Quote from: salad daging on January 17, 2024, 02:23:36 PM

Therefore, before starting investment, prepare an emergency fund in advance for at least 3-6 months so that the reserve fund is safe when needed at any time, of course this will not interfere with your investment when in any emergency.

I always use this strategy because for us it is important about emergency funds, we are humans who will certainly require expenses and needs that we never expected in any case.
Never rely on parents means you don't have independence, if you are still in school then it is still the responsibility of the parents but if you have worked you yourself must be able to how to support yourself and start the investment because with the monthly salary you receive, for example, it is important to set aside on investment, especially bitcoin if you understand it.

Now when you have a problem in the sense that there must be greater expenses then the reserve fund can be relied on, your investment is safe will not be sold in the middle of the road, you can still continue investing in bitcoin when things are normal.

But when your finances are still healthy then continue your DCA to invest in bitcoin.

Having a safety net, such as emergency reserves, is essential for anyone hoping to enjoy their Bitcoin investment journey in case unforeseen issues happen. This safety net makes sure they won't rush to sell their Bitcoin investments quickly in the event of any unanticipated problems. Individuals frequently give up on their Bitcoin investments because of rash choices they make in times of dire need for money rather than because of any inherent issues.

It is difficult for Bitcoin investors to succeed when they constantly sell off a percentage of their holdings when they run into financial difficulties. One important realization is that you don't always need to invest a lot of money in Bitcoin to succeed. The Dollar-Cost Averaging (DCA) method is a more practical strategy that involves gradually purchasing Bitcoin until the appropriate quantity is accumulated. Investing greater sums becomes less daunting and more manageable with this strategy.

Emergency savings are not only essential in Bitcoin investment but also in any business venture where utilizing business funds exclusively for problem-solving isn't a prudent strategy. The importance of having a financial cushion transcends Bitcoin and extends to responsible money management in various aspects of life, ensuring a smoother and more resilient journey in both investments and business endeavors.