Will cryptocurrency bring us out of debt?

[glitch]

I know some people who already have. They invested at the right times and were not only able to pay off their debts but were able to pay off larger loans.

 

[Good-Person]

On the contrary, many people have been suffering from debt due to the fact that they made investment in the cryptocurrency market at the wrong time. El Salvador is one prime example.

 

[Billy]

If you take a look at the history of money, you'll see that money has always been linked to debt. Money is created when someone borrows it into existence, and it becomes debt when someone else lends it. So, if more people embrace cryptocurrency, it stands to reason that there will be more debt accumulated...but whether or not that's a good thing remains to be seen.

There are a lot of factors to consider when trying to predict the future of debt and cryptocurrency. On one hand, cryptocurrency could make it easier for people to get out of debt by allowing them to access funds more quickly and easily. On the other hand, crypto could also lead to more people taking on debt because they're speculating on the rise of its value.

 

[Chibson]

It is not everybody that ventures into cryptocurrency that will become wealthy. there are people that invested big amount of money on cryptocurrency but they end up losing everything.

 

[Good-Person]

Well, there are so many people who could get into debt after investing in Bitcoin as well. This is because many people take loans and invest in Bitcoin and this could increase their debt.

 

[Chibson]

There is no assurance that cryptocurrency would bring anyone out of debt. Cryptocurrency can either plunge you into debt or bring you out of it depending on how knowledgeable you are about it. It is important to acquire the necessary knowledge before investing in crypto.

 

[Syldan]

If cryptocurrency will bring people out of debt, only few will be opportun but due to the high losses in crypto trading alot of people have been brought to debt like extreme debt.

 

[Syldan]

Actually cryptocurrency can bring people out of debt but I doubt large numbers. only few who can be successful most especially those who are very good in the trading because alot of people have suffered the loss in crypto.

 

[Bousine123]

Crypto currencies Can one out of debt, but all depends on what happens after you invest in a coin, if the price increase due to high demand, then you can gain something, but when the price crash you will loose.

 

[greenie]

Crypto currency bringing one out of debt depends on the type of currencies invested into and also the type of debt. Crypto can put one into debt and still bring one out of debt. One just need to know the type of coins to invest in and the right time to trade the coins.

 

[greenie]

It depends on how you go about it, and how much you invest in it. There are some that would end up going into more debts than they where in before. Others might succeed in coming out.