How can I use a guarantor on debt to invest in cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  Using a guarantor on your debt to invest in cryptocurrencies can be a risky move. While it may provide you with the funds you need to invest, it also means that your guarantor will be responsible for the debt if you are unable to repay it. Make sure to thoroughly discuss the risks and responsibilities with your guarantor before proceeding.
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• Dec 17, 2021 · 3 years ago
  Yes, you can use a guarantor on your debt to invest in cryptocurrencies. This can be a good option if you have a trusted guarantor who is willing to take on the risk. However, keep in mind that if your investments don't perform well, both you and your guarantor may be at risk of losing money. It's important to carefully consider the potential risks and rewards before making any decisions.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we do not recommend using a guarantor on debt to invest in cryptocurrencies. It can be a risky strategy that puts both you and your guarantor in a vulnerable position. Instead, we suggest exploring other options such as saving up funds or seeking alternative sources of investment. It's important to make informed decisions and consider the potential risks involved in cryptocurrency investments.
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