The trader took credit 126 $ 500 and lost 85% of the amount on bitcoin

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32-year-old man living in UAE, decided to climb on the digital token and took a Bank loan for investing in cryptocurrency. However, the inexperienced trader went negative and now shares with the world his disastrous experience.

In the Internet appeared the story of a Reddit user known by the nickname “Cryptohomie”. He published a paper of Emirates Islamic Bank, according to which the trader would to pay monthly for 8 194 dirhams about 3 067 $ to 14 Dec 2021. Initially, he received 338 000 AED 126 $ 500 and interest appeared to be 393 296 dirhams, that is 147 $ 200.

“Here’s my Bank statement associated with the loan that I got to invest in cryptocurrencies. Until my release is 3 and a half years. I will have to idle, and I was in the red at 85%. I hope this will be a lesson to you,” writes Cryptohomie.

Cryptohomie draws attention to the fact that you didn’t invest in bitcoin and NEO, Stellar, Litecoin, Ethereum “and sidony that have already dropped in price by 95%”.

But despite serious losses, Cryptohomie continues to keep the cryptocurrency. Now most of its portfolio is made up of NEO, Ontology, Elastos, Stellar and HPB.

According to the trader, UAE very easy to get a loan for cryptocurrency investments.

Reddit history Cryptohomie not left without attention. The reaction was different. Some reacted to the trader with compassion:

“I don’t think we can say something about what you have not thought of going to bed,” wrote one commenter.

Others have suggested that these investors, as Cryptohomie tried to pop in at the last moment and go for risky trades, has helped the market to reach its historical peak.

But anyway, the story Cryptohomie very instructive for the young players of the stock market that sometimes you forget about the basic rules.

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