Quote from: atookz on Today at 02:21:37 PM

Quote from: avp2306 on Today at 12:11:07 PM

Quote from: Princess Leah on Today at 11:54:56 AM

Buying bitcoin with an emergency fund is never a good approach, it's like a misplaced priority and at some point the investor would likely touch what they're holding to solve issues that might arise, cause that's the function of the emergency funds, to settle uncertain circumstances that may arise in the future and if investor use it to accumulate aggressively and unexpected issues suddenly arises then they'll definitely withdraw what they're holding to solve it.

Every investor is meant to do it according to their financial status, therefore they should know when to be aggressive and when not to, you don't go aggressively cause your friend is doing so, the friend might be in a better situation to do so and if you're not there's no need going against what Bitcoin investment is all about just cause you want to accumulate more of it.

They are doing huge mistake if they do that since they might fail especially if there's emergency situation happens.

That's why they better know the real purpose of having a emergency funds so that they will never think about using it for buying Bitcoin or any nonsense matter. Instead of doing that maybe they should pay more attention on how they can increase their income so that they would get more discretionary funds. Since with this for sure that they can buy more Bitcoin and they would never think about other crazy things.

Buying Bitcoin with an emergency fund is a fatal mistake. It will definitely affect your psychological well-being when facing price fluctuations. I once did this when I bought Bitcoin using my wedding savings. I hoped the price would rise and I would profit, but when it dropped, I kept thinking and feeling uneasy, afraid the price would drop again. I ended up selling my Bitcoin when the price dropped, incurring a loss of around $1,200. This was my most fatal mistake. So, never buy Bitcoin with your savings or emergency fund; it will help you psychologically and help you calm down when facing fluctuations.

Buying Bitcoin with an emergency fund is not always wrong. If you have extra emergency funds, then buying Bitcoin with that extra fund would be the right decision. If you have six months of emergency funds to set aside to meet your family expenses, then you should have an emergency fund for at least three months of family maintenance and buying Bitcoin with the remaining funds would be the right decision. This is what I know about the duration of the emergency fund. In our country context, buying Bitcoin will be much more profitable than keeping cash funds for the future.

Having this emergency fund equivalent to at least three months of family expenses is very important for long-term Bitcoin accumulation because this fund can provide you with a financial backup to protect you from any unforeseen events. Keeping Bitcoin holdings intact and more accumulation.