Don’t keep your emergency funds in bitcoin.

[JimaGod]

Emergency funds should be kept in fiat currency for easy reach when an emergency hits you. You don't need to invest your emergency funds because it's a backup to your bitcoin investment and you don't know when emergency will occur. Therefore, you need to be ready for emergency at all time even though, you know it may come or not. My emergency funds is in USD since Naira is depreciates over USD.

Who in his right state of mind would want to keep his or her emergency funds in bitcoin? It makes completely no sense and please the person should enlighten me on how he or she plans to withdraw such funds when there's emergency? I don't seem to understand the process of storing emergency funds in bitcoin which we know it can be very volatile in the market. I'm never going to give a second thought about keeping anything called emergency funds in bitcoin because the end part doesn't always suit anyone. Learned to make good earnings and also convert your emergency funds to fiat currency which can be very common and swift.

[Barikui1]

I was saving my  emergency funds on my bank, however since I have not touched it for a very long time because I had no emergency, I felt that I needed to make the money grow so I decided to invest it in bitcoin since I have not even touched it for a long time after investing it in bitcoin, a month later I had an emergency and at that time there was a dip in bitcoin that reduced my money and I had to borrow money to add to it so I can solve the emergency that came up.
Keep your emergency funds on your bank account don’t keep it on bitcoin.

This is one mistake most people make on a daily basis, you don't invest your emergency funds no matter what, it's strictly meant for emergencies, because if you invest with your emergency funds, and in that moment emergency struck, you will likely temper with your holdings or sell at a loss just to address that emergency situation at hand.
Additional, once you start investing with your emergency funds, you are now gambling with your Bitcoin holdings since you are putting your Bitcoin holdings in a vulnerable state.

Finally, holding your emergency funds only in a bank is not ideal, because if your bank lock you out when you need the cash badly to address an emergency situation, your investment is doomed, so I advice you spread your emergency funds across two different banks and keep some few cash at hand that can protect your bitcoin investment just in case, both of your banks lock you out the most important moments you need the cash.

[Hardyrobust]

I was saving my  emergency funds on my bank, however since I have not touched it for a very long time because I had no emergency, I felt that I needed to make the money grow so I decided to invest it in bitcoin since I have not even touched it for a long time after investing it in bitcoin, a month later I had an emergency and at that time there was a dip in bitcoin that reduced my money and I had to borrow money to add to it so I can solve the emergency that came up.
Keep your emergency funds on your bank account don’t keep it on bitcoin.

This is one mistake most people make on a daily basis, you don't invest your emergency funds no matter what, it's strictly meant for emergencies, because if you invest with your emergency funds, and in that moment emergency struck, you will likely temper with your holdings or sell at a loss just to address that emergency situation at hand.
Additional, once you start investing with your emergency funds, you are now gambling with your Bitcoin holdings since you are putting your Bitcoin holdings in a vulnerable state.

Finally, holding your emergency funds only in a bank is not ideal, because if your bank lock you out when you need the cash badly to address an emergency situation, your investment is doomed, so I advice you spread your emergency funds across two different banks and keep some few cash at hand that can protect your bitcoin investment just in case, both of your banks lock you out the most important moments you need the cash.

it is a mistake to invest in bitcoin using an emergency funds. There are people that make this kind of mistake, they think leaving there funds in there local currency that inflation will eat it up, for this reason they think investing it is the right thing. One thing about emergency is that , it can't be predicted when it may happen in the future. Using emergency funds to invest in bitcoin is a big mistake as an emergency may occur when bitcoin is in bearish season and selling at this point in other to attend to the situation maybe leaving us at loss. Moreover, emergency funds should always be liquid such that it can easily be accessible when needed.

[yixichloro2xx]

This is the mistake that most people does, emergency funds aren't meant to be invested. I know sometimes their might not be any emergency on ground but that doesn't mean we should the money. Emergency is not that we expect, it happens unexpectedly especially when someone is at their lowest point. It might come as a form of sickness, family issues, expenses and so on. Most of them it's temptations of wanting profit that can make someone to invest with their emergency funds and when you do that emergency funds has lost its purpose. Emergency funds are about safety, not profit. Investing comes after safety is secured.

[Sulegzy39]

Emergency Funds are not meant for bitcoin investment, you may be need of funds, emergency funds are need to be kept incase of emergency reason you will not start running up and town for looking for physical cash to solve problem that come up if you day work for real life then maybe you should just keep some money in your bank account incase anything will come up emergency storing bitcoin is just Is just investment which we want it to grow either in the coming years so it may not be touch instead kept to keep growing and increasing.

[Pikiboy]

You have learned your lesson and we also imitate from you to those who doesn't know what emergency fund is,emergency funds is not even supposed to  be used for any investment wether physical or any online investment platform because nobody knows when an individual may have emergency, emergency is unexpected creature, Emergency funds should keep safe and close to the corner in case any necessity what if you don't have where to borrow to add up when dip occurs,then you will loses the emergency fund used for investment then the thing you want to use the money for which is not encouraging let's try to advise ourselves .

[Agbam]

E good say you don learn the lesson wey dey there and you try to share am too make others wey get that kind plan know too.
Emergency funds are supposed to be saved where they can be readily available and also used for only emergency cases. Under no circumstances should you use emergency funds for investments or any other purpose other than that which it was planned for.

I suggest even keeping a portion of your emergency funds  in cash while the other can be saved as stable coins or fiat…whatever you choose.

[CryptSafe]

Keeping emergency funds in crypto currency is not advisable because the market is highly volatile as anything could happen at anytime without your knowledge. Preferably, you can keep them in usdt so that it doesn't depreciates in value and can be easily converted into the local currency if any emergency comes up that requires immediate attention. Although savings in local currency for emergency is not bad but the inflation keeps devaluing the currency that it is meaningless and the value can not be able to do what you might likely want to use it for. You should be able to differentiate between your emergency funds and savings so you do not get entangled in situations whenever it emanates.

[Supreme Donvic]

The way people save emergency fund can be very different.

It is taken weekly or monthly when salary or wages has been paid. Some people can use it to invest in bitcoin with DCA strategy. This has been effective for me and bitcoin price has been so good.

Some people will make use of another strategy or strategies to invest their emergency fund on bitcoin.

You do not need to advise anyone but you can post about it as one of the cons of using emergency fund in investing in bitcoin. It also has advantages.

Using emergency funds to invest in bitcoin is a very bad strategy emergency funds is only meant to be used for emergency purposes and not for investment, you can use your reserve funds for bitcoin investment and it is only better to use your reserve funds in a situation where there’s a dip in other for you to accumulate good number or amount of bitcoin in that dip period, as for emergency funds is not supposed to be used to invest it’s supposed to be kept in a place you can easily assess and a place where the value won’t easily be affected or reduced.
Sir I will like to know one or two of the advantages of keeping your emergency funds in bitcoin.

[Mpamaegbu]

Keep your emergency funds on your bank account don’t keep it on bitcoin.

Instead wey u go keep am for bank, make u leave am for stablecoin. Dat way e go guard am against price fluctuations and inflation at d same time. D only time wey persin fit get mind try to leave an for Bitcoin go fit be during bull run time. As for make d thing dey for fiat wen u nor dey use am, I nor support dat wan.

[cxtreenal]

I have learnt the hard way and I don’t want same thing to happen to another person here in this forum.
I was saving my  emergency funds on my bank, however since I have not touched it for a very long time because I had no emergency, I felt that I needed to make the money grow so I decided to invest it in bitcoin since I have not even touched it for a long time after investing it in bitcoin, a month later I had an emergency and at that time there was a dip in bitcoin that reduced my money and I had to borrow money to add to it so I can solve the emergency that came up.
Keep your emergency funds on your bank account don’t keep it on bitcoin.

I keep it as a cash fund for emergencies. I don't keep it in the bank. Imagine a time when you need emergency money during a natural disaster. There is no bank near your house and there is no electricity. Such a special and emergency situation can arise for every person.

By keeping money in the bank you are choosing a safe place but if you keep money there it will deduct extra money from you every financial year and the value of the saved fiat will continue to decrease due to inflation.

Keeping a cash fund for emergencies along with accumulation Bitcoin in DCA strategy is the best decision.