JJG’s Outline of Bitcoin Investment Ideas

[Big Dirams]

Even though it is important to get started investing in bitcoin as soon as possible, it makes little to no sense to start out with absolutely no emergency funds (back up funds).

At least some back up funds need to be present, otherwise a person cannot be sure that he is not investing into bitcoin with non-discretionary funds.  One of the requirements of bitcoin investing is to use discretionary funds - and don't be making dumb mistakes that relate to trading or gambling.. especially since investment in bitcoin should be considered to be 4-10 years or longer, even if in the beginning a newbie might not be ready, willing or able to establish his investment timeline to be 4-10 years or longer.

I agree with you, timing the market at times do matters but but some silly mistakes many of this new investors make is by not applying good safety to their investments they just walk in, into bitcoin investment with no proper safety at all. Let secure most important funds down first before walking into investing, it not just about starting early, Are we secured?

The 3 months of basic expenses for emergency funds is absolutely a smart idea and with such approach we can see the journey would be less traumatizing and easily we can keep up with the constant accumulation because no more emergency that will pop up and won’t get sort out. 
Starting investing without options for emergency funds can be very risky but when we get it set aside then instantly it guide us from any unforeseen circumstances and also it save us a lot fortune by not seeing our holdings as an option to sell while investing.
  However the best long term approach is by long term holdings when we stay disciplined and hope for a 4-10 years of holding. That really brings much sustaining and sufficient value.

[Barikui1]

Even though it is important to get started investing in bitcoin as soon as possible, it makes little to no sense to start out with absolutely no emergency funds (back up funds).

At least some back up funds need to be present, otherwise a person cannot be sure that he is not investing into bitcoin with non-discretionary funds.  One of the requirements of bitcoin investing is to use discretionary funds - and don't be making dumb mistakes that relate to trading or gambling.. especially since investment in bitcoin should be considered to be 4-10 years or longer, even if in the beginning a newbie might not be ready, willing or able to establish his investment timeline to be 4-10 years or longer.

I agree with you, timing the market at times do matters but but some silly mistakes many of this new investors make is by not applying good safety to their investments they just walk in,

It seems like you do not understand what sir jayjuangee said here, because he did not say that timing the market at times do matters, what he was saying is that it's not a bad idea if you have at least a small amount of emergency funds or backup funds available while starting, because it stands as a safety net against any unforseen emergencies.

When you have your discretionary income available for a start, making some provisions for emergency and reserve funds right away from there is very important because it helps to give your Bitcoin investment that needed security from the start.

[alankasman]

...

The 3 months of basic expenses for emergency funds is absolutely a smart idea and with such approach we can see the journey would be less traumatizing and easily we can keep up with the constant accumulation because no more emergency that will pop up and won’t get sort out. 
Starting investing without options for emergency funds can be very risky but when we get it set aside then instantly it guide us from any unforeseen circumstances and also it save us a lot fortune by not seeing our holdings as an option to sell while investing.
However the best long term approach is by long term holdings when we stay disciplined and hope for a 4-10 years of holding. That really brings much sustaining and sufficient value.

During these 3 months we'll see how to invest long-term. If someone can survive investing in Bitcoin for the long term will likely find it easier to manage the resulting cash flow. This approach is easier to implement as it's better to avoid rushing. This is a good idea for those who are still hesitant to start investing in Bitcoin. They often experience things that don't live up to expectations ultimately resulting in them rarely accumulating Bitcoin due to mistakes that lead to no longer accumulating Bitcoin.

The best approach you've suggested is probably because many people are confused about how to set aside funds to mitigate the risks of starting a Bitcoin investment. For those who don't fully understand this method it's best to seek more appropriate guidance so they won't repeat the mistakes that often occur when saving money.
The timeframe is what determines whether it's 4-10 years. As long as someone remains consistent and disciplined in implementing their long-term plan they won't make mistakes. Over such a long period if they can hold consistently they will have the hope of bringing home substantial value and being able to continue investing in the long term.

[Nightwatchmare]

In my won perspectives. I don't think someone must completely finish building a huge emergency funds before buying even $5 bitcoin, and at the same time I do not also think, it's wiser to put all thier extra money 100% of it into bitcoin and ignoring backup funds completely, moreover the best is to just to be building backup funds slowly and also take an advantage bitcoin accumulation gradually.

As a beginner starting Bitcoin investment, an emergency is not a reason to avoid investing because to some people it seems that because there is no emergency fund, there is no need to invest in Bitcoin. An emergency fund can come later after a good amount of Bitcoin has been accumulated; it's something you need to plan for, and it doesn't just happen immediately when you want to start Bitcoin investment.

Any newbie or beginner that is very serious to invest in Bitcoin, an emergency fund is not a reason for the newbie or biginner not start his Bitcoin investment because investing in Bitcoin to a certain extent without the availability of an emergency fund is very much allowed, anyone who believed if there is no emergency fund, people cannot invest in Bitcoin or there is no need for people to invest in Bitcoin, the person does not know the importance of having an emergency fund in Bitcoin investment. I agree an emergency fund can come later but it should not come after you have accumulated a good amount of Bitcoin because you do not know how long it would take you to accumulate a good amount of Bitcoin, if an emergency happens the period you are trying to accumulate a good amount of Bitcoin before you build an emergency fund, you will be force to sell your Bitcoin to take care of you emergency. For you not to experience this, i advise you to build your emergency fund 1 month or 2 months into your Bitcoin investment or rather you can build an emergency fund as you are investing in Bitcoin.

[Joeboy]

Any newbie or beginner that is very serious to invest in Bitcoin, an emergency fund is not a reason for the newbie or biginner not start his Bitcoin investment because investing in Bitcoin to a certain extent without the availability of an emergency fund is very much allowed,

Emergency situations could happen at anytime, so you don't need to be an investor first before considering the importance of backup funds/or emergency funds... Truth be told, the absence of emergency funds increase ones financial vulnerability coz unexpected expenses dosen't give any kind of warning before it comes...  My point isn't for folks to delay their investments because of emergency funds, but rather I think that it is very much possible that folks simultaneously invest, while also building up at the same pace some backup funds/or emergency funds...

[nara1892]

I think what we should prioritize in our Bitcoin journey is our discretionary income not really our emergency funds not that emergency funds is not important but the major thing is our discretionary income because it is what allows us to purchase and hold without our discretionary income there will be no Bitcoin investment ( I mean there will be no funds to accumulate). I don't know about others but if I'm using my discretionary income to accumulate whether there's emergency funds or not I won't be force or move to touch my investment because of Dip because already I have it in mind to hold for long.

Emergency fund is definitely important, but we have to start investing first, and we have to do this investment through discretionary income. Any investment requires discipline, if we can control everything through our financial management with discipline, then we can definitely continue investing. Investing is a long-term journey, so we should invest by ensuring our long-term holding and being prepared for emergencies, and investing definitely requires consistency, this is the most important thing.

An emergency fund is indeed that important, especially if your goals are long-term. Long term planning, of course, requires a stable income to maintain consistency. While there's no pressure to be consistent, maintaining consistency will maximize your potential returns after completing your investment planning.
Honestly, I haven't been completely consistent so far. I sometimes miss allocating funds due to financial issues, but I always strive to maintain and maximize that consistency, such as by taking on a part-time job.

[Muba20]

I would always suggest that investors adapt the 50:30:20 sharing formula for their discretionary income which is 50% for your investment fund which you use in buying bitcoin, 30% for your emergency fund and 20% for discretionary consumption.

The funds you mentioned are certainly important. But it is not the case that your 50:30:20 formula will apply to everyone in the same amount. Your example may be good. But it is not the same rule that will work for everyone. If someone has a stable income, low expenses and already has some savings, they will probably be able to put a larger portion in Bitcoin. Again, if someone has an irregular income, has a lot of family responsibilities, has debts or has a completely empty emergency fund, it may be reasonable for them to keep more liquidity. What will actually work the most here is to understand your discretionary income correctly. The money that is really left over after all necessary expenses, food, rent, debts, family responsibilities and urgent needs are excluded is the money that is usable for Bitcoin accumulation. But how much of that money will go into Bitcoin, how much will go into an emergency fund and how much will stay in a backup fund depends on the person's real situation.

[Sally9256]

Any newbie or beginner that is very serious to invest in Bitcoin, an emergency fund is not a reason for the newbie or biginner not start his Bitcoin investment because investing in Bitcoin to a certain extent without the availability of an emergency fund is very much allowed,

Emergency situations could happen at anytime, so you don't need to be an investor first before considering the importance of backup funds/or emergency funds... Truth be told, the absence of emergency funds increase ones financial vulnerability coz unexpected expenses dosen't give any kind of warning before it comes...  My point isn't for folks to delay their investments because of emergency funds, but rather I think that it is very much possible that folks simultaneously invest, while also building up at the same pace some backup funds/or emergency funds...

I think you misunderstood his point and if you had read completely you'd understand his point. I read his post and his idea was to not delay your investment because of emergency fund even though he made emphasis on how important an emergency fund is and stating how risky it is to continue investing without emergency funds. He made it clear that once you start investing you should not delay having an emergency fund ready.

Well it's true emergency can happen anytime and it doesn't warn before showing up so it's important to have at least a small amount aside as back up once you start investing so you won't be forced to sell your Bitcoin when emergency shows up. It won't make much sense to not have a backup fund ready as soon as possible.

[New Judgement]

In my won perspectives. I don't think someone must completely finish building a huge emergency funds before buying even $5 bitcoin, and at the same time I do not also think, it's wiser to put all thier extra money 100% of it into bitcoin and ignoring backup funds completely, moreover the best is to just to be building backup funds slowly and also take an advantage bitcoin accumulation gradually.

An emergency fund can come later after a good amount of Bitcoin has been accumulated; it's something you need to plan for, and it doesn't just happen immediately when you want to start Bitcoin investment.

The best approach is to start your emergency funds savings along side your accumulation, because the moment you start your accumulation, your portfolio will need protection because you can’t tell when something will happen. It doesn’t need to be a huge amount that you will be paying into your emergency funds account, but let it be that something is going into that emergency funds account while you’re also investing in bitcoin. It doesn’t require any big form of planning as you are sounding.

[Grease5000]

In my won perspectives. I don't think someone must completely finish building a huge emergency funds before buying even $5 bitcoin, and at the same time I do not also think, it's wiser to put all thier extra money 100% of it into bitcoin and ignoring backup funds completely, moreover the best is to just to be building backup funds slowly and also take an advantage bitcoin accumulation gradually.

As a beginner starting Bitcoin investment, an emergency is not a reason to avoid investing because to some people it seems that because there is no emergency fund, there is no need to invest in Bitcoin. An emergency fund can come later after a good amount of Bitcoin has been accumulated; it's something you need to plan for, and it doesn't just happen immediately when you want to start Bitcoin investment.

Any newbie or beginner that is very serious to invest in Bitcoin, an emergency fund is not a reason for the newbie or biginner not start his Bitcoin investment because investing in Bitcoin to a certain extent without the availability of an emergency fund is very much allowed, anyone who believed if there is no emergency fund, people cannot invest in Bitcoin or there is no need for people to invest in Bitcoin, the person does not know the importance of having an emergency fund in Bitcoin investment. I agree an emergency fund can come later but it should not come after you have accumulated a good amount of Bitcoin because you do not know how long it would take you to accumulate a good amount of Bitcoin, if an emergency happens the period you are trying to accumulate a good amount of Bitcoin before you build an emergency fund, you will be force to sell your Bitcoin to take care of you emergency. For you not to experience this, i advise you to build your emergency fund 1 month or 2 months into your Bitcoin investment or rather you can build an emergency fund as you are investing in Bitcoin.

I totally get your point, and. You don’t need to wait until your emergency fund is fully built before one start with Bitcoin even starting small is fine. At the same time it is important not to put all your extra money nto it. In my own opinion gradually building both your backup fund and Bitcoin holdings is the best approach bet it keeps you safe while still taking advantage of early accumulation.

[Rockson1]

It seems like you do not understand what sir jayjuangee said here, because he did not say that timing the market at times do matters, what he was saying is that it's not a bad idea if you have at least a small amount of emergency funds or backup funds available while starting, because it stands as a safety net against any unforseen emergencies.

When you have your discretionary income available for a start, making some provisions for emergency and reserve funds right away from there is very important because it helps to give your Bitcoin investment that needed security from the start.

I think this particular argument and counter argument has been over stressed, why do not buy the idea of having a back up funds or emergency fund before starting up Bitcoin investment is that some persons might end up not going into Bitcoin at all but the way @JayJuanGee put it out is understandable, one can have have a little of the emergency funds and back up funds respectively I think his reason for this statement is to counter any thing that will come as an obstacle in form emergency at that starting point but the main build up of the funds for safe guilding our Bitcoin investment should start along side with our investment proper.

[Supreme Donvic]

Any newbie or beginner that is very serious to invest in Bitcoin, an emergency fund is not a reason for the newbie or biginner not start his Bitcoin investment because investing in Bitcoin to a certain extent without the availability of an emergency fund is very much allowed,

Emergency situations could happen at anytime, so you don't need to be an investor first before considering the importance of backup funds/or emergency funds... Truth be told, the absence of emergency funds increase ones financial vulnerability coz unexpected expenses dosen't give any kind of warning before it comes...  My point isn't for folks to delay their investments because of emergency funds, but rather I think that it is very much possible that folks simultaneously invest, while also building up at the same pace some backup funds/or emergency funds...

I agree with you there is no point delaying your investment because you want to build a backup fund's, I understand how important having a backup fund's is in our accumulation journey but the best thing to do is to build your backup fund's along side your bitcoin investment, you can decide to invest 70% of your discretionary income into your backup fund's and then 30% to your Bitcoin investment you can run it through this way for just few months by then you have built a strong backup fund's and then you can start using your 100% discretionary income to invest in Bitcoin.

[Jody.Drummer]

An emergency fund is a foundation of financial security that should be prioritized before focusing on investing in highly volatile assets like Bitcoin. Having an emergency fund is crucial because it prevents you from being forced to sell your Bitcoin at a loss during a market downturn (panic selling), or from experiencing financial loss and mental trauma. So, the analogy between Bitcoin and an emergency fund is like a supercar with brakes and seat belts. Supercars allow you to go fast under the right conditions, but without brakes, the risk of an accident is very high.

Here you come again, you seem not to be following up with most of the beneficial ideas here by Jay Juan gee and other users here because if you do you won’t be saying that one should prioritize building an emergency funds first before getting started with bitcoin accumulation and investment. That statement could go a long way to mislead new intending investors not to start and drop their bitcoin investment ambition because they don’t have emergency funds or rather they may feel they must have to save up some cash first as emergency funds before they can start buying and investing in bitcoin. now let me ask you, is it bitcoin you’re investing on or you’re investing on emergency funds for you to first prioritize building the emergency funds before getting started in bitcoin accumulation and investment. For sure your intention is to invest in bitcoin, so why not just get started with accumulating the bitcoin first if you have the discretionary income available to do so instead of placing priority in building emergency funds first. I’m not saying that the emergency funds is not needed In bitcoin investment, but the truth is that not having the emergency funds ready shouldn’t be an excuse for not getting started in bitcoin investment. it’s advisable to get started first In bitcoin accumulation and investment once you have a discretionary income available and not to delay getting started by waiting to build up the emergency funds first, not having the emergency funds isnt a barrier for not getting started in accumulating bitcoin as you can start accumulating bitcoin and along the line build up the emergency funds or better still you allocate some percentage of your discretionary income to buying bitcoin and hold and the other percentage of the discretionary income to Saving up for building the emergency funds and other backup up funds gradually.

And again, the emergency funds is to help  protect our bitcoin investment so we don’t tend towards selling our bitcoin portfolio when in an emergency situation that needs cash to solve and not really because of market downturn. If you’re panicking to sell because you noticed a little market downturn then you’re a trader because that’s the mindset of traders aiming for quick profit and not real investor.

If our situation has sufficient income then immediately start investing in bitcoin with a note of course having basic knowledge of bitcoin investment, if to collect emergency funds first it can delay the investment, but on the other hand it depends on each other's beliefs too, it's just that it's better to prioritize the goal of bitcoin investment because in my opinion over time emergency funds can be built too. Now if someone does not have an emergency fund and what he does is immediately invest then it is not wrong because he has done what he wants with the aim of preparing for his future, but when an undesirable situation occurs that makes the investment disrupted then he should get a lesson about emergency funds that must be built as well.

[reagansimms]

An emergency fund can come later after a good amount of Bitcoin has been accumulated; it's something you need to plan for, and it doesn't just happen immediately when you want to start Bitcoin investment.

The best approach is to start your emergency funds savings along side your accumulation, because the moment you start your accumulation, your portfolio will need protection because you can’t tell when something will happen. It doesn’t need to be a huge amount that you will be paying into your emergency funds account, but let it be that something is going into that emergency funds account while you’re also investing in bitcoin. It doesn’t require any big form of planning as you are sounding.

The point is that even small portfolios need protection.
Starting an emergency fund along with accumulating assets is the best approach because it can help you build habits, not amounts. If you wait for your emergency fund to reach its target and then focus on investing in Bitcoin, it will likely be difficult to move to the Bitcoin stage because it will have already been used for other needs. To offset Bitcoin's volatility while building assets, avoid buying large amounts at once randomly. You can use the DCA method to buy Bitcoin in the same nominal amount regularly.

[Brizi5000]

Even though it is important to get started investing in bitcoin as soon as possible, it makes little to no sense to start out with absolutely no emergency funds (back up funds).

At least some back up funds need to be present, otherwise a person cannot be sure that he is not investing into bitcoin with non-discretionary funds.  One of the requirements of bitcoin investing is to use discretionary funds - and don't be making dumb mistakes that relate to trading or gambling.. especially since investment in bitcoin should be considered to be 4-10 years or longer, even if in the beginning a newbie might not be ready, willing or able to establish his investment timeline to be 4-10 years or longer.

I agree with you, timing the market at times do matters but but some silly mistakes many of this new investors make is by not applying good safety to their investments they just walk in, into bitcoin investment with no proper safety at all. Let secure most important funds down first before walking into investing, it not just about starting early, Are we secured?

The 3 months of basic expenses for emergency funds is absolutely a smart idea and with such approach we can see the journey would be less traumatizing and easily we can keep up with the constant accumulation because no more emergency that will pop up and won’t get sort out. 
Starting investing without options for emergency funds can be very risky but when we get it set aside then instantly it guide us from any unforeseen circumstances and also it save us a lot fortune by not seeing our holdings as an option to sell while investing.
  However the best long term approach is by long term holdings when we stay disciplined and hope for a 4-10 years of holding. That really brings much sustaining and sufficient value.

I could agree with most of the things you said but it’s just that you misquoted some of the idea shared by Jay Juan gee in regards to a long term bitcoin investor whose initial strategy is mainly focused on the consistent accumulation of bitcoin and hold with the DCA strategy . In this regard such investor don’t have  business timing the market at any time, as a long term investor timing the market doesn’t matter but what should matter to him is to figure out a discretionary income to use and regularly buy bitcoin according to his DCA plan either weekly or monthly basis or most time dependent on how his discretionary income flows at any market price and hold for long term purpose.

You must not wait until you have 3 months of daily expenses before you can start accumulating and investing in bitcoin. Even though it’s left for everyone to decide how much of their discretionary income they can allocate to buying bitcoin and building emergency funds but not having 3 months of daily expenses ready shouldn’t be a reason to delay getting started in buying bitcoin and invest as you can be accumulating bitcoin and alongside  allocate some part of the discretionary income for building your emergency funds gradually.

[Proty]

Any newbie or beginner that is very serious to invest in Bitcoin, an emergency fund is not a reason for the newbie or biginner not start his Bitcoin investment because investing in Bitcoin to a certain extent without the availability of an emergency fund is very much allowed,

Emergency situations could happen at anytime, so you don't need to be an investor first before considering the importance of backup funds/or emergency funds... Truth be told, the absence of emergency funds increase ones financial vulnerability coz unexpected expenses dosen't give any kind of warning before it comes...  My point isn't for folks to delay their investments because of emergency funds, but rather I think that it is very much possible that folks simultaneously invest, while also building up at the same pace some backup funds/or emergency funds...

it doesn't matter how perfect our investment plans maybe, there is chances that something can come up along the line to derail this plan. Therefore, there is need to put this unforeseen circumstances into consideration while making any plans as regards our bitcoin investment. Having an emergency funds is crucial as being able to hold bitcoin for a long term like 5-10years. The best possible way for those without emergency funds is to start building there emergency funds along side there bitcoin investment instead of delaying not to invest and remaining a no coiner in the name of wanting to build an emergency funds first.

[Sim_card]

I agree with you there is no point delaying your investment because you want to build a backup fund's, I understand how important having a backup fund's is in our accumulation journey but the best thing to do is to build your backup fund's along side your bitcoin investment, you can decide to invest 70% of your discretionary income into your backup fund's and then 30% to your Bitcoin investment you can run it through this way for just few months by then you have built a strong backup fund's and then you can start using your 100% discretionary income to invest in Bitcoin.

I think, as a brand new investor who just wants to start his Bitcoin investment without any backup funds on ground should start right away by sharing his discretionary into three parts which is 33.3% for his regular weekly DCA, 33.3% to build his backup funds and 33.3% for his discretionary consumption and continue like that till you have built your emergency funds up to three months of your expenses.

You don't just build your emergency funds or backup funds in few months because a low income earner with a low discretionary income will take a year or more to build his emergency funds of three months of his monthly expenses. Lastly, in reality investing 100% of your discretionary income into Bitcoin isn't possible because you have right to your discretionary consumption. Investing in Bitcoin isn't punishment.

[The Founding Titan]

I think what we should prioritize in our Bitcoin journey is our discretionary income not really our emergency funds not that emergency funds is not important but the major thing is our discretionary income because it is what allows us to purchase and hold without our discretionary income there will be no Bitcoin investment ( I mean there will be no funds to accumulate). I don't know about others but if I'm using my discretionary income to accumulate whether there's emergency funds or not I won't be force or move to touch my investment because of Dip because already I have it in mind to hold for long.

A good point, all funds are important but to ensure that we meet our target as investors then the discretionary funds is the utmost priority cause that's what's used for investment an not any other, the emergency funds has it own role to play which is solving emergency situations, it's not like it's not important but concerning Bitcoin investment the discretionary funds is what matters most.

 Investor should know how to differentiate between both and know how and what to use them for, some people feel it's right to use the emergency funds for investing in Bitcoin, forgetting that life is unpredictable and anything can happen at anytime so if they invest with the emergency funds, what then would they use to solve emergency situations when it occurs, the discretionary funds?

 

The way you are lining up the discretionary income and the emergency fund like these are things from very different sources is wrong, they are from two different sources but what needs to be understood is that your emergency fund comes from your discretionary income the same way you invest with your discretionary income as well.
Your discretionary income is like the main source from which your investment is funded, your emergency fund and the rest of your backup funds are also funded so yes you are right when you say that people shouldn't use their emergency fund to invest in bitcoin because doing that will defeat the very purpose of having an emergency fund in the first place but when making statements like this it's better to actually know where your emergency fund comes from so you don't just dismiss the discretionary income when talking about your emergency funds.

[BluebloodCXVI]

Your implication that some guys might have various kinds of funds or even back up incomes that might help to support him and/or his expenses in cases that his income might go down and his expenses go up.  If a guy were to ONLY have various sources of income, yet those sources of income rely upon his ability to work to be able to generate income, then those would not be sufficient as holding at least some back up funds.

It is good when some guys might have gotten themselves into situations that they have various sources of income, yet there are also guys who also who might purposefully fail/refuse to build and maintain back up funds because they are trying to maximize their attempts to put their funds to work in all places and subconsciously (or perhaps consciously) they consider all funds in cash to not be sufficiently "working" and so they are attempting to maximize their "working" money, but then that may well end up getting them into trouble when they are not holding a sufficient amount in cash (since cash is how their bills are denominated).

Surely we can shoot to have 3 months of our expenses in cash as our back up funds, yet we have to figure out a balance that works for us and yeah, we might not always know when we get into some kind of an extended period in which our income might have had gone down and/or our expenses go up, so then if we are really trying to place a priority that we do not have to tap into our bitcoin at a time that is not of our choosing, and sometimes we might even be mislead that it is O.k. to tap into our bitcoin based on bitcoin appreciating in price and "being in profits," which surely can end up inadvertently screwing up our building of our bitcoin holdings and some guys will never end up reaching anything close to overaccumulation status because they either do not put good cashflow management systems in place, they do not prioritize their own abilities to generate discretionary income and they are too unable to defer gratifications, so they cannot resist tapping into their bitcoin holdings so that they might not have to do the otherwise hard things of maintaining a job and otherwise striving to increase their discretionary income.

Perhaps one of the most important points that I can pick out from everything you have said here is that having multiple income streams doesn’t always mean that someone is financially secure, and you see especially when all those incomes still depend on the person still being actively working, you can never really know, things can change quickly when unexpected situations come up. I’ve also noticed that most people sometimes get too focused on making every of their penny to work but in doing that, they forget that cash itself is what provides stability during difficult periods and that being forced to sell your bitcoin because of poor planning is very different from you selling because you just want to sell it.

[abaeze]

. As a beginner starting Bitcoin investment, an emergency is not a reason to avoid investing because to some people it seems that because there is no emergency fund, there is no need to invest in Bitcoin. An emergency fund can come later after a good amount of Bitcoin has been accumulated; it's something you need to plan for, and it doesn't just happen immediately when you want to start Bitcoin investment.

Some persons focus only on accumulating Bitcoin without considering real life emergencies, if an emergency comes up and there's no back funds most individuals will end up selling their Bitcoin at the wrong time building your emergency fund alongside your investment gives stability and helps one stay invested for long term.

Since Bitcoin requires both accumulation and financial safety. So first you need to understand which is more important for investment. If someone thinks that they will invest after making an emergency fund, then maybe the common man will not start investing at all if he is scared of excessive price fluctuations. On the other hand, in real life, sudden illness, job loss, family problems, business losses can come at any time. If there is no emergency fund, then people may be forced to sell Bitcoin in a bear market or bad times and will be affected.

So in my opinion, the most effective strategy is to start a Bitcoin DCA with a small amount even if there is no complete emergency fund. But at the same time, it is also important to create some cash reserves. Because many people invest in Bitcoin, but in the end, maintaining it according to plan is the most important thing for success.