Don’t keep your emergency funds in bitcoin.

[Odogwu-Blockchain]

If desired, it can also be stored in stablecoins like USDT.

If storing emergency funds in liquidated asset is risky, then I can only store in stablecoin, I have never loved to keep money in Fiat any day, for personal reasons. Keeping emergency funds in stablecoin coins is helpful in a way, if there is a sudden dump in crypto, while there is no emergency issues, you can simply purchase crypto and sell it within 2-3 days of risen. It does help this way than Fiat in bank.

[Mr Reporter]

If desired, it can also be stored in stablecoins like USDT.

If storing emergency funds in liquidated asset is risky, then I can only store in stablecoin, I have never loved to keep money in Fiat any day, for personal reasons. Keeping emergency funds in stablecoin coins is helpful in a way, if there is a sudden dump in crypto, while there is no emergency issues, you can simply purchase crypto and sell it within 2-3 days of risen. It does help this way than Fiat in bank.

Truer words bro i feel that people need to Storing emergency funds in stablecoins can be a strategic move, especially if you're keen on avoiding fiat.

One of thing I have really learned from the Stablecoins let you jump into opportunities or out of trouble fast.

[Stable090]

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.

No be today people don dey talk am say make we no dey leave our emergency money for bitcoin investment, even if u like investment or u wan make money, u see that emergency money, make sure say na for bank e dey, if u leave am for bitcoin, den hand go really tough you.

Some people just dey invest in bitcoin and dem no even sabi Wetin dem suppose know. If u leave ur emergency funds in bitcoin investment, when u go wan use d money, bitcoin price fit dey down, and u no go get choice than to sell at loss. We suppose know say money wey we dey invest in bitcoin, then na money wey we no go use for long term na him e suppose be, but money wey we go soon use, no dey leave am for bitcoin.

[Yeesha]

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.

There is no doubt that bitcoin is a unique form of cryptocurrencies. Like everything in life, it has both advantages and disadvantages. Well, bitcoin can be useful as an investment or a store of value for some people, it is not advisable to keep your emergency fund in Bitcoin. Our emergency fund should be easily accessible, stable, and safe from sudden market fluctuations.

Bitcoin is highly volatile, and its value can rise or fall sharply within short period of time. Emergency may arise that you will need your money immediately and if the market is down at that moment you could be forced to sell at a loss.

And it often requires quick access to cash, and sincerely speaking, sometimes converting bitcoin to local currency may take some times and could involve transaction fees or technical challenges. So this may lead to delay access to the money in order to take care of the emergency. Emergency fund should be kept in a place where its availability is always guaranteed.

[Joy- maker]

So they say that experience is the best teacher, and am pretty sure you learnt very well and never to make such mistake by keeping your emergency fund in bitcoin no matter what. Because Emergency fund is to be kept in the Bank or anywhere it can be accessible without going through much processes. A lot of person's also fell for this trap, they were moved to keep their emergency fund in bitcoin since they had not experience any emergency for the past few months which is a very wrong thing to do. Emergencies are unforseen circumstances that can occur anytime any day. So feeling that you can't face emergency anytime soon just because you haven't experienced any for the past few months is foolishness. Remember you don't create emergencies they create themselves so expect it anytime any day.

[Makus]

it's called emergency funds for a reason, it means that at anytime you can make use of it so it's better to keep that in your bank account. A lot of people invest in bitcoin and at some point they end up selling their coins when they go through a crisis or have an emergency issue to solve. Before investing in bitcoin make sure that you have back up funds for emergencies, the problem with a lot of people is that they investing 90 percent of what they have into it which is not supposed to be so, always keep funds aside for unplanned issues.

[AmaGold70]

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.

Bitcoin investment and emergency funds shouldn't be kept in the same place because you could need that emergency fund at any time to sort yourself out and Bitcoin isn't an investment to be disturbed as I see it, it is never wise not to have an emergency fund separately and I keep my emergency fund in Fiat currency because it's very easy for me to take it out anytime I want without thinking about it rising in the next minute as Bitcoin is fond of rising and falling unexpectedly. My opinion about keeping Bitcoin and emergency fund separately could be different from others but I like mine separately.

[digitalbear]

I like to keep most of my savings in Bitcoin for the long term, but I also keep a portion in stable coins just in case, that way I don’t have to sell Bitcoin at a low price when I need cash, and I can even use it to buy more if the price drops further. I try to buy on dips and sell a little when it goes up.

[PremiumcryptoHub]

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.

Bitcoin investment and emergency funds shouldn't be kept in the same place because you could need that emergency fund at any time to sort yourself out and Bitcoin isn't an investment to be disturbed as I see it, it is never wise not to have an emergency fund separately and I keep my emergency fund in Fiat currency because it's very easy for me to take it out anytime I want without thinking about it rising in the next minute as Bitcoin is fond of rising and falling unexpectedly. My opinion about keeping Bitcoin and emergency fund separately could be different from others but I like mine separately.

It is absolutely correct that Bitcoin investment and emergency fund should not be kept in the same place, I would say that it's important for us to know that emergency fund should be kept in a safe and easily withdrawable bank account because it is needed for unexpected moments, I always keep emergency money in our country’s local currency Naira which acts as a safety net during any unpleasant situation and financial need and it is easy for me to withdraw it at any time. So at this stage we should know that if everyone has sufficient savings i.e. sufficient amount of Naira then a small part of it can be invested in Bitcoin but not with the emergency fund money.

[Grace333]

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 felt your emergency fund has accumulated and has not generating any profit and want to generate profit from it, I guess you’ve learnt the hard way, there’s a reason it is called emergency fund, emergency is not something you expect, if it’s is expected then it won’t be named emergency fund anymore, probably you haven’t come across the 50/30/20 rules to guide you on how to go about your investment and be disciplined with your set out plans, once you deviate to try other measures, you’re definitely going to get the result of those measures. It’s nice you’ve dropped your experience here, a lot of newbies are going to learn from your experience.

[Uhwuchukwu53]

This really depends on how the individual can handle it though it's emergency fund I would have preferred it been saved in separate platform, because since is what can be used at any time , beside idea of investing it in the market will give disappointment mostly when the market is red ,it may drop the purpose as the cash
may not meet up the target because the individual can't wait for the market to turn green. For me even if one is using separate wallet to hold as emergency fund it will worry the mind mostly when the price is not good enough to sale off.

[Bitcoin.com97]

The ideal of keeping emergency funds is Bitcoin is not idea , emergency funds should be kept where it can quickly be reach incase any need arise it won’t affect you , Bitcoin is mainly for investment, but putting your emergency funds in your Bitcoin investment may warrant you to touch your investment because just as you have said that their was a dip which resulted to you borrowing money to complete it  ,imagine your investment money was big enough you would have touch it to add up to the money and settle your emergency which your savings is supposed be an investment for you .

[Bryan jessy]

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.

Irony of life! some things are just bound to happen so we can learn from it, and yeah you learned the hard way. Life is so unpredictable, just the very moment you feel all is fine and boom issues arises in the most critical time, the truth remains that our emergency funds are for emergency purposes, and in no account should it be spent on none emergency events no matter how long you have been holding on to it, emergency funds must be set aside till it usage arises so we will not be stranded and helpless just in case.
I am glad you shared such experience, as this will serve as  a help to whoever that is contemplating on spending their emergency funds, life can happen, we are humans so let us be guide. Sometimes we just need to apply wisdom in handling some certain things.

[Agbe]

Some people put all of their life savings into bitcoin but that's not really a smart decision to make because bitcoin is affected by volatility and if you invest majority of what you have including your emergency funds you might end up having a little set back when you need those funds. Even though bitcoin is a very good investment it's wise to still separate the funds you need to sort out important things so you don't sell your coins when you are not supposed to, planning ahead is very important.

[RockBell]

it's called emergency funds for a reason, it means that at anytime you can make use of it so it's better to keep that in your bank account. A lot of people invest in bitcoin and at some point they end up selling their coins when they go through a crisis or have an emergency issue to solve. Before investing in bitcoin make sure that you have back up funds for emergencies, the problem with a lot of people is that they investing 90 percent of what they have into it which is not supposed to be so, always keep funds aside for unplanned issues.

And emergency funds should be differentiated with investment funds because emergency funds is suppose to be there for you for up keep or when ever there is is an emergency and not just for fancy so that you so that you don't spend your emergency in bitcoin and funds, and when it comes to investing people need to be prepared, because when you don't have backup plans  then your dream of investing will only crumble so it is better to just have have emergency funds, and when you have everything ready then, and this will even help everything to be budgeted because you need to have everything planned out before you start investing that is one of the mistake all of them are making they don't prepare before starting.

[BoiCrypto]

Some people put all of their life savings into bitcoin but that's not really a smart decision to make because bitcoin is affected by volatility and if you invest majority of what you have including your emergency funds you might end up having a little set back when you need those funds. Even though bitcoin is a very good investment it's wise to still separate the funds you need to sort out important things so you don't sell your coins when you are not supposed to, planning ahead is very important.

You are right. Whether emergency funds or not, don’t ever put all your life savings on bitcoin. Rather, using some part of the money you know you won’t bother touching for a long period of time into bitcoin, so you won’t think if selling the investment for a long period of time. As we all know bitcoin require long period of time before selling it, you can see that if you use the money you can’t touch for a period of time you will get profit from your investment.

But if you rush and use all your savings, you may even sell in lost, because when you will  need money if there is no any other way, you will definitely touch your investment, even if the market is down.

[Grace333]

To some persons learning from others experience is not really an option until they’ve been in the shoes themselves. There’s is always a cons to every decision you make.
It is called emergency fund because it has it purpose to fulfill, when you ignore its purpose because and you felt you’ve  accumulated way too much emergency funds without it generating profit and you feel you can invest it into Bitcoin.
Except to the person, he or she expect emergency and prepared for it….lol. Emergency fund is not meant for investing, rather for an unexpected situations, to help scale through.  Don’t let greed trick you into investing your emergency fund, because when the emergency arises, it might be when Bitcoin is dipping, if you liquidate at that time, you’re definitely going to sell in lost. Let’s just try to stick with the 50/30/20 rule, depending on when you receive payment either weekly or Monthly,  of which you allocate 50 percent of your income for expanses, 30 percent for your investment and the remaining 20 percent for your emergency or savings. But if 30 percent investment is wimpy to you, then you can cut down your expanses to add to your investment, either way the option is left for you to take.

[Cryptomultiplier]

Some people put all of their life savings into bitcoin but that's not really a smart decision to make because bitcoin is affected by volatility and if you invest majority of what you have including your emergency funds you might end up having a little set back when you need those funds. Even though bitcoin is a very good investment it's wise to still separate the funds you need to sort out important things so you don't sell your coins when you are not supposed to, planning ahead is very important.

The word 'emergency', is a strong word that signals help. One can be in a life threatening situation that either requires medical attention or assistance in a time of danger and that's when the power in the word comes alive.

In this present day and age we are taught about budgeting and how to not overlook the part of emergency. In many financial decisions and investments too, the need to set aside some kind of relief funds to aid in time of distress is always in play, so that one does not take a risk that backfires and fall flat on the ground bankrupt and helpless. One must include emergency funds in the plan and the best means to secure it Incase such a scenario presents itself.

Holding Bitcoin by DCA strategy for a long term is advised not short term. Only funds you can afford to lose should be invested in Bitcoin and this exempts emergency funds or funds meant for other purposes.
This also is one reason why banks can't be overrated or ignored in your country of residence because of the core function of economic stability, efficiency and availability.

[Finebone]

It's a wrong approach to keep your emergency funds in Bitcoin because Bitcoin is a volatile asset that appreciates and depreciate at any given time, so when in serious emergency needs, you may want to withdraw from your emergency funds to sorts out the emergency situation at hand. So it's never a good idea to keep your emergency funds in Bitcoin because the price of bitcoin might be seriously down the moment you needs it during emergencies. The best way is to keep your emergency funds in fiat where you can easily gain access to it when emergency situation arise, not in Bitcoin.

[fredericktaylor]

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.

Long-term investment planning is very important to achieve success by investing in Bitcoin, success cannot be achieved by investing in the short term, because Bitcoin long-term investment. It is wise to invest the remaining money in Bitcoin after excluding all your necessary expenses. Investing all your life's money in Bitcoin is not the right decision because the future is uncertain and none of us know what awaits us, so it is reasonable to keep some money in the bank or with yourself instead of investing all your life's money in Bitcoin.

Danger can come to us at any time and the price of Bitcoin may be relatively low at that time, so when we manage our investment in Bitcoin with a long-term plan, as well as create an emergency fund for three months so that our long-term investment can be properly managed and the unknown dangers of the future can be solved. When we can consistently manage long-term investments and hold on to them with confidence, success can be expected in the future.