Truly, the emergency funds is very vital for our bitcoin investment, the importance of having an emergency funds cannot be overemphasized as it goes a long way to protecting and sustaining our bitcoin investment. But, not having an emergency funds doesn’t mean we can’t own or start an investment in bitcoin, what you need to start or accumulate bitcoin is just a discretionary income. The idea is, as far as you’re accumulating bitcoin and hold for the long term without panicking to sell or selling when it’s not yet appropriate to do so. It’s advisable to get started in accumulating bitcoin first and along the line we can be building up our emergency funds with time, but not having an emergency funds shouldn’t prevent one from investing and accumulating bitcoin when your discretionary income is available.
Just as a sensible income is needed to start investing, 2 more things are needed
1 Basic knowledge about Bitcoin
2 Faith in Bitcoin
If you do not have basic knowledge about Bitcoin, then you will never know what Bitcoin is and how we can profit from Bitcoin. If you do not have faith in Bitcoin, then you can sell your holdings during the decline. So you have to have faith in Bitcoin. If a new person is scared, it is very natural, but he has to be careful that he does not get so scared that he has to sell his holdings. Along with investing, by gaining knowledge and gaining experience, you will be able to learn to deal with the decline gradually.
Income can only be sensible as you said if someone who is earning it is reasonable
and responsible because there are a lot of folks out there that use money anyhow even when the money or income is huge and so this kind of person will always say what they earn is not sensible or enough for them. But there are also folks out there that are making good use of there income no matter how small it is, utilizing income and investing is a choice and only responsible and determined investor can do this. It is not just about having faith if you are not determined and you don't have patient, you will surely sell your investment but the most important thing is knowing why you are Investing.