Many people say “hold Bitcoin long term”, but forget about emergency funds

[Adams0001]

To hold bitcoin is very easy, if truly you settle down to learn to acquire the knowledge that is making investors and holders to know when to sell to be profitable and when not to sell than to hold to escape loss, if you want to hold bitcoin to be successful in future, make sure you have other business that is bringing you income, that is what will give you the boldness not to sell your bitcoin in short period of time than to hold for long term before you can visit the market to know what to do , either to sell to earn huge income because every holders target is to make huge income from the market.

That is what some people don’t understand about bitcoin, they think is something that they can’t invest easily what is there is just that you can’t get the benefit you need immediately you need to have patience and invest for long term before you can probably achieve your goal when you follow the step and set your target.

We shouldn’t be worried to get fast profit in our investment we should try and follow all the steps in the process and continue researching always about it so that we can handle anything that come up.  If you have steady income bitcoin investment can’t be given you any problem and you can just used DCA method and your investment will be growing gradually.

[blockman]

To hold bitcoin is very easy, if truly you settle down to learn to acquire the knowledge that is making investors and holders to know when to sell to be profitable and when not to sell than to hold to escape loss, if you want to hold bitcoin to be successful in future, make sure you have other business that is bringing you income, that is what will give you the boldness not to sell your bitcoin in short period of time than to hold for long term before you can visit the market to know what to do , either to sell to earn huge income because every holders target is to make huge income from the market.

Others are having hard time in holding because they are not prepared for it. They don't think of the future possible occurrences that they might spend the holdings they have if ever an emergency comes to them unexpectedly. Literally, holding is easy because you don't have to do anything about it. You just let it be there without touching it for how long you want it to be there while waiting for its natural growth based on the market scenario. And this is what the early adopters did before and, we'll just copy them until the best time to sell comes.

[Hamza2424]

1. cover basic needs
2. keep some emergency backup if possible
3. use only real discretionary money for Bitcoin
4. hold without emotional pressure

Bitcoin rewards patience, but patience becomes very hard when you invested money that you may need next month.

And always remember, patience with a proper analysis usually pays off in the end.

Yep, you have shared a very important tip here bro.

A lot of us are only focused on accumulating and selling at a loss, but no one is talking about emergency funds and how helpful they can be in controlling our emotions so we won't be cutting loss under pressure when we have emergency funds in place.

Because they will help you in emergencies instead of selling BTC. I have sold BTC many times even at a loss to cover unexpected expenses, not in severe emergencies, but I did not want to take a loan so I sold.

But if you have emergency funds, you don't have to sell at a loss at all and it can be very helpful, but a lot of us won't realize this until they start doing it.

[tabas]

A lesson that many still don't learn. They think that upon investing in bitcoin, it should be fine that they're in it but the other aspects of their lives aren't right. This is a good advise that upon investing to bitcoin, everyone has to make sure that they won't just dump it when they're in need of money. You don't invest in a very short period because you'd see the importance of long term and how you understand investing. Don't sell your bitcoin when you're in need due to your negligence from having an emergency funds and with your losses in your other investments.

Some people are so zealous about investing in Bitcoin that they fail to plan for uncertainties. Others just assume that they would not have any future emergencies, so they don't prepare for them. Those who are also ignorant assume that Bitcoin is a short-term investment, hence they don't have the need to set aside emergency funds. Without emergency funds, no investment is safe, no matter how lucrative it might be.

They are unexpecting things and that's why they are unprepared. But OP has a good point that when we're investing, we have to make sure that our plan follows it. We don't have to do any sacrificial sale and it's a hard one to be in that situation because I also experienced it. It hurts to sell what you don't want to sell but you have no other option and you don't have any help from anybody. That's the only way to solve it but just be grateful that bitcoin helped somehow in that situation and just go back from the start and keep the focus on accumulating them back.

[iv4n]

For me, long term holding should not only mean “I believe in Bitcoin”. It should also mean “I can leave this money untouched for long time”.

That's what Warren Buffett said: "If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes".

But when real life problems come, like rent, medical bills, family issue, job loss or urgent expenses, many people are forced to sell even if they never planned to sell. In that case the problem is not Bitcoin, but bad planning before buying.

Another saying: "If you want to make God laugh, tell Him about your plans".

Don't get me wrong, good planning helps, but you don't know what life can throw at you. And when shit happens, you need a different plan... if you have Bitcoins, or something else, at least you have something to sell.

It's easy to talk about emergency funds, investment funds, and all other funds... but some people don't have enough for basic needs. They can't afford to think about those funds, they are too busy with life circumstances...

[lovesmayfamilis]

Most people don't think about allocating money for emergency fund and they sell their Bitcoin investment to covers emergency needs. That is not wrong because they have their plan but if they can allocating money for many things including Bitcoin investment and emergency fund, they will not sell their Bitcoin investment instead using emergency fund.

They should split their income to many parts, daily needs, emergency fund, Bitcoin investment, and other parts in your life. If you face something that needs fund, you will know what allocation you should use and leave other allocation like that and it is about money management that helps you to manage the money.

That's right, and this is simple arithmetic. First put a pillow so that you have somewhere to fall if something goes wrong; this is the reserve fund... But I've seen other opinions. People believed that if they invested in bitcoin, they should buy as much of it as possible; the amount of money left for needs and unforeseen situations is always insignificant, and they explain this by saying that their bitcoin will definitely bring them profit. There are a lot of enthusiastic "investors" who, roughly speaking, do not have enough for a daily lunch for the whole family but who want to call themselves investors on such a small amount of a living wage.

I would like people to understand that saving for health, for the sake of the future, for the sake of future profits and a good life, will lead to the fact that in the future they will have to work for medicines to buy them. Therefore, everyone does not need to invest. When there is an income that meets all basic needs, then the idea of investing and profit, passive profit, should arise.

[junder]

An emergency fund is one of the key factors that must be considered even if we aren’t investing, we still need to build one because its purpose is to address sudden, urgent situations such as accidents (of any kind).

On the other hand, if you’re investing and don’t yet have an emergency fund, don’t feel pressured to build one right away. If you already have disposable income, you can invest while simultaneously building your emergency fund.

[Die_empty]

Yep, you have shared a very important tip here bro.

A lot of us are only focused on accumulating and selling at a loss, but no one is talking about emergency funds and how helpful they can be in controlling our emotions so we won't be cutting loss under pressure when we have emergency funds in place.

Because they will help you in emergencies instead of selling BTC. I have sold BTC many times even at a loss to cover unexpected expenses, not in severe emergencies, but I did not want to take a loan so I sold.

But if you have emergency funds, you don't have to sell at a loss at all and it can be very helpful, but a lot of us won't realize this until they start doing it.

One of my colleagues who also invested in Bitcoin had some financial problems. He had exhausted his emergency funds and still needed extra funds to cover some expenses. He didn't want to sell his Bitcoin, so we began to devise means to get funds. We had to apply for a soft loan from our establishment, which offered 1% interest rate. It turned out to be a good idea since the amount he made after he sold during the bull run was able to cover the interest, and he also made a good profit. I am not saying taking a loan is good but it could be a profitable option.

[Selaphiel]

I think I read somewhere that according to what I read, his emergency fund will just sleep as time passes, our emergency fund is just stored wherever it is placed, but don't expect a lot of interest from it if it is in the bank. Or if it is in our vault, it will only be a 1:1 ratio, though we can withdraw funds anytime.  But if we put it in Bitcoin, it will definitely have a good ROI this next halving coming in 2028, even if its price drops now up to 2027 onwards before 2028 it will definitely still recover. So maybe let's just think that our holding of bitcoin in the long-term is also an emergency fund in my opinion.

[HelliumZ]

In this case, you have to first create an emergency fund and then invest in Bitcoin. Many people invest all their money in Bitcoin except for the emergency fund, and as a result, a bad situation arises at a time when there is no other option but to sell the Bitcoin they are holding. In such a situation, if there is a cash fund, then it is certainly possible to deal with the bad situation from that cash fund as a backup. Wise investors are those who, along with creating a cash fund, invest in Bitcoin so that in a bad situation, they can take money from the cash fund to rescue that danger.