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.
Who does that your salary is never your emergency fund that is very wrong seeing your salary as your emergency fund, emergency fund is what you need set aside after which you have already started accumulating Bitcoin with your discretionary income which is first thing you need to sort out before starting bitcoin investment, paraventure an unforeseen circumstances came up will you wait till you are been paid your salary before you can sort it out? This will really spoil your Bitcoin investment journey because will definitely sell out in a short while and may still loss at the process.
Before an investor begins to accumulate Bitcoin for the long term, it's important to establish a savings fund and an emergency fund. These funds will help maintain a stable investment portfolio and prevent the need to sell investments prematurely, especially when they are still in the early stages. Having reserve and emergency funds is crucial for Bitcoin investments, as they will allow you to address your needs and any unforeseen circumstances. This way, you can continue to accumulate Bitcoin over time using the DCA strategy, which is popular among investors.
Don't overcomplicate the process of investing in Bitcoin because it should be easy for everyone including new investors. Telling someone to establish savings funds and emergency funds is somewhat confusing because it might send the message that someone have to save in fiat first before buying Bitcoin. This is totally wrong; the money you are saving in fiat can simply be used to buy Bitcoin instead of saving in fiat. Going by your suggestion, someone may decide to save fiat for 3 to 6 months with the intention of using same to purchase Bitcoin... this I consider not effective instead that amount could have been used to buy Bitcoin for that 3 to 6 months using the DCA method or any other method as the case may be.
The right thing to do is to set up emergency fund after funds for basic needs have been set aside and investment made with discretionary income. In other words, whatever inflow you receive, just set aside the mount to cover your basic needs then you can invest part of the remaining then keep some one place as emergency fund. It should be as simple as this to produce effective result and also easy to follow.
nothing is confusing there, because back up fund can also be referred as savings fund in an advance English. at least you should have checked the meaning of savings funds in the dictionary or on Google before saying that am passing a wrong information, because what I said was very clear if you want to invest in bitcoin as an investor in other for you to avoid selling your investment at early stage you should established a backup fund which can also be refer as savings fund in an advanced English, and emergency fund that we assist you to build a solid investment portfolio for a long period of time.
Back up fund is a must that every crypto investors must have in order to stay safe not to touch your crypto investment.
There are people that still don't understand how important is backup fund believe I am convinced that has time goes on, as they keep making mistakes and realizing it, then they will keep a close eye on getting a portfolio for any emergency bills.
Being an investor, one has to have to understanding about how to invest in the right way without falling back to the investment fund because of lack of emergency fund in place. Just also applies to any type of business we plan to do. There is always a need for you to have sufficient funds so in case anything happens along the way, you will not have to rush and cut short your investment because you needed to settle an emergency bills. Backup fund can help to cut down any intend to go touch the investment fund.
It is necessary you are specific here let bitcoin be called bitcoin and let shitcoins be also called shitcoins and not Crypto some fellows here has also mentioned to you why you should called bitcoin bitcoin and shitcoin shitcoins in this thread.