Under absolutely no circumstances take a loan to buy crypto or take a loan instead of selling crypto

I've just seen this thread and it is such bad advice that I wanted to make a counter-thread: If you need to liquidate your crypto, consider borrowing fiat instead of selling. Long story short: if you assume (!) your crypto holdings increase in value at a rate of 20% per year, you would be better off taking a loan with 14% interest instead if you want to buy something and don't have enough fiat.

This is a really, really bad idea. Sure, if you crypto grows 20% a year you would have more money that way, but 1) your crypto could go to zero and 2) you could lose your source of income and be unable to pay off the loan.

Sure, there are situations where you have to take a loan. But if you don't have to and have crypto you could sell instead, definitely do this. Of course buying crypto is always risky, but most of us know that our crypto could go to zero and invest accordingly. Taking a loan and keeping your crypto instead breaks the "don't invest more than you can afford to lose" rule (actually you already made this mistake at this point, but you're ruining your chance to compensate for this mistake, thanks u/MyNameFitsPerfec for pointing this out), do. not. do. this.