Hodl (Naija)

[Son Of Blockchain (SOB)]

🇳🇬 ₦110,830,925 ($83,398 €74,537 £62,872)

Edited..

This was what I was doing before but I have converted all my emergency money to bitcoin, some to PAXG/XAUT, and some to SPCX. I have little left 10% in the bank but they are under savings with 18 to 20% annual interest on Moniepoint, Kuda, Opay, Palmpay and Opay

I earn weekly which I am using the old formula for.

Your choice of diversification and the percentage of your income you choice each investment opportunities is cool but I don't I'll agree with saving an emergency funds in Bitcoin, don't forget that the emergency fund is used for uncertain situations and shouldn't be stored in a volatile asset like Bitcoin.
 It should be kept in a stablecoin since it's less volatile, what if an emergency situation happens during the dip, you could be pressured into using money for your investment to sort it.

[BItcoin Guy@]

I totally agree with you.  Inasmuch as Bitcoin is important, especially when investing for the long term, that doesn't mean one shouldn't save in fiat, because there are other expenses that one will need fiat to cover. This can save one the stress of converting Bitcoin to fiat when money is needed and potentially selling at a loss. That's why people should always plan and not only think about the present but also consider the future. So one has to balance saving in Bitcoin and in fiat.

When Bitcoin as not comes existence, people are all saving in fiat, but since they have something much better then fiat, when they invest, they will get more profit on it. As for me, currently, I can’t advice someone to be saving or investing in fiat anymore, because I don’t see any reason of getting something big, but investing in bitcoin or saving, the price is volatile, and you can be getting better profit when your savings or investments is for a long term purpose. Investors always keep what they will used at that period and keep it in fiat and invest for Bitcoin, and that is the best thing as a experience people that really need something in future.

[Charles-Tim]

It should be kept in a stablecoin since it's less volatile, what if an emergency situation happens during the dip, you could be pressured into using money for your investment to sort it.

I do not see any good reason emergency funds should be in stable coins, I will prefer to save it in naira instead. The naira is not fluctuating as it was before when Tinubu got to office. The foreign reserve is growing and it is like there are excesses now. I may change my decision later if I see pressure on Nigeria foreign reserve like what happened during Buhari time. I am watching it closely.

[Sammysmart001]

It should be kept in a stablecoin since it's less volatile, what if an emergency situation happens during the dip, you could be pressured into using money for your investment to sort it.

I do not see any good reason emergency funds should be in stable coins, I will prefer to save it in naira instead.

For now Naira might be more stable. But local inflation is secretly still eating the value of money sitting in your bank account. That the main reason for stablecoins. USDT is playing a vital role by protecting emergency fund from inflation and also can easily sell out for Naira on P2P in space of 5 min if real emergency happens.
Keeping a small amount of Naira in bank for an instant needs and having to keep the main emergency fund in stablecoins to avoid it from lossing value is a smart balance.