Almost a quarter of US investors used loans to buy crypto #TOGRP7

A large number of retail investors in the U.S. have taken out loans, often at exorbitant interest rates, to buy cryptocurrencies, and more than half of such investors ended up losing money, according to a recent survey by DebtHammer.

DebtHammer surveyed more than 1,500 people in the U.S. to find out about their crypto investing habits and how they affect the already indebted nation.Over 21% of crypto investors said they’ve used a loan to pay for their crypto investments, according to the survey. Personal loans seem to be the most popular choice among investors, as over 15% of them said they’ve used one to fund their crypto purchases. Many also used payday loans, title loans, mortgage refinances, home equity loans, and even leftover student loan funds to acquire crypto.

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