5. Emergency Fund First. Always. I know we’ve been hearing this a lot here on this forum, in fact it was when I joined this forum I started taking my emergency fund more serious.. Bcus it’s one of the most powerful steps. Maybe built at least 1–3 months of your basic expenses in cash or stable value.
When you are building up the amount that you invested in bitcoin to be at least 3 months of your expenses, then during those times, you may well be in position in which it is preferable to build up the emergency fund and the bitcoin holdings at around the same pace, yet once your bitcoin reaches more than 3 months or more that you have put in of your expenses (it might have had grown through bitcoin appreciation too), then you are likely going to be putting your bitcoin at risk if you are letting your emergency fund have less than 3 months - including 1 month of your expenses seems really risky, even though surely guys are free to judge their own situation and to figure out their risk levels. So many poor people get themselves into trouble because they fail/refuse to build anything close to a sufficient back up funds system, and then their bitcoin end up serving as their back up funds, which ends up leading to their having to sell some or all of their bitcoin at a time that was not of their own choosing, even when they could have had engaged in reasonable levels of back up funds that would have had saved them from such situation, so they end up having fun staying poor... and perhaps never being able to get back to the bitcoin position that they could have had or should have had with the establishment, keeping and maintaining of a bit more preventative precautionary measures in place, and adequate back up funds is one of them and not overdoing and/or shitcoining and/or trading (gambling) with their bitcoin is another those good practice measures that are likely even more important for poor people.
It sounds slow, but it will protect ur future Bitcoin. Because when something happens, you won't need to sell your Bitcoin in a panic.
6. Mental Peace, involving fast Accumulation
I used to feel bad seeing others saying they already have 0.5BTC or 1 BTC or 2 BTC or more. I felt behind. But I later realized, some of them are deep in debt or under pressure, and they just don't show it.
Our journey should give us peace. If buying Bitcoin is making you anxious, it means you’re overdoing it…. Look, at the end of the day, it is all about balance. Life is long (hopefully), and Bitcoin is not going anywhere. You will be able to stack more when your life is stable, not when you’re always broke and hoping for a pump.
Let our financial security be our foundation, and let Bitcoin be what we build on top of it. That is how we stay in the game long enough to actually win.
Let’s not go broke trying to be early. Let’s be smart, steady and stay in control.
Use of leverage in bitcoin is a more advance technique, and merely because it is advance does not mean it is a good idea to even try to employ it beyond perhaps in some modest ways. Frequently it is better to start out in bitcoin with straight-forward only longing of bitcoin through regular buying, yet the reality of the matter is that guys might come to bitcoin with an already high level of use of debt and even quite messed up finances based on their poor cashflow management and their already existing debt-ladened situation. Guys have to figure out how to work with from where they are at which might mean investing in bitcoin and trying to resolve some of the more egregious portions of their debt, yet at the same time, they may have to learn some techniques to be more responsible and to gamble less with their finances, and like you mentioned, setting up systems that help you to not get overly emotional about BTC price moves in one direction or another, even though we likely cannot completely take emotion out o f the equation, there are still ways to lessen the likelihood of high emotional levels.