A person who does not keep an emergency fund with Bitcoin investment may have missed out on an investment strategy. Every investor needs to know investment strategies, whenever you face any danger, you can deal with that danger with your emergency fund.
It is possible to sustain his investment in the long term based on Bitcoin investment plans and strategies, because the more the Bitcoin investment follows the DCA method, the more his investment will be able to accumulate more sales in the long term and in the long term. Therefore, the most important thing should be given to Bitcoin investment strategies, because these steps are definitely needed to sustain the investment.
I don't think emergency funds are that necessary when someone has stable sources of income. For example, when someone is a wage earner or salary earner, their income can simply serve as emergency funds if they plan well.The reason why I feel someone needs emergency funds is when they don't have stable sources of income. These are the people who need emergency funds in case anything comes up in the future. This way, they won’t need to dip into their investment funds.However, as long as someone has stable sources of income, those incomes can serve as emergency funds. The only thing is that if someone wants to enjoy Bitcoin investment, they should use the DCA (Dollar Cost Averaging) method and avoid buying all at once.
You are wrong mate, you cannot use your income as an emergency funds because it's stable. When you are investing in bitcoin, you need an emergency funds separately from your income to take care of an unforeseen emergency that will arise so that you don't sell your bitcoin and take care of that emergency.
In your monthly income, you have your monthly expenses from their to take care of your basic needs, and the left over is what should be put into bitcoin for investing, so how will you say that you can use your income to serve as emergency funds. Let me highlight you on what we call real emergency that such funds is used for. If you lost your job, how will you survive without preying into your bitcoin investment.
Another emergency is if your roof is pulled of by storm and you haven't been paid, where will you look up to on how to fix your roof. Improper planning leqds to early selling of your bitcoin portfolio. An emergency funds is very compulsory for all bitcoin long-term invetors for them to be successful in the long run.
However, an investor with a large discretionary income, that's someone who have various source of income or investment, might not really have his emergency funds, because he can use one of his business to serve as an emergency funds incase an real emergency happens. This is because he has various places to tap funds from to solve any real emergency. Such person will be at a better position to invest more aggressively.
This is why if you don't have an emergency funds but have your discretionary income to get started, you share it into two parts and invest one part on bitcoin, the other part to build your emergency funds. As you are DCAing every week, same way your emergency funds is growing.
What was conveyed is true, and this is a good and disciplined way with careful planning to secure emergency funds and also Bitcoin purchase costs periodically so that everything runs smoothly and according to plan, that's what DCA actors should do, especially for those who have limited income.
But for me, for those who have a large income and can cover everything including emergency funds and also to buy Bitcoin, I think it's okay and the most important thing is that they have good financial management and can manage it so that everything is sufficient and in my opinion workers who have salaries that can cover what is needed and including what I mentioned both have discretionary costs and examples are overtime costs, employee benefits such as bonuses or others and also insurance packages that they can use to back it up. But it would be nice if we had additional income or a side job and also a business so that we could cover emergency funds and even to add to Bitcoin purchases periodically which are done every week or month and that is much better because everyone has different abilities and capacities to be able to meet all their needs and also for emergency funds and also to buy Bitcoin so that all of that can be done together and the most important thing is that they want to do it as well as possible and as best as they can which according to them is good and best because it is certain that when doing all of that they will find a new way that is better even more than that because all of that starts from the intention and patience in doing it and the goal remains the same.