The true fact is that bitcoin and other crypto coin are all called or classified as cryptocurrency however they are not the same they are totally different from each other
For the sake of newbies, it's better not to use the term crypto currency to address Bitcoin as this can often turn out to be misleading and pass the wrong idea about Bitcoin. I feel it'll be more appropriate to call it a digital asset instead of crypto currency as digital asset best describes the nature of Bitcoin and not crypto currency. Using the term crypto currency will only make people see or compare Bitcoin to all of them shitcoins, which is not only an insult to Bitcoin but also the biggest misconception an investor or anyone would have about Bitcoin. So it's best to completely avoid the using the term crypto currency when talking about Bitcoin.
I believe it is very important for this distinct difference to be set out because if you look at the amount of meme coins and shitcoins that comes out daily are way very alarming.
They might have been coined out of similar ideas but the goals which makes bitcoin different from any other has earlier been stated right from its launch.
Most are only after you investing and they swoop away your income. When bitcoin and crypto are used interchangeably, it can truly mislead newbies.
i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.
Setting aside emergency funds when you are investing in bitcoin is not for you to use to solve your basic needs because if you do that, you are taking a wrong step in your bitcoin investment, and you will find it difficult to hold your bitcoin investment for 4-10 years. If you want to solve your basic needs, you will use your weekly or monthly income to solve your basic needs, while you will use your emergency funds only when an unexpected problem you didn't plan for arises.
The take home is; as an someone investing into bitcoin, even while you can term all unforeseen expenses and emergency, you should be able to different what is the main emergency funds relatable to bitcoin investment, and the unforeseen billings that can now be classified or covered by float funds.
Lets say you open up your WhatsApp now and your junior siblings bills you for something very random, while that is also an unforeseen circumstance, it should be able to be sorted by float funds and not affect the main emergency funds you are keeping down. Keeping them discreet is key