Take a Payday Loan To Buy Bitcoins?
Many financial trends in our country are borrowed from America. Most Americans do not believe that you need to invest your money in this electronic currency, and even more so because you need to take a payday loan to buy bitcoins. Many financial analysts associate the bitcoin system with financial bubbles and, therefore, when the bubble bursts, it will bring great losses.
Bitcoin is a form of digital currency created and maintained electronically. Bitcoins are not printed, like dollars, euros or rubles. There is no single organization controlling the Bitcoin network. Some people like it because no big bank interferes with transactions and transfers.
One bitcoin costs about $ 16,000, for comparison, the cost of one Amazon share is about $ 1,200. One of the most well-known investors in the Bitcoin system advertised well the potential of Bitcoin, predicting that one unit would soon cost as much as $ 100,000 in the next three to four years and $ 1,000,000 in twenty years.
Why do so many analysts predict the great influence of this currency in the future? In the notorious New York Times newspaper in a certain article devoted to bitcoins, the following thought was present:
Casino! People love to gamble, and the amazing rise of Bitcoin, especially in the era of social networks, is largely due to the human factor. Many people like to make large bets on currency, in the hope of earning extra money and getting out of the game on time until an accident occurs.
Payday Loans and Bitcoins
So, what is the connection between bitcoins and payday loans? It turns out that there are people who believe in this currency so much that they buy it with credit cards or take a loan. Apparently they have developed a certain plan, according to which it is necessary to buy a certain portion each month. In America, people do not even pay attention to the fact that they have open loans or mortgages.
Large investors are well advocate the purchase of bitcoins and gradually increase the results. So, at the end of November last year, the search for the keyword “buy bitcoin online” in Google search was not far from the historical maximum.
The President of the North American Association of Securities Administrators, reports that the bitcoins are currently in the “mining” phase – increasing the number. But the astronomical knowledge that is used for this, sooner or later will not be enough for this process. In other words, the bitcoin bubble is about to burst, but it is not yet known when and how.
Given that the risk, for the most part, is not justified, taking a payday loan to buy bitcoins is far from the best idea.
So, at least, American experts say today. Representatives of DDS Bank say that Bitcoin is one of the 30 largest investment risks in 2018. Bitcoin will not be legal tender, and it is not a stable means of preserving value.
Take a Payday Loan for a gift to yourself
When the cost of bitcoins drops sharply, your investment wilts, and if you take a payday loan to buy them, the debt that must be systematically paid off remains.
If you feel the need to invest in something worthwhile that will bring profit or satisfaction in the future, it is better to spend money buying a gift. Any money can be depreciated at any time, and a TV or a new gas stove will delight you for a long time.