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/biz/ - Business & Finance

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23469764 No.23469764 [Reply] [Original]

About to get personal loan for crypto. If I get a personal loan for 50k @ 6.99% interest, keep 12 months of payments($18,516) in my bank account and then buy eth, link with the remaining $31,484... Is this a good plan?

I'll have 12 months leeway. I can easily pay off the loan after that using my job.

What about this.. I thought about putting the 50k balance on a 18month 0% balance transfer credit card. That way I get no interest payments for 18months and can put the full 50k to work. It may be risky because if the markets tank, I'm going to be stuck with a 50k balance with those high 15-20% cc interest rates. Is this even how those cards work?

>> No.23469791
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23469791

>>23469764
>yes bro, we're all going to make it

>> No.23469816

>>23469764
Forgot to say the first loan in my example would be for 36 months 50k @6.99%

>> No.23469900

>>23469791
Also have 800s credit score in good standing. I need some options biz bros!

>> No.23470461

>>23469900
Bump myself

>> No.23470797

>>23469900
Don't do it, retard

>> No.23470844

>>23470797
No I don't need that advice.

>> No.23470983
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23470983

>>23469764
if this is not a sell signal,then i don't know what it is

>> No.23471005

>>23470983
ROSE WHAT THEFUCK DOES THAT MEAN /X FAGS?

>> No.23471237
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23471237

>>23469764
If you have the ability to garner that sort of loan, look into real estate.
I’m 53 years old and didn’t get into real estate until I was 40 and I wish I had a time machine and should have learned it straight out of high school. You can start slow with any city real estate club and work your way from there. Over the past few years I’ve been mostly on cruise control with my son doing lots of the work (but he makes good money).
Stay away from crypto now, we’re at multi year resistance levels so don’t risk it.

>> No.23471322

>>23471237
Yeah I'm not just going to yolo in right away. I'm trying to understand the best methods so when a time does arise, I can be ready to act.

>> No.23471467

>>23471322
I do make money from crypto but I’ve been an investor for many years and crypto has many hazards. Hacking, scam wicks, random dumps/pumps at 3:18 a.m., etc. ...if you have time to watch 24/7, go ahead with crypto you may make a bundle