Don’t take out a loan to buy cryptocurrency, it’s stupid.

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Seen a post saying a guy took out a loan to buy crypto because it seemed a good deal right now. It is a good price if you have your own money to invest, borrowing money from a bank to invest in crypto even if it’s low APR% it’s not advisable and you shouldn’t do it. Losing your own money might sound bad, but imagine you’ve lost borrowed money, which you’ll have to pay back eventually. A simple quote that everybody heard a dozen times; don’t invest what you can’t afford to lose. Seems to me people still don’t get the principle of it.

You can play around with your own money, nobody gives a f, if you lose it. Playing with borrowed money, not so much, it can f**k up your life in a variety of ways. You’ll owe more money in penalties, interest charges will get higher and your credit score will fall as well, not to mention mental problems that could come along the way.

With that being said, if you took a loan to invest in crypto, I wish you the best, also we’re looking forward to seeing your results, and I hope everything turns out well for you.

submitted by /u/frellies1
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