21% of crypto investors use loans to pay for their investments, with some using car titles and payday loans
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Dr. Merav Ozair, a blockchain expert and professor of financial technology at Rutgers Business School, echoed Bryantâs advice in an interview with DebtHammer.
âNever take out a loan to invest. Only invest the money you need,â Ozair told DebtHammer. âA lot of people think they can become a millionaire in a day, which never happens.â
Ozair also told DebtHammer that prospective investors should never leverage an asset â like their home or car â in a speculative investment.
Dr. Leonard Kostovetsky, an assistant professor at Boston Collegeâs Carroll School of Management, echoed other experts who warned against giving in to social media trends that advised people to âbuy the dip â in cryptography.
âIt is an exceptionally risky and foolish idea to take out a loan to buy cryptocurrency,â Kostovetsky said. âAnyone who did this should immediately sell enough cryptocurrency to repay their loan in full, or risk having to default on that loan in the future.â
PHOTO: An advertisement for the Bitcoin cryptocurrency is displayed on a street in Hong Kong on February 17, 2022. Cryptocurrencies have suffered their worst fall since 2018. As prices fall, businesses crumble and skepticism soars , fortunes and jobs disappear overnight and investors are feverish. speculation has been replaced by icy calculation, in what industry leaders are calling a âcrypto winter.â (AP Photo/Kin Cheung, File)



