I want to take $50,000 in loan money and put it into crypto before the next bullrun. Talk me out of it. 11% apr
claim some haircombs
>>55092904Is 11% a good rate? I'm not familiar with all that jewish shit
>>55092904If it goes up you make it.If it goes down you can kill yourself and not have to pay.
>>55092907No, it's more than doubled since the ((pandemic)). But the idea is hopefully we moon in time to pay it back without going in to further debt and still make a good profit.
>>55092915Why can't I just declare bankruptcy and clean slate? Also what are they going to do if I have very few assets and crypto is stored in cold wallets?
>>55092904Idk tech stocks are having blowoff tops right now like Nvidia and crypto isn't doing shit. Pretty bad sign imho
>>55092904How do you get a loan to invest into crypto? Do you just lie and say you're going to buy a car?
LTC electroshock says I'm still far south
>>55092904I'd probably wait until we're closer to BTC's halving. Maybe six months prior.
>>55092990Credit cards.. hello?Also anyone can take a personal loan for "x" ammount to invest in "y" stuff that doesn't have to be a car or a house..Combine these two for better debtmaxxing results
>>55093001Any CEX that takes credit cards is gonna charge a big spread
>>55092931I have no clue how bankruptcy works in your country. You should definitely talk to a lawyer about this laws nowadays are the size of the bible and banks have mastered them already.
Sounds solid actually, I'd tell anyone considering taking out loans for crypto to unironically kill themselves but you'd be doing it at the right time if you did it close to bitcoin halving in April 2024 so you'll have to wait a few more months. A month or two before that happens, take the loan out, invest in Rebase, and then do short term staking in high APY alts (Litecoin would be ideal). Good luck op.
>>55093001Unsecured LOC. Money is transferred between bank accounts and directly into CEX. It offers much lower interest rates compared to a credit card.
>>55093001mind boggling some people in biz dont know about debtmaxxing. based advice anon
I feel like this is obvious but don't fuckin buy anything that looks remotely like a shitcoin. Also follow this faggot's advice >>55093046 and do it just in time for the halving - btc always goes up exponentially during that time.
>>55093046Thanks anon.
>>55092995>>55093046These, OP. Please fucking listen and just wait and don't try to beat the apr's doubling.
>>55092990>take loan to buy #goyproduct 753>sell it immediately for cash>buy shitcoinsYou guys have no imagination
>>55093046I've been considering this for a long time, trying to weigh all the risks. Obviously it would raise a red flag with the bank but who cares. Like I said if the crypto is in cold storage there's nothing they can do to mitigate the risk. Furthermore, even if I can time a 10% boost in the crypto market, that's an easy $5k. Not sure why more people aren't doing this.
>>55092904Yeah, take a high APR loan right as US is entering a recession, what could go wrong, kek.
>>55093082Can anyone who is financially literate explain why people aren't doing this?
>>55092904fuck off Sam Hyde
i would personally go all in, into a shit coin, achieving a 2x is fairly easy in the crypto space.double your money and then pay back the debt.you now are a trust worthy lender and have access to more debt.you now own your own capital.
As a rule of thumb: if people aren't doing it it's probably retarded.OP you're missing something.
>>55093158Funny you should say that because I've been chasing those 10-100x shitcoins for a while now and ignore the 6x I just made on a $20 buy order. Maybe there's something to aping like the whales.
>>55093206because forget how insane doubling your money actually is.
>becausepeople*.holy dyslexia
>>55093193Not buying TSLA in 2012 was retarded. So was not buying bitcoin in 2010. It's all hindsight and calculated risk. Of course it's retarded if you're a normal person who wants to buy a car, renovate the kitchen, or go on vacation. That's what loans are for if you don't intend on doubling the money. So what exactly am I missing?
>>55092904Just buy BTC and ETH, store them in your privacy wallet till the next bull run.
>>55093233The psychology of shitcoin degens is beyond our understanding.
>>55093271I said talk me out of it, not give me instructions on something I plan to do.
Good idea imo. Not seeing and real reason not to
>>550929041. what do you mean crypto?? if you are taking out a loan for "crypto" then make sure that it goes into Bitcoin (or atleast half of it). worst thing that can happen when you buy Bitcoin is that your 50k goes to 25k (but will one day go up again). the chance of you 50k going to zero is much higher when you buy "crypto". 2. how much of you're income (%) would go to monthly payments and will you be able to keep making payments even if "crypto" goes to zero?3. buy NoiseGPT
>>550933271. Yes, I should have mentioned BTC and ETH. Although crypto seems like a more viable play if I research shitcoins full time. The 2x is almost certain unless it's rug pulled. $50k would make make a huge dent on the chart if it's a small MCAP, so there's plenty of options out there to double in a matter of hours/days.2. Not worried about this. Worst case I am liquidated, declare bankruptcy, and continue waging.3. Haram.
>>550933761. just don't go the full amount into crypto. 2. then go for it3. Allah is very forgiving
>>55092915Its a win win but I think I'll make more money on the immunify platform. Blockchain for digital healthcare is the next big narrative.
Do it if you have enough capital/emergency expenses to manage for a few months/years enough to wait it out. The risks are paying to hold the position and having to keep your crypto secure on your own during the time you wait.Do you have a backup plan if price doesn't appreciate how you think it will ?
>>55092931You dont need to worry about non of that if you just store those assets in a privacy wallet.
>>55093119Because you can't time the market, retard.You think BTC will moon, this time it won't.
>>55092904That's a big risk that you want to take, but if you will keep the money in stablecoins and stake it on yield aggregators like BeefyFinance and SpoolFi then you can reduce your risk of loss and also make a profit.
>>55093635So declare bankruptcy and you don't have to pay back the loan?
>>55093705How is it a big risk if he doesn't have to pay back the loan in case he loses the money?
>>55092990No if you say its for a car they'll want it as security on the loan.Home improvements/white ware/moving costs/car improvements may work.Funeral or debt consolidation might work, but they also might ask to pay them directly
>>55092904>before the next bullrunlolhe doesn't know
>>55092904The next bullrun is either never happening or decades away you poor zoomer retard
>>55093705Those yield aggregators are the best choice >>55093717>How is it a big risk if he doesn't have to pay back the loan in case he loses the money?Do you think banks are for charity?
>>55093794Every time you say and think the same thing, "the economy is fucked for real this time bros, no more bulls" it's going to recover and the bull is happening
11% is a fucking joke, look for better.You have time to fuck about with credit cards and ratings for better deals.Then again, it might be 15% by the time you do that.Convince yourself.
>>55092904Not a bad idea, but Token Metrics can save a lot of time, quickly and easily identifies the best cryptocurrencies to invest in, based on risk tolerance and investment goals.
Do it now.
>>55092907It's a good rate if there's a guaranteed pump but OP has a 'big' brain the way /biz/ does so he'll buy the local top and be holding a bleeding bag with appreciating interest on his loan instead.
>>55092904I feel ya, dude! If you ain't scared to dive into the RWA sector, go look for RIO and MNI. If you wanna rake in that passive dough, MNI's got you covered with NFE and a solid APR. Can't go wrong with that extra security either. Your choice man.
>>55093280either do it now or dont do it at all. the bull run will commence quicker than people realise and before the halving. the advice in here is solid just either be a pussy or dont be a pussy about it. your call
>>55093206You're not far from making it in life anon, get your $50 minimum GOB bought on Sushiswap Arbitrum between May 24th and June 7th burnt from the Treasury.
>>55094324Passive income is the best during this unstable market.
>>55092904Nah, just buy RAIL and DASH, thank you
>>55092904DYOR ZK-Snark privacy tokens before making a major decision
place it into fee free coins. I need some more to short.
>>55098143More stable crypto, like those that shield transactions from public view, are good options
>>55092904Good sir, you can try to stake on avax
>>55093271ETH would take half of his gains just in fees. Awful recommendation.
>>55092904Maybe, but you'll fuck it up.Can you dca for the next 5 years? No, you cant.
>>55092904All in on AVAX
