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❓ASK Need loan for trading

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AlanSmash28

AlanSmash28

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Hi, I need some advice. I want to trade a little in the cryptocurrency market, but I do not have enough own funds to enter the auction. How can this issue be resolved?
 
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i don't advice you to take loans to engage into something that has lot of risk such as trading, you might not be able to refund what you borrowed and find issues with people
 
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Taking a loan in order to engage in cryptocurrency trading is not advisable at all. Crypto trading involves so many risks, you may end up loosing the money and having nothing to pay back with.
 
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a_jerobon said:
Taking a loan in order to engage in cryptocurrency trading is not advisable at all. Crypto trading involves so many risks, you may end up loosing the money and having nothing to pay back with.
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Loan is a good source where anybody can take to improve the quality of his business if you want to take loan then its better you go for some places that can offer you the loan without much interest rate but ensure you pay back the loan on time without any problem to avoid future conflict
 
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tray59 said:
Loan is a good source where anybody can take to improve the quality of his business if you want to take loan then its better you go for some places that can offer you the loan without much interest rate but ensure you pay back the loan on time without any problem to avoid future conflict
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I can't disagree, a loan can be a very good source of capital in business. However, when you are taking it for something that involves high risks, it may end up being a burden if the risks lead to a loss in the business.
 
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Why not asking your friends. Persuade them
If you have skill in trading then you should try persuade your friends to lend you some money and share some percentase of profit and off course you have to tell them the risk..
I have try this and my friends lend me some..
 
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Try opting out for loan on perfect money if you have a verified account of it as you can get easy and fast credit from there and also the terms are good.
 
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I would suggest you to wait and make some money before getting into trading or investing. Taking loans for such purpose isn't really a great idea, actually you can also call it bizzare. You can end up loosing money in this and it will only attract more problems only.
 
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Manish200 said:
I would suggest you to wait and make some money before getting into trading or investing. Taking loans for such purpose isn't really a great idea, actually you can also call it bizzare. You can end up loosing money in this and it will only attract more problems only.
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Its better for you to do that you make the money yourself then proceed with the trading because sometime when you loan money to to trade what you see is loss and you could end up in loss,its better for you to make the money yourself before you start trading,loan is for business and many organization that offer loan do that for business purpose and dont expect to get a loan if your business is online for majority of loan and financial institution that give loan.
 
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Ofonime said:
Its better for you to do that you make the money yourself then proceed with the trading because sometime when you loan money to to trade what you see is loss and you could end up in loss,its better for you to make the money yourself before you start trading,loan is for business and many organization that offer loan do that for business purpose and dont expect to get a loan if your business is online for majority of loan and financial institution that give loan.
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You are right and I also made the same point here to not risk it with loans because if you end up loosing money which trading, you won't be able to pay the loan back and will be stuck in a debt that you will have no clue how to pay. Its very simple. Investments must only be done with the savings.
 
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Manish200 said:
You are right and I also made the same point here to not risk it with loans because if you end up loosing money which trading, you won't be able to pay the loan back and will be stuck in a debt that you will have no clue how to pay. Its very simple. Investments must only be done with the savings.
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Yeah mate, it's always better to be debt free instead of trading on other's money, as once you lose that money, you may suffer from high depression.
 
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shrey1408 said:
Yeah mate, it's always better to be debt free instead of trading on other's money, as once you lose that money, you may suffer from high depression.
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Absolutely true, it's better to make money from some risk free source like jobs and than invest systematically in whichever assets you may think will be more profitable. It surely looks slow but it's will be beneficial for the long term.
 
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Manish200 said:
Absolutely true, it's better to make money from some risk free source like jobs and than invest systematically in whichever assets you may think will be more profitable. It surely looks slow but it's will be beneficial for the long term.
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Yeah mate, for long term, it's better to earn from all the legit sources, instead of just wasting your money in these hyips scams.
 
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Remember the consequences that comes with taking of loans ,so you should be more careful and you really need collateral to get a loan too.
 
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Wisdom01 said:
Remember the consequences that comes with taking of loans ,so you should be more careful and you really need collateral to get a loan too.
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If you have complete knowledge about cryptocurrency, then you can take a loan and trade in it.so you should also have some your own money because If you want to invest in cryptocurrency it may be causes some lose.take a loan for business in cryptocurrency is a good option.
 
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HMMY1 said:
If you have complete knowledge about cryptocurrency, then you can take a loan and trade in it.so you should also have some your own money because If you want to invest in cryptocurrency it may be causes some lose.take a loan for business in cryptocurrency is a good option.
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The only reason i want him to take caution is because the fear of repaying the loan and others might give him issues when trading ,even when professional there is always that emotional weakness
 
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I would suggest that you should never ever take loan for trading. Taking loan will give you more fear while taking or exiting position. Forex or crypto trading should be done with proper concentration and if the concentration is broken you will have a pay a hefty price.
 
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I haven't heard of bitcoin loans available online. And no one is also ready to give loan through online because of the trust problem.
 
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Razor1911 said:
I would suggest that you should never ever take loan for trading. Taking loan will give you more fear while taking or exiting position. Forex or crypto trading should be done with proper concentration and if the concentration is broken you will have a pay a hefty price.
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Yeah when the person take a loan there would be so much emotional fear and the person might not make the needed profit but loss,i dont recommend for beginners or professionals
 
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