A resident of Abu Dhabi invested $140,000 loan in cryptocurrency and left at a loss by 85%
A novice investor from Abu Dhabi reported at the account on Reddit how to get a Bank loan UAE at $ 139500 USD and put them in cryptocurrency. According to him, his losses amount to 85%.
According to documents provided by the user Cryptohomie, his loan was 338000 AED (139500 USD). He received the funds at a time when the cryptocurrency market was in the midst of a bullish trend.
Cryptohomie obliged to make monthly payments in the amount of 3381 USD to 14 December 2021, and the total amount of the loan with interest 162333 reaches of the dollar. The investor writes:
“Even 3.5 years I have a debt to repay. To date, my losses are 85%”.
Cryptohomie used different cryptocurrencies in its portfolio, including Stellar, NEO, Litecoin, Ethereum and “some other shitcoin that has lost 95% of its value”.
Investing in crypto currencies due to Bank loan
According to him, most banks in the UAE with great pleasure, give large amounts of money for short periods of time.
“You can get 100,000 dollars in a few days on your account without going through lengthy inspections,” he added.
Users of the social network asked him about how he got into this situation, to which he replied:
“I am 32 years old and this was my first speculative investments. I think that many investors are still exposed to great risk.”
Most users of Reddit, as a rule, sympathized with his position. In turn, the investor jokingly wrote that “if there is some incredibly rich Sheik who doesn’t know what to do with his money, he can not hesitate to contact me”.