict the crypto market. Most traders almost lost their money during the recent bearish that just finished around September

It will even be difficult if the person that is borrowing money to trade cryptocurrency do not have a good understanding of how to predict a volatile market. That is just a death zone and there is 80% possibility that you will lose all the money you have used in trading especially if you want to go into future trading as I know about cryptocurrencies.

 

[Wisdom01]

That is very risky it's never adviceable to try that , unless you are willing to lose more money , because the fear of trading would actually make you lose more money that I why it's best for you to learn very well before investing and use the money you can afford to lose