We are taking so much risk for investing all we have that's why its important for us to consider those important matter that needed to survive so that we will not really came to the point that we need to sell our holdings since there's an emergency situation happen to us. That's how the importance of setting up a emergency funds since this could help us survive on crucial times without even touching our funds used for investment.
Being so aggressive on our investment decision will put us on heavy situation that's the reason on why we need to think about those things that we are trying to do. Its not good for us to rush all our decision and risk everything we have. If they are confused about how to do good decision then they are already on right venue where everything related to bitcoin investment discussion is already here. For sure lots of people can learn a lot from statement given by experience people giving some of nice inputs about what are the possible best suggestions that a investor could ever do.
It is very important to make sure we have a good amount of money for emergencies before going into Bitcoin investment (especially when you are planning for the long term). With that, we can successfully invest in Bitcoin without selling any part of it just because we want to solve some kind of emergency issues. On Bitcoin investment there are some challenges an investor faces. The things there are, when you are not properly prepared for the long term investment, you can't afford to continue investing because you are not yet ready,
and what makes you ready for investment is how much you are paid as salary and how much you already kept for emergency cases. Even if you are already investing before knowing this, you might not end well because there are things you failed to do/understand, and those things are:
*Making sure you have a good amount separately for emergency cases*Knowing the best method you can use for your investment plans. *Having good knowledge about the kind of investment you are in so that you will be able to strategize the kind of methods you can use for the investment. I believe with these 3 points one can successfully know what and what's needed before investing in Bitcoin
1.The first readiness or factor I consider before investmenting is having that personal believe and conviction that Bitcoin is a coin that is worthy of investing
. Your income flow
. Understanding the level of your discretional or disposable income after taken care of your personal needs and provisional emergency funds.
2.Having a good emergency funds is a lead way to a successful investment journey the reason why it is always emphasized in this thread, the size of our emergency funds will definitely varies individually based on the level of our income flow and our lifestyles but by definition, it advisable to having 3 to 6 months worths of our expenses as our emergency funds.
3.Every investor will only tailor down method(s) that will suits him or her.
4.Emphasis has been made severally about having a basic knowledge and learn more on your way up for most times experience happens to be the best teacher, prioritizing or seeking much of the knowledge can be retarding, so it best that after having the basic knowledge which includes the knowledge that is been shared here, any one can get the fucking started if the money is readily available for investment and figure out other things on your way up ànd this been one among the numerous advice @jajuanGee.