According to a KIS Finance report, almost two-thirds of cryptocurrency investors borrowed money rather than utilizing their own money or savings to make their purchase.
More than two-thirds (64%) of individuals who have invested in cryptos have done so using one or more credit facilities. While this may have appeared to be a sound investing strategy at the time, the major cryptocurrencies’ prices have dropped by as much as 100% in the last month. Many people may suffer significant losses as a result of this sharp drop, while still having to pay back their original loans.
Cryptocurrencies are a dangerous investing strategy since they are highly volatile. In November of last year, cryptocurrency prices skyrocketed, with Bitcoin reaching its all-time high. Cryptos, on the other hand, have been on the decline since then.
