The downside is something known as bankruptcy.

The downside is borrowing money is applying leverage to a historically volatile asset. If btc price goes against you medium term, you could lose your entire investment. If you simply hold btc, you avoid this risk.

Does the word Celsius ring a bell? Besides the scale of temperature? If not, what about Three Arrows or Voyager

I think it really depends on your situation. If you can service / pay off the debt with certainty without adding any significant risk then I think it's a useful tool.

I took on debt to buy Bitcoin through a signature loan from my local credit union during the COVID crash at a btc price of about $6k. It worked out well for me but I never put anything at significant risk and I knew the price at the time was extremely under valued.

It is a bet that can certainly work out (borrow to purchase lump sum vs DCA'ing with your own cash flow), specially if applied during a bear market.

However, there is a BIG downside here with the borrowing service... You are not really purchasing bitcoin because you don't have custody during the investment period - only at the end. Unfortunately, many unforeseen bad things could happen during the investment period and you could get rekt. When DCA'ing to purchase bitcoin and putting it into your own non-custodial wallet, it is truly yours.

Bitcoin is remarkably simple: just DCA with your own free cash flow over time and you should be fine 😊

You might want to read this. There are more episodes in my profile.

If it’s an unsecured loan, go for it. If you gotta put up collateral then wait for bull run confirmation.

Also putting your bitcoins on any platform you have a risk of losing 100% of those bitcoins due to platform failure. Gl hf

One of the best things about Bitcoin is that there's no intermediaries between you and your money.

Any company that puts themselves between you and your Bitcoin is contrary to one of the core benefits of Bitcoin.

Sell goods and services for money. Spend less than what you earn. That's it really. Bitcoin allows you to do this directly, without any middlemen.