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Having An Emergency Fund Is One Of The Most Important Parts Of Investing In Crypto

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Having An Emergency Fund Is One Of The Most Important Parts Of Investing In Crypto

I rarely hear people recommend having an emergency fund before starting to invest in crypto. Before doing it, we should have an emergency fund to have our ass covered just in case we lose our job, we have to pay medical bills, car/house appliance repairs, or maybe if the financial system collapse with the bank runs like we are in risk right now.

There is no specific amount of money that you have to have because that amount has to be according to your needs and situation. In my case, I only maintain the amount necessary to survive without work and paying all expenses for 4 months. To some it may seem little but in my case I consider that being a Software Developer the risk of losing my job and not finding another quickly is very low. Also, I don't have children so I don't have to save as much.

Emergency Fund

Thank you very much for reading this post and I hope it reminded you that it is important to have a safeguard.

Edit: This advice is a good advice for all type of investments or whatever in life, I forgot to remove In Crypto from the title sorry.

submitted by /u/kirtash93
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