Hodl (Naija)

[Sally9256]

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.

That's true there's really no reason to keep your emergency funds in stable coins, it's much better to keep it in fiat currency. You can't be investing and have your investment to worry about and still be bothered about your emergency fund when the dollar rate drops. That way whatever happens you will know that your emergency fund will be intact and if any emergency happens it will be available to sort it at any time.

[Karl_3000]

🇳🇬 ₦110,718,272 ($83,138 €62,082 £74,064)

Emergency fund should not be invested in bitcoin or any kind of cryptocurrency but what you are following is wrong.

What you have just said is half wrong. If you do not know what you are doing, you are wrong. But if you know what you are doing, knowing that bitcoin can fall 20% from $80000 more after you invested your emergency fund, it is not wrong at all. My emergency fund has grown at least than having it in naira and I am still thinking it will grown more. I planned for both increment and drawdowns.

[Karl_3000]

The bitcoin today at the moment:
🇳🇬 ₦109,410,617 ($82,132 €73,106 £61,465)

Bitcoin rose to ₦113,097,957 ($84900) yesterday, but it has now fallen to ₦109,501 ($82,200). Bitcoin has been falling below ₦107,902,645 ($81000) this month, but it has not been falling below $80000. If this could continue, I hope this could be about the price of bitcoin going higher later but I am not very sure about it.

Happing hodling.

What do you think about what JPMorgan predicted about 10% annual bitcoin returns for the next 10 years?

[Gost ms]

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.

That's true there's really no reason to keep your emergency funds in stable coins, it's much better to keep it in fiat currency. You can't be investing and have your investment to worry about and still be bothered about your emergency fund when the dollar rate drops. That way whatever happens you will know that your emergency fund will be intact and if any emergency happens it will be available to sort it at any time.

If we divide our emergency fund into several ways, it is good for us. For example, in fiat currency, dollars, and banks, if we divide our emergency fund in this way, I think we can be worry-free. Suddenly, when we have some kind of emergency, we can deal with the emergency for some time by giving it in fiat currency and later we can easily convert our money from dollars or banks into fiat currency and deal with the emergency. However, each person has his own wishes, so each person can decide according to their wishes what they will do.

[GoldBitcoin112]

Though I grab this message very clear, it's a good one that people should encourage others to buy and keep Bitcoin because Bitcoin is the future of those who values it greatly.
But I'm always encouraging almost all the youngee generation that is always close to me to invest out efforts in Bitcoin because it indeed the future, but in other hands many wants quick money, that's why they enbark on trading thinking it's Bitcoin investment, and one major things here is for the fat that one is investing in Bitcoin doesn't mean that we are trading, trading is another way of making money in Bitcoin but I can't allow my friends to trade , because is gambling, I will keep encouraging everyone to out more effort in buying Bitcoin and holdl for the purposes of better tomorrow.

[Charles-Tim]

10% annual interest over the next 10 years is a very good prediction. That is like 100% in 10 years. But it is worth knowing that bitcoin all-time high and the price it can increase up to is not part of it, if bitcoin price also fall later after all-time high is also part of the calculation. That is if bitcoin price increase and later fall a little, there will still be 10% annual profit.

If we divide our emergency fund into several ways, it is good for us.

This is a very good suggestion, part of it can also go into bitcoin investment.

[Versatile_choice]

If we divide our emergency fund into several ways, it is good for us. For example, in fiat currency, dollars, and banks, if we divide our emergency fund in this way, I think we can be worry-free. Suddenly, when we have some kind of emergency, we can deal with the emergency for some time by giving it in fiat currency and later we can easily convert our money from dollars or banks into fiat currency and deal with the emergency. However, each person has his own wishes, so each person can decide according to their wishes what they will do.

This is a good suggestion and the most important thing is all is in stable coin, oftentimes I keep saying that our emergency fund should be saved in Fiat or stable coin so that there will be no drop in the value when we need it. And yeah dividing our emergency fund in several ways is actually a nice idea because some emergency may require spending dollars for example, you have a relative who is outside the country probably USA. maybe he called to ask for help from you in that case you can transfer the money to him via your dollar account.

[KawasakiNinja1_]

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.

That's true there's really no reason to keep your emergency funds in stable coins, it's much better to keep it in fiat currency. You can't be investing and have your investment to worry about and still be bothered about your emergency fund when the dollar rate drops. That way whatever happens you will know that your emergency fund will be intact and if any emergency happens it will be available to sort it at any time.

If we divide our emergency fund into several ways, it is good for us. For example, in fiat currency, dollars, and banks, if we divide our emergency fund in this way, I think we can be worry-free. Suddenly, when we have some kind of emergency, we can deal with the emergency for some time by giving it in fiat currency and later we can easily convert our money from dollars or banks into fiat currency and deal with the emergency. However, each person has his own wishes, so each person can decide according to their wishes what they will do.

It is a good decision but we can say that it can be divided into several parts based on need and time. But that there are two types of emergency fund i.e. short term emergency fund and long term emergency fund, so in terms of your analysis it seems that fiat currency,Dollars are best kept in a short-term emergency fund because when a sudden emergency arises, they can be dealt with in fiat currency. Another important point is that since this fund is being divided into different parts, a part of it can also be used for Bitcoin investment.

[Sammysmart001]

Another important point is that since this fund is being divided into different parts, a part of it can also be used for Bitcoin investment.

I will disagree with you on using your emergency funds for Bitcoin. Your emergency funds aren’t meant for investing, it meant for your daily real life emergencies.

This emergency money is there to save you when things suddenly goes wrong. Just imagine putting the money into Bitcoin and market when ahead and crashes when you need to pay an urgent hospital bill ? How do you do, you will be forced to sell out at a huge loss.

A very smart move, is to have to divide your emergency savings funds to Naira for instant access and also stablecoin or dollar so to protect against inflation.

But note also that your long term Bitcoin bag should be separated from your emergency money, you shouldn’t mix them up.

[Derekfunds]

If we divide our emergency fund into several ways, it is good for us. For example, in fiat currency, dollars, and banks, if we divide our emergency fund in this way, I think we can be worry-free. Suddenly, when we have some kind of emergency, we can deal with the emergency for some time by giving it in fiat currency and later we can easily convert our money from dollars or banks into fiat currency and deal with the emergency. However, each person has his own wishes, so each person can decide according to their wishes what they will do.

Do you actually need to divide your emergency funds? Emergency should be generalized for anything and I am beginning to get confused by emergency fr banks, currency and dollars, what do you even mean by these? Emergency funds is emergency funds what do you need to divide it for and don't you think doing that will be a lot stressful and distracting I mean having different emergency funds in different places. Personally, I don't do that.

[Obulis]

Those that that didn't mke a smart move some months ago would have been regretting why they refused to invest, while wasting thier time waiting for the perfect price entry before doing the necessary things, investing in Bitcoin has no perfect time,even investing now is still a perfect entry fir those that has a long-term holding mindset.

There is no one right time to start investing in Bitcoin, every moment is right for Bitcoin. The market is currently going through a rise or fall but after a long correction period, this rise has created a great opportunity for new investors who did not believe that Bitcoin would reach another ATH and probably have a strong chance of doing so within this year. Don't say fooled those new investors who have not started Bitcoin due to lack of discretionary income, they may be waiting for an opportunity, that opportunity is a price drop, but the best time for every investor to accumulate Bitcoin is when he has additional funds available. They are the smart and wise ones who consider every period of Bitcoin's price as an opportunity to accumulate Bitcoin and accumulate Bitcoin regularly.

I don’t know why a lot of people still find this to understand, if you really waiting for a DiP before thinking of kick starting your investment, then you will probably not start. With DCA everything is made very easy, so rather than waiting to start investing, you can just start with your DCA strategy, and you won’t even have to worry about how the market is going.

Sometimes if we trying to predict the market before investing, we might end up not investing at all, Bitcoin is volatile, so why waste time in trying to predict it. Invest using DCA and invest for a long period of time, with that there is a high possibility of Favorable returns.

The logic is that simple and clear, no point waiting for the dip before thinking buying Bitcoin knowing how far this waiting for the dip has made so many people loss buying opportunities and DCA strategy is handles all of that, while using DCA strategy, the opportunity to meet a dip is already automatic without stress and anxiety, you just start building your Bitcoin stash instead of waiting for trial by error, I call waiting for the dip trial by error because a predicted dip might never ever happen so that makes it trial by error.

[cxtreenal]

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.

That's true there's really no reason to keep your emergency funds in stable coins, it's much better to keep it in fiat currency. You can't be investing and have your investment to worry about and still be bothered about your emergency fund when the dollar rate drops. That way whatever happens you will know that your emergency fund will be intact and if any emergency happens it will be available to sort it at any time.

If we divide our emergency fund into several ways, it is good for us. For example, in fiat currency, dollars, and banks, if we divide our emergency fund in this way, I think we can be worry-free. Suddenly, when we have some kind of emergency, we can deal with the emergency for some time by giving it in fiat currency and later we can easily convert our money from dollars or banks into fiat currency and deal with the emergency. However, each person has his own wishes, so each person can decide according to their wishes what they will do.

Everyone may have different thoughts. The plan you have advocated for keeping your emergency fund in different forms depends on the area you live in. If you live in a city and don't keep all your funds in fiat it may not be a problem because you can withdraw funds from the bank at any time or easily convert dollars to fiat to meet your emergency needs. If you live in a rural area, it may create a different situation because it will be a waste of time for you to convert to bank or fiat. I think it is better to keep your emergency fund in fiat form to avoid any unwanted situations.

[Karl_3000]

The bitcoin price today at the moment:
🇳🇬 ₦107,694,632 ($80,065 €71,435 £59,918)