Data shows that more and more Americans are taking out loans for cryptocurrency investments. Stop it, investment experts say.
Our COO, Sukhi Jutla, was interviewed by The Street on the matter. She said: “It’s a really bad idea to take out loans to buy cryptocurrencies, and for two main reasons:
Reason 1: There’s no protection for investors who buy crypto assets.
Reason 2: If you need to take out a loan to invest, it means you don’t have the financial bandwidth to withstand any losses, which is a risky move.
The best strategy with any investment is to use money you don’t need. Taking out a loan for cryptocurrency investments goes against that strategy.”
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