Post
Topic
Board Nigeria (Naija)
Re: Bitcoin reserved funds are not meant for fun spending
by
Juicyhome
on 05/07/2024, 11:05:13 UTC
Reserve funds serve for all purpose and act as a safety net for unanticipated circumstances, when you are building your Bitcoin investment is proper you have a reserve funds. However to correct something reserve funds don't have a especially place or circumstance to use it for any unanticipated circumstances that comes up you can you your reserve funds to handle it, it could be for fun for example you are to attend a birthday party and you need money so you can use it to buy drinks and other things you can dip hands into your reserve funds for that, reverse funds is different from emergency funds emergency funds are only for emergencies purposes so let no the difference and it's always advised to have a strong emergency, reserves and float funds in other to make your Bitcoin accumulation journey a successful one because without all this funds in place you will be tempted to dip hands into your Bitcoin investment.
Whatever the type of funds be it reserve, emergency or float funds, the aspect of all these is so that over investment are secure and safe from selling and re-buying because if you are always tempering with your investment their is a high tendency that you end up scattering the whole investment and spending all the money on things that you didn't plan for and that's why it's paramount to have scheduled all these spare funds to atleast have a good Bitcoin holdings.
no matter what happened never temper with your reserved bitcoin, and if you're not a daily trader, don't be opening your wallet, just ignore it like they never exit. Because if you keep visiting your wallet you be tempted to withdraw if the price is dropping . That's why is adviceable to use your spare cash, not cash you need in two months time to invest in bitcoin. Bitcoin holding has saved many people, and make many millionaires, so if you want to enjoy bitcoin then you have to hold for long.