Don’t keep your emergency funds in bitcoin.

[Dr.Bitcoin_Strange]

You made the mistake and it's good you also learned, the only condition where I might invest an emergency funds into Bitcoin is  after I have already saved enough funds on my account and then have another allocation for emergency, instead of adding the new allocated emergency funds to the account that still hold a huge amount of unspent emergency funds, I will then put that amount into Bitcoin investment while I still have unspent emergency funds. Bitcoin is not a stable coins, so I would not invest any amount that I will be needing soon into Bitcoin.

[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.

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.

Investing in bitcoin for a long term doesn't mean we are sure or certain of success. The fact that short term investment is risky it doesn't make long term investment to be a guarantee of success. However long term investment in bitcoin stand a better chance when compared to short term investment. Short term investment is same as trading, if someone who has been trading for years should be compared to someone who has been holding bitcoin for them same numbers of years, in terms of profit the difference would be very clear. The person that has been holding for long will be in better profit.

[Ninja Primes]

You made the mistake and it's good you also learned, the only condition where I might invest an emergency funds into Bitcoin is  after I have already saved enough funds on my account and then have another allocation for emergency, instead of adding the new allocated emergency funds to the account that still hold a huge amount of unspent emergency funds, I will then put that amount into Bitcoin investment while I still have unspent emergency funds. Bitcoin is not a stable coins, so I would not invest any amount that I will be needing soon into Bitcoin.

Of course, we need to invest with the priority of emergency fund security, as well as ensuring long-term financial security and mentally preparing to hold on to it for the long term. Since Bitcoin is not stable, it is completely wrong and very risky not to keep the money there for short-term needs, Bitcoin is not an asset that can make us profitable in the short term, rather due to short-term volatility, it can reduce our half, and this is why Bitcoin is a long-term investment, despite the short-term volatility, its long-term potential has made it so popular and acceptable.
Therefore, we must ensure safety issues, always keep emergency funds ready, and continue to invest an allocated amount regularly and consistently through DCA. Many people put their future needs at risk in the hope of quick profits, but everyone who has done this to date has faced major losses, for this reason we should always continue to invest in Bitcoin through a long-term effective disciplined strategy, Bitcoin should be entered into with the hope of long-term success, it is not a suitable short-term investment.

Ninja~   

[Somto9Light]

You made the mistake and it's good you also learned, the only condition where I might invest an emergency funds into Bitcoin is  after I have already saved enough funds on my account and then have another allocation for emergency, instead of adding the new allocated emergency funds to the account that still hold a huge amount of unspent emergency funds, I will then put that amount into Bitcoin investment while I still have unspent emergency funds. Bitcoin is not a stable coins, so I would not invest any amount that I will be needing soon into Bitcoin.

You might be right, but even as that I would still allow it to serve it's purpose than putting them in where they don't belong. One thing I would like you understand is that you can't possibly measure the amount it will cost for each emergency that may arise in the future, don't be surprise that some emergency might consum that money you thing it's enough or more than enough to serve whatever emergency that may arise in the future. So since we can't possibly Predict the level of emergency it is advised to keep saving up even when you see that you have save enough just keep on saving because it is better you have it excces than looking for where you would get some money to balance up.

[GIF-JOBS]

You made the mistake and it's good you also learned, the only condition where I might invest an emergency funds into Bitcoin is  after I have already saved enough funds on my account and then have another allocation for emergency, instead of adding the new allocated emergency funds to the account that still hold a huge amount of unspent emergency funds, I will then put that amount into Bitcoin investment while I still have unspent emergency funds. Bitcoin is not a stable coins, so I would not invest any amount that I will be needing soon into Bitcoin.

You might be right, but even as that I would still allow it to serve it's purpose than putting them in where they don't belong. One thing I would like you understand is that you can't possibly measure the amount it will cost for each emergency that may arise in the future, don't be surprise that some emergency might consum that money you thing it's enough or more than enough to serve whatever emergency that may arise in the future. So since we can't possibly Predict the level of emergency it is advised to keep saving up even when you see that you have save enough just keep on saving because it is better you have it excces than looking for where you would get some money to balance up.

If you have the ability, it is best to continue, as long as you can continue saving comfortably, you should just continue it, because we can never think that anything is enough. i very agree that sometimes there may be situations where a huge amount of money is needed that we can never imagine, in an emergency, the amount needed can be much more than we think, and then the problem increases if we do not have savings in hand. That is why as long as we have the ability and capacity, we should just save and invest continuously, you should keep increasing your savings, if the savings increase, it is certainly not a problem, then instead of thinking unnecessarily, do not think that it is enough and just maintain it, then if it creates a large financial base at some point,it can give you great benefits in many ways.

[Salahmu]

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.

What deceived you was the emergency that hasn't occurred to you so you just concluded there would be no emergency for a long time but life no they work that way because the time way person think say something fit come when them go use the emergency funds na the time way you no go see any emergency but just use am and see waiting go happen because e they always be like say the emergency they wait for you to just use the money for something to happen, so actually the learning way you get from am they bad but e done also teach you one thing way you no sabi and also to tell people when they think say something way they like that no go fit happen to them.

[Fiasem20]

I don’t recommend keeping your emergency funds in bitcoin because bitcoin isn’t a stablecoin,it drop and pump anytime.So that’s what you can’t predict,and emergency funds is the money set aside for the purpose of emergency cases,nobody ever prays for an emergency but to be on the safer side it’s more important to keep your emergency funds in fiat.Though I’ve heard people say that this strategy has been working for them,but what has been working for Mr B may not work in favour for Mr C,so find your own comfort.The essence of having an emergency fund while investing is to prolong your investment goal without dipping into your portfolio in time of emergency.

[Cgrexp]

How much emergency fund a person needs before starting to invest in Bitcoin is a matter of personal judgment. Each person needs to determine for themselves how much emergency or backup fund they can confidently start investing and have access to sufficient discretionary funds. Some threads have incorrectly stated that a full backup or emergency fund is required before investing, which is not true. The point is, having sufficient discretionary funds to start with, but absolutely zero backup funds, makes investing almost like gambling. Therefore, it is necessary to have some level of backup fund, to ensure that the investment is made from discretionary funds, not from spending funds.