When emergency hits. Will you sell your bitcoin or borrow and keep holding?

[Pandorak]

Absolutely. Selling Bitcoin in a true emergency isn't failure, it's survival. Your immediate well-being always comes first.
The real game is structuring your life so you never get to that point. A solid cash emergency fund is your main shield to protect your long-term assets. If the choice is between a manageable loan and selling your Bitcoin, the loan is usually the smarter play.

Bitcoin is for building freedom, not for sacrificing your present stability. If you have to sell to stay afloat, you sell without guilt. But the master move is never needing to.

Indeed, real life is the most important thing, you must survive even if you are forced to sell your Bitcoin. If that happens, there is no need to regret it, but you must take it as a valuable lesson to be wiser in managing your cash flow from your income. Imagine you sell when the price is falling, causing you to suffer losses, when you would not have had to if you had been patient and held on to it.

Next, you must invest with the funds you have prepared. Always use your discretionary funds for investing, rather than using funds needed for your daily life, which would disrupt your real life. it is important to realise that your residual funds can be divided into two parts (emergency funds and discretionary funds), even though the amount will be smaller, but that is the safest option to protect your investments. If you want to increase your accumulation, it is important to seek additional income from your real life.

[serjent05]

Hello everybody, I have one big question to ask that I think many people face which is, we always hear people say here and on other platforms ‘you should never sell your bitcoin’ and HODL it forever but I don’t think it is applicable in real life because god forbid an emergency can come up with you like one’s child can get critically sick and the hospital bills are too high or you lose your main job and does not know what and where next to go for a rescue. At that kind of moment, what would you really do? Are you going to sell some part of your bitcoin to solve the problem or are you going to borrow from the bank or friends and keep your bitcoin because the price will go up later?

Depends on the situation of the market.  If I am in a positive situation, meaning selling my BTC will give me a profit, then I will sell it.  If not, then I will look for someone to borrow money from.  And if there is no one to borrow money from, then I will sell my BTC regardless of the market situation.

In an emergency case, life is way more valuable than any form of money, especially if it is my family's life that is on the line.

[blockman]

I have thought of borrowing money using my bitcoin as the collateral but I haven't found a way of doing it in my local. I won't be confident doing that even it's with Coinbase and Binance. But I can't also take risk meeting someone in person doing that even it's not that much. And so, the choice that I did before was to sell Bitcoin for those needs. I prefer to have a local service if there's one exchange that's registered in my country and so that I have that confidence of doing that even for a few couple of hundreds. But the best thing is not to move any of my holdings because I might have the thought of just leaving it be when I've used it already.

[purple_sparkles]

I have thought of borrowing money using my bitcoin as the collateral but I haven't found a way of doing it in my local. I won't be confident doing that even it's with Coinbase and Binance. But I can't also take risk meeting someone in person doing that even it's not that much. And so, the choice that I did before was to sell Bitcoin for those needs. I prefer to have a local service if there's one exchange that's registered in my country and so that I have that confidence of doing that even for a few couple of hundreds. But the best thing is not to move any of my holdings because I might have the thought of just leaving it be when I've used it already.

I try not to get involved with loans at all, especially for non-essential things. Everything should be carefully analyzed and weighed, if taking a loan is more beneficial and there’s a clear strategy for how and from what it will be repaid, then I wouldn’t touch my investments. For me, these are different types of money, and I don’t want to mix them. I hope I can avoid situations where I have to withdraw funds from accounts meant for investing and long-term savings.

[Ndabagi01]

Each person might have their own view on how they tend to solve issues that arises like this, but as for me, I’ll not settle to borrow money when I have a savings I can get it from. Savings can be very helpful most times but when you have an emergency funds you can rely on before reaching out to your Bitcoin investment it’s much more better and advisable.

The main aim of investing is to grow your savings and take profits that can help solve issues for you, so when such arises and you have no other option to rely on, it’s better to take from there and solve such issues. No one knows tomorrow and can’t assure yourself that you’ll live long to even reap the fruit of the investment later, so it’s better to make hay while the sun shines.

[Rgram]

No matter how valuable or promising it may be, ultimately Bitcoin is just money, and money is meant to serve life, not to be worshipped or adored. I don't know who said they would never sell their bitcoin, but I hope they didn't misunderstand the concept of investing in bitcoin.

Should the emergency be something that could take your life with it, of what use would the Bitcoin be if you are gone!

There is no point having wealth at your disposal and you can’t use that wealth to solve life threatening situations when they do arise. Sell it and solve your problems and you would always have the chance to build your portfolio right back.

Bitcoin isn’t meant to just stay in a wallet and you count your wealth in its value, it’s meant to solve real life problems, buy products, pay for services and what have you.

[IsraelK]

I will accept that Bitcoin is very valuable but Bitcoin can never be more valuable than my child. Many of us say that we will never sell Bitcoin but if an emergency arises then we are forced to sell especially if my child gets sick and saving him is more important than holding Bitcoin. Here if my child gets sick then of course I will sell the Bitcoin I am holding and treat my child so that my child can recover and come back to my bosom. If I am alive then of course I can buy Bitcoin but if my child does not survive then I will never get my child back so for me my child is not a precious Bitcoin.

Regardless of Bitcoin's value and potential, it's still just money and money is very important in life. But it is nothing compared to our health, or the lives of ourselves or our loved ones. So you're absolutely right, and similarly, I wouldn't hesitate to sell all my bitcoins if I were in an emergency and needed money.

No matter how valuable or promising it may be, ultimately Bitcoin is just money, and money is meant to serve life, not to be worshipped or adored. I don't know who said they would never sell their bitcoin, but I hope they didn't misunderstand the concept of investing in bitcoin.

In an emergency, survival comes first. If Bitcoin is the only option, I’d sell, but if I can borrow without risking too much, I’d prefer to hold. It depends on the situation.

[Cookdata]

I will accept that Bitcoin is very valuable but Bitcoin can never be more valuable than my child. Many of us say that we will never sell Bitcoin but if an emergency arises then we are forced to sell especially if my child gets sick and saving him is more important than holding Bitcoin. Here if my child gets sick then of course I will sell the Bitcoin I am holding and treat my child so that my child can recover and come back to my bosom. If I am alive then of course I can buy Bitcoin but if my child does not survive then I will never get my child back so for me my child is not a precious Bitcoin.

Some people are taking side of Bitcoin because of what they think the forum some elite will think of of them. That's their opinions by the way and it's theirs to make but if am ask the second time and it involves funds for to save a child, I wouldn't think twice no matter the conviction, I will compromised that coin and sell. It's one thing to be sick and it's another to be alive and make another choice to be a Bitcoin holder.

The fact that Bitcoin has made alot of people with few money that bought Bitcoin since last cycle some money, then there is hope to get back at your feet. Not saying Bitcoin will crash but you can't say, never say never. If you are alive, you can DCA with the little you have to bounce back on your feet, you never can tell exactly where he price of Bitcoin is going tomorrow, 500k $1m or more you can't tell.

[blockman]

I have thought of borrowing money using my bitcoin as the collateral but I haven't found a way of doing it in my local. I won't be confident doing that even it's with Coinbase and Binance. But I can't also take risk meeting someone in person doing that even it's not that much. And so, the choice that I did before was to sell Bitcoin for those needs. I prefer to have a local service if there's one exchange that's registered in my country and so that I have that confidence of doing that even for a few couple of hundreds. But the best thing is not to move any of my holdings because I might have the thought of just leaving it be when I've used it already.

I try not to get involved with loans at all, especially for non-essential things. Everything should be carefully analyzed and weighed, if taking a loan is more beneficial and there’s a clear strategy for how and from what it will be repaid, then I wouldn’t touch my investments. For me, these are different types of money, and I don’t want to mix them. I hope I can avoid situations where I have to withdraw funds from accounts meant for investing and long-term savings.

I was able to avoid it and just thought of doing it. And I agree that if we can avoid such situations of not touching my investments, that's the better thing to do. Because of how hard we're able to accumulate Bitcoin from all of these years, we don't want to spend it recklessly. Avoiding it isn't going to be easy but for as long as we're decided and discipline, we'll find other ways in solving problems that requires some finances.

I have thought of borrowing money using my bitcoin as the collateral but I haven't found a way of doing it in my local. I won't be confident doing that even it's with Coinbase and Binance. But I can't also take risk meeting someone in person doing that even it's not that much. And so, the choice that I did before was to sell Bitcoin for those needs. I prefer to have a local service if there's one exchange that's registered in my country and so that I have that confidence of doing that even for a few couple of hundreds. But the best thing is not to move any of my holdings because I might have the thought of just leaving it be when I've used it already.

Your instincts are good. Borrowing against crypto is risky business, especially on platforms that can change terms or get hacked. Even with a "registered" local service, read the fine print on liquidation prices and fees. A sharp drop could wipe out your collateral fast. Selling might trigger a tax event, but it's a final, clean transaction. Not moving your core holdings is a solid plan protecting that stack should be the priority.

I have just thought of it if it's done with a registered local service like the banks, there's more security. But later on, I've realized that even so, it's better not to do it.

[SmartCharpa]

New investors think that they need to learn Bitcoin in depth first, but the main priority for every investor should be to understand their own personal financial situation and how they will determine their cash flow, backup funds, and initial investment position size. It is wise to start with small positions and gradually build confidence and investment. This is why DCA strategies and proper financial management are essential to ensure that you can continue investing regularly.

DCA + having savings and back funds is the better thing to do. What I see with other bitcoin investors is that's the only savings that they have. It's not that bad at all but as the question hits really bad when some emergencies happen and they don't have any source of funds where to get the budget for that matter. It's always been the bitcoin that they held for so many years will be spent for that. That's not a bad purpose and way of spending it but getting into accumulation again will be another problem for that person if he's got no other source to do the DCA again.

Every investor need to understand the DCA method, regardless of their income, they will be able to save for other things and invest the money they set aside gradually. If any investor use the method and does not invest more than they can afford, they will definitely have some money saved to save them during bad times, because we can never sure that no emergency will happen during the journey, so it is important to save money for it.

But even if an investor has emergency savings that are not enough to cover the expenses, they can touch their holding, perhaps some part of it to cover the expenses, and then, if everything is okay, they can continue to accumulate. As long as the individual has the job they used to do accumulation before, starting with the DCA again will not be problem.

[Mpamaegbu]

At that kind of moment, what would you really do? Are you going to sell some part of your bitcoin to solve the problem or are you going to borrow from the bank or friends and keep your bitcoin because the price will go up later?

Of course, I would sell m Bitcoin if I had an emergency situation and there was nowhere else to get funds from. Why keep it when I know I can sell off to resuscitate myself and hopefully bounce back after that? It's obvious that those who preach never to sell at all have other sources they get money from. Those who don't have other streams of income shouldn't let whatever they say be their reality. They're in two different worlds. As for borrowing from banks to take care of personal needs/issues when one is broke, perish that thought. It won't end well.

[Antona]

At that kind of moment, what would you really do? Are you going to sell some part of your bitcoin to solve the problem or are you going to borrow from the bank or friends and keep your bitcoin because the price will go up later?

Of course, I would sell m Bitcoin if I had an emergency situation and there was nowhere else to get funds from. Why keep it when I know I can sell off to resuscitate myself and hopefully bounce back after that? It's obvious that those who preach never to sell at all have other sources they get money from. Those who don't have other streams of income shouldn't let whatever they say be their reality. They're in two different worlds. As for borrowing from banks to take care of personal needs/issues when one is broke, perish that thought. It won't end well.

Exactly the dogma ignores real life. If your roof is leaking or your family needs help, you fix it crypto shouldn't be a religion where you suffer for the cause, selling to solve a critical problem is the right move every time.

[Youngrebel]

Hello everybody, I have one big question to ask that I think many people face which is, we always hear people say here and on other platforms ‘you should never sell your bitcoin’ and HODL it forever but I don’t think it is applicable in real life because god forbid an emergency can come up with you like one’s child can get critically sick and the hospital bills are too high or you lose your main job and does not know what and where next to go for a rescue. At that kind of moment, what would you really do? Are you going to sell some part of your bitcoin to solve the problem or are you going to borrow from the bank or friends and keep your bitcoin because the price will go up later?

What is the whole essence of holding my Bitcoin or having savings if I cannot use it in time of dear need or an emergency as the case may be. The main purpose of investing is solely to have something to rely on and run to in time of emergency and as well as have helping you to generate more funds and also use for investment that will generate more funds at old age.  So for me the first ill do in such a case is to sell a little and solve my problems first. When I totally records from all the huddles of the time I'll make sure to work.and replace all the lost funds.
There's a saying that goes "It is the living that can make money". So you need to be alive and have a  stable mind to be able to make money.

[Mahiyammahi]

Hello everybody, I have one big question to ask that I think many people face which is, we always hear people say here and on other platforms ‘you should never sell your bitcoin’ and HODL it forever but I don’t think it is applicable in real life because god forbid an emergency can come up with you like one’s child can get critically sick and the hospital bills are too high or you lose your main job and does not know what and where next to go for a rescue. At that kind of moment, what would you really do? Are you going to sell some part of your bitcoin to solve the problem or are you going to borrow from the bank or friends and keep your bitcoin because the price will go up later?

If you're taking laon then why you're going to banks, when you can use your Bitcoin as a collateral. Even you can get less interest loan on bitcoin. Unless you have worst case scenerio, you're in Verge of bankruptcy you can always count on your bitcoin holding. If you needed an emergency loan, you can put your Bitcoin as a colletareal and pay it back as your flexible terms.

By this, if bitcoin price don't drop you have no fair of going bankruptcy , even if bitcioin price drop, try to alway keep your loan to value ration 60% , maximum 70% don't go over this. This might leads you early liquidation.

[leonair]

Hello everybody, I have one big question to ask that I think many people face which is, we always hear people say here and on other platforms ‘you should never sell your bitcoin’ and HODL it forever but I don’t think it is applicable in real life because god forbid an emergency can come up with you like one’s child can get critically sick and the hospital bills are too high or you lose your main job and does not know what and where next to go for a rescue. At that kind of moment, what would you really do? Are you going to sell some part of your bitcoin to solve the problem or are you going to borrow from the bank or friends and keep your bitcoin because the price will go up later?

In an emergency, anything can be done, so if the situation reaches such a stage and then if selling Bitcoin is better for me, then I will definitely sell it. The main goal of holding Bitcoin is to gain better profits from it and achieve something better in life financially. If it is a small matter, then it will be possible to manage that matter by borrowing money. However, if something like this happens and becomes very big, then selling Bitcoin is mandatory for me and I will definitely do that.

[Antona]

Hello everybody, I have one big question to ask that I think many people face which is, we always hear people say here and on other platforms ‘you should never sell your bitcoin’ and HODL it forever but I don’t think it is applicable in real life because god forbid an emergency can come up with you like one’s child can get critically sick and the hospital bills are too high or you lose your main job and does not know what and where next to go for a rescue. At that kind of moment, what would you really do? Are you going to sell some part of your bitcoin to solve the problem or are you going to borrow from the bank or friends and keep your bitcoin because the price will go up later?

In an emergency, anything can be done, so if the situation reaches such a stage and then if selling Bitcoin is better for me, then I will definitely sell it. The main goal of holding Bitcoin is to gain better profits from it and achieve something better in life financially. If it is a small matter, then it will be possible to manage that matter by borrowing money. However, if something like this happens and becomes very big, then selling Bitcoin is mandatory for me and I will definitely do that.

Exactly the whole point is financial freedom and security using your stack to handle a real emergency is achieving that goal, even if it means selling, anyone who says otherwise has never faced a true financial wall.

[virasisog]

I've been in that situation where I badly needed cash and it is either I convert some crypto or borrow some.
If it is emergency situation where it is only a couple of days away from receiving my salary then I would rather borrow than sell my crypto to avoid transaction fee on selling it, withdrawing, and investing again when I receive my salary.

[catnine1]

Hello everybody, I have one big question to ask that I think many people face which is, we always hear people say here and on other platforms ‘you should never sell your bitcoin’ and HODL it forever but I don’t think it is applicable in real life because god forbid an emergency can come up with you like one’s child can get critically sick and the hospital bills are too high or you lose your main job and does not know what and where next to go for a rescue. At that kind of moment, what would you really do? Are you going to sell some part of your bitcoin to solve the problem or are you going to borrow from the bank or friends and keep your bitcoin because the price will go up later?

that's the realest question anyone can ask. the "never sell" bros are living in a fantasy land.
for me, it's simple: family and health come first, always. bitcoin is just a tool. if my kid needs help, i'm selling whatever i need to, no hesitation. stacking is for the good times, but you gotta be prepared to use it in the bad times too.

[Samlucky O]

Hello everybody, I have one big question to ask that I think many people face which is, we always hear people say here and on other platforms ‘you should never sell your bitcoin’ and HODL it forever but I don’t think it is applicable in real life because god forbid an emergency can come up with you like one’s child can get critically sick and the hospital bills are too high or you lose your main job and does not know what and where next to go for a rescue. At that kind of moment, what would you really do? Are you going to sell some part of your bitcoin to solve the problem or are you going to borrow from the bank or friends and keep your bitcoin because the price will go up later?

Well I'm as much as life is concerned health is wealth, and I will not trade or gamble with it. Even though people claim that they are holding their Bitcoin doesn't mean they are HODLing for dear Life. Of course that statement is just a statement that many people memorize in their Brain and haven't be caught up with real life difficultties or challenge, but when such challenges come in, it will definitely warrant the person to sell. But however it is required that people have emergency or reserved find to be able to settle real life challenges that wouldn't affect the Bitcoin investment. But outside that, when challenges happened and their are no emergency and or reserved fund then the Bitcoin investment can be tampered with since it is not HODL for there life.

[Gaza13]

I've been in that situation where I badly needed cash and it is either I convert some crypto or borrow some.
If it is emergency situation where it is only a couple of days away from receiving my salary then I would rather borrow than sell my crypto to avoid transaction fee on selling it, withdrawing, and investing again when I receive my salary.

This depends on the situation of the problem they are experiencing. If you look at your problem above, it is not a big problem and you can be sure that everyone will take the same steps as you by borrowing a loan to cover the lack of money for your daily needs. Going further, what if you experience a major disaster that truly requires a significant amount of money? I personally would take steps to sell my Bitcoin, and if that wasn't enough, I would borrow from my closest relatives because life is much more important, it must be saved first. If conditions improve, we should be grateful, as our efforts have not been in vain. And if conditions return to normal, we can be sure to repeat the process by investing in Bitcoin.