Michael Saylor Bitcoin business Adoption Investments Michael Saylor Bitcoin

Borrowing to buy Bitcoin: Is it ever worth the risk?

Reading now: 500
cointelegraph.com

The cryptocurrency space is expected to reach 1 billion users in 2030. While some have been known to make a fortune off of it, others have ruined their finances, chasing similar results, going as far as getting credit to buy crypto by putting up valuable assets, including their homes, as collateral.Borrowing to invest can make sense under very specific conditions, but using a home equity loan is also extremely risky.

For example, it means that an investor’s home is being put up as collateral on loan.Cryptocurrencies have, in the past, delivered spectacular results to investors, but also saw them go through long drawn-out bear market periods in which many lost hope and sold at a loss, with those who managed to hodl on reaping the biggest rewards.

Read more on cointelegraph.com
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA