Abu Dhabi Resident Takes $140K Loan To Buy Cryptocurrencies
August 16, 2018 5:26 pm
The investor named ‘Cryptohomie’ on Reddit is currently living in Abu Dhabi. He shared a document which showed that he had taken a loan for 338,000 Arab Emirati Dirham (AED) ($139,500) while cryptocurrencies had a bull market.
The investor told in Reddit:
“Still, three-and-a-half years to go until I’m freed. Until then, I’m working for nothing, and I’m at 85% loss.”
According to the report, cryptohomie is on the hook for monthly repayments of $3,381 until December 14, 2021. The loan with its interest is charging around $162,333.
“You can get $100,000 within a few days on your account without much verification.”
He thinks that his loss would be a lesson for others who are thinking of becoming rich after investing in cryptocurrencies. Cryptohomie had invested in Stellar Lumens, NEO, Litecoin, Ethereum and “some other digital currencies where he lost 95% of their value already.”
“I’m 32, and it was my first speculative investment. I think it’s an age where we’re still unconscious and take a lot of risks if we don’t have big responsibilities like a kid or bills to pay.”