Getting a Loan to Invest in Crypto? Forget About It
— Loan, Toxic idea — 1 min read
21% of U.S. crypto-investors have used a loan to pay for their cryptocurrency investments, according to a new study by DebtHammer. Experts say borrowing money to invest in cryptocurrencies is a toxic idea with no shortage of financial landmines involved. Almost 19% of respondents said they've struggled to pay at least one bill due to the amount of money they've invested in cryptocurrency. Other investment professionals say cryptos are fraught with risk right now and not worth the sleepless nights triggered by sliding investment performance and added loan debt. The best strategy with any investment is to use money you don’t need, one expert said, “Use money you’re not ready to borrow’s not need” Source