Breaking News

Borrow money to buy money? The report shows that 18% of U.S. investors are doing this

LendEDU, a platform that recently provided loan information to students in the United States, issued a report on investors buying cryptocurrencies on credit cards. According to the survey, 18.15% of participants used credit cards to buy bitcoin through voting on 672 active bitcoin investors.
A Lendnedu survey found that 18% of 672 participants pay for bitcoin by credit card

Last year's Nielsen report revealed that credit card debt has accumulated to more than $ 1 trillion worldwide, and that data is still growing exponentially. With cryptocurrencies getting older and more popular, it appears that many investors now tend to pay for bitcoin with borrowed money - credit cards and loans are the most popular. LendEDU, the lending information platform, recently published a report that reported that 18.15% of the 672 bitcoin investors surveyed paid bitcoin with credit cards.

"I paid with a credit card," a bitcoin investor in the interview was bitcoin bought in such a way.
22% of borrowers did not pay off their debts

Lendude said the data they surveyed was a little "worrisome", with more than half (51.78%) of respondents using loans and credits to pay for bitcoin purchases. The main reason for this is that the sample of respondents from this survey is too small to invest in millions of cryptocurrencies. In addition, Lendedu reveals another data that makes them feel more worried:

"This is not the most worrying vote, and another shows that 22.13% of bitcoin investors did not pay off their credit card after they bought bitcoin on loans and credit cards."

Of the 672 investors, 77.87% said "I paid off my debts after I bought bitcoin with a credit card," but 22.13% still explained that "I did not get any credit card for bitcoin Pay off the debt. "However, not all investors borrowed money to pay for bitcoin, with more than 18% of investors using ACH transfers, 13% of investors using bank transfers, and the remaining Use other ways to buy bitcoin.
Respondents said "I believe it is more worthwhile to own bitcoin than to borrow money"

Lendedu explained that a significant portion of their vote was not worried about bitcoin price volatility and they wanted him to pay off his credit card bill by betting Bitcoin. "I believe it worth having Bitcoin more than borrowing money," these words come from investment respondents who borrowed on credit cards and interest.

"In addition, 88.89% of the same investors want to pay off credit card bills by selling the money they earn from bitcoin," Lededu said.

Recent surveys show us the growing momentum of borrowing to buy bitcoin and other digital currencies. Meanwhile, recent news from, described by Joseph Bogota, a security regulator for the United States, is that many Americans now want to raise bitcoin investment funds through their mortgage loans. Borg said credit card and mortgage home loans have been used more recently by investors who want to pay off their debts through Bitcoin.