Learning to trade bitcoin or other crypto assets often makes you panic. Because indeed the price of Bitcoin often goes up and down quickly.
After you trade bitcoin and learn to understand what a blockchain is, you’ve tried it. But still not profitable? You need to be patient. Because the rise of Bitcoin is gradual and more suitable for long-term investment.
Sometimes many beginner traders who are just learning bitcoin are attacked by panic attacks. Sometimes even use, traders use emergency funds. Not only in learning bitcoin too. However, it is also important to apply to traders on other platforms. Because trading or investment must be sourced from investment funds or from your allowance that you reduce.
The use of emergency funds is very important. You have to be wise, know when these funds will be used. For example, if you get laid off because of a corona outbreak, or when you are sick and so on.
Emergency funds are a number of funds held or provided in finance, where these funds are specifically used to deal with various unexpected conditions in life. This means that you will only use this fund when dealing with emergencies that cannot be overcome with normal finance (within a fixed budget).
With the explanation above, it is clear that emergency funds are funds that are only used at certain times and cannot be predicted when the funds will be used. But even so, the provision of these funds in finance is very important, because various emergency conditions can occur at any time.
The provision of this emergency fund is needed to overcome a variety of conditions, such as: the cost of living while looking for a new job (after layoffs), medical expenses, the cost of home repairs due to disaster (flood, fire), the cost of post-accident care, as well as other emergency conditions.
Now for those of you who are just learning bitcoin, this is how to deal with emergency funds so they are not used when panic attacks hit.
- Make a list of priority needs
The first thing you must do when economic conditions are in crisis is to make a list of priority needs.
You will avoid panic buying, make a priority scale of goods that you have to buy. Do not spend money on items that are not essential just because of the discounts offered. The desire for non-essential goods should be postponed first when the economy is uncertain because of the crisis.
- Reducing the use of credit cards
Now when a crisis occurs, you should not use a lot of credit cards especially for consumptive things because it will worsen your money when the economic conditions are uncertain like now.
- Pay off your loan or debt immediately
The best thing you can do when conditions like this is to pay off all loans so that if the crisis lasts for a long time, you have spent the funds that were indeed allocated to pay off debts. This is very important considering the crisis situation can not be predicted until when, therefore immediately budgeted funds to pay off debt so that you know how much reserve funds you have after being reduced by the debt to be paid.
- Start investing
Now these tips are the most important tips that you have to do when you are sick. Surely you do not want all of the emergency funds to decrease continuously followed by opinions that are declining because of reduced productivity?
Therefore you need to start investing now. It is important to remember that when a crisis occurs the investment instruments Stocks are not a good choice because there is a massive price correction in the market.
Therefore, choose the type of investment that did not experience a significant decline during the crisis and tends to be stable even the price has increased. Wow what is that? One example of the type of investment that was not affected during this crisis is gold, but ownership of gold has several drawbacks where you have to set up extra security places to protect your assets.
But don’t worry, you can also invest in crypto assets like bitcoin because you don’t need extra security for storage. The bitcoin that you have can be stored easily on your gadget like on a cellphone, tablet or PC. Bitcoin prices were recorded to have experienced a very significant increase of 10% in a day when the crisis hit.
- Choose a trusted Bitcoin or Crypto Asset
Before you invest in crypto, make sure you register with a trusted exchanger and have obtained a license from the government, namely Indodax. To make an investment, you can easily visit