If you needed cash now, would you sell your BTC right now, or try to use your BTC as collateral for a loan?
Hi, it seems this question requires urgent answer. I would rather sell my BTC to meet my immediate needs. The situation of things on ground will determine how soon I 'll sell it - I mean I will be a little bit patient if the price increases after observing the price action then sell.
Remember, one of the primary reason for trading and investment is profit making at the same time checking emergency.
Why I think it unadvisable is that:
Bitcoin price is not stable: The liquidity of this commodity is not predictable. What if the bitcoin price falls below margin?
Besides, many companies, organization and the likes are still sceptical about cryptocurrencies. Fall in bitcoin price may generate tension which is common among new bies. As a result a case may be file against such a person in question.
This is just my and this post is neither to encourage or discourage as you may consider the positive and negative effect before making your final decision.
Thanks for the patience.
Source: quora.com
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