Quote from: Lida93 on September 30, 2024, 02:38:30 PM

Quote from: Hardyrobust on September 30, 2024, 09:16:06 AM

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

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.

All of these details you don elucidate about nah something wey normally I get full awareness of but you it seem you never get the point I dey try to make with my question. As I talk for the first comment say I no dey doubt the place of emergency funds for long time investment but my question be say, base on adoption of bitcoin way we the clamour about, but don't we think that this idea of having emergency funds aside for those wey their source of income (salary) for the month fit only reach to take start building their portfolio and also feed from it but no fit manage reach to keep small part as emergency funds. Won't this context be a discouragement for them to go on with bitcoin accumulation ?

I understand wating hardyrobust they explain give you, na if u want use #50 start ur investment in bitcoin and e happen say na only this #50 be ur last card, out of this #50 u fit use #20 start ur investment and put the remaining one for emergency fund. Some weeks u fit still skip to buy bitcoin and to refill ur emergency fund. so this emergency fund no fit be discouragement to anybody wey want invest in bitcoin be it low salary earn. Even if na #20 u dey earn and u done use #15 feed ur self and other expenses, the remaining #5 no invest all for bitcoin , u fit use #2 and put #3 for ur emergency fund.so any money wey remain with u after u done do all ur expenses no go put all for ur bitcoins, divide the money and put some for bitcoin them the remaining one for emergency fund.