we must also have an emergency fund, whether it's setting aside an emergency fund before buying BTC or saving for it at the same time as we buy BTC. And of course, this emergency fund must be increased over time, because if it isn't increased, our long-term BTC investment could be at risk of being sold and ultimately failing to achieve a profit.
After investing, we definitely need an emergency fund. There are many people who have worked for a long time and have saved a lot of money. If they want, they can use some of the money they have saved as an emergency fund and start investing. But those who do not have any saved money can create an emergency fund along with investing if they want. For example,
*You invest $50, from that you can keep $20 for the emergency fund, and you can invest the remaining $30.
*A person should remember that it is very good to keep 3 times his stable income in an emergency fund or 3 times his monthly expenses in an emergency fund.
Creating an emergency fund is very important for every investor, because it will ensure the safety of your investment.
When you invest in Bitcoin, you must keep it for the long term, then you must be able to overcome all kinds of obstacles.
Unexpected situations can come in people's lives in any way, if a family member of yours gets sick or faces financial danger in some other way, then if you do not have enough emergency funds at this time, then you will be in a lot of trouble financially at that time.
Then you may have to sell your Bitcoin investment, which will bring losses for you, so it is very important to take all kinds of preparations for long-term protection.
By keeping an emergency fund ready, you will not have to sell your Bitcoin during any unexpected situation and your investment will remain intact in the long term, which will give you a chance for long-term success.