Why you shouldn't borrow money to invest in crypto?
- Extremely high risk: The crypto market is extremely volatile, and its value can drop sharply at any time. If you borrow money to invest, when the price drops, you will face the pressure of repaying the debt while the asset is losing value.
- Inability to pay: Borrowing money to invest means you are betting on an uncertain future. If the investment does not go as expected, you may fall into debt and seriously affect your life.
- No clear plan: Investing with borrowed money is often based on emotions or unfounded advice, lacking a proper investment plan and exit strategy when necessary.
- Great psychological pressure: When the market fluctuates, the psychological pressure will be great. You can make wrong decisions under the influence of emotions, leading to heavy losses.
