Quote from: Hardyrobust on Today at 09:16:06 AM

Quote from: Lida93 on September 29, 2024, 11:40:25 PM

Quote from: Stable090 on September 27, 2024, 07:33:05 PM

Quote from: Proty on September 22, 2024, 08:32:03 PM

you need to dey set aside some money( emergency fund) bcos nobody fit predict the future, you fit get some problem wey go want pressure u to trade your bitcoin when the time never reach for you to trade. this money will help u not to trade your bitcoin before the expected time.

If you no get emergency funds, then e go Dey difficult to hold bitcoin for long time be that now, because if problem happen, if emergency money no Dey, you no go get choice than to sell your bitcoin, and use money solve problem wey Dey, but if emergency funds Dey, then we no go even think about the investment wey we get incase if problem Dey.

The manner wey every person the talk about this emergency funds when referring to DCAing in order to garner some bitcoin portfolio, the thing come the look so scary putting myself in the body of a newbie and imagining it (despite say I know the significance of this emergency funds say we no fit overstate am in relation to having a successful bitcoin portfolio for a long time investment), say if I no fit afford to the make provision for emergency funds that means no need for me to develop interest in building a portfolio with this asset?

unless u are into trading that's when u will not talk about emergency fund but as long as long term investment is concern u surely need an emergency fund in order for u not to trade the bitcoin in ur portfolio before the expected time.moreespecially if u are into DCA, u surely need an emergency fund.before u start an investment in bitcoin u must have a source of income and from that ur income that's were u carve out ur emergency fund.lets take for instance ur monthly salary is #100,000 , u can use #30,000 or less to do DCA, #10,000 or so for emergency fund and the rest for other expenses.so what u need to start ur investment is a source of income and then from there carve out an emergency fund thats all.

This your explanation really make sense, emergency funds na bettter back up plan when investor decide to invest inside Bitcoin. While the investor go chose to follow the DCA pattern na first to watch out him income and how him go use allocate monthly or household expenditures. Any investor wey choose to pattern with DCA suppose monitor him monthly expenses then decide how much go dey available to use they buy at that interval, e no dey extremely compulsory to allocate 30,000 according to your example because we all know how the economy dey, if alone no be big salary earners we no say even 50% no go reach us feed family so we fit just put am between 10%,15% or 20% on a normal standard when be say we really appreciate the effort to build our portfolio inside of Bitcoin.