but if we have steady income and discretionary income, we can possibly start investing in Bitcoin without waiting to build up our emergency fund at the beginning of our Bitcoin investment. It is better to get started with our bitcoin investment.
anyone that is just getting started with bitcoin, can start accumulating bitcoin if he or she have a source of income and discretionary income, because waiting to build up emergency fund before you can get started may delay your investment junney or it might even make the person to loose interest if he or she see that bitcoin price gone higher, he or she will start feeling it's too later to invest, that's why it's very important to get started to avoid loosing interest in the future.
Emergency funds is a must have for everyone who wants to embark in bitcoin investment, especially as the focus is on long term investments and holding, you can over ride having your emergency funds only when your goal is not based on a long term strategy which is very wrong, probably you just want to key into bitcoin investment for a quick profit, without knowing its volatility . You might have a nice flow of a source of income but if you don’t make arrangements for your emergency funds it is capable of ruining your investments before you know it. One thing I like about bitcoin investment is that it doesn’t necessarily requires you to start with a very huge amount, and for someone to be able to have the mindset to start investing in bitcoin with the little source of income coming, I believe same person should be able to make arrangements from there for emergency funds so you don’t panic to sell immediately due to a little downturn in the market or to use it to settle an urgent financial need.
Sounding and reasoning mainly like a trader, as an investor you are not suppose to be reasoning of sell any of your investment until you are done accumulating, a real investor will keep on buying and accumulating now because you don't know where the price of Bitcoin is heading to right now, selling should be the last option of any investor for now, since investment is for a long-term. Short-term trader are the ones running to sell their Bitcoin because the are scared of the market price dropping, they don't want to be at the losing side, in December the price ice of rose drastically until after Trump's inauguration where we started seeing decrease in market price, and now it's up again, why the panicking except you are a trader not an investor.
The DCA strategy has always been the best strategy to adopt as a beginner until you get used to the market before you decide to use the one you prefer.
@Sonia_123, I don’t think you actually understand my post as to what will warrant your conclusion to say that the post I made is sounding and reasoning like a trader, so I will suggest that if you so care to understand more, you should go back to the post and read through words by words so you can truly understand what the content of my post is saying. For a quick clarification, the post focus mainly on the importance of an emergency funds as someone who wishes to embark on bitcoin investment, we all know that the emergency funds is very important and necessary to have for your bitcoin investment, you can either get your emergency funds ready before you start your bitcoin investments or you can get it ready after you might have started, but the most important thing is that you must get your emergency funds especially for someone whose initial strategy is for a long term investment, this will go as far as sustaining your bitcoin investments for as long as because you won’t panic to sell your bitcoin holdings whenever there’s an emergency need for funds in your life as a human. You can never over ride having your emergency funds.
So long as we can't predict life happenings or foretell onforseeing contingencies that may occur as a Bitcoin investor or trader as the case maybe, it still holds the great importance of emergency funds. Yea, it's importance cannot be overemphasized. One simple but vivid point I want to make is the fact that, Emergency funds or the unavailability of emergency funds should not be the reason, yardstick or criteria while a newbie or a would be investor would not commence his/her investment journey.
It is true that emergency funds is a life saver, but then, it shouldn't deter one from starting up an investment plan simply because you don't have it. Its a true fact that ''a journey of a thousand miles begins with a step''. Yea! A begginer can start his/her investment career while also starting up the said emergency funds alongside. Getting started is the goal for me, and building up your emergency funds is the rock and solid support system for a prosperous, long lasting investment scheme.