Loyal Lovin readers can support Lovin so we can continue to share the stories of all amazing cities
Minimum custom amount to enter is AED 2
By donating, you agree to the Privacy Policy and Terms of Service
A Redditor Has Shared His Story Of Crypto Loans And It’s A Lesson For Everyone
A UAE-based redditor has shared his harrowing story of crypto investment and debt – and shared the story in hopes that others will learn.
The redditor owes Emirates Islamic bank AED338,000 that they borrowed to finance crypto investment.
And due to losses, now has to pay AED8,194 back per month, for the next three years.
The person shared the statement on reddit – showing the debt as a warning to everyone
You have to feel for this guy.
Recommended
Dubai Duo To Conquer 7 Marathons On 7 Continents In 7 Days For Charity Cause
Dubai-Based Mais Vault Revealed She’s Diagnosed With Breast Cancer
Top 10 Dubai Christmas Brunches You Can’t Miss Out On This Festive SeasonHere is my bank instalment related to the loan I took to invest in crypto. Still 3 and half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85% loss. I hope it gives you a lesson. from r/CryptoCurrency
International redditors commented on the post
Some wondering the extent of the damage
With some offering sage advice
BitCoin and crypto currencies hit all time-highs in December before crashing in 2018
With many losing on the volatile currencies.
Newsletter