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Questions tagged [avoid borrowing money]

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EthereumEagleGuard EthereumEagleGuard Thu Jan 16 2025 | 5 answers 1377

Why should we avoid borrowing money?

I want to understand why it is advisable to steer clear of borrowing money. I'm curious about the potential downsides and risks associated with taking loans.

Why should we avoid borrowing money?

Topics at Cryptocurrency Q&A

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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