I see that many of you actually liked the concept of 20 % method wherein you allot 20% of your earnings to be saved as emergency fund.
So I was thinking, if that 20% allotted will be invested in a time deposit kind of account, will it still be possible to earn as much or invest it in cryptocurrency? Or maybe just let the money sleep until such time you will need it?
What will be a wise kove to do with the noney you have saved up?
You could (and probably should) put it into some form of a safer investment. There are a lot of stock options out on the market that allow for pretty continual growth albeit very slow. This would be better than just leaving your money in a risky investment or just letting it sit under a mattress somewhere because at least you collect some interest. As you keep making money, you'll end up with more in that emergency fund until it becomes something that you can actually work with in a few years/decades.
I also agree that you should diversify. Stocks dont have to growth always slowly by the way.
Example: If you had bought Tesla stocks on etoro a few days ago before the CEO voting, then you would have made 500 dollar with your initial investment of 1000 dollar. The stock went only up 10% but so your profit would have been 50 dollar but with leverage it becomes 500 dollar.