When you are planning to invest in bitcoin, then firstly make sure your secure a stable source of income, if you don’t have a reliable source of income, after investing in bitcoin, time will come when you will end up selling your bitcoin investment back gradually, if you don’t have a stable source of income, then you won’t be able to hold bitcoin for long time, because whenever their is any problem, then you will end up selling the bitcoin just to solve the problem at that particular time.
If you are planning to invest in bitcoin, have a source of income which you will be using to take care of your daily needs, and you will be using some to invest in bitcoin, make sure you are having emergency funds, whenever their is any emergency, you won’t have to sell from your bitcoin, you will be making use of the emergency funds.
When you talk about stable income for investing in Bitcoin, you should have an idea of what stable actually is? Stable income is a certain amount of money that you receive every month.
From there, if there is any money left after meeting your basic needs, it is your discretionary income. You can invest in Bitcoin with this discretionary income. You do not need a stable law when investing in Bitcoin, you need to have a discretionary income, which JayJuanGee sir has been saying all the time.
For example, suppose you are in business, in this case you are not supposed to have a stable income because in business, the amount of income is more in some months and less in some months.
Suppose you need five thousand dollars every month to meet your basic needs.
Your total income in May was 7000 dollars.
Then your discretionary income in May is (7000-5000) = $2000
You can use these two thousand dollars as you wish.
That is, if you want, you can invest all of this 2000 dollars in Bitcoin.
Again, suppose your total income in June is 6000 dollars.
So your discretionary income in June (6000-5000) = $1000
You can invest this $1000 in Bitcoin.
Again, if your total income and basic necessities are equal in some months, then you do not need to invest in Bitcoin in that month.
[Note that the emergency fund should be included in the basic expenses] When a fairly good amount of money is accumulated in the emergency fund, the emergency fund can also be replenished from discretionary income.