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.

[Hustle2025]

As an investor, keeping emergency fund in bitcoin or adding it together with the capital you want to invest in Bitcoin is not good and it a bad idea. Emergency fund should be kept in the traditional banks or any where it can be accessed with ease.  Keeping emergency fund together with the capital invested in bitcoin can make an investor to sell his bitcoin when the price is down because he have emergency to meet up to.  Keeping emergency fund in bitcoin can make an investor to take a decision out of pressure and emotion.

[Versatile_choice]

As an investor, keeping emergency fund in bitcoin or adding it together with the capital you want to invest in Bitcoin is not good and it a bad idea. Emergency fund should be kept in the traditional banks or any where it can be accessed with ease.  Keeping emergency fund together with the capital invested in bitcoin can make an investor to sell his bitcoin when the price is down because he have emergency to meet up to.  Keeping emergency fund in bitcoin can make an investor to take a decision out of pressure and emotion.

No too much emphasis, the truth remains that keeping our emergency in bitcoin is not a good thing to do because it can make us not to meet the required amount when there's emergency because there might be a decline in the market, and when this happen, we might not get the full amount we deposited, in that case we might want to sell our investment to enable us meet up with the required amount.

So to avoid putting our investment in unnecessary risk it is better we hold our emergency in Fiat and also put it in a place where we can access it freely.

[Creeper0]

Bitcoin is very volatile, we need a stable currency in times of emergency. Even in times of emergency, our intellect does not work properly, there is a high risk of taking the wrong action. Since you cannot use Bitcoin directly, you have to convert Bitcoin to fiat. While this is easy in normal times, it can be complicated and time-consuming in times of emergency. The possibility of loss due to volatility also makes keeping Bitcoin in an emergency fund more risky.

It is said that keeping a stable currency or fiat in an emergency fund is reasonable, everyone has their own method of saving fiat. I will not impose my opinion on anyone, but keeping an emergency fund in a bank may not be reasonable either. Because banking transactions are often complicated and banks are closed on holidays, we sometimes see errors in ATMs. What do you do if your emergency occurs at a time when banking facilities are not available?

So keeping an emergency fund in fiat with you may be the most effective strategy. Where permission is granted only when needed, you don't have to rely on third parties.

[Odusko]

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.

You need to own up to the true that you made a mistake of moving your money into Bitcoin when you know that moving it out in profits is an uncertainty with time, which means you must sell above the price you bought it to be in profits, anything other than that is could result in your current experience, Bitcoin is not to be bought with emergency money is a wrong assumption on your side.

[Rhow]

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.

Your advice is very important to me. We keep an emergency fund for emergencies. But none of us can say when that emergency will come. So it is wise to keep our emergency fund in fiat currency.

Experienced investors say that we should use discretionary income for investments. But investing in Bitcoin for the long term is a lesson. To invest in Bitcoin, we need to maintain some savings along with our discretionary income. The importance of emergency fund and reserve fund is immense to make the investment permanent. We all know that investing in Bitcoin is not profitable in the short term. So we should plan for the long term. But emergency savings and reserve fund are important to continue that long-term investment properly. In this, we do not have to sell our investments to deal with any emergency.

[Proty]

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.

You need to own up to the true that you made a mistake of moving your money into Bitcoin when you know that moving it out in profits is an uncertainty with time, which means you must sell above the price you bought it to be in profits, anything other than that is could result in your current experience, Bitcoin is not to be bought with emergency money is a wrong assumption on your side.

yes you are right about this , moving his emergency funds or using it to buy bitcoin is a wrong decision since he can't tell when emergency may arise and the price of bitcoin whether he will be selling in profit or loss. Aside this emergency funds is supposed to be in a way that it can easily be used. So keeping emergency funds as bitcoin isn't a good idea at all. The guy is actually trying to confuse himself.

[Somto9Light]

So keeping emergency funds as bitcoin isn't a good idea at all. The guy is actually trying to confuse himself.

Most people think that saving everything in bitcoin is the smartest move not knowing that they are actually making the wrong move, I'm still wondering how someone would possibly keep his emergency funds as bitcoin irrespective of how volatile it is, isn't that obvious that the person doesn't know what he's doing? Because an investor that really understand the crypto market will never think of keeping their money in bitcoin knowing that they will be needing them sooner or later. it's very clear that the guy doesn't know what he's doing, he's very confused and I think he need help.

[Lembo69]

Emergency funds should never be kept in Bitcoin. Because no one knows when an emergency will come, and at that moment cash is needed the most. Someone may suddenly fall ill, or lose their job, then the first thing that will be needed is immediate cash.

If emergency funds are kept in Bitcoin, then you may suffer a lot, especially during a market crash. In that situation, you may be forced to sell at a low price, which can cause a big loss.
Therefore, keeping emergency funds in fiat currency is the safest and most sustainable method. If desired, it can also be stored in stablecoins like USDT.

However, keeping a separate fund for long-term investment is a good plan. Because after handling the emergency situation, these savings can play an effective role in future investments.

[RealNoblee]

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.

It's is said that experience is the best teacher, but there are some experiences that will leave someone in regretful pain for a life time.
Rather, it's good you learn from other peoples experiences.

Putting in an emergency fund in a long term investment which is not in your power to  determine the outcome is every risky and you might lose out at the end. Unless you have a constant flow of income as a backup.